Las Vegas NowRenters Beware of Shady Dealings

Renters Beware of Shady Dealings

Rental properties are hot attractions right now. Whether it is apartments, condominiums or homes, more and more are available because of the foreclosure mess.

Eyewitness News talked to one couple who are looking for a place to live and found out there may be some pitfalls renters should be aware of. Marvin Weintraub just moved to Las Vegas from Florida with his wife. They're not ready to commit to buying a home right now.

"Our plan is first to find a rental that we're happy with and then learn the different areas and see where we want, what we like, and what we want to live in," said Marvin Weintraub, who is looking for a rental property.

Right now the couple has their pick from thousands of rental properties that are on the market. But Nick Nolf with Remax says there are things they need to think about. One thing renters should always do is make sure the property they are renting is not in foreclosure.

"It is not a buyer beware, but a rental beware because a lot of times when people get into rental properties they don't realize the property owners might be going into foreclosures," said Nolf. Sometimes, landlords are looking to collect some quick cash and it's the renter who gets left in the cold.

"There's a misconception that a lot of people think to get into a rental, they just go to the homeowner give them money and you get the keys," he said. He warns that without proper guidance you may not be protecting yourself in the long run.

"There is a system. There are forms you have to fill out. You have to give information and do background checks and credit checks, and check verification of funds and employment," he adds. The forms create a paper trail for both the landlord and the renters that can help avoid problems.

Weintraub and his wife were able to provide all that and more which made their hunt for a rental property alot easier, and faster. They also had the help of a realtor they trust.