How do you prove you have a rent deposit as a prospective tenant?
A gentleman in Canada is renting out his condo at a very reasonable rate. However, his solution to prove that I have enough money for a deposit is to wire money to myself. Then, he would check the reference # on the electronic transfer. Once it’s successful he would allow me to rent the apartment. Is there a better way to do this?
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11 Answers
You could use a credit report, or show him a receipt from your bank of how much savings you currently have. You could also write him a check for the deposit, he’ll see that it wont bounce and get over it!
That seems weird to me unless it is some Canadian custom. I would not do that without talking to my banker here first.
The “Craigslist” tag and cheap and apartment plus a somewhat weird plan makes me think that this is a scam.
That does sounds a little shady, Here are some tips on Rental Scams
Anytime I hear the words “wire money” it’s an instant red flag for me, and I cease all communication. He should be able to run a credit check or have you show him a bank statement or a pay stub. These are far more common practices.
That does sound like a pretty convoluted method for proving you have the money. Once he receives the deposit check he can call your bank to verify funds, or he could require the deposit in the form of a cashiers check or money order. I’m with the others, the whole wiring money to yourself thing makes absolutely no sense and sounds somewhat fishy.
In my experience, you don’t “demonstrate” that you have a deposit. You just write the guy a check, he cashes it, and if you don’t do anything horrible to the carpet, he gives it back when you move out.
Let me guess…. in order to verify the reference number he needs your account number, right?
If you are getting scammed, you should report the guy to his local police department.
Banks can issue a “verification of funds”. You can get one from your bank saying that on this day your account balance is this amount. That seems to me a bit extreme given that you are
As many have said before a pay stub, copy of your bank statement (if you’re so inclined to share that), and/or a credit report should be sufficient.
As many have said before this whole things smells very fishy.
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