Renting Property in Bay Area

[MajorDMP]

Greetings Everyone.

I have an update. So, I got a call from the agent today saying that i was approved for the unit. I saw a credit report was pulled on my account earlier this week. They sent me a link to a website where I can pay the rental fee (background check,etc). I was informed that I need to pay the fee plus the deposit via the website. I asked about the need to sign a lease before I send the money. He states the fee is used to take the property off the market and since the unit wont be available until June 1st, I will be signing a lease closer to the start date. BTW, he would give me a receipt stating the terms such as rent, etc.

Either this is an elaborate scam using a website, and pulling credit to get a deposit or this is how they operate. Like others have said, I am gonna swing by the leasing office to see whats up.

[MajorDMP]

BTW,

A little more about the listing. Why would an apartment be using Zillow to advertise or is this how they do it here?

1912 Camino Verde # 4D, Walnut Creek, CA 94597 is For Rent | Zillow

[Westbound and Down]

Originally Posted by MajorDMP

Greetings Everyone.

I have an update. So, I got a call from the agent today saying that i was approved for the unit. I saw a credit report was pulled on my account earlier this week. They sent me a link to a website where I can pay the rental fee (background check,etc). I was informed that I need to pay the fee plus the deposit via the website. I asked about the need to sign a lease before I send the money. He states the fee is used to take the property off the market and since the unit wont be available until June 1st, I will be signing a lease closer to the start date. BTW, he would give me a receipt stating the terms such as rent, etc.

Either this is an elaborate scam using a website, and pulling credit to get a deposit or this is how they operate. Like others have said, I am gonna swing by the leasing office to see whats up.

What is the rental fee? You say background check, etc. - what is the etc? Is this the $1500 earnest money thing again? Earnest money should be held by a third party - you should not pay earnest money directly to the landlord. There are necessary contracts to sign for a proper earnest money deposit. Did you ever clarify why this money is "earnest money" and not the first month's rent (better for you) or at least the refundable security deposit on the rental.

Have you seen a copy of the lease that you won't get to sign until closer to the move-in date? You need to read it over NOW to avoid misunderstandings.

[MajorDMP]

The rental fee is for the application. $40 per adult so about $80. The earnest/deposit is to take the unit off the market. This money will be used as the deposit for the unit. This property is an apartment and not an condo or owner occupied unit. I contacted the leasing office and verified the person I met and have been speaking to is in fact an employee of the complex.

I also inquired about the deposit prior to signing an actual lease. They say this is standard operating procedures and the lease is typically signed upon move in. They say I can arrange to sign the lease prior which is what i will probable do. God, I hate the process of renting.

[clongirl]

Originally Posted by MajorDMP

BTW,

A little more about the listing. Why would an apartment be using Zillow to advertise or is this how they do it here?

1912 Camino Verde # 4D, Walnut Creek, CA 94597 is For Rent | Zillow

Not exactly sure why they'd list it on Zillow over the usual Craigslist (which is the norm) but I did look up this "investment" company for you and found this (for what it's worth).

Rutherford Investments - Los Gatos, CA - Yelp

and this....Rutherford Investments - Mill Valley, CA - Yelp

[sav858]

Originally Posted by MajorDMP

BTW,

A little more about the listing. Why would an apartment be using Zillow to advertise or is this how they do it here?

1912 Camino Verde # 4D, Walnut Creek, CA 94597 is For Rent | Zillow

Typically listings on Zillow are usually found elsewhere too, like on Property Management websites from what I've seen. When I've used Zillow in the past for rentals I would see the property then go find it on another site, usually that rental complexes own site or a Property Management company website. I never saw anything listed on Zillow and nothing else.

[Atheneum]

We rented recently in a town close to walnut creek and nothing like this was asked for- I never heard of "earnest money" before I saw this. Normal security deposit and a bit extra for the pet - all detailed in the lease agreement. And the lease agreement was signed at the same time as we handed over the check for the deposit.
I agree on the big "what if" the apartment is not ready by 1 June. You sure they are not using your "earnest money" to help fund the renovations ?!

[MajorDMP]

I've given up on this property. I have visited a few other complexes and all of them are straight forward. The real kicker is that they say I was approved for the unit and will be sending me information to begin the process but never receive it even after repeated attempts. Its been a week and I cant get a explanation of what is going on. Do you want to rent it to me or not!! So, F* this place.

[kgbnsf]

Originally Posted by MajorDMP

I've given up on this property. I have visited a few other complexes and all of them are straight forward. The real kicker is that they say I was approved for the unit and will be sending me information to begin the process but never receive it even after repeated attempts. Its been a week and I cant get a explanation of what is going on. Do you want to rent it to me or not!! So, F* this place.

Good move. There are very strict state guidelines for landlords to follow. They can ask for a security deposit, I would have to check with my legal counsel on the 'ernest' deposit. Even the $40.00 fee for the credit check is suppose to only be for the actual cost of running the check which for me is about $25.00/person. And, as another poster mentioned, I too start with my best candidate, run their credit report and if they are good, I return the checks for the other applicants. I only keep the application fee for those I run the credit check on- which I think is the law, anyway.

[Ultrarunner]

There are lots of Bay Area Scams... good to be careful.

Here is a link to a good informational source for tenant/landlord in California.

Landlord/Tenant Book Index - California Department of Consumer Affairs