For years consumers have been debating between renting and buying the roof over their head. Both shelter opportunities come with a variety of pros and cons and if you are leaning towards renting your next home, following the fateful words of "caveat emptor" (Mike Brady) is advisable.

Rental scams have been growing in popularity across the nation as surplus real estate inventory has flooded the marketplace. Predatory con artists have been creating false advertisements for vacant properties or those currently for sale by owners. These ads have been used to separator potential lenders from their hard earned cash.

Rental Scams on the Rise

Throughout history, charlatans have been trying to make a quick buck on the back of trusting folks. Thanks to the advent of technology, swindlers are getting an economic boost. Rent scam-artists easily lift photos and home listing information from live and legitimate real estate listings. Then using that content, the criminals are creating fake rental advertisements boosting rental opportunities that appear too good to be true. The fact is, many of them are and consumers are unwittingly at risk for being scammed.

One such attempt recently made headlines in Ocala, Florida. According to Ocala.com Jewel Estep has been trying to sell her home for over two years. Police reports indicate that her sales listing was converted into a rental scam advertisement. The activity was unearthed only after James and Bonetta Lovett innocently knocked on Estep's requesting a tour before agreeing to the terms of the rental agreement. The Lovetts' found the fake rental scam on Craigslist.com, and were complete unaware of the potential crime until they met Estep face to face.

Tips to Avoid a Rental Scam

When it comes to renting, buyers really need to beware in order to avoid becoming a scam victim. Some red flags of a potential rental scam include:

• Dream Rentals and Discount Prices: If the rental advertisement lists a property deal that sounds too good to be true, cynicism is your best defense.
• Absentee Landlord's: Generally landlords want to mitigate their financial risks by finding good renters who pass a slew of criteria including credit checks. If a potential landlord is lax on the process or are willing to substantially discount the transaction, as they need to leave the area stat, think twice.
• Communication Skills. Finding the right rental takes both time and effort and if a potential landlord is not willing to commit either, something may be astray. Renter's who find that potential Fred's or Ethel's are unwilling to provide you with a tour of the rental or only communicate via email in broken English may not be on the up and up.
• Cash Only: Cash is king as it is very hard to legally prove a scam has occurred with a cash transaction. If a potential landlord request either wire transfers or cash only payments, push them for a reason why. They may automatically back out of the terms, as they will realize that you are on to them.
• Internet Ads: While no one can argue the benefits, the technology is the predominant tool of rental scam artists. Scams perpetrated through the web have been reported to local authorities throughout the country and your town could be next.

General Rental Tips

Finding a great rental can be a daunting task, so consumers need to be incredibly cautious to ensure their next potential home is on the up-and-up.

• Distrust: When it comes to rentals, do not automatically believe what your read. Make a potential landlord earn your trust before revealing any personal information or providing any type of deposit.
• Multiple Service Listings (MLS): If you find a rental property that sounds too good to be true, make sure to check out the local MLS. Many scam artists rely on this legitimate real estate database to find homes for sales. Using that information, they create fake ads and post them on third party websites.
• Hardship: Rental agreements are business transactions, nothing more. If a landlord starts sharing tales of woe and desperation and struggling with paying their mortgages, renters need to think twice. Not only is this a sign of a scam, but also if legit, it could be an indicator of problems down the road.

The fact is, more Americans are rethinking their living situation in result to the real estate boom and bust cycle and renting is making a comeback. According to the New York Times, during a sour economy, consumers who long to live out their American dream should rejoice as "buying often beats renting." The situation varies from market to market.