The Rental Property Scam involves the creation of fake listings for rental properties on Facebook Marketplace. These listings typically feature attractive properties at appealing rental rates.
The scammer, posing as the landlord or agent, asks interested parties for a deposit, rent, or other fees before the property can be viewed, often citing various reasons for being unable to show the property in person.
How Does Rental Property Scam Happen?
- Attractive Listings
Scammers post listings for rental properties that often seem too good to be true, with high-quality images (usually stolen from real listings or other sources) and rental prices below the market rate. - Engaging Interested Renters
Once a potential renter shows interest, the scammer quickly engages them, often with a compelling backstory explaining why the property is offered at such a good rate. - Excuses for Not Showing the Property
Scammers typically come up with plausible excuses for being unable to show the property in person. Common reasons include being out of town, dealing with personal issues, or health-related excuses, especially relevant during times of public health concerns. - Request for Money Upfront
The scammer asks for a deposit, first month’s rent, or other fees to be paid upfront to secure the property, often urging the renter to act quickly to avoid losing the opportunity. - Disappearance After Payment
Once the payment is made, the scammer often cuts off communication, and the renter finds out that the property does not exist or is not available for rent.
Why Is Rental Property Scam Effective
- High Demand for Rentals
In areas with high demand for rental properties, potential renters may feel pressured to act quickly. - Appealing Offers
Attractively priced properties in good locations are hard to resist. - Emotional Decision Making
The urgency and fear of missing out can override cautious decision-making. - Remote Transactions Normalized
Increasing acceptance of remote transactions can make renters more susceptible to such scams.
How to Avoid Rental Property Scams
- Verify the Property
Research the property online to see if it is listed elsewhere and whether the details match. - Insist on a Viewing
Always insist on seeing the property in person or ask someone you trust to view it on your behalf. Be wary if the seller persistently refuses. - Research the Landlord or Agent
Look for reviews or records of the landlord or rental agency. - Avoid Upfront Payments
Never pay a deposit or rent before you have verified the property and the landlord. - Be Wary of High-Pressure Tactics
Scammers often create a sense of urgency to rush you into making payments.
What to Do If You Encounter a Rental Property Scam
- Stop communication with the scammer.
- Report the listing and the user to Facebook Marketplace.
- Alert local authorities, especially if you have made any payments.
- Share your experience with your network to prevent others from falling for similar scams.
- If you have transferred money, contact your bank or payment service immediately to see if the transaction can be reversed.
