Blog Post  Get Schooled on Rental Scams

As college students head back to school in September, many are securing off-campus apartments to lease for the school year. However, the housing market is full of fraudulent activity, especially aimed at young adults. According to the Apartment List Survey, those who are 19-29 years old are 42% more likely to be victims of these scams.

With the demand in apartments skyrocketing during the back-to-school season, scammers have been getting creative in listing properties that do not exist or that are copied from legitimate housing sites. They post the exact pictures from another listing online but advertise the rental for a lower rental price to attract students, and, then urge them to sign their lease quickly.

By targeting young adults with no leasing experience, criminals are able to steal thousands of dollars in no time.

How can I avoid rental scams?

• Research the listing: A simple search online with the keywords “complaint” or “review” followed by the housing listing could alert you to a fake listing.
• Check credentials: View the account profile from where the listing was made to check if the user is a legitimate person. If there is little information, such as no pictures or posts attached to the profile, the profile is likely fake. Ask the person who listed the property for a realtor license or business card, or other form of identification. Confirm who owns or manages the property.
• View the property: Make an appointment to view the place in person. If the owner is always unavailable or avoiding an in-person or virtual meeting, it might be a sign that the listing is not real.
• Get a rental agreement: Be sure to receive a rental agreement and carefully review this contract before making any payment. Never provide your social security number or financial information during a pre-approval process.
• Use protected payment options: A credit card offers more fraud protection. Never pay with gift cards, cash, cryptocurrency, wire transfer, or money orders – all methods that scammers request.

Many young adults have reported that they have found fake advertisements on classified listing services such as Craigslist or Facebook Marketplace. After reaching out to the “property manager” showing interest, most of the communication with the scammer took place by text message, and the fraudulent application form asked for the victim’s bank account information, credit card numbers, and social security number. Victims state that the biggest red flag was when the scammers refused to show the place before the application was filled out and sent.

If the housing deal seems too good to be true or if you’re pressured to pay before viewing or verifying the property, it may be a scam. Protect yourself and your money by staying cautious and doing thorough research.

If you believe that you were a victim of a rental listing scam:

• File a police report with your local district.
• Report the fraudulent advertisement to the site where you found the listing.
• File a report with the Federal Trade Commission and the FBI’s Internet Crime Complaint Center (IC3).