Facebook Marketplace has grown in popularity quite significantly since its launch in 2016. It is now used by one in three people in the United States! Not only can you find everyday items on there for sale, but it’s also a great place to find a rental.
Due to the popularity of social media, landlords have had to adapt and use different methods to market their properties properly both online and offline. Creating rental listings online has widened the market and made searching for a rental a lot easier for prospective tenants and landlords too.
Facebook Marketplace is one of those many places, however, it does come with a set of red flags that you should look out for. Here are some of our tips on how to find a rental in the marketplace and some things to be aware of.
Always verify personal information
Unfortunately, there can be quite a lot of fake accounts lurking around on Facebook Marketplace and on social media in general. So, it’s important to verify personal information as quickly as possible before viewings take place and/or money gets exchanged. Certain questions you an ask may include proof of ID, to ensure that the person you’re speaking to is who they say they are.
Look at the listing images closely
It’s important to note that some people may upload images of the rental that aren’t their own or do not reflect the current state of the property, so you need to stay vigilant. If the pictures on the listing aren’t of great image quality and are quite unclear, this is most likely a sign that this is a listing to avoid. Most landlords would have high-res photos of their property.
Rental costs
If it’s too good to be true, it probably is. If you come across a listing that is extremely cheap for the area and property, that’s probably a bit of a red flag. Don’t be afraid to inquire into this further with the person posting. There may be something off with the property itself, the area or worst case could be a false listing. Equally, if you see a listing that has a much higher rent than the properties you’ve been looking at of the same calibre in the area, you should be a bit wary.
Odd application process and deposit requirements
This is usually where prospective tenants trip up on Facebook Marketplace. Be very careful of the poster’s requirements when it comes to things like making a rental application, paying deposits and attending viewings. It’s important to ensure that you’re protected.
You can explore Facebook Marketplace, here. To read a bit more about red flags you should look out for as a tenant, take a look at our previous post: 5 Red Flags for Tenants.
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