A few years ago we had a client who came to us to sell his property. Previously had thought he had a great tenant, however whoever it had been let too they had then advertised the house and taken the first months rent and 6 weeks deposit from several people. Naturally all of these people lost their money and the original supposed tenant was never seen again.
This you might think is a very isolated incidence, however recent research has highlighted the tragic fact that in the year to March 2018 there were 18,645 victims of rental fraud, with an average cost of £1,396 each.
Pauline Smith, director of Action Fraud said it’s not just people renting a home but also students looking for rooms and holidaymakers also.
Using a reputable agent is a safeguard that all tenants should be mindful off. Agents can easily check that full information and verification has been carried out on landlords. Like all reputable agents we get full landlord ID, and check that the person or organisation we are acting for is the actual owner. For many years the professional bodies for our industry; ARLA, NAEA and RICS, have been campaigning for legal registration of estate agents, this would give tenants extra protection. Somehow it seems the government have other things on their minds…