Don’t let con-men trick you out of your hard-earned money. Read on to discover what the ‘fake landlord’ scam is and how to protect yourself.
The fake landlord trick has been around for years, but current market conditions mean that some renters are particularly vulnerable to this con right now.
A con man posts a property for rent online, complete with photos (usually stolen from a legit website, such as Daft or MyHome). Often, they advertise on online community noticeboards so they can take advantage of free listings.
The property advertised is reasonably priced or even below market value. Once the prospective tenant contacts the ‘landlord’ online to express an interest in the property, the real fun and games start.
The scam can play out in various ways, but most commonly, the ‘landlord’ claims that there’s huge competition for the property and to avoid missing out, you need to act quickly.
The tenant will be urged to pay a deposit up front for a property that they haven’t viewed in person and without meeting the landlord.
Once the money is paid, the tenant never hears a peep from the so-called landlord again, and the con man is literally laughing all the way to the bank.
Cormac Finlay on Tuesday, October 25, 2022 in blog, estate agents, Landlord, liberty blue, property advice, property investment, Property News and Advice, property rental, rental prices, renting, tenant, Waterford
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