Be Alert! Fraudulent Tenants Continue to Slip Through the Cracks

Be Alert! Fraudulent Tenants Continue to Slip Through the Cracks

10 September 2021

Ask any landlord and they will tell you that the ideal tenant is somebody who pays their rent on time, has a stable job, and respects and looks after the property. You know, the basics. But, sadly, there has been a sharp increase in renter fraud which is leaving many landlords in a bit of a mess.

According to Propertymark, there have been cases up and down the country of applicants telling lies in order to get accepted.

As time goes by, this is then discovered as landlords are left with the horror of rent arrears, non-permitted sublets or, even worse, finding out that their properties have been used to run illegal businesses.

With the average Joe becoming more and more tech-savvy and fraudulent acts becoming increasingly harder to spot, how can you as a landlord have peace of mind that your tenants aren’t pulling the wool over your eyes?

Well, here at Wards, as your local property experts with years of lettings experience, we can take those stresses away.

We carry out rigorous checks on all potential tenants before we approve any tenancy. We check IDs, proof of employment, previous landlord, and we run a credit history check, verify their right to rent and, of course, their guarantor information. We can also use open banking to scan real-time spending patterns and verify income is as declared – two great ways to catch out the scammers who try to falsify paperwork!

You really can have peace of mind that the i’s have been dotted and the t’s have been crossed.

You might be thinking “But Wards, my tenants could still provide all the relevant information, pass the checks and couldn’t the worst still happen?”

Of course, we get that there are never any guarantees in life. Circumstances change all the time but we have built-in safeguards against surprises.

With regular visits to the property, we are able to maintain a watchful eye over your investment and we even offer guaranteed rent protection so you can avoid being left suffering from rent arrears with assured income for up to 15 months should the very worst happen!

Your local lettings experts are here for you every step of the way, so speak to us today and let’s discuss how we can offer you complete peace of mind.

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