𝗟𝗮𝗻𝗱𝗹𝗼𝗿𝗱𝘀: 𝗔𝗿𝗲 𝘆𝗼𝘂 𝗮𝘁 𝗿𝗶𝘀𝗸 𝗼𝗳 𝗥𝗲𝗻𝘁𝗮𝗹 𝗙𝗿𝗮𝘂𝗱?😟🪪

𝙒𝙝𝙖𝙩 𝙄𝙨 𝙍𝙚𝙣𝙩𝙖𝙡 𝙁𝙧𝙖𝙪𝙙 𝙖𝙣𝙙 𝙎𝙝𝙤𝙪𝙡𝙙 𝙔𝙤𝙪 𝘽𝙚 𝙒𝙤𝙧𝙧𝙞𝙚𝙙?

With the cost of living crisis dominating headlines, it's important to note that the fallout of an economic downturn can be a costly one for landlords. 

While issues such as unpaid rent, tenant disputes, and loss of employment are always a risk, these are more prevalent during recessions. 

In addition, rental fraud is on the up, so it’s essential to protect your investment and be on high alert. 

There are two types of fraud landlords need to be aware of. 

𝟭. 𝗙𝗮𝗸𝗲 𝗱𝗼𝗰𝘂𝗺𝗲𝗻𝘁𝘀

Fake documentation includes doctored payslips and bank statements, bogus references and forged proof of identity. With sophisticated software, it can be hard to tell which documents are real or not, so thorough reference checks are more important than ever. 

A phony tenant could cost a landlord upwards of £30,000 in unpaid rent, legal costs, and eviction orders. 

𝟮. 𝗦𝘂𝗯𝗹𝗲𝘁𝘁𝗶𝗻𝗴 𝗿𝗼𝗼𝗺𝘀

Rents are at an all-time high and some tenants may supplement their rent by subletting rooms without agreement from their landlord. 

Landlords should be wary of subletting due to the following reasons: 

✔️Could cause a landlord to default on mortgage/insurance terms

✔️Loss of control over the rental property 

✔️It’s harder to evict a subletting tenant 

✔️Property maintenance issues could go unreported

𝗛𝗼𝘄 𝘁𝗼 𝗮𝘃𝗼𝗶𝗱 𝗿𝗲𝗻𝘁𝗮𝗹 𝗳𝗿𝗮𝘂𝗱?

Use a trusted and experienced letting agent to find and vet prospective tenants.

Unfortunately, fake documentation is becoming more common, and agents know what to look out for and which questions to ask.

As well as carrying out regular inspections to avoid issues related to subletting.

By skipping the reference stage or asking for minimal documents, landlords are at a higher risk of being defrauded.

If you’re a landlord concerned about rental fraud, contact our team at NGU Homes to discuss how we can help, and make sure to save the video below for future reference!

𝗜𝘁'𝘀 𝗼𝘂𝗿 𝗷𝗼𝗯 𝘁𝗼 𝗴𝗲𝗻𝗲𝗿𝗮𝘁𝗲 𝘆𝗼𝘂 𝗹𝗼𝗻𝗴 𝘁𝗲𝗿𝗺 𝘄𝗲𝗮𝗹𝘁𝗵 𝗳𝗿𝗼𝗺 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝘆 💷

For any sales, lettings or refurb help, contact us today by phone or email to move your property to us;

✔We'll contact your letting agent to ensure a seamless tenant transfer, including the deposit, keys and all paperwork.
✔We'll contact your tenant to resolve any rent, maintenance, or refurbishment issues you have, arranging a property visit if required.
✔We'll begin the process of maximising your income and wealth.

☎️ 0191 491 0344 - Option 1

NGU Homelettings, Sales & Refurbishments