Propertymark says recent data from the National Fraud Intelligence Bureau has given demographic details of likely rental fraud.

The NFIB data shows individuals between 18 and 39 account for nearly 75% of reported rental fraud cases, resulting in losses nearing £9m last year, across approximately 5,000 incidents. 

“Property professionals must be vigilant and proactive in combating rental fraud to protect consumers and themselves” suggests the trade body.

It says that by implementing rigorous verification processes, educating clients, and staying informed about the latest scam tactics, agents can significantly reduce the risk of fraud and maintain the integrity of the rental market.

To safeguard both clients and the reputation of legitimate agents, consider the following strategies:

• Verify property ownership – Ensure all landlords have legitimate ownership or management rights for the properties they let or wish to let. Confirmation can be confirmed through Land Registry checks or official documentation;

• Conduct thorough tenant screenings – Using comprehensive referencing services to validate tenant identities, employment statuses, and rental histories will reduce the risk of accepting fraudulent applications;

• Educate prospective tenants – Inform applicants about common rental scams, advise them to avoid making payments before viewing properties in person and be cautious of deals that seem too good to be true. Adverts with no photos or where multiple adverts have the same photos should raise a red flag;

• Maintain transparent communication – Provide clear and consistent information throughout the rental process. Ensure all terms, fees, and conditions are documented and accessible to clients.

A statement from Propertymark says rental fraud happens when prospective tenants are tricked into paying an upfront fee – typically, however, the property does not exist, has already been rented out, or has been rented to multiple victims.

Fraudsters will often contact their victims online. The adverts will seem genuine and are n accompanied by photos and contact information. In some cases, the victim will view the property in person, but in most cases, the payment is made without a prior viewing. 

The peak of the problem occurs each September when fraudsters target students organising their accommodation for the academic year. Summer holiday lets in July and August are also a key target.