Landlords Need to be Wary of Fraudulent Tenants

by Property118.com News Team

10:53 AM, 27th January 2012
About 7 years ago

Landlords Need to be Wary of Fraudulent Tenants

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Landlords Need to be Wary of Fraudulent Tenants

Landlords have been warned of tenants fraudulently filling out tenancy agreements with fake names and barely paying rent.

Let Insurance Services say similar cases involving landlords are on the increase and the lack of available credit for some after the credit crunch could be to blame.

Michael Portman, Managing Director of Let Insurance Services explained more: “Tenant fraud is a growing problem for agents and landlords alike. And there is no sign of it easing in 2012, so it is essential that agents have a checklist for new tenants that includes obtaining ID documents and proof of current residency at an early stage of the tenancy application. Agents need to be alert for anything unusual that could increase the risk for the landlord.”

They believe landlords should do more to reference tenants, previous landlords would not be enough as they may simply want rid of them. Employment references and even proof of payslips would be a better option, along with a reference from another landlord.

Proof of address from bills is also vital since tenants often provide false details of a previous address. This can often be as an attempt to deceive referencing companies so landlords and letting agents need to ensure they are thorough in their processing of tenants.



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