Avoiding Rental Fraud
Category Property News
As a landlord, the most common rental fraud occurs when a tenant misrepresents themselves, and then fails to pay rent timeously.
Reputable estate agencies use credit bureaus to evaluate clients' complete credit history in order to determine their credit score, as well as verify their paperwork with the relevant references to ensure their legitimacy.
There are many "red flags" that are overlooked when dealing with potential tenants, which could lead to issues during the lease period.
Documents should always be verified by attorneys and institutions to ensure that they are authentic.
When dealing with potential tenants, be aware of;
- Spelling errors on documents or messaging systems
- Sudden changes to the terms of the original terms of agreement
- Strange behaviour such as refusal to speak over the phone
Enlist the assistance of an agency to ensure all precautions are taken and that you are safeguarded in making informed decisions.
Author: Prime Property Marketing
