According to Property Reporter, the number of fraudulent lettings has increased in the last few years, especially across the major UK cities. The most common scams usually occur during deposit payments by fraudulents who disappear as soon as money has been exchanged. Due to many students and young professionals wanting to put down money on a property as soon as possible, these exchanges can happen quickly, with tenants doing little research beforehand. In addition to this, potential tenants often provide confidential information, including banking codes and personal details as part of the reference check, to these illegitimate landlords. These details can then be used to scam more money from the individuals at a later date.
Several property associations are currently highlighting the importance of educating tenants to use established agency services to avoid this happening. They want to ensure that tenants’ money is being legally handled and deposits are registered with correct schemes and procedures. However, transparency isn’t only a matter of importance for students. It can also help landlords. If landlords can prove that they are reputable and trustworthy, they are more likely to be able to let their property, and can build a better relationship with their tenants.
Mistoria Group is a selection of bespoke companies, and therefore, we are able to deal with your property needs from start to finish. By investing with Mistoria, as a landlord, you will be able to build a relationship with our team of qualified professionals at every level. Your property will be let under the Mistoria name – the mark of quality and the guarantee of a highly professional service and support for tenants. Indeed, for tenants looking for a property, the Mistoria name ensures not only a reputable landlord, but a whole team of maintenance, furnishing and renovation specialists, meaning your new property is in safe hands.
If you are looking to invest in property, and like the sound of a team with more than 80 years combined UK property investment experience, take a look at our investment section to view the range of property and investment types we have available. Send us an enquiry through our contact form or call us on 0800 500 3015 to talk to a member of our North West property investment team.