Growing Problem for Marketplace Property Rental Scams
Popular marketplace and social media platforms are a growing problem for property rental scams across the United Kingdom; find out where fraudsters are and how to avoid falling victim to rental scams…
Gumtree has been the face of property rental scams up and down the United Kingdom in recent years; with one couple losing out on over £1,500 as reported by the Mirror, whilst another targeted for £800, reported in February 2020 by WalesOnline.
According to an online source, a spokesperson for Gumtree says the popular classified advertising and marketplace platform takes fraud very seriously, however rental scams continue to pop up across the website.
From fake properties, already occupied homes and extortionate deposits with disappearing landlords, Gumtree can often be a rental scam minefield for tenants.
There can of course be benefits of renting directly from a landlord such as bypassing fees and savings hundreds — Although, the hundreds saved could result in thousands lost for tenants to fraudsters committing rental scams if you’re not careful.
The Common Overseas Landlord Rental Scam
In some cases, classified advertisements see fraudster posing as a landlord who’s currently out of the country and can’t offer a property viewing. The end result in this rental scam involves asking tenants for a bond, rent payments or deposits in advance. However, once this transfer has been made, it’s often the case the landlord has disappeared with your money and the keys will never be handed over.
More often than not, the red flags of this rental scam include too-good-to-be-true rental prices, unavailable landlords and payments in advance — Be aware and save your time and money from this overseas landlord rental scam.
How Can I Protect Myself From Marketplace Rental Scams?
Protecting yourself from falling victim to rental scams on classified advertisement and social media platforms can be simple. Below, we’ve compiled a list of a few to consider and keep in mind next time you’re negotiating a property rental with a potential fraudster:
- Research the contact information of landlords; such as phone numbers, email addresses etc. You may find these same details used elsewhere on the internet for other property rental scams.
- Avoid sending money; especially when odd payment methods are requested.
- Check nearby properties and make sure the landlord isn’t offering something too-good-to-be-true.
- Remember, if a landlord is overseas and a viewing of the rental property isn’t feasible any time soon, this is a serious red flag.
Gumtree do however offer advice when messaging sellers on their website with red flags to look out for.
Rental scams don’t just occur on Gumtree, as Facebook Marketplace has also been a talking point for property fraud; and even on the most popular social media platform, precaution should be taken when dealing with landlords.
Reported by TheNegotiator in September, 2017, two women from Devonshire were victim to a £1,200 rental scam as images and property descriptions were taken straight from Rightmove and placed on Facebook.
Conclusion
Considering our usage of the internet grows much quicker than we can imagine; the possibility of property rental scam will continue alongside. Making many victim to the loss of hundreds if not thousands of pounds.
Following the steps above and with further research, the knowledge, understanding and awareness of how property rental scams occur online means you can keep your money safe.
