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News Article

"In May, you MUST give your Tenants the Renters Rights Information Sheet or

YOU RISK  - £7,000 FINE  PER TENANT PER PROPERTY."READ MORE

Landlords Warned Beware Of ‘Highjacking’ Property Fraud

23rd Mar 2022

Landlords have been warned to be vigilant against rising numbers of ‘highjacking’ property fraud cases across the UK, according to a London lettings agency.

Image credit: Pexels

Marc von Grundherr, director of the lettings agency, clarifies that the term ‘highjacking’ is when a supposed ‘tenant’ uses fake documents and in many cases change their name by Deed Poll to ‘adopt’ the landlords name on the tenancy agreement.

Once the scam artist uses the fake documents and the landlords name they then quickly put the property up for sale with an estate agent.

Once the property is sold and solicitors proceed with conveyancing it is extremely hard to find any discrepancies so the sale is completed. The criminal receives the sale’s proceeds which is immediately transferred to an overseas bank account, leaving the legal owners without any chance of ever retrieving the money.

Another way these criminals target properties is by viewing details on HM Land Registry’s website which is open to anyone.

Von Grundherr advises landlords they can contact HM Land Registry to register an anti-fraud restriction on properties.

He says: “This means that any application to register a sale or mortgage on your property must be certified by a solicitor confirming they are satisfied the person signing the documents is the registered proprietor.  If not, the application will be blocked. This also acts as a deterrent to would-be fraudsters.”

Von Grundherr also offers further advice to landlords on how they can protect themselves further from property fraud.

Vigilant tenant referencing: Stringent and accurate referencing is of the utmost importance; however it can be a complicated process so it is a good idea to use an independent tenant referencing company to undertake the checks, as well as to safeguard against faked documents i.e. utility bills and bank statements.

Use a professional lettings agent: Let your property through a professional lettings agency that’s a member of an industry organisation of estate and lettings agents.

Check your credit rating: Keep up a regular check on your own credit score using Experian or similar credit agencies to keep you up to speed of any attempts at identify theft.

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"In May, you MUST give your Tenants the Renters Rights Information Sheet or

YOU RISK  - £7,000 FINE  PER TENANT PER PROPERTY."READ MORE

 

 

 


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Fit for Habitation|March 2019 The ACT is intended to define minimum standards a rental property MUST be and makes a clearer pathway way for Tenants to be compensated|https://www.pims.co.uk/fit_for_habitation_act_march_2019/ Guarantor|The person who provides a guarantee and promises to make payment good should the person responsible for the agreement fail|http://www.pims.co.uk/guarantors/ MEES|The Minimum Energy Efficiency Standard (MEES) Landlords are charged with the requirement to bring their rental property to a minimum EPC rating of E. Property with F and G rating will effectively be banned from the rental market April 2018 |http://www.pims.co.uk/epc/ Section 11|Section 11 of the Landlord and Tenant Act 1985 places an obligation on the landlord to maintain the structure and exterior of the property, including installations for the supply of water, gas and electricity, heating systems, drainage and sanitary appliances|http://www.pims.co.uk/landlord-section-11-repairs/ serving date|This date is the date deemed received at the property - as an example if posted allow for posting days|/serving-notice-on-a-tenant-delivery-days/ Tenancy Application|The objective of vetting is to empower yourself so you can make an informed decision as to the calibre of the prospective person. Making your decision on facts and figures is invaluable and this is why you should always take references. The application form also provides you with permission to perform credits. This form details all the information you should ever require deal with most eventualities including absconding tenants|http://www.pims.co.uk/doc/57/ Tenant Fees|From June 2019 where renting properties in England gone are the days of charging for admin, letting fees, vetting, references, inventory, check in, check out, cleaning, pet insurance or ANY other fee that is not explicitly permitted within the legislation. |https://www.pims.co.uk/ban_letting_fees_act_2019/