5th
Mar 2025
Recent research indicates that young tenants face a growing threat of rental fraud.
According to newly released Government data, individuals aged between 18 and 39 make up nearly 75% of all reported rental fraud cases.
This information comes from the National Fraud Intelligence Bureau (NFIB) and was shared by the Home Office.
Rental scammers often lure victims with enticing offers for non-existent or unauthorized properties using fake details and photos to advertise these properties at prices significantly below market rates. Fraudsters commonly insist on receiving a deposit or the first month's rent upfront to secure the property or schedule a viewing. Sadly because demand outstrips supply many applicants will make this payment to avoid losing the opportunity.
The NFIB data reveals that rental fraud resulted in nearly £9 million in losses across approximately 5,000 reported cases last year. Applicants aged 18 to 29 comprised 48% of these cases in England, Wales, and Northern Ireland, while those aged 30 to 39 accounted for an additional 25%.
The Spring months see a surge in students and young professionals searching for rental accommodation and Home Office ministers are advising renters to take their time in making decisions. They emphasise the importance of viewing properties in person before making any financial commitments to avoid falling victim to rental scams.
As rental scams frequently occur through properties listed on countless social media platforms, the government is urging tech companies to intensify their efforts in combating fraud. This renewed call for action comes ahead of the next Joint Fraud Taskforce meeting, scheduled for later this month.
Fraud Minister Lord Hanson said: “Rental fraud is an utterly shameful crime, and this new data should serve as a stark reminder that anyone can be a victim. It doesn’t matter how streetwise and tech-savvy you are, fraudsters will get to anyone who doesn’t stop and think before handing over their money.
“That’s why I am determined to root out fraud from our society, crack down on the callous criminals behind it, and ensure that stronger protections are put in place by the tech companies on whose platforms much of this fraud takes place.
“The Home Office will be making progress on all of those issues through the next phase of our Stop! Think Fraud campaign, and the new, expanded fraud strategy we are developing this year as part of this Government’s Plan for Change.”
The release of these new figures coincides with the National Cyber Security Centre (NCSC) – a division of GCHQ – launching the second phase of a national campaign. This initiative encourages individuals and small businesses to implement 2-step verification (2SV) on their most crucial accounts.
By adding an extra layer of security, 2SV significantly reduces the likelihood of attackers gaining access to your accounts, even if the fraudsters are able to copy your password.
A spokesperson for a trade the association welcoming the government’s initiative, said: “We support the campaign to reduce fraud in the rented sector, so it is disappointing to see these figures as ultimately, no one wants to see fraudulent activity particularly targeting young people.
“Importantly, these figures highlight the need for greater action from government to fully regulate property agents and where regulation already exists such as for letting agents in Scotland and Wales, the need for greater enforcement action.
“Extending and strengthening regulatory requirements for all letting agents will not only provide greater protection for consumers as agents would need a licence to operate but will arm enforcement bodies with the information they need to filter out rogue operators.”
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