Young people across the borough are being warned to be on their guard as new research reveals they are increasingly being targeted by rental scammers.
Rental fraudsters are now typically targeting those between 18-39, according to new research from the Home Office.
Rental fraud often takes place through properties advertised on social media websites.
The fraudsters offer their victims access to properties that do not exist, or which are not theirs to rent, often using fake details and photos, and usually offering prices at well below market rate.
To secure the property or even arrange a viewing, they will usually demand a deposit or the first month’s rent, and many individuals desperate to find a home will make the upfront payment to avoid missing out.
According to the NFIB data, the resulting fraud losses amounted to nearly £9 million across around 5,000 reported cases last year.
The 18 to 29 age group accounted for 48% of all reported rental fraud cases in England, Wales, and Northern Ireland last year, with the 30 to 39 age group accounting for 25%.
Home Office ministers are urging renters to avoid rushing into a quick decision or paying over any money for a property before they have viewed it in person.
Fraud minister Lord Hanson said: Rental fraud is an utterly shameful crime. 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 and crack down on the callous criminals behind it.”
