Landlords Warned To Prepare For Rise In Tenant Fraud

The events of the past 18 months have dealt a devastating socio-economic impact on private renters in the UK, with an estimated 840,000 building up arrears as a result of covid. Compounding this is the softening of eviction regulations and virtually no consequences for fraudulent rental applications - fuelling a rise in tenant fraud. Rising unemployment and affordability amongst renters are also impacting the number of fraudulent applications. According to tenant due diligence and guarantee firm, Homeppl, there was a 71% increase in the number of fraudulent applications between the second half of 2020 and the first half of 2021 meaning that one in 50 rental applications are now fraudulent, rising to one in 20 in London. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/landlords/landlords-warned-to-prepare-for-rise-in-tenant-fraud.html