Barclays issues warning on rental scams – tips on how to stay safe

Those looking to rent have become faced with an abundance of fake property ads, unsanitary spaces and sky-high prices due to the sheer demand for rentals not only in the capital but around the country – so, it’s certainly no surprise that scammers are taking advantage of this.

To advise on the warning signs to look out for when searching for a rental property, alongside tips on how to best protect yourself and loved ones against these scams, Ross Martin, Head of Digital Safety at Barclays shares his guidance below –

“Scammers will capitalise on tenants looking for the best rental deals in London, by offering what looks like an incredible space at the perfect rent. If it ever seems too good to be true, it probably is.

“It’s important to be hyper vigilant when looking for places to rent, and always make sure you ask the right questions and for the relevant documents to prove that the person or company you’re renting from is legitimate.”

Ross shares his top tips on how to stay safe when looking for rental properties:

Use reputable tenancy agencies: look for well-known, credible companies that have reviews online – even better if you know friends and family who have used them before. Scammers can pretend to be from these agencies, so it is always worth finding their official website and contact details.

Check the price – if the rental price is vastly different to the typical price of properties in the area, this may be a warning sign. Make sure you are checking what’s included and how much the agency is asking for up front when speaking to your agent.

View the property – make sure you attend a viewing of both the inside and outside of the property before entering into any agreement, or parting with any money. Scammers often try to persuade their victims to pay a deposit before viewing a property.

Request legally required documents – this could be an energy performance or a gas safety certificate.

Speak to a trusted friend or family member – if you’re ever unsure, consult someone you trust before making any decisions. It’s always best to get a second point of view when making large payments, or entering into legally binding contracts.