A few months ago we warned unoccupied property insurance clients to be on the look out for fraudsters who might use an innocent owner’s property to make a quick profit. Another case was reported recently, this time in London. The conmen posed as agents and advertised a flat for rent. Those applicants wishing to proceed paid deposits of £2,000 each and were given a date when they could move in. When they tried to do so they discovered that several people had fallen for the same trick and were all trying to move in to the flat. The so-called agents had disappeared with more than £20,000 in deposits on the same property.
Scams such as these can be successful due to the high demand for rental property in the capital. There is a severe shortage of rental property in London which is leading to higher rents, so when an opportunity arises for a tenant to bag a bargain property, they jump at the chance. With most things in life, if it’s too good to be true – it usually is!
It is very important to keep an eye on your unoccupied property and who has access to it. If you need insurance contact www.click4quote.com