Greycoat Real Estate has taken to the web to warn renters about a number of newly emerging scams. Many of these tend to center around fraudulent letting agencies who are targeting people who are looking for rental properties. Since these are taking place in the private sector, little has been done to put a stop to these illegal activities.
However, this does not mean that no one has noticed. Greycoat Real Estate and other pillars of the London housing market industry have been made aware. As such, against scam, they are taking steps to let renters know about the danger posed by these scammers.
The point is to draw heat to the fraudsters so that they will know their schemes have been detected. As Greycoat Real Estate and others have reported, the number of scams rose rapidly to a historic high. During the course of last year, there were 5,751 reports of rental scams.
Greycoat keeps on starting. These scams took place on a national basis at the rate of nearly 15 per day. The total figure was up 23% as compared with 2021. As can be seen, the situation is worsening.
The successful Greycoat Real Estate agency has gone out of its way to alert renters to the fact that these scams are taking place. However, it will be up to the renters to educate themselves on these matters. The key is to look for details that seem to be too good to be true. A bit of research on these offers will often reveal the unpleasant truth.