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How Landlords Can Avoid Falling Prey to Scammers

Falsifying documents

The wonders of technology mean it’s much easier these days to make convincing fake ID, and doctor payslips, bank statements and references. As a result, landlords could be duped into taking on a tenant who isn’t who they claim to be, has a bad credit history or plans to run a criminal operation from the property.

Solution: Take your time with the referencing process. Be wary if a tenant offers to pay a large sum upfront to circumvent the usual referencing process.

Subletting

Subletting can lead to overcrowding and increased wear and tear on your property. It may also invalidate the terms of your mortgage and insurance. The bottom line is you need to know how many people live in your property and who they are.

Solution: Make sure your rental contract explicitly bans subletting and carry out regular inspections.

Home hijackers

How the ruse works is a tenant changes their name by deed poll to the landlord’s name and obtains ID. They then put the property on the market for a knockdown price, insisting on a cash buyer and a quick sale (so the sale can be pushed through with as little scrutiny as possible). When the estate agent and solicitor request to see ID as part of the selling process, the scammer shows their newly obtained ID in the landlord’s name.

If no one clicks during the process that something is awry, the buyer can hand over a large sum of cash, thinking they’ve bought a property. While the buyer is the one that ends up out of pocket, the genuine owner of the property may have to jump through quite a few hoops to prove ownership.

Solution: Properties that don’t have a mortgage or have not been sold or mortgaged since 1998 are more at risk. Landlords should ensure their property is registered with HM Land Registry and sign up to receive an alert if an application or search is carried out on the property.

Also, use a letting agent’s services – especially if you don’t live close to the property and can’t carry out regular inspections yourself. 

To find out about our property management services, call Carver Lettings today on 01325 341455 or e-mail lettings@carvergroup.co.uk

Need to Sell Your Property in an Uncertain Market? Read On
 

One minute, the housing market is at an all-time high, the next, newspapers are warning it will plunge faster than a block of concrete in a swimming pool. Finance bods and property experts love to talk up a crisis, but what’s the reality for those wanting to sell?

Well, it’s quite simple: the best way to sell your property in the current market is to bag yourself a trusted, reliable estate agent to do the hard work for you.

In this quick read, we look at reasons why having a good estate agent makes all the difference when selling your property.

Realistic valuations
The first thing you need to know when selling your home is how much it’s actually worth. Yes, you can do your own research using sites like Rightmove or Zoopla, but there’s nothing quite like hiring an expert to know exactly where you stand.

A house that was worth £400,000 in a strong market could be valued at considerably less in a down market, so it’s worth getting an agent (or a few agents) round to value your property.

Sound advice 

When you work with an experienced agent, their advice could help you save money. For example, they can help you understand how long a sale may take, what the local market is like and what buyers are looking for. All these tiny nuggets of info can help you to make a more informed decision about whether to sell ASAP or to hold out.

If you’re looking for a quick sale, your agent can help target your property to potential buyers by advising what works need to be done, whether you need to reduce the asking price and so on.

Marketing 

Do you think your agent just sticks fancy photos of your property online and waits for their phones to start ringing? The good ones do much more than that. They’ll also have a list of potential buyers that they’ll be emailing and calling to discuss your property.

In an uncertain market, getting viewings is imperative to avoid your property becoming stuck in a no-sale limbo, forcing you to reduce the price repeatedly or take it off the market completely. A top estate agent will be marketing your home online, over the phone and face to face, helping you to sell.

Also… 

• Agents are expert negotiators, which is vital in the current climate. 

• In an unstable market, agents will be working harder than ever to sell. 
• They can help move a sale along by talking to the other professionals in your team, such as mortgage brokers or conveyancers.
  
  
• An experienced agent will have worked through many market ups and downs and know how to navigate the changing tides.

If you’re looking to sell your home, give Carver Residential a call today, we’re here to help.