A whitepaper published by due diligence and guarantee firm Homeppl, ‘Are you prepared for an increase in tenancy fraud?’ has warned that due to a combination of various factors, landlords should be on high alert for a rise in tenancy fraud.
The paper looked at a combination of job losses among renters, the softening of eviction regulations, and low consequences for fraudulent rental applications, and said that this was combining to create a difficult environment for landlords.
According to the National Residential Landlords Association (NRLA), 11% of renters are currently unemployed – double the UK unemployment rate of 4.8% – and as many as 840,000 private renters in England have built up arrears since the pandemic started in March 2020.
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