In South Africa, renters and landlords have increasingly fall victim to rental scams, with fraudsters becoming more sophisticated. These scams involve various tactics, such as posting fake property listings, impersonating agents, and tricking tenants into making fraudulent payments. Often, scammers advertise properties that are either non-existent or already occupied, offering them at below-market rates to attract renters. Unfortunately, many tenants end up losing money after paying deposits for properties that they can never move into. Landlords are also being targeted, with scammers posing as potential tenants.
In some cases, these fraudsters fail to pay rent after moving in or sublet the property to multiple tenants without the landlord's knowledge. This leaves landlords in difficult situations, as they face lost rental income and potential legal issues. To protect themselves, renters are encouraged to verify the legitimacy of property agents and avoid any dealings that seem too good to be true. Confirm with the Property Practitioners Regulatory Authority if the agent has a valid Fidelity Fund Certificate and operates legitimately. Funds should always be held in a Trust Account which is protected by law. They should also be cautious when pressured to make quick decisions. Landlords, on the other hand, are advised to thoroughly vet potential tenants, checking references and conducting background checks to minimise the risk of falling victim to scams.
PLEASE BE VIGILANT AND ALWAYS WORK THROUGH A TRUSTWORTHY REAL ESTATE AGENCY LIKE SEEFF PINELANDS
