Last year saw landlords struggle with a huge rise in tenancy fraud, particularly in London, research reveals.

The findings from Homeppl, a tenant referencing platform, found that its technology helped clients avoid £16.9 million in losses due to fraud.

It says that for every £1 spent on the firm’s technology, clients saved £22.60.

The biggest issue facing landlords is that 94% of fraud cases involved forged documents – doctored bank statements being the most common.

Most tenancy frauds are in London

The data reveals that 60% of all flagged fraud cases originated in London, with west London experiencing a substantial increase.

Homeppl says that the west London accounted for 40% of all London-based fraud cases.

Also, the average fraudster targeted properties with an annual rental value of £37,598, claiming falsified incomes of £85,945.

https://www.property118.com/landlords-saw-a-big-surge-in-tenancy-fraud-last-year/