by St. Paul's CU
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by St. Paul's CU
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Fraudsters are continually coming up with new ways to convince students to hand over deposits for properties that don’t exist or have already been rented to multiple tenants, with some even going as far as sending a fake contract and fake keys. They prey on students who feel panicked due to accommodation shortages and pressure them into paying a deposit without doing the necessary checks.
Remember if its too good to be true it probably is!
Our advice to students and parents:
- Familiarise yourself with the average rent price in your search area. If the rent is unusually low and it seems too good to be true, it usually is!
- Do your research, check the Eircode and visit the accommodation to make sure it exists as advertised.
- Check short-term rental sites to ensure the property is not being used by a fraudster for “viewings” who will take your deposit money.
- It is crucial to keep copies of all correspondence between you and the advertiser, including bank details and the advertisement itself. The best approach is to use legitimate well-known rental agencies. If this is not possible, don’t hand over any money until you have seen the property and are happy with its condition.
- Do not make payments until you have been given the keys and signed the rental contract.
- Always check that the keys fit in the lock.
- Remember, don’t transfer any money unless you have carried out all the relevant checks and you are absolutely sure that the listing is genuine.
- Do not be embarrassed if you have been scammed. Report it to your local Garda Station and contact your bank.
By staying alert and taking steps to protect yourself, you can reduce your risk of falling victim to fraud and avoid becoming target for scammers.