2021 Let’s Hit The Ground Running!

 In In The News

Oh wow – January 2021 has already been and gone! Didn’t that go quickly?! We’ve hit the ground running and can’t wait to see what this year has in store for us.

We’ve all heard the buzz, whether it be online, newspaper, TV or talking amongst your family and friends – the rental market is pumping! It gets harder by the day for tenants to secure a property and with the tightening on supply, rents are increasing. The question that we are getting most often is “What can I increase my rent to?” Unfortunately, it’s not a one size fits all answer. Firstly, we need to consider a) are you going to the open market or b) are you renewing a lease with your current tenant? The process and factors we need to consider on these two scenarios are very different and are going to vary dependent on each individual property and the tenancy. It is our aim to offer you the best advice to maximise your return and minimise your risk, which is why we will have an in-depth discussion with you to achieve the best result for you. With the market changing week to week it can be hard for you to navigate the value of your property, so be assured that we have our finger on the pulse and have the knowledge and experience to guide you.

Impersonation scams affecting the property industry
Consumer Protection has recently become aware of the re-emergence of two online impersonation scams that affect the property industry.

1) Payment redirection scam
Payment redirection scams, stem from a larger cybercrime referred to as Business Email Compromise where cybercriminals impersonate a business to trick people into transferring money or sensitive information. Scammers do this by gaining remote access to an email account or using an email address that appears legitimate and almost identical to the trusted business email address. The scammer sends what appears to be a legitimate email request for sensitive information or payment to a new updated bank account.

We have a security procedure in place here at The Property Exchange to combat this. We will always require any changes to bank accounts or email addresses to be verbally confirmed by quoting your security question answers.

2) Fake real estate listings
This involves scammers hijacking a genuine sales or rental listing by changing the contact information, and placing the modified advert on a different advertising site. The scammers often steal their material from real estate websites before including it as their own adverts on ‘free’ listing websites such as Gumtree.

Read the full article here.

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