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What is Custodial?

Our custodial scheme means that you joined mydeposits
for free and transfer the deposit money to us to hold.

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September 10

by Leah Poser
Renters warned about new deposit scam

Prospective tenants are being urged to remain cautious when asked to pay up front deposits after a number of fraud cases have come to light.

Fraudsters are posing as landlords online and using fake rental adverts to trick people into giving them a rental deposit, and in some cases an additional month’s rent, before the property is even seen.

The fake landlord claims that the money will be protected by a Tenancy Deposit Scheme and sends a forged email from one of the three schemes once the money has been received.

As the email confirms that the money has been received by the scheme, victims believe their money is in safe hands, when in reality the money has been sent directly to the fraudster.

Renters are left both out of pocket and without a property to move into.

Often the fake rentals are at a cheaper rate than usual to quickly gain interest from potential occupants. And in some cases the landlord also claims they are living overseas and require the upfront deposit to justify their trip to show the property. 

At mydeposits we are urging renters to always inspect the property in question before giving a deposit and to always obtain a receipt when money is given. If you do receive an email and aren’t sure if it has genuinely come from mydeposits please forward it to info@mydeposits.co.uk and we can tell you if it is a fake.

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