Landlord Action supremo Paul Shamplina has endorsed a new PropTech tool aimed at stopping landlords falling victim to fraud.
Title Guardian claims to monitor digital sources such as lettings portals and government databases including HM Land Registry and Companies House, where property details appear and where fraudulent activities begin.
If suspicious activity is detected, the property owner receives alerts via SMS, email and app so a potential fraud threat may be stopped.
The people behind the tool claims it helps combat unauthorised tenant activities including unapproved sub-letting.
Other threats include tenants using rental addresses to set up companies. These activities expose landlords to potential insurance, mortgage and legal issues.
There is also the threat of title fraud, where fraudsters impersonate property owners to change title deeds and steal property – a crime that’s more prevalent when the owner does not reside at a targeted property.
In publicity for the launch of the tool Shamplina says: “From a landlord’s perspective, the arrival of Title Guardian is a welcome and vital tool to safeguard a portfolio. Both for title fraud protection and also to help landlords protect against property mis-use by tenants, Title Guardian changes the game. It’s a new-level of protection that’s much-needed.”
The tool’s creators say it’s already prevented three potential cases of property-related fraud in the first three weeks of being live - including the rental listing of a property without the owner’s authority or knowledge.
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