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With the new academic year approaching and CAO offers being released, many students are on the hunt to secure accommodation in time for September.
As the renting market is very tight at the moment, parents and students need to be vigilant and protect themselves from being scammed.
Over 250,000 students are expected to return to college this year, with over 100,000 living in the private rental market, as previously indicated by 2023 figures.
The limited supply of purpose-built student accommodation results in many students having to look elsewhere for available properties, which can result in some falling victim to sophisticated scams.
Look out for red flags
The most common pitfall for students is that they miss or overlook red flags in their rush to secure accommodation, according to Niall Gaffney founder of Studenthouse, a Dublin-based student accommodation specialist.
“The pressure of a competitive rental market can lead students to take risks, hoping to secure their ideal home, even when encountering warning signs during the application process.
"Interestingly, many rental scam victims tend to be more upset about losing the property than losing the money. While most rental offers are legitimate, it’s important to approach them with a healthy level of scepticism,” says Niall.
Top five tips to prevent rental scams
1 Focus on the landlord or agent
Try to verify the identity of the landlord or agent rather than just focusing on the property.
Most properties used in scams are real, but the person offering them is often not who they claim to be. Confirm their authenticity, and whenever possible, meet them in person.
2 Use secure payment methods
Always use secure payment methods like bank transfers. Pay attention to the IBAN number – specifically, the first two letters that indicate the country and the bank code, which can reveal if it’s a traditional Irish bank or a digital one.
3 Trust your instincts
If something doesn’t feel right, it’s worth considering why. Be wary of deals that seem unusually good, application processes that are too smooth, unsolicited rental offers, or landlords and agents who push for quick decisions.
4 Think prevention, not recourse
One of the strongest preventative measures is using a rent escrow service, where funds are held securely until you’ve moved in.
It’s important to remember that most banks won’t offer fraud reimbursement if you’ve authorised the payment, so taking steps to secure your transaction upfront is crucial.
5 Slow down, pause, and reflect
Don’t rush into decisions. Slowing down the process and taking time to pause and reflect can make a significant difference. Discuss your situation with a friend, family member, or a housing support service to gain a fresh perspective.
Supports available
National housing charity Threshold has partnered with the Irish Council for International Students (ICOS) and the Union of Students Ireland (USI) as part of its annual ‘Scamwatch’ campaign to raise awareness around ever-more elaborate fraudulent scams.
With so many students entering the rental market for the first time they are urging those who come across suspicious adverts to reach out. Their team can provide support, and potentially prevent students and other renters from falling victim to scams.
For more information and tips on avoiding scams visit: threshold.ie or freephone on 1800 454 454.
USI Vice President for Welfare, Niamh Doherty emphasises the importance of getting the proper advice when it comes to accommodation scams.
“You need to be aware of your rights when it comes to renting. There is a lot of dos and don'ts like never giving a landlord money and paying rent without seeing the apartment or house first.
"That has been a thing at the moment where students are paying money and there is no such thing as that accommodation,” says Niamh.
Students can get desperate, and it can be really easy to fall victim to scams at the moment. “We hope this campaign can guide them on what to look out for and how to spot a scam if they encounter one.
"USI advises everyone looking for student accommodation to look at the dedicated Threshold webpage and to reach out to USI or your local Students’ Union if you need help or support on this or any issue,” says Niamh.
You can listen to more advice from Niamh on this week’s Young Stock Podcast below:
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