Tips to protect yourself from property scams

The excitement of getting a new home can feel endless. Whether you're still saving to buy a property or preparing to move into rental, there's nothing quite like imagining the comfort of your own space.

But, amid all this excitement, it's important to stay cautious, especially when it comes to property scams that can catch you off guard. According to Property24, common property scams often include rental fraud, title deed fraud, double sales, phishing schemes, government housing assistance scams and timeshare fraud.

These scams are becoming more concerning as more people enter the rental market. JustMoney.co.za warns that rental scams often involve fake listings on social media, where scammers lure potential tenants with unusually low rental prices and create a false sense of urgency by claiming the property is in high demand.

Sarah Nicholson, operations and sales manager for JustMoney.co.za, a trusted voice in the personal finance sector, notes ways to identify property cons:



• Requests for money upfront when wanting to view the property.

• Requests for personal information such as your ID number early in the process.

• Pressure tactics: pressuring you to pay before other people do.

• Landlords that don't want to meet in person and offer video calls only.

• Fake lease agreements sent before any property is seen.

• The price seems too good to be true for a popular area.

• Poor and vague sentences in the descriptions of the property.



Ways to avoid property cons:

Property24 offers several tips to avoid falling for the scams:

• Use a reputable estate agent.

• Use secure platforms for transactions.

• Insist on meeting with the agent at their office or in person before viewing property.

• Never pay money upfront.