Updating post from Reddit.
I've been advertising one of my places for just over a week via Openrent (and therefore via Zoopla / Rightmove, etc).
I received a message from a couple who wanted to view the property and they gave a good intro. He worked in finance, she worked in human resources. They were relocating from Maidenhead to be closer to work and friends and they had said they'd have no problems with references and credit checks.
All sounded good but they wanted to move very quickly and begged for a viewing the next day. I said I couldn't as I didn't live close to the property - a single viewing was an afternoon or morning out for me. I explained this to them and that I was not nearby. They would have to wait a few days when I was doing block viewing days. He pushed and pushed - saying he really liked the look of the place, it was close to their friends, they were looking to move fast and it was well within their affordability.
I eventually caved. I showed them around - lovely late 20's couple, polite, asked all the right questions, gave a great impression, no red flags. They said they would contact me later and left with excitement.
That evening I got the inevitable text. He was 'representing a number of well established companies in the area that are looking to provide accommodation for seasoned professionals for periods of between 1 month to 1 year.' My flat had been shown to the others in his organisation and they were ecstatic with the look and location and lucky for me it was just what they were looking for! He was even prepared to offer me a bit over asking to show their commitment and desire to work closely with me in the future [que promote synergy and build lasting relationship]. If I had any other properties these could also be added to this !exciting! opportunity and dead god was he so looking forward to working with me!
I was livid because i'd had to move things around and lose half a day to do a showing at a very busy time.........for what is clearly bullshit. By all means send a message up front about R2R (and be ignored) but to drag me all the way over there to drop a rent2rent scam is a new one to me which I really didn't see coming.
I told him it sounded like a fantastic opportunity but it was something I wanted to sit down and discuss. He suggested a call but I said it's not the way I work with such things. I said I could only meet at Excel London as I was attending a conference with my business partner - but it was perfect because we could all talk about this opportunity!
Of course he went, of course I didn't. He was pissed off but hopefully he will learn a lesson about wasting people's time.
A pointless trip to Excel London is absolutely the right punishment for most offences, well played
Love this 😂
Not as scam just a shitty business practice. Well in for getting revenge though
Brilliant. I hope it was the other side of London for him.
Good on you, hopefully they know how it feels and stop doing that to others. They knew what they were doing, hopefully now they realise it's a really shit thing to do and think twice.
Bravo!
Great revenge! Love it.
Looks like your couple bought one of those “get rich with property” courses
Dude wtf is rent 2 rent? What is this new nightmare?
Same question. We let our property in East London via. a lettings agent. Never heard of this R2R thing. Surely this type of R2R thing is classed as 'professional' (and I use the term lightly) sub-letting, and therefor against the law right?
Rent to rent is a newish thing in the property market. People approach landlords like the couple above. Once then have the property then effectively sublet. They up the rent and they let it out onwards. The more properties they get doing this the more money they make.
It's been heavily pushed by many on tiktok as a day 'be your own boss, make passive income' type scheme where some twenty something is waving a wad of cash at the camera and driving a BMW M3 and the advert cuts to him or her partying in some bar while 'their investments earn'
For the market it's bad because you are working with a landlord who is not the landlord and the price has been bumped because they have to make profit!
The the landlord its bad because it's typically not allowed / legal from a mortgage point of view, the R2R landlords may be bad or just inexperienced at finding good tenants (they'll literally do a number of short term lets within a year not really caring) AND you can't evict easily as the (true) landlord.
So estate agents with extra steps!
Imagine an estate agent taking total control, putting whatever price they wanted and settling absolutely anyone with a pulse.
oh and when things go wrong (such as people suddenly stop paying) they stop paying you and do a runner. You then have to evict (approx 8-12 months) people who didn't even know you existed and really don't care.
why don't you have "no agents, no rent to rent" in the description?
I have this in my advert and still get the enquires through. I've even had 'I know the advert states no R2R but....'
I have 'no agents' but didn't have no R2R. I try to keep the advert as simple a possible without using terms the general public are unaware of (like R2R)....and also they usually just message rather than get you out for a full visit
I have it now though.
I love it
Good work
Well played, very annoying sales tactic he used.
Genius - Is there a funnier location you could have chosen I wonder ?
I just wanted somewhere far into London. However I only just remembered about the Elizabeth line going all the way from Maidenhead to Excel so it was probably just a long journey but didn't have as many stops and changes as I wanted.
Assuming he actually lived in Maidenhead. He lied before, that part was likely also a lie.
I'm reminded of various scenes in Police Academy where Captain Harris ends up in the Blue Oyster Bar.
Re-posting a direct comment for added coverage, apologies.. but I've never heard of this R2R thing. Surely this type of arangement is classed as 'professional' (and I use the term lightly) sub-letting, and therefor against the law right?
Good work, I suggest an upgrade to the Excel appointment is if an event is running then get them to meet you inside after buying a ticket!
r/pettyrevenge
The main point I don't understand is: why the scammers came clean saying what they actually wanted to do?
So far, I came across only 2 types of R2R scammers:
The "professionals" which open up their "magic mushroom business plan" during viewing and don't hide what they want to do, trying to convice you they will take care of all maint issues and be more reliable on rent than a normal tenant.
The "undercovers" who lie to their teeth pretending to be normal tenants, and if you don't spot at screening, you will find out only after they are running the hot beds. Luckily, those are usually easy to spot as their story doesn't make sense, but unfortunately, it can also lead you into missing legit tenants who are just going through a tough time in life.
You've found a new type, which seems to be a clown that starts "undercover" and tries to shift into "professional".
In any case, this R2R thing should be considered a crime, and people doing it should go to jail for scamming landlords and tenants while putting everyone at risk.
The only thing I can think of is they want to get across just how nice and normal they are...and they were. Totally normal couple, polite, energetic. I did walk away thinking 'they're perfect, I hope they message me later'.
This lowers your guard. Maybe it makes some people more amenable to the whole idea.
Given they were very keen to have a viewing that specific day I can only imagine they were playing the doting couple to quite a few landlords that day.
Well done ! You should have also asked for their references, financial info etc stating this is something new to you and you want to perform 'enhanced due diligence'.