As the beginning of the academic year approaches, the Property Services Regulatory Authority (PSRA) has warned students seeking accommodation to be aware of scams.
Although student accommodation will be in extremely high demand this year, students must remain vigilant and should follow some essential advice.
For those engaging with a letting agent, it is important to ensure the agent is licensed by the PSRA.
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The PSRA has advised students to be aware of the risk of bogus letting agents attempting to extract financial payments from prospective tenants.
In some instances, these bogus agents may claim to have a valid PSRA licence number, as Property Services Providers such as Letting Agents, Auctioneers, Estate Agents, and Management Agents operating in the Republic of Ireland must hold a PSRA licence to provide a property service.
Licensed Property Services Providers are regulated by the PSRA, which ensures that the consumer is protected.
When engaging with a Property Service Provider in their search for accommodation, students should ask to see the Property Service Provider's licence and note the details, particularly the licence number.
The individual licence is a credit card-sized licence containing the licensee's name, photographic identification and a unique six or 12-digit PSRA licence number, always beginning with a double zero.
This licence number can be checked on the PSRA Register of Licensed Property Services Providers to ensure that the licence is valid and in date and that the provider's details match those on the Register.
The PSRA has previously received reports of fake letting agents targeting students at this time of year.
Bogus agents often set up online and may purport to hold a PSRA licence.
The CEO of the PSRA, Ms Maeve Hogan, said: "Students starting and returning to college need to be vigilant of bogus letting agents when searching for accommodation.
"A key action that students should take to help safeguard themselves against rental scams is to check that the letting agent they are using is licensed. Using a licensed agent provides consumer protection, and if something does go wrong, a client may be entitled to compensation from the PSRA compensation fund."
If you are in any doubt as to whether a letting agent is licensed, you can contact the PSRA on 046 9033800 or info@psr.ie.
Unlicensed Letting Agents, Auctioneers, Estate Agents and Management Agents are breaking the law and do not provide any consumer protection.
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