The Institute of Professional Auctioneers and Valuers (IPAV) has issued a warning to all would-be landlords and tenants to be vigilant against rogue letting agencies.
The warning follows the conviction in the Dublin Circuit Criminal Court last week of a letting agent who swindled 10 landlords out of more than £18,000 (€22,855) in rent he had collected from their tenants.
Early last year another letting agent was convicted in the same court for tricking 83 university students into paying more than £16,000 in rent on false pretences.
In that case the bogus agent let one property eight times and a second seven times before being found out.
IPAV executive secretary Mr Liam O'Donnell advised that people looking to either let or rent property should always check that the letting agent is a member of a recognised body such as the IPAV or the Irish Auctioneers and Valuers Institute, or is at least licensed and bonded in accordance with the minimal legal requirements.
"People operating without a licence are trading illegally and are guilty of a criminal offence," he said.
Mr O'Donnell said the huge growth in demand for properties in recent years had seen letting agencies of all kinds mushroom in Irish cities.
He said the law was being openly flouted at present and called on the authorities to ensure that existing legislation is implemented.
