03/12/10—Individuals need to be cautious when posting rental properties and real estate on-line. The IC3 continues to receive numerous complaints from individuals who have fallen victim to scams involving rentals of apartments and houses, as well as postings of real estate online.
Rental scams occur when the victim has rental property advertised and is contacted by an interested party. Once the rental price is agreed-upon, the scammer forwards a check for the deposit on the rental property to the victim. The check is to cover housing expenses and is, either written in excess of the amount required, with the scammer asking for the remainder to be remitted back, or the check is written for the correct amount, but the scammer backs out of the rental agreement and asks for a refund. Since the banks do not usually place a hold on the funds, the victim has immediate access to them and believes the check has cleared. In the end, the check is found to be counterfeit and the victim is held responsible by the bank for all losses.
Another type of scam involves real estate that is posted via classified advertisement websites. The scammer duplicates postings from legitimate real estate websites and reposts these ads, after altering them. Often, the scammers use the broker’s real name to create a fake e-mail, which gives the fraud more legitimacy. When the victim sends an e-mail through the classified advertisement website inquiring about the home, they receive a response from someone claiming to be the owner. The “owner” claims he and his wife are currently on missionary work in a foreign country. Therefore, he needs someone to rent their home while they are away. If the victim is interested in renting the home, they are asked to send money to the owner in the foreign country.
If you have been a victim of Internet crime, please file a complaint at http://www.IC3.gov/.
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Rental scams such as this are on the rise, and foreigners are the prime victims. Last year, the Consumers Association of Singapore (Case) received 177 complaints – 54 more than in 2006. So far this year, the watchdog has received 194 reports. It is always a variation of the same story: A prospective tenant pays an agent rent and deposit, but on the day he or she wants to move in, the owner had given the tenancy to someone else. Or alternatively, a few people turn up, each claiming tenancy, but the owner says the flat was never for rent in the first place. Sometimes, both the agent and the owner are in on the ruse.
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