Realtor group warns of rental scam

re: Realtor group warns of rental scam

property Turkey — Wed, 22 Apr 2009 10:15:00 GMT

I have come across a lot of ads on CraigsList for rentals that when you send off an exploratory email to get more info, the response is that the owner is "...living in Africa with his missionary spouse, blah, blah, blah..." It is amazing that there are people out there that don't think twice (or even once) before sending someone money...

re: Realtor group warns of rental scam

Ronin — Wed, 08 Apr 2009 12:41:39 GMT

please advise my house is currently on the craigslist by some nigerian scammer.. what action should I take

re: Realtor group warns of rental scam

Eva — Thu, 02 Apr 2009 21:55:11 GMT

what about the rent with option to buy here in america, what do you think?

re: Realtor group warns of rental scam

Eva — Thu, 02 Apr 2009 21:54:16 GMT

what about the rent with options to buy, do you think that real?

re: Realtor group warns of rental scam

Robin — Wed, 01 Apr 2009 00:26:13 GMT

It is clear and unfortunate there are many problems and scammers out there. The old saying goes buyer beware and that goes for rentals and sales alike. Do your homework and ask questions.

I am a Realtor and a Property Manager, I work hard for both my owners and tenants. Below you will find "FLorida Statute -83.49 Deposit money or advance rent; duty of landlord and tenant.-"

(1) Whenever money is deposited or advanced by a tenant on a rental agreement as security for performance of the rental agreement or as advance rent for other than the next immediate rental period, the landlord or his agent shall either:

(a) Hold the total amount of such money in a separate non-interest-bearing account in a Florida banking institution for the benefit of the tenant or tenants. The landlord shall not commingle such moneys with any other funds of the landlord or hypothecate, pledge, or in any other way make use of such moneys until such moneys are actually due the landlord;

(b) Hold the total amount of such money in a separate-interest- bearing account in a Florida banking institution for the benefit of the tenant or tenants, in which case the tenant shall receive and collect interest in an amount of at least 75 percent of the annualized average interest rate payable on such account or interest at the rate of 5 percent per year, simple interest, whichever the landlord elects. The landlord shall not commingle such moneys with any other funds of the landlord or hypothecate, pledge, or in any other way make use of such moneys until such moneys are actually due the landlord; or

(c) Post a surety bond, executed by the landlord as principal and a surety company authorized and licensed to do business in the state as surety, with the clerk of the circuit court in the county in which the dwelling unit is located in the total amount of the security deposits and advance rent he holds on behalf of the tenants or $50,000, whichever is less. The bond shall be conditioned upon the faithful compliance of the landlord with the provisions of this section and shall run to the Governor for the benefit of any tenant injured by the landlord's violation of the provisions of this section. In addition to posting the surety bond, the landlord shall pay to the tenant interest at the rate of 5 percent per year, simple interest. A landlord, or his agent, engaged in the renting of dwelling units in five or more counties, who holds deposit moneys or advance rent and who is otherwise subject to the provisions of this section, may, in lieu of posting a surety bond in each county, elect to post a surety bond in the form and manner provided in this paragraph with the office of the Secretary of State. The bond shall be in the total amount of the security deposit or advance rent held on behalf of tenants or in

the amount of $250,000, whichever is less. The bond shall be conditioned upon the faithful compliance of the landlord with the provisions of this section and shall run to the Governor for the benefit of any tenant injured by the landlord's violation of this section. In addition to posting a surety bond, the landlord shall pay to the tenant interest on the security deposit or advance rent held on behalf of that tenant at the rate of 5 percent per year simple interest.

(2) the landlord shall, within 30 days of receipt of advance rent or a security deposit, notify the tenant in writing of the manner in which the landlord is holding the advance rent or security deposit and the rate of interest, if any, which the tenant is to receive and the time of interest payments to the tenant. Such written notice shall:

(a) Be given in person or by mail to the tenant.

(b) State the name and address of the depository where the advance rent or security deposit is being held, whether the advance rent or security deposit is being held in a separate account for the benefit of the tenant or is commingled with other funds of the landlord, and, if commingled, whether such funds are deposited in an interest-bearing account in a Florida banking institution.

Subsequent to providing such notice, if the landlord changes the manner or location in which he is holding the advance rent or security deposit, he shall notify the tenant within 30 days of the change according to the provisions herein set forth. This subsection does not apply to any landlord who rents fewer than five individual dwelling units. Failure to provide this notice shall not be a defense to the payment of rent when due.

(3a) Upon the vacating of the premises for termination of the lease, if the landlord does not intend to impose a claim on the security deposit, the landlord shall have 15 days to return the security deposit together with interest if otherwise required, or the landlord shall have 30 days to give the tenant written notice by certified mail to the tenant's last known mailing address of his intention to impose a claim on the deposit and the reason for imposing the claim.

The experience does not have to be unpleasant if you become educated and learn how to protect yourself.

re: Realtor group warns of rental scam

Curtis — Tue, 31 Mar 2009 22:53:59 GMT

Scott ... I will not call you want I want to (will not go personal) .... however, my wife is a realtor and has been for many years. If there is a more ethical person in this world I have not met her/him. The realtors (other than my wife) that I have had any conduct with are also very ethical. So, if you want to call out a particular realtor in order to give others a head's up, by all means go ahead. But to slur a group of people for the conduct of a few is small-minded and just plain RUDE!!!!!

re: Realtor group warns of rental scam

Masterb8tr — Tue, 31 Mar 2009 21:11:48 GMT

These people are no better than those scam emails we all get coming from West Africa, UK, and Asia.

Do they truly believe they will make any money from this in this and age of awareness?

re: Realtor group warns of rental scam

Roberta LV Agent — Tue, 31 Mar 2009 20:13:11 GMT

I think some may be missing the point. These aren't emails, but ads being posted. Typically it's from an out of the country 'homeowner' claiming they had to move quickly for their employment or some other reason and need to lease the home. The ads offer an enticing price often well below market because they're in a 'jam'. They use NAR in an attempt to add credibility.

This also does go a step further, and it does involve legitimate REALTORS® as a part of the scam. I know of agent's home sale listings that are copied and pasted into ads on places like Craigslist. The scammers have gone as far as using the agents name, brokerage, pictures, and property description, only changing it to a lease and using a very similar email address. Some have been alerted to these ads because the scammers didn't change the agent's phone number. Imagine their surprise when they get a call to lease a home they have for sale.

Many of these agents have had to put keywords from their listings on Google Alerts to avoid being caught up in these ripoffs. They have flagged these ads , contacted the sites and authorities, but it appears that there is little they can do to actually stop their listings from being abused. One agent I know of personally had the ad reappear after making numerous contacts and complaints and had to go through the process again.

So a word of caution. Always make sure you know who you're dealing with. Don't assume an internet ad or website is legitimate simply because it 'looks' like it is. Real professionals have local contact information for themselves and their brokerage, and typically have a large web presence to double check contact information. In NV you can also verify a real estate agent's license at the NV Real Estate Division. There you can use the lookup license, and you'll find consumer alerts and tips, that includes this NAR scam.

So be careful, in a tight economy people are looking for bargains, and the scammers play on that, and 'easy money'. You see it again in all the paid foreclosure listings, when bank owned homes are listed with agents on the local MLS, for free.

The 'pre-foreclosure' listings that may or may not become foreclosures? That is available from the local Recorder's Office, but if you had all the knowledge needed to chase the needle in a haystack homes that have equity in a foreclosure today, you'd already know that. So don't fall for any of these cheap attempts to separate you from your cash.

re: Realtor group warns of rental scam

Chuck notesto@hotmail.com — Tue, 31 Mar 2009 19:22:46 GMT

I once had a small RE appraisal firm, the realtors in town were so crooked, they put me out of business. I don't much listen when realtors cry foul !!!!!

re: Realtor group warns of rental scam

KJ — Tue, 31 Mar 2009 19:14:23 GMT

The real problem is, people want everything for the lowest possible price which often means that it's a scam! I'm sorry, but I don't feel sorry for anyone who thinks that they're getting a 30-40% bargain by e-mailing a deposit via Western Union overseas TO A NIGERIAN OR UK Western Union Office thinking that they're going to save a fortune! PEOPLE ARE JUST STUPID!! Remember; A fool and their money are soon departed.