Rental Scam: Couple Loses $7,000 in Property Agent & Assistant Scam – How to Protect Yourself17/12/2024 Can experienced renters still be scammed? Apparently, yes. A couple in Singapore lost $7,000 in a rental scam despite verifying their property agent's license and meeting his assistant for house viewings. They discovered the scam when they arrived to collect their keys and found two other couples who had also signed leases for the same unit. The agent became uncontactable, and the couple has since lodged a police report. The police have advised the public to verify property agents through the Council for Estate Agencies (CEA) and avoid relying on listings from platforms like Facebook or Carousell.  Why Work Only with the Assistant? They mostly communicated with the assistant. A clear lesson is to insist on communicating directly with the agent, unless the “assistant” is also a registered agent and you can verify their identity with the CEA. Also check their photo on the CEA website and make sure you see the face of the agent. Covid is over. It is a red flag if they refuse to take their mask off. And of course check the original agent’s identity. Call their agency to verify their identity if you want to be doubly sure.  Did They Sign a Letter of Intent or a Tenancy Agreement? It is not clear in the article, but never ever transfer money before signing either the letter of intent or the actual tenancy agreement. In these documents, the agent must declare the identity of the landlord and provide their IC number. You can check if the landlord actually owns the property at the URA website.  Why Use Facebook Marketplace? Why not use the usual property search portals, instead of Facebook Marketplace? Using the usual property search portals doesn’t mean you won’t get scammed of course. You still need to do due diligence. See our article on scam run by landlords on expats.  Meet Them in Person
You can actually spot a property agent a mile away from the way they dress. You can also check their ID badge issued by their agency and later call their agency to verify their identity. Make sure photos match. It’s a little more assuring if the previous tenants moving out are still there and they are familiar with the agent showing you the property. Verify, verify, verify, and go through the usual process of renting a property instead of trying to save time. The time saved will bite you in the behind later.
0 Comments
Recent Rental Scam: URA Alerts Homeowners to Scam Involving Fake Tenant Registration Letters10/12/2024 The rental landscape in Singapore can be hard to navigate if you’re not a property agent or not keeping up with news all the time. This report “URA warns of scam involving letter to homeowners requesting tenant registration” is something new that may catch landlords unaware. In our article, “The Dummies’ Guide to Renting in Singapore”, we detail the steps in the rental process. The only time you go to URA is to check if your landlord is the owner of the property. |
About UsArchives
December 2024
Categories
All
|
RSS Feed