select
|

Beware of fraud in the rental market

The public is urged to be aware of  a scheme in Centurion and Pretoria relating to fraud that started late last year.
 
Steve van Wyk, the owner and Principal of Seeff Centurion, says the fraudsters' strategy involve trawling property websites, copying the information of properties for rent or for sale and then placing these properties on various websites as available to rent while posing as estate agents.
 
"The ‘estate agent' then informs the potential tenant  that there are a number of other people who are also interested in the property, but that the property will only be rented out to the first person who pays the deposit, or in some cases both the deposit and the first month's rent".
 
Van Wyk continues that a number of tenants then innocently pay the deposit and/or rent into the bank account of the fraudster, expecting to obtain access to the property on the 1st of the month, only to find that the cell phone number no longer exists and that the property is already occupied.
 
Van Wyk suggests that when a tenant is interested in a property they phone the local office of the Estate Agency to establish whether the Agent is in fact a registered Agent with that particular company first.
 
"The phone numbers of the Estate Agencies can be obtained via the internet, the offices of the EAAB, The Estate Agency's website or the local telephone book. Do not rely on any website or phone number that the Agent may provide to check details, as these may also be fraudulent".
 
Van Wyk concludes that even though people who get caught in this trap could open a case at the local police station, this process could be a long drawn out and costly affair and it makes sense to rather take the time to establish up front whether or not the Agent is a fraudster.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 19 Jan 2018
      Extending from Randfontein in the west to Roodepoort in the east and including the towns of Krugersdorp and Magaliesburg, the West Rand has a plethora of property available to residents who choose to make this unique area their home.
    • 19 Jan 2018
      When it comes to financial planning, doing the work to ensure you’re prepared for unexpected emergencies is just as important as ticking off your other goals and New Year’s resolutions. The beginning of the year is also the perfect time to review your various insurance policies.
    • 19 Jan 2018
      No surprises at the first Monetary Policy Committee of 2018, as Reserve Bank Governor, Lesetja Kganyago, announced that the interest rates would stay at their current levels.
    • 18 Jan 2018
      The Southern Suburbs make up some of the most popular residential areas in Cape Town, comprising charming groups of suburbs which lie to the south-east of the slopes of Table Mountain. It is seen as the city's most expensive residential neighbourhoods with a choice of various private schools, upmarket eateries, wine estates, beautiful homes and trendy apartments.
    • 18 Jan 2018
      New year, new goals! If you’ve resolved to purchase your first property in 2018, then this 6-step guide from the Rawson Property Group is a must-read. It will help you navigate and simplify what is often be seen as a confusing process of buying your first home – right from the house-hunt to the house-warming.
    • 17 Jan 2018
      While the current property market may still favour buyers, it doesn’t mean that they shouldn’t be well prepared before putting in an offer to purchase.
    • 17 Jan 2018
      Lightstone lists Blair Atholl as the most expensive suburb with an average house price of R11.2 million, followed by Westcliff (R10.5 million), Dunkeld (R9.3 million), Sandhurst (R9.1 million) and Inanda (R7.2 million).
    • 17 Jan 2018
      As it currently stands, there are four main ways in which a home can be bought in South Africa, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who adds that deciding in which legal entity to purchase the property is not a decision that should be entered into lightly, as each has its pros and cons.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK