The internet has made many things faster and more accessible for us, from renting a house. However, some may exploit this convenience to scam others.
Recently, an alleged property scam has come to light.
It involves a man posing as a property agent from PropNex and asking his victim to pay a $1,000 deposit before viewing the house.
In response to this, PropNex key executive officer Lim Yong Hock urged the public to avoid making payments before viewing a unit.
Speaking to Shin Min Daily News, Mr Lim said revealed that they received complaints of bogus PropNex agents and their unscrupulous practices to earn quick cash from potential tenants.
These ‘agents’ would use the photo, name, and licence number of a legitimate PropNex property agent on rental websites. But, they would use their personal mobile numbers to liaise with clients.
When a victim contacted one such ‘agent’, they needed to pay a $1,000 deposit before arranging to see the unit. The ‘agent’ told them that they would be refunded after viewing the house.
However, on the day itself, the victim waited for over 1.5 hours at the appointed place. But the ‘agent’ failed to show up and was uncontactable.
PropNex was alerted about the scam when the victim contacted the actual property agent and said he would report the matter to the police.
Mr Lim stressed that property agents are not authorised to handle cash transactions. Therefore, no payments should be made before a house viewing.
If a client decides to rent a house, they should sign a Letter of Intent (LOI) then pay a 1-month deposit. The property agent and client will then have to sign a tenancy agreement.
Clients can also verify the legitimacy of a listing by ensuring that the contact number matches Council for Estate Agencies (CEA)’s website, where details on agencies are listed.
Mr Lim stresses that PropNex does not tolerate such scams. They would report such cases to the police.
Getting your own place is one of the most significant milestones for many people.
However, it is important not to get caught up in the excitement and remain vigilant, especially when money is involved.
If you have any doubts about the legitimacy of a rental listing, you can check if the agent is registered on CEA’s website.
Have news you must share? Get in touch with us via email at news@mustsharenews.com.
Featured image adapted from PropNex Singapore on Facebook and Shin Min Daily News on Facebook.
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