Tuesday, October 28, 2008

Rental Fraud Alert - be Careful!

Please be very careful if you are thinking of renting a property through Craigslist or Kijiji. There are some fraudsters out there preying on people who are thinking of renting. If it seems just too good to be true, it likely is.

One method of checking if the property you are thinking of renting is too inexpensive is to email an agent and ask them to either look up the address on the MLS or to give their opinion of rental value. This is one method of checking.

Please read this press release from the Toronto Real Estate Board below.

All the best,
Toronto Real Estate Board (TREB) Average Prices and Graph

October 27, 2008 -- A Member, who recently placed a house rental advertisement on Kijiji and Craigslist, has reported that an individual re-issued the same advertisement with his contact information in an attempt to fraudulently collect rental deposits.

The individual advised prospective tenants that he had been transferred to Nigeria on business and as such, the house would be available for rent for four years. He offered to rent the house for a considerably lesser amount than that which the owner had advertised. At least two prospective tenants in the Brampton area were nearly drawn into this scam.

Members are reminded that such occurrences can also be reported to PhoneBusters, the Canadian Anti-Fraud Call Centre managed on a tripartite basis by the Ontario Provincial Police, the Royal Canadian Mounted Police (RCMP) and the Competition Bureau Canada.
PhoneBusters can be reached at 1-888-495-8501 or info@phonebusters.com

For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1

BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com

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