Rental Scam Online
Toronto Fraud on Kijiji, Craigslist ...
Renting is simple... Right?
- You visit the house or apartment
- Fill in the forms
- Pay First & Last months rent deposit
- Then....loose all your money???
Have you ever rented an apartment & used an online classified service such as Kijiji, Craigslist or View-it.ca
If you have, then you know there are interesting people in Toronto...
Often it's the renters who are colourful.... They want to rent your House, Condo or basement apartment with fake income, bad credit, and say they don't smoke. Usually, it's Landlord Beware....especially in Ontario.
So imagine my surprise when a friend told me she lost her first and last months rent deposit to a Landlord fraud. Let me first state for the record. [ The landlord was NOT my client nor was I involved in anyway.] With that said, here's what happened as told by my friend and the news reports I looked up online.
The victims... over 50 of them, would visit the inside of a great apartment in a clean, well located Condo building WITH the future Landlord. He presented himself well, spoke professionally, dressed in a suit and provided an official looking Lease agreement and rental application. First and Last month rent is paid upfront as usual, but once the money is gone, the fraud becomes aparent. A case that could have been prevented through Realtors.
Watch Michelle Dube, from CTV News explain what happens next...
Do you want to prevent this from happening to you?
Don't lose First & Last months rent costing over $3000 assuming an average $1500 Toronto rental.
To be safe, enlist the service of a Realtor such as myself. It's 100% FREE, thus it makes 100% common sense and your desposit money is protected in a BROKERAGE TRUST ACCOUNT until you move in to your new apartment. The landlord will not be given possession of the deposit unless the terms of the agreement are fulfilled.
All Realtor fees are paid by the Landlord who has agreed to compensate both his/her listing agent AND the co-operating agent who brings a qualified tenant. The Key word is ' Qualified '. Landlords will pay the Realtor fees with the expectation of finding a greater quality Tenant than they could find on their own.
The Realtors job is to ensure the prospective tenant has:
- Sufficient funds for the car, the kids, the cell phone + first & last months rent
- A Good Credit Rating or Guarantor
- Good Income with Verified employment
- References and I.D checked
- Develop Lease agreement that is fair to both parties
- Ensure tenant understands the Lease clauses before signing
Out of every 20 rental calls, 19 are not qualified. Some Tenants forge their documents, while others are Professional renters who know how to cheat the system. As a Landlord, you don't want to pay a mortgage when a Tenant has stopped paying rent, then undergo costly eviction procedures.
It's my job to ensure both the Tenant and the Landlord are acting fairly and ethically. Most importantly, the rental deposit money is protected in the Brokerage Trust Account. Neither the landlord nor the tenant has possession of the funds until the rightful owner is established.
Lesson 1: Never give a Landlord your First and Last months rent, until they give you possession of the apartment.
Lesson 2: Hire a Realtor to protect yourself and to find the nicest apartments
Call Miguel Burgos now to rent the House or Condo you want...
Miguel Burgos - Your Real Estate Agent - For More Info
Call (647) 700 -0401 or Email