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After receiving several alarming calls this week from vigilant Loft Blog readers about lofts listed for lease on a leading apartments website, the Loft Blog has conducted our own investigation. Our own verification process says that several “verified” listings are suspected fraudulent because they are listed: at less than market rate price; missing owner/manager/agent name and contact info; failed to provide response from the owner/manager/agent; requesting early application before talking or showing properties; multiple apartments website visitors have contacted our office because they have not received a response from the owner/manager/agent. These are all suspicious circumstances.
The apartments site has some kind of outside listing verification service. But what is their listing verification process? We could not find any details of their so-called “verification”. They claim that they have verified the listings some how, but the well-known apartments website and their listing verification company, which is a known commercial real estate website company, also specify that they cannot guarantee that their sites are 100% free from false or fraudulent listings. When we called them, the apartments site management refused to provide details to the L.A. Loft Blog about their promised listing verification process.
The Loft Blog can and does claim that our listings are free of fraud. Our listings really are verified, and we can actually stand behind them because they are verified by the local licensed real estate agent MLS Multiple Listing Service professionals, in conjunction with the California Association of Realtors(R), and we are actively involved as a fiduciary in many of the transactions.
Sadly, other real estate websites offer no such trust. As with Craigslist and other ad websites, the apartments website has often been used for fraud over the years, and, according to our readers, the apartments site and their verification service still have work to do. In the mean time, it is recommended that Loft Blog readers avoid apartment rental websites that claim to verify listings, yet fail to provide details of their co-called verification. Avoid apartment rental website listings that fail to provide names and contact information of the owner/manager/agent. Avoid apartment rental website listings that encourage application without providing good communication with the owner/manager agent. When little or no communication is offered, the advertised property is usually unavailable at best, and totally fraudulent at worst.
Scams can be found everywhere, but we’ve seen the most rental fraud scams in Craigslist and apartment rental websites. Other red flags to beware of include: Rent price less than the typical market rent; requests to wire money or make other unusual payments; request to use fake escrow company; owner/manager/agent out of town; attempt to rush or pressure renter; won’t meet in person; won’t provide a verifiable voice phone number; ask for application before discussing and showing property.
Upon closer inspection, the two lofts listed for lease on the apartments website may not be fraud in this case, but simply company owned properties, for which the foreign owners are not able provide much in the way of communication. The units appear to be unavailable, as the apartments website is not always accurate or up-to-date. The Loft Blog recommends against prospective renters completing applications unless there is good voice phone communication established with the verified owner, manager or agent. Any suspected scams involving apartments or properties near the Downtown Los Angeles area should be reported to law enforcement. Also report them to the LA Loft Blog anti-fraud team 213-880-9910 stopfraud@laloftblog.com
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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, BRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.