Earn, save and protect your money

Archive for January, 2011

Apartment Rental Fraud

Thursday, January 27th, 2011

If you are looking for a place to rent and happen to come across a rental listing with lower-than-average price, do not jump up and down in excitement. Instead, keep the alert flag goes up in your brain.

Scammers target the users of Craigslist and other classifieds websites and place the rental ad with ridiculously low prices. For example, they put a listing for 1BR furnished apartment for $425 whereas the going rate in the market is $1,000 for similar apartments. The price is the bait. Once you fall for it and send an email to the ad poster, you would get the response something like the one below:

Thank you for the most eloquent response to my listing, I’m the owner of the apartment you are making inquiry of. Actually i resided in the apartment with my family, before i lost both parents in a ghastly motor accident so i had to relocate to Africa with my fathers half brother working in an oil firm in Africa.(W.AFRICA) and presently my apartment is still available for rent which i inherited from my late parents . It includes  utilities like hydro, washer and security, I have my furniture in the apartment. if you which to move in with your furnished items there is a storage area where you can move my furniture’s, no problem. Please i want you to note that i am a kind and honest  young man and also you should know that my parents must have spent a fortune on the property that i want to give you for rent, i will want you to take absolute care of my apartment and I want you to treat it as your own, money is not the most important thing but i want you to keep it tidy all the time so that i will be glad to see it neat when i come for check up. RENT INCLUDES CABLE, HEAT/AIR, WATER, GAS AND INTERNET!!!

N:B :  You will not be able to see inside of the apartment because the keys/document is here with me, you can only go by it and view from the exterior/surroundings, it’s located in a convenient, safe and good location. You would love to call it a home….

Nice email, isn’t it? If you fall for it and decide to rent the apartment without even looking inside, the scammer will ask you to send money to his african bank account and promise you that he will mail you the key thru UPS. By now, you would have probably guessed what would happen after you send the money to the scammer.

If you are naive and decide to send the money anyway for the fear of losing the super sexy apartment, you will never get the key for the apartment. You may be even surprised to know that the property owner is living right there in the apartment with his parents and have no idea about who placed the rental ad.

Outlook for Economy Brightening

Wednesday, January 26th, 2011

Whether it’s going to be true or not, just reading this news make me feel optimistic. Associated Press survey found growing optimism among leading economists.

Economists predict that U.S. economy will grow 3.2% in 2011 and employers would create 2.2 million jobs. You can read the complete story here. As we have written many times before, jobs are there. But, the employers are not able to find right candidates at right price. If more jobs are available for job-seekers with different set of skills (such as manufacturing, construction, etc), it’s going to improve the overall optimism even better.

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