I wanted to pass along to all of the property owners out there that there are several savvy opportunists out there who are attempting to scam landlords. The following was a recent public release from the California Association of Realtors (CAR), in addition to a market update:
Tip of the Week: Beware of “Successful Rent”The Apartment Owners Association is warning of a company called Successful Rent run by a lady named Sunny who is scamming rental property owners.
Sunny calls owners who have vacancies and claims she has prospective tenants from out of the country looking for homes. She then sends someone over who fills out the rental application and gives the owner or manager a fake cashier’s check to hold the apartment. She also says that she will run the credit report for the owner for free.
On the day of move-in, she calls the owner and says the tenant found another place and they would like their money back. The owner then writes a check for the deposit amount and a week or two later, gets a letter from their bank saying the original cashier’s check was fraudulent.
Fast Facts
Calif. median home price: February 2012: $266,660 (Source: C.A.R.)
Calif. highest median home price by region/county February 2012: Marin, $732,140 (Source: C.A.R.)
Calif. lowest median home price by region/county February 2012: Tehama, $85,000 (Source: C.A.R.)
Calif. Pending Home Sales Index: January 2012: 102.4, an increase from the revised 93.1 recorded in January 2011
Calif. Traditional Housing Affordability Index: Fourth quarter 2011: 55 percent (Source: C.A.R.)
Mortgage rates: Week ending 3/15/2012 30-yr. fixed: 3.92% fees/points: 0.8% 15-yr. fixed: 3.16 fees/points: 0.8% 1-yr. adjustable: 2.79% Fees/points: 0.6% (Source: Freddie Mac)
Tip of the Week: Beware of “Successful Rent”The Apartment Owners Association is warning of a company called Successful Rent run by a lady named Sunny who is scamming rental property owners.
Sunny calls owners who have vacancies and claims she has prospective tenants from out of the country looking for homes. She then sends someone over who fills out the rental application and gives the owner or manager a fake cashier’s check to hold the apartment. She also says that she will run the credit report for the owner for free.
On the day of move-in, she calls the owner and says the tenant found another place and they would like their money back. The owner then writes a check for the deposit amount and a week or two later, gets a letter from their bank saying the original cashier’s check was fraudulent.
Fast Facts
Calif. median home price: February 2012: $266,660 (Source: C.A.R.)
Calif. highest median home price by region/county February 2012: Marin, $732,140 (Source: C.A.R.)
Calif. lowest median home price by region/county February 2012: Tehama, $85,000 (Source: C.A.R.)
Calif. Pending Home Sales Index: January 2012: 102.4, an increase from the revised 93.1 recorded in January 2011
Calif. Traditional Housing Affordability Index: Fourth quarter 2011: 55 percent (Source: C.A.R.)
Mortgage rates: Week ending 3/15/2012 30-yr. fixed: 3.92% fees/points: 0.8% 15-yr. fixed: 3.16 fees/points: 0.8% 1-yr. adjustable: 2.79% Fees/points: 0.6% (Source: Freddie Mac)
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