New parents trying to rent condo lose $7k to 'agent' who preyed on their desperation

Nathaniel Fetalvero
TNP
Sept 19, 2024

A young couple's dream of finding the perfect home turned into a nightmare after they were scammed out of $7,000 in a sophisticated rental scheme.

The victims, fitness instructors JM and Faz, both in their mid-30s, were among several couples lured by the promise of a too-good-to-be-true deal for a Paya Lebar condo.

The couple, who recently welcomed a newborn, were eager to secure a new home before their current lease expired. They stumbled upon what seemed like the perfect listing on Facebook Marketplace and connected with an individual claiming to be a PropNex agent named Mike Tay.

Despite conducting due diligence, verifying the agent's licence and visiting the property, the couple fell victim to a meticulously planned con.

"I've been renting for 12 years. We're not new to renting a place, so we did a thorough check to make sure it was legitimate. We went to PropNex to check his licence number," JM told 8days.

Adding to the couple's frustration, they got to meet only the alleged agent's "assistant", a common practice in the industry.

"It is not uncommon, even our current agent does the same when they have to attend several listings at the same time. We viewed almost 15 units this month and sometimes we would meet only the agent’s partner or assistant,” JM explained.

The scam unravelled when the couple arrived at the supposed condo unit on the evening of Sept 16 to find two other couples also waiting for "Mike".

The "agent" was a no-show and it soon became clear that all three couples had been duped, collectively losing thousands of dollars in deposits.

JM and Faz, who lost $7,200, felt particularly vulnerable as their lease was ending.

"The initial plan was to buy a flat. My PR status just got approved, and we just got our HDB Flat Eligibility letter, so we’re applying for an upcoming BTO. But we still need to rent because that’s going to take time,” said JM, who moved here from the Philippines.

Adding insult to injury, JM and Faz admitted to having a "gut feeling" about the deal, particularly the "agent's" eagerness to secure their deposit.

“If we ask for something, they were very fast. They were very quick to say, 'That’s okay,'” JM recalled.

Faz added: “Usually they would have to check with the landlord but Mike would agree within 15 minutes.”

JM believes the scammer preyed on their desperation.

"They would say we’re too slow to decide and tell us there were already many viewings. They put us into this kind of situation to rush us,” she said.

Since sharing their story, JM has been contacted by a stranger who almost fell victim to the same scam, from a listing of the exact same unit and even the same "agent".

“Apparently it’s still ongoing and they’re operating under a different phone number. They’re still talking to her, they told her she’s slow to pay the deposit. She loved the place, but her boyfriend felt like it seemed suspicious, and wanted to check if they were speaking to a real person first. Thankfully, she hadn’t paid the deposit,” said JM.

The couple have since filed a police report and reached out to PropNex for assistance. They hope their experience will serve as a warning to other renters.

“It’s such common practice to pass the deposit to agents who would then pass it to the landlords. It’s all by trust. We’re warned against clicking links to avoid scams but no one talks about how this is a big market for scams as well,” Faz pointed out.

“If we cannot get our money back, at least we can create some awareness about it,” added JM.