DUHD warns public of fraudulent real estate listings

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  • DUHD warns public of fraudulent real estate listings

THE Department of Urban and Housing Development warned the public to be on alert for real estate scams involving incentives like rental guarantees.
The DUHD granted a five-year lease at Thukha Dagon public rental housing to those who have difficulty in accommodation. Unscrupulous fraudsters are attempting to scam vulnerable individuals with fraudulent listings by providing fake rental guarantees.
Furthermore, some who have rental resident permits are also found to rent them out again. Consequently, their lease permit will be cancelled and they will face legal action under the existing laws.
The DUHD notified that five buildings that will be completely developed soon will be put out for lease. The Housing Supervision Committee and Leasing and Disciplinary Committee notified that those who are allowed to stay at the housing units under a lease agreement must follow the rules and regulations of the contract. They must not rehire, transfer, sell or mortgage the apartment units to others. They must not fail to move into the apartment as well.
Those who violate the rules will get their rental permit revoked and the head of the household registration is subjected to legal action. The department has recently warned home buyers of fraudulent real estate transactions by providing fake property purchase permit notification letters of the Department. — NN/KK

Source: The Global New Light of Myanmar

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