Flat Rent - Annual Payment - Fraud or Truth

Guest
By Guest

Dear Pals,
every body who is in the real estate profession

Today, in Gulf Times, an advertisement for
Qatari Italian Group for Development and Real EstateInvestment took half of the page.

They announced many properties: example 2 bed room flats in the airport area with monthly rent for 7500 OR annual rent for 58,500 which corresponds to 4,875 per month (you have to pay this in one shot)!

I have checked the flats and they are ok!

So, you have to pay 10% deposit to book the flat and 90% within 10 days upon contract finalization.

first,
- any one know this above company (they are signing the contracts under the name of Rometo Constructing)

- is this a real thing or a scam?

- How to secure my money if i decided to go for it since many articles lately in the newspaper spoke about rental frauds and annual payments stolen!

thank you all and appreciate your participation and info.

By anonymous• 2 Feb 2009 09:54
Rating: 2/5
anonymous

I saw the apartments also and loved them!

BUT i will NEVER pay yearly for such a house, because (forget about Fraud) you never know when your company might close from this HUGE economical crises!

Be Careful, though its a good price!

As for the prices going down soon! well it won't be that much of a difference!

For the salary that we are getting paid for, the rents will never be 2000 QR for a 2 bedroom!

By carspluscars• 2 Feb 2009 09:28
carspluscars

go and get a police letter and give to them. you will come to know abt them. no body in qatar can moreover cheat anybody. qatar is not like other asian countries. so invest and get all details regarding documentation.

By anonymous• 2 Feb 2009 08:44
Rating: 5/5
anonymous

Hai…

Don’t go for yearly contract, why because the rents are going down every month and it is evident from the adv. From the newspapers.

Now one of my friend got a double bedroom flat with two toilets kitchen, hall with water and electricity just for QR 4000/- only on monthly basis not in one shot for a year, in MAdina Khaliffa area.

Search you will find a nice and low cost flat or villa

By Eagle_Shaheen• 2 Feb 2009 08:22
Rating: 4/5
Eagle_Shaheen

I had an offer for two bedrooms in Mansora that its rent should not be less than 6500 to pay one year advance for 4500.

and for 3 bedrooms to be 5000 instead of 7000 at least if monthly.

But the contract will not be with the owner and will be with some agent .

Company called Intercon and I could not find any online info about it and when I call the company I found the person that answer the land line has no info about the building or the rent .

The agents that I was calling on mobile they were three and I called them and mention that I am intersting to take 3 flats for me and two friends and they say we will check the availability of the office and please call us back and when i try to cal come time no answer and some time the answer is vague.

Finally , be careful if the contract is not direct with the owner.

take care from Fraud.

Again the company Name is Intercon.

any body can contact me and i can give him the mobile number for these three people to make sure not be involved in any other offer ;)

By Guest• 5 Jan 2009 11:44
Guest

Thank you every one.

but the question remain, does anybody know this company? dealt with them before? are they reliable ?

By Brown Sugar• 5 Jan 2009 00:41
Rating: 4/5
Brown Sugar

Well, I think its a risky thing, try to deal with the owner company directly. Opppps yaaaah, here we go, try to take the contract to the housing authority or the ministry of housing, they have a special department called: Contracts attestation. Also, ask for the following from the dealer: company commercial card, company establishment card and the contract between the company and the owner.

And I think in this case you'll be safe.

keep me updated if u need any help.

good luck

By anonymous• 4 Jan 2009 22:45
anonymous

I really hope that it is true that rent is going down !!! But what it will happened for those that already signed contracts earlier ? Did owners will return our cheques ? Or what can happened ,Is it possible that once owner rent place and he took cheques for 2 or 3 years he will negotiate again price ??? Kindly if any one involved with this issue know answer please replay

By elxxxv• 4 Jan 2009 22:35
Rating: 3/5
elxxxv

just make sure you're signing the contract with the owners, not agents. some properties are rented on yearly payment - cheaper than monthly payment but have to fork out a relatively large sum up front.

By zoolie• 4 Jan 2009 22:31
zoolie

rents are getting down,

specially for long term advance payments,

i saw this going on many places.

real estate agencies knows that in couple of months a bigger drop will come, so they are trying to secure the rents from now for a year or two....

Good for us i beleive :)

By GodFather.• 4 Jan 2009 22:22
GodFather.

Its true my Friend the rents are coming down..

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