Rental Returns, are they a scam?
Real Estate Agents in Thailand have been using adverts to push their property for years by offering fixed and guaranteed Rental Yields over many years .
Promoting “new developments” on real estate websites at very attractive prices in several locations around Thailand whilst underpinning financial logic with serious offer of rental yields, so are these scams offered by scammer?
Obviously it depends on whether you are getting your rental yield or not? Foreign nationals and Thai nationals alike, are starting to orchestrate several complaints with regard ti non-payments, thus declaring that they have become the victims of a fraud having paid deposits for property they later discovered did not actually have a live or real rental programme, or in fact even have a hotel license to actually even find the people legally to create the promised rental yield.. In brief, a lot of talk but just hollow words to take in money against sales of their developments.
According to the police, the first part of the scam starts with the marketing material and sales collateral, whereby the image that you bought into should display the truth and completely relative to the property or asset that you were talked into buying, There after, once the money received, construction completed, the company would make layers of excuses and part with no money with regard to the financial promises and logic presented to the original purchase. .
Sometimes using separate companies, that they think that they can shut down and abscond from responsibility. A set piece and commercial trading practices wholly geared up to take and not give. Innocent people committing life savings for no true peace of mind or financial gain.
This is not a new scam, it has been common for over a decade in Thailand. However, it is a simple process to protect yourself from this kind of fraud.
Use a reputable Law firm to shake them up and get some redress. Don’t allow abuse any longer. Take action and put a legal case back on their lap of which they cannot easily wriggle away from.
Send in your personal contact details for a confidential chat.