Another Layer of Mortgage Fraud in Vacant Condo Units
A glut of vacant condominium units due to the mortgage meltdown is creating increased opportunities for criminals. Among the scams now reportedly on the rise as a result: squatters (often engaging in undesirable activities, such as prostitution) and non-owners posing as legitimate landlords and renting vacant units out to unsuspecting tenants.
The situation is prompting get-tough measures by those in charge of multiple-unit buildings, reports the Miami Herald. For example, Lori Rice, who took over in December as property manager of The Club at Brickell Bay deactivated 8,000 keycards to try to get a handle on who did, and did not, have a right to occupy the building’s 640 units.
While eliciting protests from legitimate residents who had to reapply for new keycards, the tactic did help her eliminate 1,400 apparently unauthorized cardholders, the newspaper reports. The building has more than 260 units in foreclosure.
Closed-circuit camera systems and other security measures are also helpful, but nothing beats a nosy neighbor, says Miami Police Cmdr. Lorenzo Whitehead. In a condominium version of a neighborhood watch program, he urges property managers to help residents set up Citizens’ Crime Watch programs featuring floor captains to walk the hallways. ”You have to be aggressive in addressing these issues,” he says.
