first_imgA sharp increase in the use of online rental applications since the start of the coronavirus pandemic has caused a consequent jump in red flags for fraud. The percentage of so-called fraud triggers detected by TransUnion increased nearly 30% from March to August, according to the credit reporting agency. TransUnion defines fraud triggers as applicant statuses with failed authentication and/or identified as high risk. They reached a high of 15.2% in August, compared with 10.3% over the same period last year.- Advertisement – – Advertisement –  “What Covid has done is accelerated the rental industry’s adoption of technologies in the digital environment to become contactless,” said Maitri Johnson, vice president of TransUnion’s tenant and employment business. “As this acceleration into the digital environment has occurred, it also has opened up the prevalence of fraud much more so.” As a result, the multifamily rental industry is now at higher risk. Since the pandemic began, the frequency of actual fraud incidents has jumped by nearly 50%, according to TransUnion’s survey of 82 multifamily executives. Another quarter saw up to 100 instances of fraud in their portfolios in the past year. While many were able to flag fraudsters before they moved in, 41% said they missed it, and the applicant moved in. These fraud cases are largely about faking the identity of the tenant. They include using someone else’s driver’s license, stealing someone else’s Social Security number from the dark web or inventing a new identity entirely, known as synthetic fraud.- Advertisement – Sign advertising apartments for rent in the Upper East Side in New York City.Adam Jeffery | CNBCcenter_img – Advertisement –  Synthetic fraud involves building a credit profile for a person who doesn’t exist and then using that profile to open credit cards to buy merchandise. The rental home then becomes a part of the crime. “Taking this fictitious persona, applying for apartment home, it all checks out, and they get access to an apartment home, and they eventually use it as a drop zone for all their spend. Then they will skip out in the middle of the night,” Johnson said. It all leaves the landlord holding the bag. Two in 3 executives told TransUnion they were concerned about fraud growth within their communities. With thousands of valid tenants now behind on their rent because of the pandemic, this only adds to the burdens of property management companies and adds to the losses of property owners.“If you’re trying to evict someone, but that someone doesn’t exist, how do you do that?” Johnson said.last_img read more


first_imgJohn McGrathSOUTHEAST Queensland’s property market offers a “golden triangle of opportunity”, with the region tipped to have the best capital growth in the country.That is according to the latest McGrath Report, which says the region – which includes from the Gold Coast to the Sunshine Coast, Brisbane and west to Toowoomba – also offers the most desirable lifestyle in Australia. McGrath executive chairman John McGrath has predicted that Annerley, Grange and Springfield Lakes will be the next Brisbane suburbs to watch, while Maroochydore on the Sunshine Coast and Pimpama on the Gold Coast were his regional picks. This four bedroom house at 91 Cracknell Rd at Annerley could be yours for an offer over $795,000He said the suburb was surrounded by affluent suburbs but was significantly more affordable. Another one to watch is Springfield Lakes, a growing masterplanned community that is poised to benefit from a proposed passenger rail line extension. John McGrath“Economic growth and jobs are closely tied to every property market’s performance and Queensland has suffered in the shadow of the mining downturn,” the report said.“But boosted tourism, surging gas exports and the strongest annual growth in jobs in more than a decade are combining for a comeback.“Liveability, affordability, scale and future economic prospects all suggest that Brisbane is a market in which you can confidently invest.”The report noted that the Gold Coast and Sunshine Coast were now more expensive than the capital, with median house prices of $650,000 and $589,000 respectively compared to Brisbane at $536,000.80“This might be a sign of the future with a huge wave of downsizing due to unfold over the next two decades across Australia,” the report said. “Queensland’s best seachange locations, such as the Gold Coast and Noosa have long been favourite destinations amongst downsizerslooking for a more relaxed life.” An aerial view of Springfield Rise at Spring Mountain that was taken last year“While affordability is part of Queensland’s attraction, massive growth in Sydney and Melbourne property prices over a prolonged period means southern migrants can affordto buy wherever they like,” the report said.“Within Brisbane, southern migrants and local upgraders are favouring premium property in blue chip inner ring areas close to the CBD and/or river. center_img More from newsParks and wildlife the new lust-haves post coronavirus16 hours agoNoosa’s best beachfront penthouse is about to hit the market16 hours agoThis house at 82 Lanham Avenue, Grange, is on the marketIn Brisbane, Mr McGrath said Grange was becoming increasingly popular with families due to its proximity to schools and the city, relative affordability and bigger blocks.Annerley is also tipped for growth, with Mr McGrath saying it had been “under the radar until now”. This house at 2 Central Avenue at Paddington sold for $1.59 million in August“This has led to above average growth in desirable neighbourhoods like Hamilton (median house price up 38.5 per cent to $1.565 million), Paddington (up 15per cent to $1.15 million),Bulimba (up 11.3 per cent to $1.307 million) and Auchenflower (up 9.5 per cent to$1.095 million).”last_img read more


first_imgOffshore oil and gas explorer and producer Kosmos Energy has completed the acquisition of Gulf of Mexico operator Deep Gulf Energy (DGE).DGE assets in Gulf of Mexico (blue – producing, green – prospect, yellow outline – operated); Source: DGEKosmos said on Monday that the acquisition of Deep Gulf Energy included Deep Gulf Energy LP, Deep Gulf Energy II, Deep Gulf Energy III, and related entities.The company agreed the buy for a total consideration of $1.225 billion, subject to certain adjustments. Of the total amount, $925 million was in cash while $300 million was in Kosmos common shares issued to First Reserve, management, and other DGE shareholders.According to Kosmos, the acquisition of DGE adds to its deepwater Atlantic Margin portfolio with attractive assets and a strong record of growing production and reserves through infrastructure-led exploration.“This immediately accretive acquisition enhances the scale of the company and is expected to generate significant free cash flow, enabling Kosmos to return cash to shareholders through a dividend, beginning in the first quarter of 2019,” the company said.In a previous statement, Kosmos said that the acquisition would add approximately 25,000 barrels of oil equivalent per day (boed) of production (around 85% oil), growing 2018 pro forma production by 50% from approximately 45,000 to 70,000 boed.Kosmos will also add estimated 2P reserves of approximately 80 million barrels of oil equivalent (mmboe), increasing total 2P reserves by 40% from over 200 mmboe to approximately 280 mmboe.last_img read more


first_imgSweden’s Henrik Stenson is the new Open golf champion – after a record breaking Sunday at Royal Troon.He shot a final round 63 to finish on a best-ever 20-under-par in the sport’s oldest “major” – three ahead of Phil Mickelson, who managed an impressive 65.Northern Ireland’s Rory McIlroy and England’s Tyrrell Hatton were tied in fifth place – 16 strokes behind Stenson.last_img