TRADE ME; On an early Trade Me listing Sharma says “experience is the difference” when promoting his services.
One of the landlords affected says he lost $20,000.
Nearly 25 landlords may have been robbed of thousands of dollars by an Auckland property manager, according to allegations lodged to the Real Estate Authority (REA).
A spokeswoman for Ray White confirmed that former property manager David Sharma had “potentially been misappropriating funds” from up to 25 landlords.
Sharma is also under investigation by the REA.
His company Property Management Out West traded under the Ray White banner.
Neil Pinto, one of the landlords whose properties were managed by Sharma, claims his company had “skimmed” money from rent payments since November 2016.
Pinto estimated he had lost $20,000 in total and says he’s had to borrow money from the bank to cover mortgage payments.
“Real estate is not the best right now,” Sharma said.
Sharma admitted he was under investigation by the REA and Ray White but said he could not comment about the issues under investigation.
A spokeswoman for REA confirmed that Sharma was under investigation for actions that brought the industry into disrepute.
Pinto said the matter had put his young family under extreme financial hardship.
“We are feeling quite defeated at the moment.”
Landlord insurance didn’t cover instances of fraud, Pinto said.
“For landlords like us there is no recourse.”
Published February, 20 2018 by DILEEPA FONSEKA