Renato Marques
Ladies and Gentlemen, this is the right time to panic. Macau is currently under a silent “terrorist attack” that is making (innocent) victims all over town.
No, this attack in not perpetrated by any of the well-known worldwide terrorist groups but, instead, by a local group of scammers called the “Former Kind of Real Estate Agents.” (FKREA)
As I will explain, the FKREA is a very complex organization because their members operate solo, in groups, and in random partnerships with other members of the group – or even in cooperation with real Real Estate Agents, who are so difficult to track that everyone gave up, or at least that is, in my view, the logical reason that justifies their existence.
In fact, it all comes from the long-waited New Rental Law passed by the Legislative Assembly (AL) in August last year, which took effect a whole six months after its promulgation in the Official Gazette.
The idea, according to the proposal initiated by nine lawmakers, was to tackle disputes between landlords and tenants as well as to improve the legal framework that regulates the real estate agencies.
Well, after a few months of enforcement; I must say, it worked! But only in favor of those who were already the most protected (the landlords), as the new rules did not establish any maximum cap on rental increases, while “easing” the process for landlords to deal with tenants.
But, besides the amendments to the Civil Code Articles 969-1056, which relate to lease agreements, and besides immediate consequences that were even perceived as “good for everyone,” there are other indirect consequences to the enforcement of the New Rental Law on the real estate market.
In practical terms, it resulted in the closure or semi-closure of a high number of “fake agencies” that were popping up like mushrooms in every, and I mean, on every single street.
Any corner shop was able to set up a desk with a bunch of A4 printed papers hanging on the windows advertising presumed apartments to rent or sell. If many of those closed doors, the fact is almost all of them would continue to operate in even more secrecy than before, becoming just phone numbers and WeChat contacts passed from phone to phone and through word of mouth.
Contrary to what happened before, these people now have no name, no physical location, no “company” name and can “mediate” deals between landlord and tenants that are not registered anywhere. If, before, they were mostly categorized as just a “witness” signature, now they are not even that. They simply do not technically exist.
As for the others, the “real ones,” the properly registered agencies operating allegedly according to the applicable laws, they have become almost out of reach for most (but not to say all) working class people, selling at “market rates” only achievable at a CEO level.
At the end of the day, the working class becomes forced to cope with the “terrorists” if they want a roof above their heads; that is, being led to pay heavy commissions like a fiefdom to everyone with absolutely no guarantee of anything, living with their hearts in their mouths, waiting for the day that an SMS from an unknown number arrives, stating in a language that you cannot read: “The owner wants the house back. You need to leave on ‘X’ day.”
On the other hand, we will soon have a few dozen less straws in our landfill and we all hope and strive for all Canidrome greyhounds to be adopted, preferably out of Macau, otherwise they will get evicted too and that, yes, can cause a major societal issue and a rampage (not underestimating, just prioritizing).
No Comments