I have been emailed and contacted more about the Affordable Equity Project (AEP) than any other topic as the director of HowToRentInNYC.com. The Affordable Equity Project lists several very below market priced apartments on their website and then instructs users to send $40.00 for a processing fee and that credit scores and income do not matter.
From the AEP Website: "The Affordable Equity Project is a company that was founded with one goal in mind, to connect affordable housing with the responsible people who need it most. We believe every person on earth who needs and wants housing should be able to get it at an affordable rental price. Affordable Housing should not be a privilege, it should be a right."
Many people have contacted me letting me know they think it is a straight scam charging people $40.00 for application fees for apartments they think never existed. I allow people to write reviews of their experiences with landlords on my website and there have been exactly 35 negative reviews of their service and 3 positive for an average rating of 1.4 out of 5. Many people claim the three positive reviews were in fact "planted" by AEP themselves and found errors within their messages.
Most recently I was contacted by a Columbia journalism student and a person who used the service (who will remain anonymous) with detailed information on their experiences. I feel it is my duty to report this to the general New York City rental community because of this information that has been brought to me. I have been contacted as well by the Affordable Equity Project with requests to take down all the negative reviews, but when I asked for legitimate referrals or information I never heard back from them. I still welcome the Affordable Equity Project to contact me with concrete information about people they have helped as well as directly respond to the postings from the people below.
MY BOTTOM LINE: With over 30 negative, detailed reviews, negative standing with the Better Business Bureau and their lack of response to my own requests, I do believe the Affordable Equity Project is a well run scam. For the sake of argument even if an apartment exists for $1000.00 in Union Square- companies should NEVER accept an application unless the apartment is genuinely vacant. Reading through the reviews there were at least five applicants for one apartment. This should never be the case unless each one of them was contacted with reasons for being rejected and then they can accept the next applicants $40.00 for processing. A company cannot collect 5 or my guess about 50 applicants and $40.00 per application - process all of them and then "pick" the best applicant. Regardless, I do not believe these units exist. Please read below for further information.
FROM ANONYMOUS: (a personal story in using the Affordable Equity Project service)
“I was really desperate to find something without paying a brokers's fee, and when I saw their very professional looking website (www.equityproject.net), it gave me hope. I did not immediately send in money, as they only have listings available every few months. But they offer to send you an email once new properties become available, so I signed up.
When an email came in my box one day, and it happened to be in a neighborhood I was looking to live in, I jumped on it without much thought. I did call the office to ask a few questions, but the woman was reassuring and she said that they showed people the apt. based on who got the application in first. So I ran to the bank and got a money order, and sent it in that day. But then, after the first buzz of possibility wore off, I started questioning it further and started researching them online.
Here's what I found:
- They claim on their website that they are listed "in good standing" with the Better Business Bureau. This is misleading, as it makes it sound like the BBB is holding them to some standard. They are not members, nor are they accredited. Anyone can be listed, but there is no such thing as being listed in good standing. In fact, according to the BBB, out of 24 known complaints, only 2 complaints were resolved to the satisfaction of the consumer, and 6 were partially resolved. That is hardly a track record to brag about, or interpretable as in "good standing".
- I googled the company again, looking more closely this time, and this time I noticed that all of the "articles" about the company were put forth by the same person, Ron or Ray Subs, and always the same spiel, and on websites where there were no comments allowed.
- I looked again at their website, and noticed that the FAQ's all sounded kind of false and similar in tone. I also remarked that in the year I have been going to their website, they NEVER have any office space or condo listings, and that it seemed very strange in their FAQs, they say that there is no limit to how much someone makes to qualify for one of their low price apartments. It seemed to go against their mission to provide affordable housing to people who were struggling to find it, esp. since they only offer a few apartments every few months.
So, this was just a day later... I called them and asked them to withdraw my application when it arrived, and that I wanted to be notified when this was done. I got the biggest run-around. For weeks, I called and emailed every day, as I really could not afford to throw away $40. But calling so frequently and so doggedly made me see other things about how they run. Probably most people were not so determined as me, and just gave up their money. But I kept calling every day. One of the things I noticed was that it was always the same two voices. One was a man ("Dusty"), the other a woman. The woman's voice in particular was very distinctive, kind of high pitched and nasal, and she sounded very smooth in a corporate customer service kind of way. Anyway, I always knew it was the same person, and so I started asking, "Who am I speaking with?" And then it became really comical, because each time she responded with a different name. I started writing them down after a while, and got Wendy, Holly, Sue, and Christy, all with the exact same voice. Each time, she had no idea how to answer my questions, but always said she would have someone email me and always with the same friendly voice. I asked to be called and she said okay, but no one ever did. I did get many email form letters, saying that they had received my concern, and would get back to me. I kept calling, and then I got a more personal email asking when I sent in my application. I responded, and then received an email saying he, "John Henderson", would look into the matter. We went through a few rounds/repetitions of this, and then I finally said that I was reporting them as fraudulent and I was really upset about the run-around. To that, I got a final email saying,
"We will look into this for you, if a refund is warranted, then please allow up to 6 to 8 weeks for it to be processed for you. But please understand that our normal policy is that the processing fee is normally non-refundable. I hope this helps, if you have any other questions, then feel free to email us back."
When I asked on what criteria they judged if a refund is warranted, there was no response, nor to any subsequent emails or inquiries.
FROM JOURNALISM STUDENT AT COLUMBIA
- The Affordable Equity project communicates only by email. If you call the number on the website, someone at a call center will answer. He/she will take a message, which will be returned with an email usually from "Jon Henderson." (Come on...) He/she at the call center doesn't know (or pretends not to know) anything about AEP.
- The company that designed the web site refused to give me any information about the people they dealt with while building the AEP website. They also answered my calls with emails and used first names only.
- The people on the testimonials part of the web site do not exist. (That page hasn't been updated in a year and a half by the way.)
- Another reason for suspicion is that AEP doesn't have a physical location--just a PO box in Long Island City.
- I know that they bank(ed) with Washington Mutual, which couldn't give me a shred of info because AEP is their customer.
- Being "listed" with the Better Business Bureau, as AEP advertises, means nothing. The BBB awards accreditation to select businesses that have been reviewed, but will list anyone who provides information. http://search.newyork.bbb.org/reports.aspx?id=98005&pid=44&page=0&FindStr=Affordable+Equity+Project&SearchBy=company&Address=&City=&Phone1=&Phone2=&Phone3=&MembersOnly=False
Comments
Thank you so much for this article. I also fell for this scam and sent in $40 with an application. I feel like such a dummy, but they are pretty slick and the person on the phone sounded so professional. I waited and waited and got a couple of emails but never got to see an apartment. Why do these web fronts stay in business? Why isn't there someone on the NYPD or FBI actually going after internet fraud?
I also feel the same about The Affordable Equity Project, they are sure to be a SCAM and it is a shame, I and so many other people out there are looking for affordable apartment and do not expect a so call company to be running a SCAM. I have been sending money to them for several months and to my amazement I have not heard back from them and when I take a look at the apartment that are listed they are taking and no one ever tell you anything. That right there made me think twice about this company. Need to know if there is a way if all of our refund can be return to us and the company can be charge with fraud and to shut them down completely. Reply is needed. Thank you....Christina
P.S. I am ANGRY AS HELL CAN GET
Because we live in a liberal system where everyone has rights, this kind of scamming will continue. Superlow rentals is another scam...thank God i haven't sent them anything since i figured something was fishy...there's no way a 3bdrm apt can be renting for $800 unless its on mars
Just the other day my wife went to 303 East 44th street, NYC for a French Bilingual front office position in a security company. As it turns out it's one big scam entrapping Africans to sign up becomming security guards but of course theres a $500 course fee, $80 certificate fee and last but not least $100 who knows fee...
Now when i called him a scam artist, the owner cussed me with every name in the book and had his security guard escort I and my wife out....when i threatened to break both his legs...he contacted the Police....
that's because we live in a liberal society..even scammers have rights....so i say to hell with local police, politicians....they should get a beating ot their lives and even break one or two legs...then finally the law will get involved....what a shame!!!!
TW, please don't blame yourself. Decent human beings read things other "human beings" say that closely mimics what decent human beings would say, and we want to believe that we can trust what the not-decent human beings said. Otherwise we'd live in constant distrust of others. And when they attach such manipulation to something we really need to survive and be happy and healthy, like a job or an apartment, we're that much more vulnerable. They realize that. That's why they choose necessity of life items as the subject of their scams.
Having said that, your question about why nobody at the NYPD or FBI is actually going after Internet crime has me concerned that even after this, you haven't learned the central lesson: do your RESEARCH.
www. (remove spaces) ic3.gov/ (remove spaces) default.aspx
That goes to the FBI.
And you can call 311 to ask if anyone is doing this for internet scams that happen entirely within NYC or NYS. File the complaint. Go get 'em.
People! If you or someone you know has been scammed by this company, you should report it IMMEDIATELY to both the Better Business Bureau as well as the NY Attorney General's Office. That is the gov't agency who would prosecute such a company and their officers.
Alicia, MANY THANKS FOR THIS ARTICLE! I just thought to google this company before sending them the $40, and I'm so glad I found your report. Renting in NYC can be very confusing and intimidating for people not from here - we all appreciate your work! Thank you again, Camelia
Good reporting! Keep up the great work!
I am very upset behind this scam, I didn't know it was a scam I paid the 40 dollars and now they don't answer the phone, and on there website they said that all apartment have been taken, that is a shame that there are companys like this taking advantage of people like me,I am a single mom with a son, trying to make it out here in this city and you try to put aplications every where, I mean every where I even have trying for the City of New York, you know the lotterys you send them all the info. on how much you make, and then they say you don't qualify what is the sense is the City in New York scamming people also, I always ask myself who are getting these apartment who.
Just think about that, what should people do regarding who is watching out for the little and gulliable.
Heart broken
Jenny Santiago
Hello Jenny,
Please feel free to email me for apartment help. I am sorry this happened to you. info@howtorentinnyc.com. Hopefully I can point you in a direction with affordable management companies and landlords.
Thank you for this valuable information. You just saved me much time and headache.
Thank you for exposing this scam! You just saved me from much time and headache.
I actually went through the application, thinking twice the entire time. Credit card in hand, ready to enter in the numbers... then I noticed that it was $40 per application, per apartment. Typically that $40 is for credit check, etc. Why do they need to run my credit three times? Luckily I decided to dig a bit deeper. You guys saved me $40.THANKS!
Thank you!!! I suspected something was fishy from the moment I saw the website. It looks so cheap. Also, those apartments look too beautiful to be priced the way AEP has priced them. If it's too good to be true...
I am worry because,i sent these people my application and my money.on the the application,they ask for the last digit of your social security and name.can they use it without ur date of birth
I have been scam by equity project in looking for an apartment they said they would call me but they never did
All of the pictures on their website section "Testimonials" are stolen from myspace.
Wow I was gonna send in my app too with 40 bucks. I had a feeling there was something off about it. thanks for the post.
I have a friend who let me know about this website because she applied for an apartment on there. I am now adivising her to ask for her money back and I am glad I didn't send in my money!
I wish I had saw this site before being scamed. I'm in a situation where I need to find living for my toddler & I so thinking this was a legit web I submitted two application. Yes I have been scamed out of $80 it's so upsetting that ppl like this exist. Every day I check out there web and it's always the same thing and I am so tryed of the email replies and no phone calls or at least the decency to call back when I have left serval messages. I should have known this was to goooooooood to be true.
hey thank you sooo much alicia for posting this i just saw that website and got happy but i did keep reading it because it seemed too cheap but lucky thats all i did thank you and if you dont mind i will be emailing you to get some info on the affordable housing if you have any im in need of an apartment and thanks again
I was almost suckered into this but it just screamed "Scam". Does anyone know anything about nycrentsource.com as they seem to operate in a similar manner as AEP, they post listings on Craigslist, you receive an automated email. There is a chat support but it always says nobody is available and there is no phone number on the website, it just tells you to charge your credit card on their website so that you can browse listings. I am a single mom desperate for affordable housing if anyone knows of any resources.
Thanks for posting this. It seemed like it was too good to be true, so I googled them and found this article. Looks like you saved me 40 bucks. :-)
Unfortunately I found this article after I sent them the $40 processing fee. Being a single working mom of three I thought I found a "god send" when i came across thri website. I only applied fro one apartment but after asking them via email the status of my applciation they do not respond any more. It is very upsetting considering how times are now. What can be done to avoid others from alaso beign scammed and possible getting money back?
EVERYONE SHOULD CALL OR EMAIL THEIR LOCAL NEW CHANNELS & STATIONS, AND ASK FOR THEIR LOCAL NEWS/INVESTIGATIVE REPORTER OR EDITOR. DESCRIBE HOW YOU'VE BEEN SCAMMED, HOW YOU'VE FOLLOWED UP, AND BEEN GIVEN THE RUN-AROUND, AND EMPHASIZE ON THE FACT THAT SEVERAL PEOPLE HAVE HAD THE SAME EXPERIENCE WITH THIS FRAUDULENT COMPANY. THE MEDIA OUTLETS WILL BRING LIGHT TO THIS SITUATION, BUT YOU'VE GOT TO SPEAK UP PUBLICLY. YOU HAVE TO BE WILLING TO GIVE THEM YOUR INFO, AND POSSIBLY APPEAR IN AN INTERVIEW FOR THE SEGMENT, BUT THAT'S THE ONLY WAY TO SHUT THESE CON ARTISTS DOWN! THIS IS DEFINITELY A STORY THEY'D BE INTERESTED IN AS IT APPLIES TO THE MASSES, AND THE BROKERS IN THIS CITY ARE ALREADY A MENACE (THAT PROFESSION SHOULD BE ABOLISHED). WHY SHOULD PEOPLE HAVE TO PUT UP WITH SCAMS LIKE THE AFFORDABLE EQUITY PROJECT & SUPER LOW RENTALS? AREN'T THESE PRACTICES ILLEGAL?? MAYBE A FEW PEOPLE SHOULD REPORT THEM TO THE POLICE AS WELL. EVERYONE TAKE A STAND & CALL/EMAIL YOUR NEWS STATIONS ASAP! DON'T TALK ABOUT IT...BE ABOUT IT!!!
also beware of Superlow rentals.com site is very much like equity project=== SCAMS!!!!!!!!!!!!!!!!!!
I made the mistake of not doing due diligence online before applying to Affordable Equity Project. They scammed me out of $80. Being that they seem to have been doing this for quite a while (it is August 2010 right now), I hope these people get prosecuted to fullest extent.
I wish something could be done about this website (affordable equity) so that they can stop scamming people. Me and my sister have been looking for an apartment and came across their website. Of course we sent in an application and the $40 fee. We never got the apartment, and their reason for this is that when they called my sister's job so that we can come in for a viewing, she didn't pick up so they moved to next person on their list. It's such crap, considering that the work number was listed as a "back up number." Both my cell phone and my sister's cell phone were listed on the application, but they never called those numbers. They told us we can check back for more listings, and if you actually apply for a second time, they only charge you $30 instead of 40.
Unfortunately for us, we eventually applied again for another apartment. We waited and waited, and two weeks passed, there were no calls. When we contact them to find out our status, they said they're still processing applications but we're at the top of list so we should hear soon. Soon never came, and then I started to research them, and found all these testimonies of other people getting screwed over.
It's ridiculous how they rob people. I was looking to find out how I can report them to a government agency or just any agency that can step in and do something, and put an end to their scamming. If anyone knows have any idea, do share....
Does anyone know if superlowrentals.com is also a scam? It sounds a lot like AEP and looking at their website I just thought those apts were too good too be true... just wanted to know before i spent valuable time and money applying with them... thanks!
Thanks, Alicia I saw an ad on Craigslist. As a native NYer, I had a bad feeling about them. So, I goggled them and found your article.
I also just googled them after seeing ads on Craigslist that seemed too good to be true. And time and time again, that saying is ALWAYS true. If its too good to be true...it probably is! Great article. Thank you!
This has become common place in every community unfortunately. It does not matter if its real estate, automotive etc. If a deal appears too good to be true, then proceed with caution. It use to be door to door services that would target the elderly, now scam artiist are taken to the internet creating new creative ways to steal. http://www.ListWithBontempo.com
Research, Research, Research!!! I research everything before I open my wallet. If It seems too good to be true. Then walk away because it is. These two methods have save me a ton of money over the years. And living in NYC, the city of scammers, swindlers and con artists, I learned not to open my wallet too fast. And come on!!! An Apartment in NYC for under $600 that didn't go the first day it was listed??? That just sent up red flags all over the place!!!
Thank you so much for writing this. My mother and I just found out that we have a year to leave the only home I've ever known (I'm 19). I'm devastated but I knew I had to start looking and I happened to pass by "Superlowrentals.com." As I was reading everything and looking at the pictures, my mother and I fell in love with an apt. listed in Pelham Parkway in the Bronx.
But then it hit me that it really just sounded too good to be true so I decided to google and came across this article. Luckily, we haven't given them any money or anything but we probably would have if I didn't come across this article. Thank you so much again
It seemsthat Afforable Equity Projects does not have an actual street address. I researched further but came up with not location at all. The only address is a po box, so BEWARE of po box companies.
It seems that Afforable Equity Projects does not have an actual street address. I researched further but came up with no location at all. The only address is a po box, so BEWARE of po box companies.
Thank you, thank you and bless all of you not just for the $40 dollars, but thanks to you I didn't fall for it. It was just too good to be true. Wake up New Yorkers!!! there is somebody out there trying to take our hard earned money.
The samething happened to me and still to this day they are still posting up listings for the same available aprtments. Its a shame. There should be a stop to this robbery.
My dick burns I think I have a yeast infection
Wow so glad I found this article because my mom and I had already sent them an e-mail to be added to their mailing list of rentals. Now I know to do EXSTENSIVE RESEARCH on EVERYTHING BEFOREHAND !!
yeah it is outrageds how people could me such scammers,and do this.
i a are mess
Thank you for your info b'cus i was going to send my $40 to them but i decided to google them because the apt is too good to be true. Why F.B.I or NYPD arrest them. may GOD punish them.... amen
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