The Riz Team Blog

Posts Tagged ‘signs’

The Signs of Mortgage Fraud

Friday, April 19th, 2013

If you’re unsure, remind yourself that “if it sounds too good to be true, it probably is.

Joe Richer •  Sat. Mar. 2, 2013  • Toronto Star

Q: What are the warning signs of mortgage fraud? What can I do to protect myself?

A: Mortgage fraud is a complicated criminal act that is an ongoing concern for the real estate profession.

As the regulator responsible for upholding the integrity of the profession, RECO works in partnership with all parties involved in real estate transactions to investigate complaints to make sure real estate professionals are compliant with the law and impose disciplinary action on those found to have knowingly participated in fraud. As Registrar, my position is that any registrant proven to have knowingly participated in mortgage fraud faces losing their registration.

You can protect yourself from being an unwitting participant in mortgage fraud by being suspicious of situations where you are:

-Asked to overstate your income or make other false statements on a mortgage application.

-Asked not to complete certain sections of a form or sign documents that contain blanks.

-Are discouraged from visiting the property you’re purchasing or having it appraised or inspected.

If you’re unsure, remind yourself that “if it sounds too good to be true, it probably is.” If you suspect fraudulent activity, report it to the police.

If you have a question for Joe, email askjoe@reco.on.ca. Joseph Richer is RECO’s registrar and is in charge of the administration and enforcement of all rules under the Real Estate and Business Brokers Act. You can find more tips at reco.on.ca, follow on Twitter @RECOhelps or on YouTube at youtube.com/recohelps.

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Petition opposes changes to Waterloo sign bylaw

Tuesday, October 2nd, 2012

City of Waterloo is considering controls on mobile signs like these, pictured in 2009 along Hespeler Road in Cambridge.  At that time, Cambridge wrestled with new rules for mobile signs like Waterloo is now.

   Rick Koza

WATERLOO — Those portable, neon-letter signs may be criticized by some as roadside eyesores and have prompted proposed changes to Waterloo’s sign bylaw, but sign company operators told council Monday night that those signs can attract up to 30 per cent of the sales for the businesses that use them.

“Many business owners will tell you that portable sign advertising keeps them in business,” Mike Gaudreau told council.

Gaudreau, of React Mobile Signs, was one of several people who appeared before Waterloo city councillors Monday to weigh in a proposed new sign bylaw that would limit or eliminate their ability to use mobile signs. He brought to council a petition signed by 87 businesses that oppose some of the changes.

Several worried business owners also sent letters and emails to councillors. Those businesses range from tanning spas and restaurants to credit unions and flower shops. Many have been in the community for decades.

Under a Freedom of Information request, Gaudreau learned there were 18 complaints about mobile signs this year. Five came from the public, the rest were generated internally, likely from staff, according to the city’s director of bylaw.

He said his information request showed that mobile sign permits brought in about $84,000 in revenue for the city at the same time.

Dave Lamka of A to Z Signs, said Kitchener businesses can use mobile signs six months out of the year, giving them a competitive advantage.

“Business owners in Kitchener will use their six months of mobile sign time to take badly needed sales from Waterloo’s local business owners,” he said. “Many badly needed jobs will be lost in Waterloo.”

Portable or mobile signs — the ones with neon letters — wouldn’t be allowed anymore in commercial plazas under a proposed citywide sign bylaw. They could be used in other areas, including those zoned “corridor commercial.”

They would be allowed to use accessory signs such as A-frame, T-frame or sandwich board signs, instead.

No decision was made at the meeting.

“I’m a little concerned that depending on where you are, your sign options are a little limited,” Coun. Scott Witmer said.

A number of changes are proposed to Waterloo’s sign bylaw that will impact everyone from business owners and landlords to real estate agents and neighbourhood associations. The proposed changes include:

  Grandfathering existing roof and billboard signs, but not allowing new ones;

  Allowing the city’s sign variance committee to approve applications, instead of requiring council approval;

  Limiting neighbourhood association signs to 12 per year, with other rules;

  Allowing landlords to post temporary signs advertising vacancies but disallowing signs to advertise property management companies on the facade of any residential building; and

  Real estate signs can’t sit on lawns longer than the property is available for sale, rent or lease. Sold signs can be posted for a maximum of two weeks.

Mayor Brenda Halloran does not support handing sign approval authority to staff.

“I think all applications should still come to council because we’re the voice of the community,” she said. “That concerns me a lot.”

City staff have been working on the new policy for more than a year. According to a report, they consulted with stakeholders and held a public open house July 31.

Staff are making changes based on council and public input and will bring a revised bylaw to council for approval later this year.


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