One of the elaborate scams uncovered by NSW's consumer watchdog has international links to the Netherlands, England and Hong Kong.
It places bogus ads online with bargain prices and asks people to deposit a bond or payments into a Western Union account.
NSW Fair Trading Commissioner Rod Stowe on Monday announced a crackdown on www.realestatemanagementltd.com.
For example, the site is advertising a two-bedroom unit at Harrington Street in Sydney for $550 a week.
The photos and wording of the ad were copied from an ad placed early last year by a local, reputable real estate agent which continues to manage the property.
A two bedroom unit in the same building is up for lease on www.realestate.com.au and www.domain.com.au for $1350 a week.
"The offer is too good to be true," Mr Stowe said.
He said the server hosting the website was based in the Netherlands while the domain name refers to a false address in Hong Kong.
"The website www.realestatemanagementltd.com comes from a residential address in London that is also linked to a large number of other businesses," the consumer watchdog said.
It's calling on overseas internet service providers to shut down online real estate scams.
"Often internet service providers don't want to be associated with this kind of thing, so it's in their interest to remove it," Mr Stowe said.
But there is hope for people who fall victim to the scams and have already paid money to Western Union accounts.
"I am determined to exhaust every option to fight scammers ripping off consumers and am pleased Western Union is prepared to join the fight," Mr Stowe said.
"They have offered to fully investigate complaints involving the international transfer of funds for goods or services never delivered."
The Fair Trading international student consumer guide warns about fake rental ads and advises students to visit properties and make detailed inquiries before paying money and signing leases.
NSW crackdown on home scam | The Australian
