August 08, 2010

Slumlord

Story in today's paper, click here.   I never understand these stories.  The truth is there always going to be two knds of landlords:

  1. Good
  2. Bad
For those tenants that have bad landlords, they have rights and right on Main Street in downtown Worcester on the third floor there is a Housing Court.  The do an excellent job protecting tenants.   Legal Aid will even represetn income eligible tenants for free. 

The City of Worcester has an inspectional services division run by Amanda Willson that does an excellent job.  Call her.

To top it off if a tenant has subsidized rent through the WHA (Section 8), they have an unreal inspection now.   The littlest thing needs to be corrected.  

Seriously where is the story here.   The simple answer here is if you have a bad landord a tenant has recourse or they can simply move?  The thing that jumped out at me more then anything was the sale.    This was happening all the time.

The scheme was simply.   Let me give you an example:
  • I find a guy or girl who does not care about what happens to their credit, lets call him Jahn
  • I sell my 3 decker to him for 350,000
  • We get him a mortgage and an appraiser who works with us
  • Once the deal closes I get my 350,000 but kick 30,000 back to Jahn who I tell to beat it . Don't collect any rents don't pay any mortgages.  Hey, I might even keep collecting rents and not even tell the tenants I sold the place
  • Eventually the mortgage forecloses and I offer to buy back for 50,000

2 comments:

Steve Foley said...

Bill Wrote: "The simple answer here is if you have a bad landord a tenant has recourse or they can simply move?"

I've never been able to 'simply move'. It's always complicated, especially when my brothers help.

Paulie's Point of View said...

the problems Sanchez is complaing about usually are present when moving in..something tells me that his family is a recently adopted one and not biological one:>)Yah think Sanchez has recently moved in with this family like so many men in this city do?

Just thinking out loud here Senor Pedro Jahn