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MUST READ (by Joe LL [CO]) Oct 17, 2020 8:41 AM
       MUST READ (by Joe LL [CO]) Oct 17, 2020 8:44 AM
       MUST READ (by Ray-N-Pa [PA]) Oct 17, 2020 9:52 AM
       MUST READ (by plenty [MO]) Oct 17, 2020 9:54 AM
       MUST READ (by Joe Ll [CO]) Oct 17, 2020 12:32 PM
       MUST READ (by Still Learning [NH]) Oct 17, 2020 12:40 PM
       MUST READ (by Robert,OntarioCanada [ON]) Oct 17, 2020 3:31 PM
       MUST READ (by JB [OH]) Oct 17, 2020 3:33 PM
       MUST READ (by Landlord ofthe Flies [TX]) Oct 17, 2020 4:53 PM
       MUST READ (by MikeA [TX]) Oct 17, 2020 10:48 PM
       MUST READ (by cjl [NY]) Oct 18, 2020 9:39 AM
       MUST READ (by Vee [OH]) Oct 18, 2020 1:33 PM

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MUST READ (by Joe LL [CO]) Posted on: Oct 17, 2020 8:41 AM

MUST READ (by Joe LL [CO]) Posted on: Oct 17, 2020 8:44 AM

The Tenants Who Evicted Their Landlord!

MUST READ (by Ray-N-Pa [PA]) Posted on: Oct 17, 2020 9:52 AM

I believe we all have a couple of units that we would gladly sell to our residents.

MUST READ (by plenty [MO]) Posted on: Oct 17, 2020 9:54 AM

Wow there are some powerful nuggets mixed in there. Must read for sure. Whezz .thanks for sharing that.

MUST READ (by Joe Ll [CO]) Posted on: Oct 17, 2020 12:32 PM

Yep plenty-Quote: Landlords have taken notice of the rise of tenant mobilization. “It’s a bigger part of the conversation today,” said Robert Pinnegar, president and chief executive of the National Apartment Association, a trade organization for the rental housing industry. “The adversarial environment really is taking a toll on the people who run the rental housing.”

LL Just noticing.. psst -past due to unite and mobilize!

“ Tenants hung a giant banner that read “People Not Profits” and chanted, “Down with the landlords!” Later that month, tenants and landlords packed City Hall during deliberations about a proposed local ordinance that would cap security deposits and restrict tenant-screening criteria.”

>>Look at landbanks, the tides rising Big money and gov positioned for socialize housing, ready to pounce in a hostile takeover. make a moat, or get a boat and sale off into the sunset!

MUST READ (by Still Learning [NH]) Posted on: Oct 17, 2020 12:40 PM

Certainly interesting but there were some things I picked up on, roaches, leaking roofs, refusal to keep property up, underhanded dealing to still own property after being stripped of that due to failure to upkeep property. I’m not saying there isn’t a movement beginning but I don’t think my tenants want to own the building. They prefer to call me to deal with things. When they want to own they leave and purchase.

MUST READ (by Robert,OntarioCanada [ON]) Posted on: Oct 17, 2020 3:31 PM

Nothing new but problem is if there is universal health care where modern medicine is expensive then where is the money going to come from. It is not uncommon for a smaller apartment building where they are losing a $100,000 dollars per year in operating costs where that is not sustainable. There is not enough money in the entire provincial treasury to buy out all the rental housing then maintain it to decent standards. While non profit may sound great but in reality when someone is managing other peoples money it is going to spent well. With the huge deficient as a result of pandemic that seems less feasible. The problem is the extreme left wing tenancy advocates do not even understand the operating costs of running a rental apartment building as the chairs actually own their houses. They allege about the problem that exist in less one per cent of the apartment buildings when they have legislated slums which is called rent control. Unless there is a dictatorship then this pipe dream will never become reality in democratic elected government. Some tenants buy their houses then reality hits where the expensive cost of repairs such as replacing a roof, furnace, windows, plumbing repairs, electrical work is not cheap.

MUST READ (by JB [OH]) Posted on: Oct 17, 2020 3:33 PM

Buying the complex at $143,000 a unit Zero % financing at 25 years is a payment at almost $500 a month before all expenses . How much is that a unit for light, heat, property taxes, repairs, maintenance, etc. on a monthly basis. 6 months will tell who is going to manage the complex. Who gets evicted and not paying bills.

Good luck to the new coop owners. Welcome to our world.

MUST READ (by Landlord ofthe Flies [TX]) Posted on: Oct 17, 2020 4:53 PM

Wonder if there's an opportunity there? Build an affordable apartment complex and sell each unit to the members like a cheap condo. Maybe maintain the unit for a fee. Let the bank take the risk of non-payers.

The article mentions past examples of co-ops, but fails to follow up on them to see how they are doing now or if they're still in existence. Of course that would be reporting, not political messaging. I have to think though, if co-ops were successful, there would be more of them, and it would be commonplace.

Sadly, I see a future where the government places a heavy hand on the rental economy, but to what extreme, I don't know.

MUST READ (by MikeA [TX]) Posted on: Oct 17, 2020 10:48 PM

Co-op housing is nothing new. It was popular and received a lot of news coverage in the 1970's. Most of them failed within 5-10 years. People didn't pay into them, the building fell into disrepair as a result, no money was put aside for major repairs, no one could sell their interest and they were sold out or foreclosed on. Same story different verse. Everyone thinks that landlords are making 90% of what they pay in rent when in reality it is more like 10%. When they figure out that they have traded their landlord for an equally heartless co-op and are only paying 10% less and are locked into having to stay in the same place because they are tied into the ownership they learn a hard lesson. I see no different outcome here, same rental situation, people are probably more entitled now, worse legal recourse for dealing with non-payers, same lack of business savy by the co-op leadership. If it does gain traction, the pendulum will swing in a few short years as it did before.

MUST READ (by cjl [NY]) Posted on: Oct 18, 2020 9:39 AM

Yeah I'm with Still Learning ... I've had some renters that end up purchasing a home and others that will never ... they call me when they have spiders in the house (sigh). --67.242.xx.xx

MUST READ (by Vee [OH]) Posted on: Oct 18, 2020 1:33 PM

Perhaps transfer the deed to one of the mayor or governor staff and see the change occur.

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