Why dont they decide to rent foreclosures?

[Bill F]

Does anyone think there are WAY TOO MANY empty sitting houses that banks own? Just sitting there empty for 2-3 yrs now....and there are so many good people needing affordable houses to rent in this area..,...Does anyone know why banks dont just rent them to get some money for them at least or rent to own??? SEEMS LIKE A GREAT IDEA!

 

[clindberg]

great question

I would love to know an answer to this too!

 

[Zebraspots]

They are sitting empty because in many cases the banks have not finished foreclosing on them. Until this happens the bank cannot rent them out because they do not have legal ownership.

I agree that renting them out would be better than letting them sit vacant.

 

[Bill F]

i have seen houses sit for 2 yrs!!!!!!! and told bank owned on them.....

 

[beachmouse]

Being a landlord is a hassle, and few banks want to get into the property management business and the hassles or liability associated with having to deal with tenants.

 

[Maystrong]

I have often thought this would be a great business concept to offer a "service" to banks to manage their foreclosures as rentals......if you end up implementing this idea, you better hit me up with a thought "finder's fee"!
LOL!

 

[Bill F]

Please!!!!!!!!!! Lol

Being a landlord is a hassle, and few banks want to get into the property management business and the hassles or liability associated with having to deal with tenants.

BEING A LANDLORD IS A HASSLE????? Please....... Dont make it sound like SUCH A DIFFICULT JOB! LOL I was a landlord to two house and if "you know what your doing" and know how to get good tenants......its pretty much like sittin pretty bringing in money!!!! lol Dont make it out to be like were all stupid here. And in this area the people who own houses hide behind "a property management anyways!!! lol TELL THE BANKS TO JUMP ON THE SITTIN PRETTY MAKIN MONEY BANDWAGON.......

 

[Bill F]

Being a landlord is a hassle, and few banks want to get into the property management business and the hassles or liability associated with having to deal with tenants.[/QUOT

""hassle of having to deal with tenants????"" shame on you, we are the ones who make you landlords rich!

 

[Jdarg]

There are a few houses in our neighborhood that will most likely have to be torn down- they have been sitting empty for so long that the neglect and damp has ruined them beyond repair. If they had been rented, they would have been maintained and salvageable. Now the banks own a bunch of basically derelict houses all over South Walton.- seems like it would have been cheaper in the long run to hire somebody to manage them as rentals.

 

[Bill F]

I totally agree with you Jdarg. It would help SO MANY PEOPLE who are needing to rent and banks would at least make some money! Any property management people or bank people or realty people agree?? any reasons why they dont???