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You can sublet and pay people in cash for a lot less than the official renting price. This is particularly true in places with high real estate prices like LA,
by throwaway688 9y ago
You can sublet and pay people in cash for a lot less than the official renting price. This is particularly true in places with high real estate prices like LA, NY, NJ and SF where there is rent control. Thus it incentivizes long-term tenants to sublet for a sub-market price.
You can't really buy a house in such a fashion though.
- Cerium 9y agoFYI, mortgage qualification needs a years rent payment proof, ideally in form of bank transfer or bank check entries. If you pay cash and want a house soon, make sure to get written recites for those cash payments.