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Because the private equity firms invested in them would rather them fester and rot than offer them to low-income people in need.
by fjp 8y ago
Because the private equity firms invested in them would rather them fester and rot than offer them to low-income people in need.
- rabidrat 8y agoTo be honest, I've been a landlord of an underwater property I couldn't rent, and decided to be nice to a low-income person in need. Within short order her alcoholic boyfriend moved in and triggered her latent alcoholism and the parties started happening and ultimately the place was left worse off than when they had arrived. Luckily they did not create the aforementioned meth lab or cause any structural damage. But these days I'm much more sympathetic to property owners letting their vacant property lay fallow, rather than incur the liability (financial and/or legal) of helping someone out. As they say, no good deed goes unpunished.
- m0llusk 8y agoProperty management is a profession with accompanying knowledge. Watch for trouble and evict bad tenants quickly. Laws that make things easy for landlords encourage better practice and markets that function better for everyone.