Shady Landlords Thriving on the Foreclosure Crisis

Posted on April 24, 2009
Filed Under Repo Homes | 2 Comments

Not ordinary law abiding landlords but fiend landlords who have never been known for their honesty are now thriving in the foreclosure crisis. Previously there rates were low but now they are boldly hiking fees as the crisis worsens and people are becoming homeless.

These fiend landlords are usually drug addicts who rent out foreclosed vacant houses to earn money to keep themselves on the high. These drug havens have multiplied with the worsening of the housing crisis.

Thousands have been evicted from repossessed houses and hunting for rented accommodation. It is a difficult task. With rise in demand, rents also have been shooting up in San Francisco.

There are many personal stories surfacing. When the boyfriend of one lady died the landlord refused to renew the lease unless the rent was doubled. The lady had no alternative but to walk out leaving behind most of her belongings.

Another woman who had worked for ten years in a firm getting promotions and raises suddenly found herself without her job. She lost her house and did not know where to sleep as she had no savings to fall back on. She was lucky to find a friend who had a room to spare and share. But the sharing partner turned out to be a drug addict who badly needed money for obvious reasons.

Another unfortunate victim recounts that life started the rough way when he was thrown out of the house by his father at the tender age of 17. Without a fake identity it was difficult to rent an accommodation at that age. A local drug addict and friend offered a spare room for $100 per week – cash to be paid every Tuesday morning. It sounded fine initially until the victim found out the rules of having a dope-fiend landlord.

The rent is only for the space being occupied – all other amenities like water and electricity will have to be paid for extra. One should be prepared for the unexpected like sudden enhancement of rent. Extra fees could be charged if the landlord becomes displeased with way the tenant dresses. The better the dress the more becomes the rent. The tenant has to lock the door at all times – a safe lock that cannot be picked. Paying the rent does not guarantee shelter. Any moment the locks can be changed and the belongings thrown out.

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