Is this legal?
I want to show you something going on in these real estate streets.
According to the article, the residents in this apartment building must vacate their homes immediately because the landlord received notice the building failed a Section 8 inspection. The inspection was done in response to the complaints from the tenants.
Because of the failed inspection, no more rental payments will be paid, and the agreement with the housing authority will be terminated.
The landlord wanted this to happen.
The landlord was intentional with not making repairs because he wanted the tenants to leave by a real estate term called:
Constructive eviction: a tactic in which landlords refuse to make improvements to their property, making the property inhabitable for the tenants to remain.
You can’t evict someone who is paying rent so the landlord chooses to evict by making the tenants have no choice but to leave.
This is legal.
So why is the landlord refusing to rehab the apartment when Section 8 is making monthly payments?
As an investor, you have to consistently study the market and determine the highest and best use for your property.
I believe the landlord knew that he could get higher rents.
So the landlord used this tactic to get the tenants to leave voluntarily.
This landlord will then make the repairs needed, and increase the rent to market value. Therefore giving him income to cover the expenses plus give him larger profits.
The lesson:
As an investor, you have to always know the highest and best use of your properties and manage them accordingly.
Affordable housing will always be in demand, it’s a matter of buying the right property for the numbers to make sense according to the fair market value.
If you are one who wants to reinvest back into your communities where this is happening, to provide affordable and safe housing the time is now to become an investor. This article is proof that you are needed.
