You are learning a lesson, too. This will be of no help to you, and you will feel like a douchebag for a long time. Enjoy. |
Op here. Why are you scared and deeply sad because I reported what might have been an illegal group home? At a minimum, a non-licensed rental property means it's not subject to city regulations governing the safety and wellbeing of rental properties and leaves tenants at the mercy of unregulated landlords. Is that a good thing? Perhaps I did a service? Who knows. |
It's time for me to say goodnight. I'm off to bed. |
So it is a 5 bedroom, and they are asking $1k a month per room with PITI $4k. Their expenses, maintenance, etc are on top of that. You think they are making bank on this? You are delusional and also psychotic to be invested in this…. but they are probably more delusional for thinking this will make them money. |
Ehhh. Housing regulations are made for a reason. People have died because of illegal rentals (such as basement floods or lack of fire escapes) not to mention occupancy limits are created due to parking and other considerations.
This is one of those scenarios in which this particular house isn’t likely to cause too many problems (assuming it’s not a slum rental). However, as I tell my kids when they try to skirt the rules on things, “what if everybody did this?” What if everyone suddenly turned their home into an unlicensed rental? Why are these owners entitled to not follow the law? I do feel bad for the tenants. The rich owners have really screwed them over by not having an above board lease. I don’t blame OP for this. If it’s posted online they were bound to get caught someday. |
Enjoy your dreams. Keep thinking you are a hero for saving the world from poor grad students! |
op well done, you possibly financially ruined someone, maybe a family with a sick kid looking for a passive income while they cared for them, maybe an elderly person without any other resources.
slow clap for the fascist feck |
But why should an out of state investor benefit from an illegal rental (who knows if they’re even paying taxes or meeting safety codes) instead of the house being on the market for an actual individual to purchase as a potential primary home? |
Exactly. I’m team OP. |
+1 These are the homes that usually don't keep up on the maintenance either. |
This. Who does this kind of sh**. OP is a troll or needs a life (actually OP needs a life either ways since trolls don't have anything better to do) |
Ok, Karen. |
More likely that they wanted to evade taxes. |
OP sounds like a rich manipulative piece of work herself. |
OP here. No. I was thinking the same as you. That if someone bought this as an investment, they're not being very smart, which is why I do wonder what the full story is behind the house. Possibly they bought it with the intention of moving in then something changed and they couldn't and are thinking they can rent it out as a group house for more money rather than a SFH rental because based on the scant rental data I have for SFHs, this would probably rent for 3500-4000, below the hypothetical 5k+ as a group. Mind you, if they took out a conventional mortgage then they're probably in trouble with the mortgage company sooner or later because mortgage rates are different for properties bought as rentals. Sooner or later the illegal group house would have been discovered and reported. House closed last December. I'm not feeling guilty and I'm laughing at the hysterical people on here thinking I deprived poor students of housing. I doubt most of you own houses in family neighborhoods. I really am not cackling and being gleeful. I do feel sorry for the owner if he or she thought they were just making a decent investment near a university and didn't do their research carefully. |