Quote:
Originally Posted by speeder
Before people start in w the ownership argument, being a landlord is a little unique. You might own the property but you did not pay for it, your tenants did. If this is not the case, you suck at owning rental property. Furthermore, I'll bet dollars to donuts that this guy or his family has owned the property for a long time and paid nothing for it and that this 102 year old tenant has been making their mortgage payments for 30 years. When you own rental property, the units are income generators for you but to the tenants, it's their home.
I realize that it's not completely one-sided and good landlords provide quality housing at fair prices, maintain their properties well, etc. They are a vital and necessary part of the economy, especially in CA. where most people cannot afford to buy a house anymore. What this landlord is doing is extremely unethical, IMO. This old lady has been paying his mortgage or putting $$ in his pocket for 30 years and now he doesn't need her anymore. He found a better deal. I'll bet that when she moved in, he was thanking god for a good tenant that was a single, mature person who would not cause trouble and the supply/demand recipe was much different then. I moved into an apartment 20 years ago and they were begging for tenants. Now it's the other way around, people begging for apartments. So that's what's happening.
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^Fair, and I, too, think there may be something nefarious going on here. But if a landlord/investor is going to risk his capital, society has to balance tenants' rights with investor risk, else there will be no where to rent.