Quote:
Originally Posted by fintstone
While I imagine all the above is true, as a businessman faced with potential squatters/inability to evict tenants, I would have to keep rents high enough to cover the potential loss of at least 5 or 6 months of rent every couple of years vice the typical one month every couple of years I do for my properties.
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I’m sure you and all landlords do but that is not the reason for high rental costs in highly desirable locations like coastal California or the tri-state area etc
Also keep in mind that the scenario you post is not a squatter situation. It’s a tenant who is in breach of contract with you by not paying rent
A squatter is someone with no written contract with the owner. Basically it a someone who walks into an empty house off the street and claims it for themself.
If the owner were around and cared, a simple 911 call to the cops would resolve the trespasser
This -squatter situation-happens exponentially more in the case of abandoned foreclosure homes rather than rental situations....key word is abandoned, whether intentionally or because of death doesn’t matter
I represent mortgagees and see this every single day. It’s a major issue especially considering the damage to the property that occurs by squatters....pipes fixtures appliances windows etc.....
“Squatters” are not something that plague your average landlord