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Are you living in Boise rental property? Are your bags packed?

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One of the articles I have read recently was about investors losing their property. Investors get into trouble because they got into a bad loan or are just financially strapped and losing the property. The real problem is for the renter though.

The problem is that the renter is kicked out without notice. The property owner has no obligation to inform the renter that the house is in trouble and being given back to the bank. According to the article the renter can arrive home and find their stuff outside and the locks changed.

It seems lately the theme on this site for blogging is whatch your back. The good news is that that this story like many is a seldom occurence but gets a lot of attention. The good news is also you can learn from others mistakes.

Trey Langford
BuildingCredibility.com

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Posted by tlangford at 6/26/2008 6:11 AM

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Comments (1)

Re:Are you living in Boise rental property? Are your bags packed?

Great post.

I would warn anyone not to rent from a landlord who has purchased the home or refinanced at any point since 2004. We are still looking at another 15% downside in local housing and Boise is still on the beginning of the foreclosure curve. 95% of anyone who bought post 2004 is or will be underwater shortly. Get public lien records...if the rent is lower than the likely debt payment beware...lots of landlords are not able to charge enough to cover their costs.

Posted by emdeplam on 6/27/2008 1:26 AM

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