We operate a full service property management office, and with the increase of foreclosure properties, we are getting an influx of tenants who need rentals fast as they are being asked to leave their homes as the banks foreclose.  Additionally, even though we try and verify all our management properties, we have received a few notices of Lis Pendis that has scared our Tenants and thus they want to break the lease.  This is a big problem in our area as we have discussed with our legal team ,and there is no clear cut answer to how to handle these situations and still protect the landlord and the tenant.  I personally feel that the landlord should be responsible for keeping their property financially secure since they are receiving the rent and they owe it to the tenant to provide them with a safe, secure rental home.  However I understand that many times the rent amount does not cover the mortgage on the property, and that is where the homeowner/landlord gets into trouble.  At the same time the tenant has agreed to a lease term and should live out the term even in the home is in pre-foreclosure.  In many cases the foreclosure will take longer to complete than the term of the lease and the tenant is not put out.  Try explaining that to a tenant that is worried about being thrown out in the streets!!!   Over all this is a bad situation and there are no winners!!!  Lets share our experiences with this growing problem and maybe we can help each other learn and grow and handle this better for all of our clients!!!

 
Posted by Harvey Rosenberg on 08/07/2008 07:26 AM   Comments (3)  
Short URL: http://actvra.in/rQc

How many realtors are left?
08/06/2008
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Wow what a strange couple of years we have seen in the real estate industry!!! I think about 2 years ago we must of had twice the number of realtors than what we have now!!! I have seen offices go from over 400 agents to now only have 75. I do not… more
Lock Boxes… Electric or Combo?
08/06/2008
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The question is which type of lock box do you use and why? See I use the combo type since I supply them for the entire office and they are much less expensive at only $10 bucks each. I like the idea and the additional safety from the supra… more
Does anyone HaveDigital Telephone Service?
08/06/2008
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I am curious to see if anyone has digital telephone service in their office from one of the local cable/internet companies? We have brighthouse networks here in central Florida and they offer a great deal on Digital phone service delivered via cable… more
Freddie's 2nd Qrt Loss… Who cares?
08/06/2008
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Ok, so all we read in the news now adays is how Freddie and Fannie are losing money not stop and the bleeding must stop!!! But really who cares… no matter what the Fed will bail them out with our tax dollars. I am a Little concerned with all the… more
Dangerous dogs in Home!!!
08/06/2008
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I am curious to see how many other agents have experience a similar run in while showing homes? Last week I was showing a home to one of my clients and we were looking at the home for about 5 min when we headed towards the master bedroom. About 5… more
Gas Prices change your Work Habits?
08/06/2008
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I am curious about how the cost of Gas and the constant increase in gas prices have changed the way Realtors are doing business? It seems that more agents are working from home, rather than come to the office. Additionally, agents are pre-qualifying… more
Agents Wanted for Exit Realty Professionals Elite!!!
08/05/2008
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**THAT'S RIGHT!! $1, 000 SIGNING BONUS! **** Things we offer our agents for FREE!!!!!!!! FREE Desk space FREE Use of Office, copier, fax & supplies FREE Yard signs, lock boxes, flier boxes FREE Advertising on over 30 venues!.. more
Exit Realty In Florida offers $50, 000 bonus
08/05/2008
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What would you do with $50, 000. 00 - THAT'S RIGHT $Fifty Thousand Dollars$? EXIT Realty Florida has a great opportunity for their Sellers to add an incentive to help sell their homes - the buyers agent has the 1 and 100 chance of winning $50, 000. 00… more
Rental available near Orlando
08/03/2008
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Harvey Rosenberg | Exit Realty Professionals Elite | harvey@exitrealtyproselite. com | 352-404-5942 2106 Laural Blossom, Ocoee, FL Like NEW 6 or 7 bedroom 4. 5 bath-3 car garage! Lots of Space 7BR/4. 5BA Single Family House $1, 750/month Bedrooms 7… more
 

Harvey Rosenberg

Clermont, FL

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