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Renters: How To Make Sure You Are Not Left Without A Place To Live
I received a phone call with a simple question the other day: "I'm thinking of renting from a private owner. If somewhere in the middle of my lease the property-owner is foreclosed on, could I end up on the street, even if at that time I am current on my rent?" Sad to say, the answer I had to give was "Yes!"
The next question was: "How can I know if the Landlord is in trouble before I sign on the dotted line of the lease?" I responded, "It's not always possible to know, but you could ask him/her for proof from their bank in the form of a letter that would indicate they are at least current as of this moment in time with their payments when you will be signing the lease". The landlord might refuse and perhaps you will feel compelled to go elsewhere to rent, but this is one possible approach to the issue of your landlord loosing his property and you being out on the street.
I know this blog is quite disturbing for some; the subject even causes me to feel uncomfortable and I'm not renting. Remember though, knowledge can often be power in Real ... more

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