CBS news ran a report last night on renters being booted out because owners are in foreclosure. Very interesting, but I feel sorry for the people who have faithfully paid their rent. Question....what was the owner doing with the money? Should have been making the mortgage payments, right?!!!!

thats aweful if they were paying their rent, i couldn't imagine just being thrown out like that, do they have any recourse of action i wonder 

I would think they do have recourse.  They could sue the landlord for breach of contract.  I feel so sorry for them.

Sadie2207:

I would think they do have recourse.  They could sue the landlord for breach of contract.  I feel so sorry for them.

I'm a landlord and yes,they can sue for breach of contract. Just like landlord can if renters bail out from theirs.

 Brisky, you are right.But I come to the defense of the landlord in this case. Unless there is a proven article that they wasted the renter's money, we should not be so quick to judge them. I am a lanlord also and many times the renter's have done so much damage to the propertie's, that you end up putting the money collected back into the property to keep it rentable. This may have been the case here.

We had a renter that lived in our peoperty for a year,( 65 year old retired boilerman). He gave us a month's notice he was moving and left. We went in to get it ready for re-renting and found that the water heater was leaking. It had to have been leaking for 4 months and he never said a thing to us. The walls, carpeting and flooring was full of water. When we called our insurance company they refused to pay the claim because they said it was homeowners neglect. We lost a year's worth of rental income and had to oay out of pocket to remodel. 

Thanks for the news.

If the landlord lost his job to someone in south America (can't resist political note) he could have been living off the rent income.

If the lease is a month to month the landlord can terminate it with a 30 doy notice and the renter has no recourse.

rosebud07:

 Brisky, you are right.But I come to the defense of the landlord in this case. Unless there is a proven article that they wasted the renter's money, we should not be so quick to judge them. I am a lanlord also and many times the renter's have done so much damage to the propertie's, that you end up putting the money collected back into the property to keep it rentable. This may have been the case here.

We had a renter that lived in our peoperty for a year,( 65 year old retired boilerman). He gave us a month's notice he was moving and left. We went in to get it ready for re-renting and found that the water heater was leaking. It had to have been leaking for 4 months and he never said a thing to us. The walls, carpeting and flooring was full of water. When we called our insurance company they refused to pay the claim because they said it was homeowners neglect. We lost a year's worth of rental income and had to oay out of pocket to remodel. 

Rosebud

  Believe me I wasn't defending the renters.  I was just confirming that it was their right if they wanted to pursue that avenue.

I just went thru what you're talking about in Oct. 2007. I was so taken away by what the house looked like when they moved and the garbage and junk that was left behind that we had to have hauled away was unreal and to beat this they thought they should get their deposit back,,not from this landlord,,they didn't give me no hassle about it either.

It took one month to get ready to rent again and we live at least 2 hrs away, driving this just about every day. My wife wanted to go ahead and sell when we first seen it but decided to hold it after we got done. I like being landlord but it's very risky..Guess that's why I like the stock market, it's also risky

Reward comes along with Risk

The higher the risk the higher the reward,,also  higher is the loss

We must all be willing to take risk if you're going to get somewhere, Just try to manage the risk to your favor

Goodluck trading

i have comtemplated buying rental property as a source of income but i have heard too many horror stories.

the landlord should be put in jail and made to pay the relocation of the renter's.

i think the idea was people who payed their rent just hard working family types. it is a whole other story if they dont pay there rent or they trash the place.

right