Real Estate Agent · Austin, TX · Member since 2017 · 229 posts · 259 votes
Would you rent a unit to a homeless organization? What are your fears about doing so? Are there any advantages? I found myself pondering these questions after reading the following article:
Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
7y
Just one of my houses? No way. The article talks about buildings that aren't going to be used, so let the advocacy center use them in the meantime. I can see pros and cons to it. From a building owner point of view, I wouldn't do it unless there were financial advantages, because I can envision a whole list of cons:
court injunctions preventing you from emptying the building to do something with it
lawsuits by the advocacy and others because of [insert issue here]
insurance considerations
general lack of oversight and lawlessness
ETC
If I owned a building, the only way I would do this is if the building was junk anyway, some third party was leasing it from me, and I was legally absolved of any responsibility whatsoever in the operation. Personally, I think it sounds too complicated.
Investor · Taylor Mill, KY · Member since 2016 · 2k+ posts · 964 votes
7y
@Beau Fannon I've heard the VA has a program for homeless vets to get re-integrated. VA pays rent and helps them with therapy, job placement, and supposedly has strict rules which allow them to take the vet out of the program if they randomly stop by and find something against their rules (people in the unit that aren't supposed to be is one).
Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
7y
Just one of my houses? No way. The article talks about buildings that aren't going to be used, so let the advocacy center use them in the meantime. I can see pros and cons to it. From a building owner point of view, I wouldn't do it unless there were financial advantages, because I can envision a whole list of cons:
court injunctions preventing you from emptying the building to do something with it
lawsuits by the advocacy and others because of [insert issue here]
insurance considerations
general lack of oversight and lawlessness
ETC
If I owned a building, the only way I would do this is if the building was junk anyway, some third party was leasing it from me, and I was legally absolved of any responsibility whatsoever in the operation. Personally, I think it sounds too complicated.
Investor · Columbus, OH · Member since 2017 · 861 posts · 1k+ votes
7y
No, I would not rent a unit to a homeless organization. It sounds like they would "have the right" to put just anyone in, and I dont have the framework in place to deal with possible behavioral, emotional or substance abuse issues that more qualified environments would offer.
I may rent a unit to a specific homeless person or family that I vetted. If I understood what made them homeless and believed that specific situation would be harmonious and successful, I would be happy to give them a home.
Rental Property Investor · Dallas, Austin · Member since 2018 · 246 posts · 213 votes
7y
No. Never. Too much of a headache. Now, in the past I’ve rented to a family that had faced financial hardship. I knew they would get back up on their feet and they did. They paid rent at the end of the full year and they did some renovations like hard wood floors to the home for a token of appreciation of allowing them to live and pay rent all at once. Of course I always knew that the worst case would be i wouldn’t get the rent, but I knew them well enough. Something like that would have to be such a unique situation. Aside from that, nope.