Posted by: phillipsre | October 8, 2013

Landlords Open Doors For The Homeless

homelessLandlords in Nashville, TN are taking a risk these days and opening up their apartments and rental properties to the homeless. This story from Marketplace, on NPR reported that these landlords are overlooking the drug addictions and criminal records of these chronically homeless people in the city of Nashville and renting to them no matter their past history. The tenant will still be required to pay a minimum of $50 a month and a maximum of 30 percent of their income, often Social Security payments. The landlords are definitely taking a risk and putting a lot of trust in this group of people. But as they said they believe it is the right thing to do. Some of these folks still might be evicted if they can’t make the minimum payments or if they end up causing trouble with the other residents.

For the management company mentioned in the article, they have over 2500 units, only a small portion are rented to the homeless, it might a nice option for properties that harder to rent or in less desirable neighborhoods. It brings up an interesting discussion if this is something that could be beneficial with all the new buildings popping up all over town, not just in Seattle, but all over the country? Maybe there should be more buildings like the Nyer Urness House, which is a new building in Ballard that is specifically focused for homeless that are ready to make a positive change in their life.

What ever the end result, it brings up an thought provoking question for landlords: Are other landlords willing to take the risk on these people in order to bring down the homeless epidemic?


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