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Foreclosures and Inconvenienced Tenants
October 27, 2009 - Sylvia Heldreth
The impact of real estate foreclosures can be seen and felt in many ways. Recently, blanket receivership actions have been approved by courts giving associations the right to rent out abandoned units and collect rents from tenants leasing from investors who aren't paying association fees.
Tenants are finding red signs on their doors that notify them that a receiver has been appointed and if they don't contact the receiver within 48 hours, their locks will be changed. Some of these renters are snowbirds who haven't returned yet. It doesn't seem right that the tenants who are paying the rents will be inconvenienced.
What do you think?
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