Re: [Mpls] Real and Imagined Risks

[WizardMarks]

Gary Bowman wrote:

I didn't mention this in my original post, but I am in
a house that was turned into a duplex. When I first
purchased the place five years ago, I rented the
upstairs out to people I **personally knew**. Ultimately, I didn't get paid a lot of rent and ended
up going through the very unpleasant process of
evicting them because of it. Plus, these people kept
their living space in such horrible filth, I was
constantly worried about pest infestation.

WM: This was my early experience in renting the other half of my duplex early on. I got stiffed for a huge amount of money (for me, in the first year of owning the house) by people who called themselves friends.
My solution was very different, however. I went to the Inspections Dept. thinking to have my house re-designated as single family, though it had earliest been a duplex, then a rooming house, then a shelter for battered women and children, then vacant for over a year.
Inspections told me that there is a designation, "duplex being used as a single family." I still live on the first floor and my two or three roommates (this fluctuates to a certain extent) live upstairs. My intention in buying this building was only to have help in paying the mortgage and the basic bills, but I found a very wonderful home with delightful roommates (house mates, really) and we have become an intentional family as a result. We even have a daughter, though she's grown up now (an excellent process to participate in, good mental and emotional growth was had by all). Every person here had been homeless or as near homeless as makes no difference (sofa surfing and dumpster diving).
We have luxuries we never dreamed we could have (three bathrooms, three phone numbers, two computers even, washer and dryer, an address, a way to stabilize to find employment, store bought food every day). My house mates even allow me to live mostly alone, something I've dreamed of since I was 10. There are tons of creative solutions to the affordable housing dilemma being tried successfully every day.
I had to give up the notion of living entirely alone, but what I got in exchange was a gold mine. No money, of course, but I've lived so long without it I daresay a sudden flood of bucks would make me giddy and foolish.
WizardMarks, Central

Have you considered that maybe people get into the
rental business to serve a needed function (and again,
I repeat it is a needed function of the city.  A lot
of people aren't willing and/or ready for home
ownership)?  Yes, they make some cash, but shouldn't
they make something for the risk they take?  Why do so
many on this list seem to believe that people should
put their money and effort into the city and get
absolutely nothing in return?  This is a completely
unreasonable belief.

I personally have at least not asked for massive
subsidies for my investment, not even -at least thus
far- NRP dollars for home repairs.

What I seem to hear in subtle manner too often on the
list is that every person who is willing to risk their
own cash they've worked hard for in the city is
nothing but a soulless bloodsucking human being.  Then
you wonder why there's some animosity.

Gary Bowman
Audubon Park

--- Andy Driscoll <[EMAIL PROTECTED]> wrote:

This post points up a major problem with the rental
business. Landlords see
themselves at war with their own clients - their
renters. If any business
were this miserable for its owner(s), they would
abandon it for something
else.

But it's not. It's a huge, wealth-making business,
often at the expense of
decent living conditions for their clients, and most
landlords would just as
soon limit their clientele to nice, well-heeled
white folks. But they buy
into areas they themselves declare risky, then whine
about the risks and
ignore the conditions of their buildings using their
terrible renters as
excuses for withholding repairs and maintenance that
would make the living
conditions � and their relationships with renters -
better.

All the while they rake in the money.

Andy Driscoll
Saint Paul
--------
I (cannot) submit the whole system of my opinions to
the creed of any party
of men (and women) whatever in religion, in
philosophy, in politics, or in
anything else where I was capable of thinking for
myself. Such an addiction
is the last degradation of a free and moral agent.
                                   --- Thomas
Jefferson (updated)

From: Gary Bowman <[EMAIL PROTECTED]>
Date: Sun, 8 Dec 2002 21:19:03 -0800 (PST)
To: Minneapolis Issues <[EMAIL PROTECTED]>
Subject: Re: [Mpls] Real and Imagined Risks

I would remind Mr. Mork, and the list, rental

property owners take risks

beyond what's suggested below.

Yes, landlords do cushion themselves with first

and last months rent (or one

months rent and a deposit). However, a less than

honorable tenant can

quickly do far more damage to a property than this

"cushion"- especially if

they decide "it's not my property, so why should I

care?".  I'm not implying

all, or even most, renters would do intentional

damage.  But, guessing a

month's rent to be about $500-600 and a deposit of

perhaps equal, it would

take not paying a month's rent and some carpet

damage to level this

"cushion".

For small property owners, such as an

owner-occupied duplex or fourplex,

such a hit is a HUGE risk to take. And, if this

small property owner doesn't

have other resources to repair damage done, it is

going to be difficult to

keep your property value up, or even be able to

continue to rent your

property.

Let's remember, rental property owners serve a

needed function in

Minneapolis.  They provide a place for people not

ready, willing, or able to

buy a place. Let's remember this before we start

the subtle name-calling on

rental property owners.

Gary Bowman Audubon Park

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