Foreclosure Forces Tenants Out
My first reaction to the headline of “North Side foreclosure upends lives” was that of sympathy and shock. The paragraph that outlines the story line led me to believe that the tenants had been victims of an irresponsible landlord. However, after reading the entire story about how tenants we well aware of their need to find other living arrangements, my opinion is somewhat altered.
Quote from Jeff Shelman and Steve Brandt, Star Tribune staff writers, Minneapolis- St. Paul, Minnesota.:
“Black garbage bags stuffed with possessions covered the lawn of the north Minneapolis apartment building as its suddenly homeless residents milled around wondering where they would go next. Neighbors tired of the drug dealing were happy.”
“Black garbage bags stuffed with possessions covered the lawn of the north Minneapolis apartment building as its suddenly homeless residents milled around wondering where they would go next. Neighbors tired of the drug dealing were happy.”
The story seems to outline the problem faced in many neighborhoods. How many buildings fit this profile? A rental property that attracts drugs, alcohol & crime is never welcome in any community.
How does an owner loose a property such as this? The loss of a rental property means the loss of an investment. Is it possible that those who moved in failed to pay their rent & bills? Did the tenants try to maintain the building or were they destructive & neglectful. It is easy to blame the landlord for the situation but the truth is that the very tenants looking for sympathy were likely partly to blame for the situation.
We are quick to feel sorry for those displaced by foreclosure and in many cases, the sympathy is quite appropriate. There are times when a community can offer support to those that are forced to leave their homes. Perhaps the process can become a positive experience if tenants are able to find a better, more affordable and safer place to live.
Much can be learned from cases of rental property foreclosures. It is an opportunity for an area to improve itself by finding out why the landlord was unable to maintain the mortgage and why the residents were unable to keep drug activity away from the property. By answering these questions, a community can begin to work towards creating solutions where possible. Programs can be developed to serve those in need. The results can lead to residents that are better equipped to protect and care for their homes and investors that are more informed and prepared when purchasing and financing rental properties. The benefits would include less strain on police and social resources as well as more successful investment in local real estate and economic growth.
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