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How is that helping? A bunch of strangers on the net saying they would never rent out to a criminal no matter what?
As this guy has an apartment in Brownsville, he is likely going to have to rent out to someone with some sort of criminal past OR who is on a government program.
Unless people on this thread are willing to rent out his apartments, stop trying to tear the guy apart for being in a difficult position and considering a tenant with a checkered past in the city's WORST neighborhood.
It is helping because there are more landlords posting to the thread. This thread to my knowledge had only 2 landlords posting, myself and Hilltop. When reading the responses to his questions I hope that the OP considers this while making his decision.
BTW I did not cherry pick those responses in order to bolster my argument. My guess is that those landlords have had more experience than you in getting burned by a tenant with a checkered past and no credit history.
As to renting out an apartment in Brownsville, I had few problems renting my property in Bed Stuy to qualified applicants while weeding out the ones who I thought would cause me grief. This was many years ago before Bed Stuy came into vogue. Look at how many people who have limited means post here that want to live in Brooklyn at any cost. I am sure that the OP can find a qualified pioneer or 2 to rent to.
And what makes you more qualified than any other stranger on the net? Tell us about your experiences renting out property, or navigating the landlord tenant courts.
Last edited by Above Average Bear; 02-16-2014 at 10:04 AM..
Reason: Add a word
A question for my own edification: Why do you suppose banks offer college
students loans and credit cards? Why do they take on that risk?
Because the United States government backs those loans 100%. The banks earn interest and take no risk. When the economy continues to tank for the next 20 years and none of the graduates of Bumfuque Tech, a for-profit internet college, can get a job, the U.S. taxpayer will bear the burden which means the government will just print more money to make believe it is paying the tab.
Sending everyone to college in an economy that can employ fewer and fewer people is just NUTS.
I'm unable to find isolated employment rates for recent college graduates in New York City or New York State, though it is hard it imagine they would depart significantly from the national average, which again, is an employment rate of 75% less than a year after graduation.
Some other things to consider which are raised in the study I linked above:
1. An ex-con who committed a violent crime will often have to pay restitution or rewards from a civil trial to the victim's family.
2. The majority of convicts are non-custodial fathers, meaning they are required to pay child support.
A question for my own edification: Why do you suppose banks offer college students loans and credit cards? Why do they take on that risk?
In regards to the specific situation at hand, the prospective tenant that OP looked at has 2 jobs and has been in jail 25 years. So while we are unsure about #1, #2 definitely does not apply. Furthermore, I'm pretty sure that that kind of judgment would appear on one's background report, but I could be wrong.
Why do banks take on the risk? They know that you need a credit history to do anything in this country, so they prey on them while they're young and have little to no knowledge of finance, and are often in need of lines of credit for textbooks and supplies, depending on the major. I had my first credit card as a sophomore in college and I was mostly using it to buy textbooks. But I knew I would need a credit history eventually, so I shrugged my shoulders and signed up.
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In regards to the specific situation at hand, the prospective tenant that OP looked at has 2 jobs and has been in jail 25 years. So while we are unsure about #1, #2 definitely does not apply. Furthermore, I'm pretty sure that that kind of judgment would appear on one's background report, but I could be wrong.
I know the prospective tenant has two jobs. I was responding to a general statement you made comparing the prospects of a hypothetical new college grad and a paroled ex-con.
Quote:
Originally Posted by SeventhFloor
Why do banks take on the risk? They know that you need a credit history to do anything in this country, so they prey on them while they're young and have little to no knowledge of finance, and are often in need of lines of credit for textbooks and supplies, depending on the major. I had my first credit card as a sophomore in college and I was mostly using it to buy textbooks. But I knew I would need a credit history eventually, so I shrugged my shoulders and signed up.
I meant as a business decision, why do you think banks extend credit to people who are going to college, but have no steady stream of income? Why do you think they make that bet? Another poster has suggested that it is because the US government backs student loans. Certainly that gives bankers peace of mind. But saying it's merely because the government backs the loans is a little simplistic. Of course, apart from the social welfare angle, the US government backs student loans for the same reason banks do.
But in truth, I am a pretty good Samaritan, but I doubt that I would rent to the man. Knowing that makes me a little sad, but it is what it is.
Does the state provide any half way houses for people caught in this trap?
They do, but halfway houses also aren't supposed to be forever. In theory people are eventually supposed to join the rest of society. So at some point they should be able to rent an apartment.
Because the United States government backs those loans 100%. The banks earn interest and take no risk. When the economy continues to tank for the next 20 years and none of the graduates of Bumfuque Tech, a for-profit internet college, can get a job, the U.S. taxpayer will bear the burden which means the government will just print more money to make believe it is paying the tab.
Sending everyone to college in an economy that can employ fewer and fewer people is just NUTS.
Wow. Just wow. I wouldn't consider renting from the OP if a ex con (Conviction Murder 2), is living on the property. 2 units? And he will be in one of them. It's bad enough if a registered sex offender is already in a neighborhood.
And you would rent the property to this person why? Guilty feelings?..about?....his need for a physical address? His problem. His choice...to go to that bar...get in a fight.....end results .....Murder 2. Murder..is still murder. Dead is dead. Worse by someone elses hands.
Wow. Just wow. I wouldn't consider renting from the OP if a ex con (Conviction Murder 2), is living on the property. 2 units? And he will be in one of them. It's bad enough if a registered sex offender is already in a neighborhood.
And you would rent the property to this person why? Guilty feelings?..about?....his need for a physical address? His problem. His choice...to go to that bar...get in a fight.....end results .....Murder 2. Murder..is still murder. Dead is dead. Worse by someone elses hands.
No, no, you have this all wrong! It is society's fault and therefore society owes this man the tools and means to get his life back on track.
Read that the OP has not been able to get "good tenants" because of the neighborhood he owns the building in? It amazes me how people can 100% give out advice without any consideration of the people in it. Should the OP go broke and not have any money to pay his mortgage? The OP is going to have to rent out to people this forum considers bad. Either he rents out to Section 8 people, or he gives people like this man a chance.
The original question was renting to this specific individual who did time for murder. I've rented to ex-cons in my building but none of them ever did time for murder. I've also had tenants that were on Sec-8. Nothing wrong with it.
There are a lot of good low-income wage people and many of them never went to prison. From my experience the property attracts the type of tenants. You can have a property in a bad area of town but if you keep it clean and manage it properly, you will find good people who would want to rent it. I've rented out a property in Trenton, NJ where there were gangs in the area but because the property was well taken care of, we found a woman who've lived in the area for most of her life and rented it to her and her 2 kids.
NyWriterdude, I don't know if you've ever owned an apartment building or managed one; but understand this is a business. If he has to carry the unit for an extra month to find a better tenant, from my experience that's a better way to go. You assume the OP is gonna go broke if does not rent to this individual. Unless you know him personally and know what's in his Bank account, then you're the one who's making unfounded statements.
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