Tenants on Disability

[Nir]

Hello, I was jost infored that all tenants in a multiplex I`m considering are on diability.

Should I request more information regarding their disability or as long as they pay it is not my business why they are on disability as the process and law are the same(?) THANKS

 

[mikecunning]

QUOTE (investmart @ Dec 13 2007, 10:36 AM) Hello, I was jost infored that all tenants in a multiplex I`m considering are on diability.

Should I request more information regarding their disability or as long as they pay it is not my business why they are on disability as the process and law are the same(?) THANKS


I`m not sure they would tell you if you asked...likely a privacy issue.

I would assume rent is being paid by the government if they are on disability. How many units are you talking about?

 

[Haimr]

Some investor like disability tenant because of strong payment (rent going directly to you, pay be the government) some doesn’t .

I don’t like it because this will attract same level of tenant and will affect your exit strategy





Haim Rabinoviz

 

[Ryan]

QUOTE (investmart @ Dec 13 2007, 11:36 AM) Hello, I was jost infored that all tenants in a multiplex I`m considering are on diability.

Should I request more information regarding their disability or as long as they pay it is not my business why they are on disability as the process and law are the same(?) THANKS

One of the things I would want to know (in your shoes) if you have to make any upgrades to the building (access points, emergency response, quality of life) to accomodate the tenant that haven`t been done by the previous owner.

 

[brentdavies]

A few things to consider on the tenant profilen

- Can the tenants afford rental increases ( If they are on a fixed pension, you may other issues)

- Why are they on diability, an issue you have to ask very carefully, for Privacy reasons.

 

[navaz]

You have to treat them as a normal application or you will have the human rights on your case. Watch the normal rules regarding collecting the rent, will they need any modification in the house -who would pay for it, what happens when they move out. If it is backed up by a Government agency, sign a lease with the Govt agency as problems will start if you have to put the house back in order for the next tenant

 

[Nir]

Thank you everyone for raising such good points! Cheers.