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Updated about 5 years ago,

User Stats

268
Posts
55
Votes
Brenda Whittaker
  • Investor
  • Cottonwood, AZ
55
Votes |
268
Posts

Displacing Good Tenants if I Sell

Brenda Whittaker
  • Investor
  • Cottonwood, AZ
Posted

Since out of state investors have infected my area and forced up property tax I can no longer afford to keep my rental.  The tenants are very decent hard working great people who love the house but cannot, like most hard working middle class, afford to buy their own home due to unreasonable increasing values.  They have been there nearly 10 years.  The rent is below market value but I cant just raise it hundred of dollars on them, I do not want to create hardship for my tenants.  Does anyone have any ideas on how to create a WIN WIN for both myself and the tenants?  Something contractual?  Financial advice?  I am being forced to sell because out of state investors discovered the area and destroyed the affordability, leaving myself and the tenants in very bad positions.  A financial advisor specializing in real estate would help, if anyone out there does that. I'm horrified to be faced with this but my taxes DOUBLED in one year!!  Having much trouble dealing with inflated markets and the frenzy around real estate that is ruining the business.  Any ideas would be very much appreciated.

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