Updated almost 2 years ago on . Most recent reply
Immagrants as tenants
Me and my wife are new to real estate and just recently bought a legal 2 + BSMT unit in Chicago. We were reached out to by a migrant housing group member asking if we would house a immigrant member/family/etc. where the nonprofit would provide a 12 month stipend to cover for the "whole" lease. Anyone who has rented out to immigrants before, thoughts on considering this? Something we are currently cautious of is since this would be our first tenant, we are taking on an additional amount of risk due to credit & background would be unknown. Any insights would be greatly appreciated, especially if you have accepted the same or someone in a similar situation as a tenant.
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- Real Estate Broker
- Cody, WY
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This is an interesting - and widely ignored - issue.
Everyone complains about the lack of housing in our country. Politicians and media seem to blame vacation rentals, but my math points to illegal immigrants.
There are approximately 43 million rentals in America. Vacation rentals make up less than 3% of all rentals, but seem to take all the blame for our housing shortages. Meanwhile, we have over 15-20 million illegal immigrants housed in this country. I conservatively estimate illegal immigrants are occupying at least 3% of rentals in our country, twice as much as vacation rentals.
Supply is low, which increases demand. Demand drives prices up. Citizens complain they can't afford rent and our politicians blame vacation rentals or second homes that sit vacant most of the year.
- Nathan Gesner
