@Tiffani Baggett
Hi Tiffani. Personally, I have seen how Investors ruin neighborhoods by doing exactly what you are complaining about.
In NYC in the 70s, there were so many houses that were not rented, not because they couldn't get rented, but because the Investors just didn't want to deal with "Tenants."
By keeping the property dilapidated, the property taxes were kept down because the assessed value of that property was low because of the condition of the property.
For decades, neighborhoods suffered because of this "Strategy" and it is a Strategy. It's not one I would condone because it affects other people's lives that did no wrong to these Investors.
After decades had passed, many of these Investors made a killing as NYC had tremendous appreciation. They did not deserve to have their properties. Countless lives were affected, especially during the "Crack" years when a lot of these properties were shelter for addicts.
I grew up in NYC from the late 60s and know how bad it got.
I personally believe that Property Taxes need to skyrocket on individual houses if it is left unrented or unoccupied by the owner. This would speed up the process of rehab and re-renting. It would make Investors think twice about the Strategy of leaving it vacant.
But I'm not an economist and I have not fully thought it out as the other side may say that if you increase the Property Tax on vacant property that should be rented, it may wind up reverting back to the local Government. But that may not be a bad thing.
Anyway, who knows. I'm really sympathetic of your situation and I personally would never buy properties only to have it sit without a renter. Better to take the loss and sell it for the better of the neighbors. Have some compassion for people who should not be affected in that way please!
Anyway, I said my peace and I hope that your Community can do something about it.
