Comments on: Rent Control – Out of Control http://www.prucalvoices.com/2008/12/rent-control-out-of-control/ Conversations in Real Estate Wed, 08 Feb 2012 15:43:51 +0000 hourly 1 http://wordpress.org/?v=3.2 By: Max Reinhardt http://www.prucalvoices.com/2008/12/rent-control-out-of-control/comment-page-1/#comment-491 Max Reinhardt Mon, 12 Jan 2009 05:06:19 +0000 http://www.pruvoices.com/?p=467#comment-491 It seems like a very sad situation, but a few facts make me a little less sympathetic to these fine people. Removing the very sad element of the wives medical condition, it appears that the loan which is re-adjusting from a teaser rate is one major thing that will put this person into financial peril. That is sad, especially since they won't be able to cover it from the 850 per month in rent. But if it is a teaser rate, wouldn't it be for a fairly short period (we will say anywhere from three months to three years). If they were unwise and misguided in getting an adjustable loan with teaser rates that is sad, yet if they rented out an entire house in San Francisco for 850 dollars within the last few years they were beyond misguided, they were foolish investors themselves. Sorry to hear about the sad situation... It seems like a very sad situation, but a few facts make me a little less sympathetic to these fine people. Removing the very sad element of the wives medical condition, it appears that the loan which is re-adjusting from a teaser rate is one major thing that will put this person into financial peril. That is sad, especially since they won’t be able to cover it from the 850 per month in rent. But if it is a teaser rate, wouldn’t it be for a fairly short period (we will say anywhere from three months to three years). If they were unwise and misguided in getting an adjustable loan with teaser rates that is sad, yet if they rented out an entire house in San Francisco for 850 dollars within the last few years they were beyond misguided, they were foolish investors themselves. Sorry to hear about the sad situation…

]]> By: Larry Franzella http://www.prucalvoices.com/2008/12/rent-control-out-of-control/comment-page-1/#comment-460 Larry Franzella Thu, 08 Jan 2009 03:01:54 +0000 http://www.pruvoices.com/?p=467#comment-460 It can be a real difficult situation in San Francisco. In today's paper Supervisor Peskin recommended a tax on rental income - thankfully if will have to be approved by 2/3 of the voters and hopefully will never happen. It can be a real difficult situation in
San Francisco. In today’s paper Supervisor Peskin recommended a tax on rental income – thankfully if will have to be approved by 2/3 of the voters and hopefully will never happen.

]]> By: Adam Chinn http://www.prucalvoices.com/2008/12/rent-control-out-of-control/comment-page-1/#comment-447 Adam Chinn Fri, 02 Jan 2009 01:21:35 +0000 http://www.pruvoices.com/?p=467#comment-447 Hi Kathy, Sorry to hear about your clients situation. I too know people who have property in San Francsico and their current rents are not close to the market value, but I have yet to hear a situation to the extent of yours. I'm guessing your client will try his best to figure something out and although some of the options do not seem too likely to work out, it may be worth a try. It can be difficult to deal with "friends" as tenants or business partners of any sort. I wish both you a your client the best. Hi Kathy,
Sorry to hear about your clients situation. I too know people who have property in San Francsico and their current rents are not close to the market value, but I have yet to hear a situation to the extent of yours. I’m guessing your client will try his best to figure something out and although some of the options do not seem too likely to work out, it may be worth a try. It can be difficult to deal with “friends” as tenants or business partners of any sort.

I wish both you a your client the best.

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