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Do Not Rent Here - Rentals Converted into Condos
From:
-Anonymous-
Date posted:
5/21/2007
Years at this apartment:
2004
-
2006
BEWARE! I definitely do not recommend renting here. This building has been converted from rental units into condos. This is what happened to me. While I was renting, my unit was sold to an investment company, and my lease was transferred (along with other units). Apparently, the investment company immediately re-sold or "flipped" it to a person who may or may not have existed. I kept writing checks to the investment company for my monthly rent and they cashed them. But the investment company was not making the payments to the mortgage company. Instead, the mortgage company kept sending past-due and foreclosure notices to my address in someone's name that no one knew who he was! Eventually, the unit was foreclosed and is now supposedly owned my Fannie Mae. When a property goes into foreclosure, this terminates the lease and you are forced to move out. After talking with various legal and mortgage professionals, this type of scheme appears to be more common than one would think. BEWARE! or at least be ready to move at a moments notice. Other than that, it was OK. BEWARE!
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