Social Question

ninjacolin's avatar

Any ideas for owning/managing rental property in an impoverished neighborhood in a way that's positive for the community without gentrification?

Asked by ninjacolin (13715 points ) May 27th, 2012

What are some interesting ways to contribute to an impoverished community where you own rental property?

Have you ever seen some interesting landlord-led initiatives to use rental property in a posititive way for the community and the people who live in the area without gentrifcaion?

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10 Answers

rooeytoo's avatar

Many rental properties get so run down. It seems to be human nature that if you have no vested interest in something you are less likely to take care of it, so tenants are not always as careful about appearances as one would wish. So the landlord has to be extra vigilant that the property is well maintained and the tenants you choose must care as well. If there is a lawn be sure that it is mowed and kept neat. Plant flowers if possible. Make sure common areas are clean and light bulbs replaced when they burn out. I don’t have any unique ideas, just what I as a tenant or landlord would want to see.

Charles's avatar

interesting ways to contribute to an impoverished community

How much time and money are you willing to invest?

jca's avatar

People that I know that own investment properties tell me that the tenants make a wonderful impression before you rent – polite, kind, etc., and then when they’re in and doing things like getting late on the rent, you see their true colors. When I hear these stories, it makes me never want to get involved in owning and renting properties.

Other than your property itself, see what resources are available in the community that you want to get involved in – food banks, social service agencies, community groups that may have youth programs, homeless shelters, stuff like that.

ninjacolin's avatar

Why, @Charles? What could be done with time and money?

Trillian's avatar

Community gardens have a way of taking off and starting more generalized upgrades all round.

bkcunningham's avatar

If you are in the US, are you referring to Section 8 housing areas?

jca's avatar

@bkcunningham: There is no such thing as a “Section 8 housing area.” There are no areas designated as “Section 8 housing areas.” Any landlord can accept Section 8 if he chooses to enter into that type of contract.

bkcunningham's avatar

@jca, I thought HUD’s public housing units were Section 8.

Judi's avatar

First and foremost is to know going in that you will have to spend a higher than average percentage on maintenance. It’s not that this demographic cares less, it’s just a different attitude. You need to have management that walks around the property a lot, talks to the residents and addresses little issues before the big issues get out if control.
The way to insure that you don’t have gentrification, you could accept section 8 vouchers, or if it’s an apartment complex, consider becoming a section 42 property. Section 42 (if they are still granting it) is kind if voluntary rent control, with great tax advantages. The properties are usually very well maintained and it seems like they accomplish exactly what you are setting out to do as there are maximum income levels for residents to qualify.

woodcutter's avatar

If these tenants get the impression the owners don’t care about the property then they won’t care either.

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