24 Oct 2007 06:59 am
Neighbors Target Lax Landlords
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Across the nation, that once-feverish housing market has cooled. Investors who’d bought a large percentage of the properties in many locales found they couldn’t flip them for a quick profit, and brought in tenants instead. As a result, close to half of the residents in the some subdivisions are now renters. Developments and condos that once were largely owner-occupied are filling up with renters who some neighbors say are less engaged in their communities and less concerned about maintenance. Fearful of declining property values, some homeowner associations are fighting back — targeting lax landlords and renters with “good neighbor” letters, limiting the number of units that can be rented at any one time, and, in some cases, banning investors from buying altogether. |
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