Landlording

>>2480046
hold up. so whose the landlord?

I work at a bank, with exp in the foreclosure dept and this isn't adding up familio.

>>2480062


>I'm the lease holder
>My landlord is the landlord
>I paid $1200 for 1st months rent and $1200 for deposit
>paid approx $2000 to furnish the place (thanks Goodwill)

Now the bank is the landlord, but they haven't asked for the rent.

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>>2480046
How long did it take you to find 3 people to do this? How do they pay you?

>>2480073
so, monthly rent is supposed to be 1200/mo and you are charging your 3 roomies 460/mo, so the lease is in your name for 1200 and you are getting 1380/mo? then supposedly giving 1200 of that to your landlord?

>>2480046
don't see a problem with it, you invested, took the time to furnish, find them and you got lucky
they don't need to know and they can btfo is they don't want to pay
if it was friends of course, but why the fuck would you give shit to strangers

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>>2480073
that's bad news senpai, it means your landlord is broke, still has your rent + deposit, but you're squatters now, right? you're going to have to move and pay another deposit and all that shit?

>>2480102

Yes the monthly rent is $1200 but I charge them $460 each ($1,380). Cost of living around my area is extremely high.

>>2480103
Thank you, this is what I was thinking.

It's not like if they leave this place they'll live rent free. I'm now saving up to move to a better location (3br apt) where I'll sleep in the living room to still avoid paying rent.

>>2480108
We're tech squatters now but it's not at our own fault. The bank can't kick us out easily so they pay us to leave, the minimum the guy said they usually pay out is 3k.

>>2480098
Took a while man, I've gone through at least 6 tenants so far. Just lay down the rules before letting them move in.

>>2480127
well, here's the rub senpai. we (the bank) don't keep shit like this on our books. we're going to move this property to the "bad debt" ledger and sell the property as soon as physically possible which means you = gone. you should start getting ready to vacate. if they bank has taken ownership of the deed they can do whatever the fuck they want.

>>2480156


not in my state (liberal)
they'll usually offer a deal to leave, if you keep asking for more money (more than the cost of a lawyer) they'll then go the hard way of starting an eviction.

>>2480168
hmm. well I'll tell you this. we don't like being challenged and we don't like losing. and we rarely lose. I work at a national level so I really can't speak to state specifics, but if I were you I wouldn't test them. on some properties we lose money, but on the majority we don't. hopefully you're dealing with a small bank (very different than my employer) which might give you a bit of chance. my employer has the resources to fuck you up though, so be wary if you are going against a major bank.

>>2480046
Should have been charging them $600.

>>2480220


Original cost was $500, took it down to $460 and make them pay the $40 difference if it's paid after the 1st. This way they always pay before the 1st ^_^

>>2480238
What's your lease look like with them? What happens when the lease is broken? Are you going to owe them something?

Morality>Money?
I'm 30 and I still can't answer definitively.