Too Good To Be True?
First of all, I have great (so far) Section 8 renters in a suburb of Cincinnat/Dayton. The place is clean when I drop by and they rarely call us.
The tenents are a part of an Energy Assistance program called HEAP. They gave us paperwork saying they are eligible to get the house they live in an energy efficiency overhaul. This program will put $3200 into this house at no cost to the homeowner. It will include new windows, insulation, weather stripping etc. The main stipulation is that we cannot throw out the tenents and sell the house within one year because the house may be worth more because of the improvements. If we can prove they are bad tenants, then they would have to go.
So seems great, but what is the catch? Taxes? The paperwork did not say anything about taxes. The HEAP office is not being quick about returning my phone calls. Thanks Kristy
Upside: Land-use improvement increases the value of the original land? If the guy got all the zoning and whatnot done, maybe this was a good deal? Will the Lessor get back (at the end of the lease) a fully developed piece of commercial property?
Just trying to see the upside here, you understand.
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MC
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No more cookies for you, fatty. [ Edited by royalfortune on Date 03/29/2007 ]
No, the zoning was already commercial as it was in the center of town.
Chris