The Tenant Buyout Sticking Point- Affordability

One of the main roadblocks for most of my negotiations is that the tenants do not have the ongoing income to qualify for or continue paying rent for the new market rent apartment these tenants would need to move into if they took a Cash for Keys deal. Housing has become more and more expensive as rent control gets stronger (listen to the Tom Bilyeu Podcast- Rent Control is a Scam) and housing development gets new red tape. 

A lot of tenants that I approach have low and/or very fixed incomes. The lump sum of a buyout can be great if the tenant planned to relocate anyways, likely to a more affordable city or state, or planned to buy a home. But the valid arguments I get back from most tenants- this money won't cover the rent differential of their new apartment. Albeit, their new apartment may be in a different part of town, have more amenities, or even be newer. 

I want to help connect low income and elderly tenants with suitable housing so they can partake in a Cash for Keys opportunity and get themselves into a new apartment they can afford. It's a win-win- landlord gets the unit back, can remodel it, and put it to market, and the tenant can get a lump sum to save, go on that vacation they always wanted, or whatever they legally want to do with it, and not stress over their new rent payment. 

This is where my post takes a different turn this week. I would love to hear from any of you about any organizations, companies, or people that help connect low income or elderly tenants with low income, affordable apartments. I hear of property management companies that have waitlists or intermediaries that work with landlords with affordable units they need to fill, but yet to find those contacts. I am open to any suggestions. 

The information in this post is for general information purposes only. Nothing on this post should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.