Ohio's LLC loophole contributing to housing crisis
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- Опубликовано: 30 июл 2024
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Problem properties in Franklin County, Ohio are now costing taxpayers more than $7 million to rehouse thousands in a housing market already stretched thin with limited options.
In the latest case, Prairie Township leaders have been attempting to shut down it's largest apartment complex, all while trying to figure out who owns the property. ABC6 On Your Side Problem Solver Lisa Rantala has been investigating LLCs in Ohio, and the concerns are well known at the statehouse among lawmakers.
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I bet if they quit paying rent, someone would show up
lmao hell yeah.
Probably not 😂
Yea a lawyer with an eviction notice.
shid who you kiddin?@@kurtismckemmie4850
Yep!
The people who are still there need to put their rent into escrow then the owner would have no choice to appear before a court to collect it
I didn't know that.
Rent? These are Section 8 "renters". You and I are paying their rent with money stolen from us by the government. I for one am done with people expecting me to house them and feed them and their ever increasing numbers of children when I'm struggling to make ends meet. Most of these people are completely reliant on us to support them as they have never nor will ever lift a finger to help themselves. They need to go hungry and homeless until they are motivated to exchange something of value for these things.
Exactly 💯
A lot of ppl don't know that. But yes put that rent in escrow until these landlords and programs get their 🤬together and stop being slumlords. In Ohio they had a cover up in one of the cities here because the housing manager was stealing the funds that were to be used to fixed units. He's still free and they let him retire before the investigation was complete and it was found that he stole for years. All swept under the rug. 🙏🏾 folks have enough strength to band together to hold ppl accountable.
Exactly! As soon as I heard the story, I immediately thought ESCROW! The owners would have to appear for court, but I wonder how they would even be served if they can’t be found. I feel terrible for the residents. I had heard about the trash issue last year but didn’t know how unsafe the apartments were until recently. I can’t believe that man is paying $1100 a month there. Unreal!
Second question why are these “HUD INSPECTORS not being fined and fired?” Time for investigations from we the people!!!
It's a jobs program, like other gov't agencies. Nothing more.
Because corporations use money as free speech and buy off politicians 👎
Exactly!!!
Do you not understand private. Why is the state on the hock?
@@ilovegir Because taxpayers fund entities that oversee housing to make sure that renters aren't subject to unsafe or unhealthy conditions. It's a private company that provides housing but they are putting people in danger, physical and health-wise.
It’s true! This once great country has gone from a melting pot to a chamber pot!
Democrats 😂
@@ChrisWalker-wy7fyPoliticians!!!! End the two party system and have term limits!!!! Think for yourself vote independent!!!!!
@@ChrisWalker-wy7fy Republicans are JUST as responsible for it as Dems. All the way back to the great Ronald Reagan who signed the immigrant amnesty law which made 3 MILLION illegal immigrants citizens almost over night, and then when dems tried to do the same thing decades later repubs called them every manner of name and say they are evil. There is NO party innocent in anything done in the government. They are ALL out for themselves and screw over we the people.
Once great country? You lied.
America was never a Melting Pot. America is a collection of European peoples. The West was never meant to be a 3rd world toilet.
Foreign investment firms are the greatest contributor to the housing crisis. Why should foreigners own nearly 1/2 of the country?
Yup!!! You're right!!!
We NEED to have an outright ban nationwide of foreign real estate investment firms. They've already KILLED Eastland and Westland mall, Fort Rapids, much of AEPs failing power stations, etc. Tuttle is falling apart under its Israelian ownership as you read this. This isn't a political thing, it is entirely financial and it is the biggest cause of the nations failing infrastructure and economy.
Wrong. Did you know, the VAST majority of slum properties are 100% AMERICAN CITIZEN OWNED? The properties owned by foreign entities and people are some of the best kept properties in America. Granted there are a few on the opposite side of the spectrum but not many.
Yeah that's a lie. I'm tired of landlords that don't even live in my state and barely speak english@@Plasmastorm73_n5evv
I also suspect its probably not US citizen ownership. Some foreigners have no regard for American lives and quite often use loopholes to drain Americans/US of funds. proven in this video the US Government NOW HAS TO PICK UP THE TAB. Just saw another video of nursing homes being shut down without any notice to employees. Foreigners have no problem not taking care of the people much less responsibility and IN my opinion must come from such disgusting lives that this is normal to them. So sad as we all have to give an account for the life we live in the end. NO JOKE.*******IMAGINE BEING SO HATEFUL AND DELUDED AT ATE SAME TIME***DECEIVNG AND BEING DECEIVED AT THE SAME TIME***
This is great journalism, and i hope the algorithm pushes the hell out of this. This is the sort of investigative journalism every American needs more exposure to!
I’m replying to your comment in the hopes more of us will see this as well. Shouldn’t have taken me 2 weeks to see this while I’m getting shit videos about Florida and Texas news.
This is the direct result of deregulation and no oversight in accountability being placed on companies
Why is this costing the tax payers anything?
More than likely, it’s all section 8 welfare people
When a property reaches this point the city seizes/takes it over in a receivership and now foot the bill for everything which is funded by tax payers
They're using LImited Liability Corporations because they can collect the profits but have no or very limited liability for the company debts. They can collect rent, do no repairs, and not be held personally liable. When the company fails, start a new LLC and do it again.
They? You could do it too, in your own way, save the world. Exactly…you can’t do you won’t. Instead, you criticize what you can’t optimize.
Track down the actual owners and I bet you find addresses outside the United States.
@@user-xk4vt9ye8j Blackrock, State street, Vanguard are three good guesses.
@@CamaraTheCapitalist.
Why do they allow llc s to be housing companies ? That should be reserved for craft sellers and stuff like that. How can a person start a company and say, you can't sue me because I said so. Zoning laws should prohibit LLC s from owning anything as important as housing
Unethical, immoral, but 100% legal. They let the city/county/ town say the property is uninhabitable then they tear down buildings and put up more expensive ones.Gentrification
Everywhere I look especially in the poor neighborhoods they have these new companies where they are building high end apartments starting at $2,000.00 and up to 4 or even 5 thousand a month and squeezing the poor out , it’s going on everywhere… what the hell is going on ?
That just happened to me. Sps management is doing that to people in cincinnati, buying up section 8 property, adding a cheap ceiling fan and new paint job, and start calling it high end apts, rent was 750 now it's 2000 and they won't accept section 8, and they ran out 900 residents here. Now they keep expanding doing it to other people, and lots had nowhere to go, sleeping in cars or shelters. Then the new owners do a podcast laughing and bragging about getting rid of low income people. Lucky I found a house for the same price as my old apt I had for 42 years. I hate it, but atleast I'm not on the streets. Don't rent anything from sps management, they will probably make their way to Columbus and do the same thing.
I noticed that happening here in Charlotte too poor being pushed out while building all these new parts for over 2,000 everybody should go rent strike including me and save your money
I live in one of these $2k apartments and while I love it, its gut wrenching to be paying more than most mortgages. My apartment company is building in a VILLAGE where they dont even have a grocery store. Theyre delulu if they think they can charge 2k+ in a food desert area! The closest grocery store is 10 minutes away!
These guys make regular slumlords look good. There must be some kind of crimes involved with these conditions like defrauding tenants demanding rents for negligence for having dangerous conditions.
Especially considering they accept Section 8, and that has strings attached - they should have to pay back any monies collected while they were failing to correct unsafe living conditions.
There is but there isn't. LLC is Limited Liability Corporation, aka a shell company doing business for a major corporation. Because it's a shell there is no one to really hold accountable.
The US Treasury dept has started a new FINCEN law with heavy fines and even jail time for not filing new forms listing the owners,shareholders, officers, key employees of business entities like this LLC. Ohio needs to do it.
This will never be enforced based upon the facts they don’t enforce the laws they have now. No one care about those of use who do the have large bank accounts all the cities ever want is our tax money no one cares we will die living like this.
It’s the Chinese government
Another sheep. That law changed the fundamental way we can do business now. It ONLY applies to SMALL BUSINESSES NOT MAJOR CORPORATIONS! What they did was make it harder for small businesses to actually succeed which is the plan all along!
@@sardonumspa8113how is having to identify shareholders and owners on formation sheets hurting small businesses ???
The FINCEN law mostly impacts small businesses that are just trying to survive. But I agree that there needs to be a similar law at the state level that prevents the kind of behavior this LLC is engaging in.
"You're still bound to a lease..." MY ASS! No rent should be paid if a place is uninhabitable!
Right, there's no certificate of occupancy at this point
When they pay their rent who do they send it to????????
Immigrants
@@ChrisWalker-wy7fy Not immigrants, the owners dont live in the US.
@@thebabscat that's in Chicago Illinois too
@@ChrisWalker-wy7fy All the cities.
They are lying they're not paying rent. I bet the owners walked away
KUDOS to this fabulous reporter for highlighting the struggles our working class and working poor experience just trying to keep a roof over themselves.
The immigration problem is serious but these llc corporations need to be regulated ,where a few people can skip out with all the money and leave the llc with the debt corporations are not people ,money is not free speech and shouldn’t be treated like they are 👍
Immigrants come first
Unreal, the democrats tell the tenants not to pay rent and some of them have not paid rent in three years. When they landlord can no longer afford to pay the mortgage then you want to regulate the landlord(llc) you need to just stop voting. You are causing this problem. You have destroyed the country. I hope your happy now.
Not realizing that this is the (D) government's 2024 ballot harvesting operation.
- (D) government opens borders
- illegal aliens enter country en masse
- (D) government pays slumlords who are willing to "play ball" to house "migrants".
- (D) government provides goods and services to illegal aliens to win their political favor.
- Slumlord "plays ball" by providing political donations to (D) government while continuing to be a slumlord
- Taxpayers demand that the (D) government regulate slumlords [You are Here]
- (D) government is able to "regulate" anyone not willing to play ball.
- (D) government uses previously changed voting laws to send mail-in ballots to every household
- (D) candidate has significant favor with migrant occupants
- Slumlord collects mail-in ballots
- (D) candidate receives the necessary ballots required to win battleground state.
[If only counting in-person ballots, Joseph Biden lost every single state in the 2020 election with roughly 34,000,000 total votes]
There are existing laws in place in regards to financial transactions.. meaning theres “ no such thing” as not being able to trace where the money has went. Laws for drug trafficking and money laundering require the money/banks to account where its going/came from. All it takes it the government to subpoena the banks ext..
@@ChrisWalker-wy7fy corporations and shareholders come first there is no inflation it’s greedflation 🤨
It’s not an inventory problem. They cleary just found places to house these people. Homelessness is up because there are a lack of affordable places to live. That’s not an inventory problem.
They didn’t just “find” places to house these people, if that was the case they all would have moved on their own already. If it takes months to find housing for a few 100 families, you have a housing shortage
Foreign landlords do this also. They don’t care to follow the law. They think the tenants should pay for their own repairs. It’s been like this non California for years. They keep the outside up but do nothing inside.
Yes.. look at what is happening in London or Canada.. foreign landlords are slum lords... They don't care about anything but the $$$$...😢
They are so used to their own country's horrible laws they push it here. They get it condemned to get people out then fix it up to rent to their own kind and be able to get away with even more against people unfamiliar with their rights here.
True especially of Chinese investors. That culture doesn't believe in community upkeep and improvement. This is one of the first thing I learned when visiting there.
Foreigners formenting unrest
90 tenants in a building of 350 units speaks volumes
Does the acronym LLC stand for (Laundering Location for Cash?) This rental rip-off happens far to often with people being left in the cold and UN-NAMED, greedy landlords walking away with pockets full of cash and no accountability.
Very good report!
That is new hustle for the low life.
@@claudettedoyley9056nothing new
Now you're talking. There are a lot of real estate scams in Ohio, but only a select few are allowed to play the game. Once "outsiders" crack the code, the rules change. Thats whats happening now. And by the way, a lot of the fraud is set up by crooked attorneys. Its a game.. has been going on for years. Rules change when outsiders catch on and start to play and profit.
That's GOOD! I am calling LLCs that from now on
Not in a hurry to buy here as big financial issues are about to be recognized, IMO. Banks are in big trouble and over-leveraged (bail-ins?), debts are out of control; peeps CC's are maxed, and globalists think we should depopulate, eat bugs, and be controlled for their benefit. This should all get resolved very soon, might be very bumpy for a while, but peace and tranquility on the other side.
There's so much f*ckery in markets that they may just close for good. I'll be patient for better clarity over the next 2-3 weeks,At this point, I'm still at a crossroad regarding whether or not to liquidate my $138k stock portfolio. What's the best way to take advantage of this current market?
It's crucial to have a well-thought-out strategy and not make impulsive moves based on short-term market fluctuations. Patience and a long-term perspective are key. You should consider a market expert to guide you.
I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
Mind if I ask you to recommend this particular coach you using their service?
There are many financial coaches who excel in their profession, but for the time being, I employ Samuel Peter Descovich because I adore his methods.
You can make research and find out more.
He appears to be well-educated and well-read. I ran a Google search on his name and came across his website;
thank you for sharing.
If the city has to “dish out” millions for moral reasons… then the buildings should be seized.. and lawsuits vs whomever was involved should proceed after. Shouldnt be hard to subpoena bank records to see where the money went. Where the money went is where the at fault responsibilities are.
Did you not watch the whole video...like the part where the city took the LLCs to court AND WON? The LLCs have not paid a dime of that money. Who do you arrest when the companies are shell companies for shell companies for corporations?
@@Plasmastorm73_n5evv there are financial laws in place in regards to bank transfers, ect.. those laws are in place for things like money laundering and drug trafficking. if i used chase bank as my vessel to commit financial crimes.. and the government contacts them and they say.. idk what account number that went too. theyre in big trouble. not for violating anything to do with rental anything.. but for violating laws in place totally irrelevant to it.
Foreign owned?
'foreign" in this sense means the company is not head quartered in Ohio
I've seen city owned rental properties looking like this.
That's because foreign corporations/governments own the cities, which are also corporations. The same with state parks and "federal land." The United States of the District of Columbia is a foreign corporation; who owns that? Start following these rabbit trails to learn the real pickle we're in.
Some county owned and public housing also. Its selective prosecution. And why all of a sudden. Why in 2022 -2023 did the state s decide it needed to overhaul its llc "crisis?'
As a real estate investor it blows my mind how investors can let their investment go into such disrepair + putting their tenants lives at risk. There is no benefit to doing this. My guess is the investors paid way too much for the community and their equity is wiped and are taking heavy losses each month.
I know!! It's so screwed up!
I'm also an investor/landlord and I understand exactly. These people are Section 8 tenants so it's we the working taxpayers who pay their rent. The margins are barebone and these properties have most likely a tax write off.
Slum lords
@@novafusionzero8730 Slum lords and slum tenants.
@@novafusionzero8730 Slum Lords are single owners who own buildings. These are shell LLCs that have no real assets because the corps. that own them drain off the funds and leave them behind.
Owners are laughing all the way. I wonder what the bank thinks about it? Who holds the notes on most the propertys or at least the ones left to fail? You can tell the people that run that town are mentally deficient.
No help for American citizens who pay their rent, but not a problem housing illegals at the expense of the American taxpayrs right? MAKE IT MAKE SENSE!
That isn’t it at all. They are too busy involving themselves in other countries business ignoring their own backyard. They spend 880 billion on the military a year yet only 75 billion on education so yeah… this is what you get and it has nothing to do with immigrants. lol… the US is a joke…
It doesn't make sense.
If politicians focused on American citizens, issues like this could be handled much more efficiently.
Might want to vote non dems
@@doannad.1518 You are obviously brainwashed. The Republicans really don't care about the average American citizen.
@@doannad.1518 I always do my friend.
I think any residential property owned by a corporation, especially from out of state, should automatically be charged double the property tax rate as they are clearly inflating the need for services.
Sure, but the tenants actually pay the property taxes. I have to pay FULL property taxes in my rent as there are no homestead or mortgage deductions/exemptions on the property. The state (Indiana) actually benefits in this regard from so many rentals (versus people able to purchase).
@@dawnclabaugh3598 I was mostly trying to think of a legal avenue to make the entire idea of investment properties, well.. a worse investment for cash flow than something else as well as giving local services the boost they need to combat problems that are endemic to rentals. At some point the tax fees, which of course are passed on to renters will make the rent more than the market will bear. I’m not loving the extreme crackdown that NY is exploring, but also know that many of the worst landlords are incorporating in states where they can maintain ownership privacy and have tax shelter from the states they are actually operating in.
As for Indiana not giving deductions to renters. They could legislate that change at anytime if voters pushed hard enough. I know Wisconsin allows renters to take a credit, so it wouldn’t be an unheard of propisition.
Trash bin repoed? It was repoed because the they never got paid for trash removal.
Who is the Landlord of these Properties? We take care of our Apartment Properties because they support our lively hood. Defund Career Politician’s and Government Agencies. How Pathetic.
Immigrants
@@ChrisWalker-wy7fy no they are Criminal Illegal Invader’s of the United States 🇺🇸. I need a Passport to Leave or Enter the United States 🇺🇸 as a Citizen but Biden and the Hungarian Billionaire immigrant George Soros Democratic Party are letting these Criminal Illegal Invaders into the United States 🇺🇸 and then is taking care of them with my hard earned Tax Dollars all while United States 🇺🇸 Citizens suffer. Thank you for your reply.
They dont know who owns all thez apartment buildings but SURE CAN find locals who are struggling to pay basic property taxes & fine them & fail to offer resources.
Novel approach City to take; 1) Change County Law to allow them to take over the property via eminent domain from LLC if not maintained to Code, 2) Create a workforce like mini TVA project hence putting people to work, 3) Give those in work force project option to have one Of rehabbed apartments. 4) Change County or state law Requiring State Registrated LLC that own any public house or multiple housing units to have a contact person who resides in that state be listed on the LLC and verifiable annually. These changes may put a stop to their problem.
No resources for American born !
No, just immigrants 😊
"American born" no AMERICANS.
Absolutely
HOW does this go on for YEARS WITHOUT an INSPECTION 🚩🚩🚩
HOW do Local / State Officials NOT know WHO the REAL OWNERS are 🚩🚩🚩
HOW do these SLUMLORD(S) collect rent ???
WHY are the Tenants bound to the contract when CLEARLY the SLUMLORD(S) have NOT held up their end 🚩🚩🚩
1 city's don't actually inspect stuff regularly. when they do contrary to popular belief they can't just instantaneously shut the building down especially if there's someone with special needs or disability. I work in maintenance though I don't specialize in elevators there was a apartment complex I was at They should have absolutely positively shut down that raggedy butt elevator but the inspector said he could not shut it down unless it was in extreme danger of eminent failure cuz a guy on the top floor had a wheelchair.. most cities struggle with acquiring and then retaining qualified personnel. One person leaves and then The problems they were working on get forgot and it's all brand new again when the next person hears about it They go to do something then they get a better job offer, Rinse repeat..
2 these LLC companies come back A lot of times to attorneys that exist for the sole purpose of making sure no one can find out who their clients are. The l&l literally mean limited liability so even if you did catch up to them the liability that they face is limited.
3 because there is a specific procedure That differs from area to area that you have to follow in order to break the contract. let's be realistic here for just a second If you watch the video just look at the people that are talking that live there. Not trying to make fun but they don't look like the people that have money for attorneys and things like that. I'm sure anyone that had a choice of another place to stay would Have lived somewhere else. That's how they slum Lords get away with it. The people that rent these places don't have the ability to fight.
bcuz they hide under LLCs names and get random ppl to be the agent.
Mean while the ilegels inmigrants are living in luxurious apartments, free iPhones, no bills, nice shoes and clothes, free food! What's going on????? Why is this people not standing up for them selfs And PROTEST!
Much, much worse than any of that!
Why, the border deal itself includes:
-Work permits and the authorization to grant parole to all who are funneled to port of entry.
-Increase green cards by 50,000/year.
-Immediate work permits to every illegal alien released from custody!
-Restricts parole for those who enter without authorization between ports of entry.
-Taxpayer funded lawyers to certain UAC's and mentally incompetent aliens.
-Expulsion authority for a limit number of days ONLY if encounters exceed 5k/day over seven day period.
Hand aches enough to discontinue typing the rest. And btw, these illegals are over here laughing in ALL our faces.
Blackrock, Vanguard, State street.
Maybe they can put liens on the property for the relocation of residents due to property owner failure. Usually every business entity requires a registered agent which is there to be served lawsuits and other business related issues. Once that person is served that is as good as serving the owner/officer of a company.
Can they jail that person for not obeying court decisions?
that's the whole point of LLC. They can just file for Bankruptcy and simply walk away, hence the video said the Parent Company opens Multiple LLC to buy Multiple Properties. If one property goes belly up, they just walk away without affecting the parent company or other LLC.
Yes, you can confiscate the Property, and put it on Auction to Pay off the Debt. But since it has fallen into so much Dis repair, it might not worth much in the auction, who ever buys it might simply tear it down for the Land.
As for how does the Scam scheme work, I don't know, if I know, I would be filthy rich. Is possible they take a Loan from a Bank to purchase the Property, so when the property gets confiscated and auctioned off, the LLC keeps all the Rent money they collected, and the Bank take a loss. But once it gets on Wallstreet, everything just gets so convoluded, where good loans and bad loans get bundled together and resold to investors.
Ive been begging my landlord to fix the water coming out the ceiling for 2 years. Couldn't care less. Mold, mildew. Tami Properties LLC. 1561 east Adams Blvd. Los Angeles CA 90. No one will help me
Hilarious, why are you paying rent? The democrats of your state told you not to pay rent. No one pays the rent the landlord has no money to pay his mortgage and fix things then you claim the landlord is the bad guy? You probably voted for this. 😂
They want landlords to pay more in repairs than they ever collected in rent.
Move!
They're using LLC to prevent exactly what the town is trying to do...hold them accountable.
Is the State’s Attorney General involved?
I was part of a small LLC. It was done to protect the asset from lawsuits. If you sue, you have to sue the managment. To many fake slip and falls. We had 126 units and when we got it, it was full of drug dealers, people were getting shot in the parking lots and the place was being run inefficiently. It took three years, but we turned the place around and received an award for the way the place was run and the people who lived there liked it. It looks better, it smells better, everything works and we had a regimen to replace things before they broke. We sent management off to be certified. We fired the drunk workers who didn't fix anything.
Not sure what the changes are in regards to the law, but if the potential for abuse by others increases, I'm sure we won't do it again. We hired professional management to manage the onsite management and then turned the place around.
You can sue a LLC
@@HumptyMcFly Very broad statement that would require much detail for the event to occur. There are some LLCs that are individuals just trying to protect themselves and true flow through entities consisting of large joint venture LLCs.
You telling me for a couple of million you cant get someone to track down the owner?
Sometimes you got to move on.
It’s happening everywhere
Our wonderful government. 🖕
The houses here in Florida aren't being purchased by families but companies. I don't know if they are LLC
Black Rock
🤷 I live across the street from Galloway Village Apartments have lived in this neighborhood for 15 yrs. It is appalling. The Prairie Township and Franklin County Government are doing a poor job .🤷
Living conditions for millions in the US is comparable to 3rd world countries. When states do away with regulations this is the result. EVERY person deserves to live in safe housing.
The CITY will not hold LANDLORDS accountable! Just enforce the rules. $1100 a month for this garbage is criminal.
When the county code enforcement has listed maintenance and repair issues the county should be able to go to court and order the rents paid to the courts until things get fixed. Take the money into receivership and away from the llc slumlord property management and make them go to court in person to get access to it.
The government pays the slumlord.
Foreclosure on the properties. They'll send attorneys to fight it in court.
Sure, foreclose and condemn the property forcing the people out. That'll teach them.
@@bubbajones4522 The city doesn't have to evict the tenants Foreclose to assume ownership.🤷
@@sunii4264 I think you're missing my point in that we the tax payers don't need more people feeding on our tax dollars as we're already stretched to our limits. Let the free market play out.
@@bubbajones4522 I got that. I believe in a free market economy however, when the players step outside of the local law (for these LLC's refusing to provide adequate trash pickup creating health hazards, blocking the egress, ect.,) Then the city is able to take action, as these ghost companies are at the very least lowering property values. They are also creating a unhoused people problem.
So I am suggesting that the action of foreclosure is one this city should pursue.
Free markets work optimally when companies assume responsibly for their impact on the communities that feed their bottom line. Clearly, fines and penalties haven't worked, as the city has already imposed those.
Why should businesses that are good stewards in that city suffer to pay increases in taxes, insurance etc. for the money grab of another?
LLC's exist to decrease the litigious barriers to business and that also creates a loophole for bad actors. I believe the judge can have the owners appear in answer in person and if they don't again, foreclosure the properties.
There are places home owners get fined thousands of dollars and threats of losing the home for grass that is too high.
Ahh HOAs
The LLC's are the companies that will bid on the contracts to build those houses too.
Where’s former Ohio congresswoman Marcia Fudge now Secretary of HUD?! Haven’t heard a peep from her since she was sworn in🤦🏾♀️
They say the camera adds ten pounds but hot damn!
If all the tenants stopped paying rent, I'm sure someone would show up demanding money.
These people are Section 8 tenants so it's we the working taxpayers who pay their rent.
Great report great information.
There's a federal law that went onto affect o. JAN 1, 2024. The law requires businesses to disclose who the owners of an LLC and any other business.
No inspections from the city? You can't fine the owner? Or take the properties? It should be illegal for these people to charge rent for a place like this!! I bet they would show up if the tenant needed to be evicted!!
Why aren’t the tenants withholding rent for the condition the apartments are in? The city needs to start adding on the $1k’s of fines each day.
These people are Section 8 tenants so it's we the working taxpayers who pay their rent.
If you had listened to video the tenant said she paid 200 more in rent after 2 years! Housing section 8 requires inspections yearly plus when you first move in and this place would fail and client finds another property there is no clients on section 8 there!! Most there probably make just enough to be over the income limit to get section 8!
These ppl in govt know who owns the property. 100% they do
Even sheriffs court are stealing our homes
3:04
colonia village and galloway apts look on the out side well maintained its sad the inside was falling apart- in another city these would be condos or coops and be profitable-
the government needs to stop giving away properties to companies who do not take responsabilities- to many captains no workers
🤔🤨
Bet the internet can find them
I was born and raised in Columbus Ohio, I lived in Lincoln Village off of Broadway & I loved living there when I was a kid.
I got my Masters Degree in Business Management at the age of 13. I had a newspaper route!!! I paid 35 cents a week per customer and I collected 50 cents a week per customer. 15 cents a week per customer profit for 50 customer's was $7.50 a week. In 1966 that's not to bad for a 13 year old.
I've carried those money values with me for a lifetime. If the customer's didn't pay on Saturday then they didn't get Sundays Paper. You always bargain from a position of strength. The renters need to explain to the landlords that the Landlords need the Tenants more than the Tenants need the Landlords. If the apartment isn't acceptable in January then there is no Rent in February. Never let yourself fall into the position of bargaining from a point of weakness. Life and survival is the hardest job you will ever have.
Signed DINKS (Dual Income No Kids). A standard work week is 60-80 hours each.
You had a good deal. I did the same thing in the 60s but if I didn’t deliver the paper because of non payment they’d replace me with someone who would. Kids were taken advantage of back then.
@@user-xk4vt9ye8j My newspaper route started in 1966. We lived in a Section 8 project in the Hood. My Mother was a Paranoid Schizophrenic and my Father was an Often Absent Alcoholic. As kids we were pretty much on our own. You want lunch money for school? Get a job. It was a rough neighborhood and they had trouble finding paper carrier's. I actually got a $2 a week bonus to make up for the non pays. I told the district manager that when people called on Sunday to complain about no paper to just give them my phone number. I'd collect from them Sunday morning and then give them Sundays paper. No Pay, No Paper. If the District manager didn't like my terms, then He could continue to deliver the newspapers himself. It took about 2 weeks and everything was fine. No money on Saturday then no Paper on Sunday. I was a Mouthy B*****d back then but it worked. Hell, even the neighborhood Boys were afraid of me. Sometimes you gotta do what you gotta do.
Calhoun County Michigan … In Albion Mi some of the properties never been updated since they been opened…
If those residents stopped paying their rent, they'd be able to accumulate a significant amount to move elsewhere.
These people are Section 8 tenants so it's we the working taxpayers who pay their rent.
At some point the council should just be able to declare "it's free real estate" and confiscate the property. Fines not paid, property is in a derilect condition, dozens of code violations, residents neglected. If the owners don't want to admit they own it, fine... now you don't.
Sounds like what happened to properties after the Great Recession. I knew of a property adjoining a former friend's property. The home had 4 llc owners in just over 4 years, but the agent remained the same. The house was a tax write off. It was later demolished after violations and damage done by scrappers. I suspect similiar for llcs for apartment complexes i.e. tax write offs?
As for new units, developers shy away from anything rent controlled, subsidizedUnless they are given federal/state funds to build such. Developers build for financial gains and not egalitarian ones. So, counties/munioalities are stuck constructing such complexes.
What do you mean by "stuck"? Public servants actually serving the public are "stuck"? That's hilarious. Poor city council. Poor county agencies. Stuck being useful for once.
7:57 lol *she is JUST about to answer the question...BUT NOOOO! roll in the pictures over her face.*
Looks like government apartments or black Rock could owns these apartments sence they are the big corporations that owns these business apartments
Move immigrants in
I would be very surprised if the owners actually live in the country.
If landlords have to be a thing, we need to have laws barring them from residing outside the country. Stuff like this is sucking our economy dry.
Oh my!! How awful!! Bless the people living there!!
It’s subsidized housing and these people have kids for paychecks. I don’t feel bad for them only the life they selfishly bring into this world.
Greed, greed and more greed! When is enough enough? This is a disgrace. Expect Deswine to do anything? Don't hold your breath.
Those properties are owned by Amherst. You can find their website by the same name. They are institutional investors. Most of their LLCs start with AMH. I hope this helps the journalist dig a little deeper and locate the owners.
I’m sure the tenants at these places had nothing to do with the condition of the property!
WELCOME TO THE UNITED STATES OF CORPORATIONS 🇺🇸 🇺🇸 🇺🇸💲💲💲
I hear that there's plenty of housing in Brazil. That is if you don't mind living in a shanty or mud hut.
Nice job Mrs. Rantala
Really? And here I thought it was because Zillow artificially raised prices by posting false appraisals of property. Imagine appraising property online without ever even looking at it. A practice that should be made illegal and anyone who lost their place to live due to that fake increase should be able to sue them.
Hard true facts. Houses on Zillow have filters🤦 to boost prices. Just something weird I've seen.
This 3 term mayor of Columbus seriously needs to step up and prioritize this issue of building more affordable housing developments and why more people becoming homeless in one of the largest cities in America
There would be plenty of housing if they didn't allow llc type companies to own and rent to people
It’s not just the mayor.
The mayors have other concerns, and none of them are the well-being of the citizens.
Gone are the days of affordable housing. New developers arent building 2bd 1 bath 150k starter homes anymore, because it isnt as profitable as building a 300k 4bd 3 bath and selling it for 600k. Even renting, with property taxes shooting up I wouldn't be able to rent out my house for an "affordable" amount today. I pay what is deemed "affordable" just in property taxes in Cbus!
Investors get over their head playing the multi-family game. A new roof on a large apartment building can run over 50 g's and a new HVAC unit will cause chest pains. A lot of these hard luck apartment have multiple owners and multiple problems. Many end up being abandoned and torn down eventually. Most of the owners are out of state shielded by LLC's and trusts.
thats a shame someone i know stayed in galloway village and mold kept growing in the wall the entire time she stayed there with two small children she had to move due to the smell and in the summer time it was so hot in there u had to cook at night those wall air conditioning systems are dangerous and the drug clinic always had ppl coming to try to get into the buildings if they couldn’t open the doors they would break the doors this was all back in 2019-2020 they also come off as scammers to me that lease is a mess
Just stop paying rent and drag the company through real estate court. While you save up to move out.
I honestly would have taken small plastic bags and taken my personal waste to a friend's house or gas station with all. stuff with my name removed..I'd never throw my garbage in that pile for fear of identity theft
Why doesn't the city do a compulsory purchase and then operate the units as public housing?
Cbus took over an apartment complex I lived in and they did absolutely nothing. For the two years it was under city receivership we had drug dealers, prostitutes, squatters, murders, you name it lol. It was awful. It was during the covid period so nobody was paying rent, and you could barely find any place that would even let you apply since they couldnt evict their own squatters using apartments they werent paying for. So I was stuck. The city let the place run further into the dumps than it had been before they took over. Then they sold it to a company "sight unseen" and are now running the new owners who bought the place through the court systems fining them every day they dont get all the stuff fixed and cleaned up. When that lawsuit settles the city will just take the place back under receivership and repeat making more on a new sight unseen sale. I'm waiting to hear on the news of that place being closed and all the tenants of that place being moved like this place was any day.
This is good.
The city should fine violations until they can take over and sell said property to developers.
THis is under the ugliest Governors dictatorship. THat boy is from The Xenia Ohio Area,where between him and Art Thomas, way over 2 million wa$ Stolen from Central State University when he was dirtying up Xenia Ohio as Mayor. The $tudent body of free college won't even study the Game Play book in Football or B-Ball. The Rapes and beating of underaged orphans of our Militaries... circa 1960s and 70s.( Vietnam Era) at Soldiers and Sailors Home was continued as a coverup to this day. over 50 years later
No money for HOUSING but have money to STAND FOR FOREIGN WARS 😅😅😅 RIDICULOUS
This is disheartening for these residents....
Why don't all the residents just put their rent in escrow and start a class action lawsuit?
Many reasons. They dont know their rights, dont have the money/time to get a lawsuit going, risk of retaliation, and the risk of the landlord not renewing your lease.
Needs to be illegal to be a landlord! Each human needs a birthright house-sized allotment, each has full autonomy to repair and improve their own situation. No one should be allowed to "own" a property that is not where they sleep.
A company called Millennia Housing Managment Based out of Cleveland Ohio has 280 or more of these in operation and most/ if not all of them are currently having many problems . Only HUD who is supposed to be overseeing these can step in and lock the crooks up currently doing business under the LLC ...Limited Liability Corporation banner.
What about those banks and lien holders,lawyer and crooks steal home.
Taxpayers should make it illegal to own property you can’t manage
Only elected officials can write a bill to make something illegal. Even then not all bills become law.
There is no one who can change anything. People vote. And rich people dont care.
I don't know about Ohio but not uncommon for a tenant to be allowed to stop paying rent if the rental unit falls into disrepair or non working appliances part of the rental. If landlord doesn't fix deficiencies within 7 days of your rent withholding letter ( must send letter) you may withhold the rent until fixed. It is important to save the rent and don't bow it. Same rules apply if you want to terminate a lease because of health and safety issues and disrepair.
You can put your rent into escrow until the landlords fix things but you still have to pay the money into escrow which is held until the landlords fix the issues then is released to them
@@tibedog5629 What happens if you move out before the fixes are made? Is that money just trapped in limbo forever?
Interresting.
no utilities, unrepaired stuff, but still, the folks are bound to lease?
These tenants are being SCAMMED!!! I would have packed up and left without paying my rent. No way would I live in a dump like that!
Why didn’t the news try to figure out themselves through research who owns the LLC?