BY SCOTT ANDRON MiamiHerald.com
The following headline has become the best leasing point of a rental community-Landlords have always asked potential tenants about their financial situation. But in today's housing market, renters may need to ask if potential landlords are facing foreclosure.
While South Florida's falling housing prices may favor renting rather than buying right now, the recent real estate bubble is also creating new risks for tenants.
Plenty of homes and condos are available for lease because their owners can't sell them, giving renters a variety of options. The problem is that many of the owners may not be on steady financial footing.
If they end up in foreclosure, tenants can be kicked out -- despite having a lease.
''That's happening. A lot of people are losing their homes,'' said Samira Ghazal, a Miami consumer lawyer. ``They don't know if the landlord is paying the mortgage or not. Then they end up getting evicted.'' Read more
