The banks are now landlords?

Maybe this is just an anomoly...or perhaps it's the start of a trend. But yesterday, a rental unit came on the market, it is a foreclosed-on property, and the owner is listed as a bank!! So are the banks now going to hold on to their foreclosed inventory in the hopes of selling later for more money?

Think about this: would YOU want a big bank as your landlord? What do you think will happen when you try to get a broken air conditioner fixed? When we call up for our short sale negotiations and get disconnected (by mistake?) 4 times in a row or have our clients paperwork lost time after time...probably won't be the most responsive of landlords.

See the redacted MLS listing below: click on it to get a better view