I recently reached out to an investor client to see how everything was going with a rental property I helped her acquire a few years ago. I had seen a Facebook post from her asking for a few items of necessity (i.e. bedding) for a family who had just moved into her rental property.
This particular client is quite involved with philanthropic work, so it came as little surprise to learn that she had rented her property to a homeless family through a local emergency shelter.
In reaching out to her, she told me a little about her experience working with Mary's Place and this family. She signed a one year lease with the family, and as of four months in, all rental payments had been on time.
Mary's Place's mission reads "Empowering homeless women, children, and families to reclaim their lives by providing shelter, nourishment, resources, healing and hope in a safe community."
She also mentioned that Mary's Place has a 'mitigation fund' and staff support, and that Mary's Place will work to remedy any damages in excess of the security deposit. Mary's Place will also send staff to the property to speak with the tenants if there are any issues or concerns.
There has been plenty of talk about homelessness in the news lately (as I write this, the Seattle City Council just voted to move forward with the controversial $500/per employee 'head tax') with plenty of discussion and arguing about the topic...
... but I thought it was nice to share a positive story about a Seattle client doing something positive with a real estate property they own.
Are you interested in how you can help with homelessness with your rental property? Just contact me and I'd be happy to pair you with this client to speak with her about her experience.