This week I put three short-sale listings on the market. All three of the homes have tenants in place, some for as long as two years. None knew that the owner was in need of selling. In fact, none were aware that a sale was imminent until they received a letter from the property management company (I had thought they were being called, but it went in writing via ordinary mail) and when they saw a for sale sign in the yard.

“You can’t put a sign up,” one said. “This is my yard.”

No … it’s not. I’m sorry, but it’s not your house. It’s not your yard. If the owner authorizes a sign to be put up, a sign can be put up. It’s not your house.

Many renters are finding themselves playing hopscotch as the investors who have been their landlords run into financial difficulties. Some get some warning … in the case of a short sale, it will be a couple of months before everything settles out. Others wake up to find a Notice of Trustee’s Sale taped to their front door.

Banks are less accommodating than real estate agents when a home is foreclosed. After the auction’s over, you’re out on the street. No warning is required. You’re gone.

We’re trying to work with the tenants who still are obviously aggravated. But there’s only so much we can do. The owner needs to sell. And since it’s his house and not yours, we’re going to work to sell it.

I’m sorry … but it’s not your house.  You just live there.

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