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Schenectady profiting as landlord, investing little

$2,500 limit set for maintenance spending on foreclosed homes

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The city has collected a small windfall from the houses it seized through foreclosures last year. By offering month-to-month leases to tenants living in those houses, the city has now earned $45,719 in the first year of its venture into property ownership. But city officials have not invested much to maintain those houses, which they intend to own for only a short period of time. All of the houses are for sale. Early on, city ...


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comments

mad97dog
July 17, 2013
7:44 a.m.

[ Flag Post ]

The city rents out slums and at the same time holds the landlords of Schdy to then highest standards when they inspect. How hypocritical is that!

artbarb
July 21, 2013
12:58 p.m.

[ Flag Post ]

THis is GREAT NEWS! for property VALUES! in Schenectady!
street #; St Name; date sold ; sale price ; tax value sold < taxed
1173 McClellan 4/21/11 113,500 158,800 -29%
908 McClellan 6/29/11 6,700 97,900 -93%
1252 Keyes Ave 12/16/11 104,500 167,500 -38%
851 Central pkwy 1/11/12 80,000 136,000 -41%
851 Central pkwy 1/11/12 80,000 136,000 -41%
1101 Dean St 2/29/12 48,000 116,400 -59%
1702 Lenox Rd 4/17/12 82,000 129,800 -37%
1702 Lenox Rd 4/17/12 82,000 129,800 -37%
1801 Grand Blvd 6/22/12 98,000 165,100 -41%
1118 Earl Ave 8/8/12 95,000 124,800 -24%
873 Wright 8/14/12 150,000 184,700 -19%
1471 Lexington Ave 8/20/12 117,500 161,700 -27%
1522 Union St. 9/11/12 55,000 117,800 -53%
1603 Grand Blvd 12/4/12 117,500 161,700 -27%
1560 Grand 12/17/12 90,000 142,500 -37%
1871 Eastern Ave 1/18/13 75,000 161,200 -53%
873 Wright 3/14/13 55,000 163,200 -66%
873 Wright 3/14/13 55,000 163,200 -66%
1155 Phoenix 3/28/13 125,000 150,600 -17%
1101 Ardsley 4/11/13 150,000 185,000 -19%
522 Plymouth Ave 5/13/13 74,500 112,900 -34%
601 Bedford Rd 5/15/13 75,000 96,800 -23%
1230 Baker Ave 5/26/13 86,000 145,800 -41%
1470 Nott St FS 95,900 131,700 -27%
1149 Summer Ave FS 115,000 166,300 -31%

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