The first and obvious loss to a property owner, by a real property kidnapper (REK), is the loss of the property. This in most cases stops the collection of rent at a minimum.
Typically, an eviction can cost the property owner not only the court cost associated with an eviction, but property damage done to the property must also be considered.
A True and Tragic Story
In 2004 Erin Belanger moved to Florida to care for her grandparents’ vacant home. The property had been taken over by a group of Real Estate Kidnappers (REK’s) and used as a party house. Belanger eventually had the REK’s evicted by sheriff deputies. The REK’s later returned to the property and killed Belanger and five other people claiming Belanger had kept an X-box belonging to them. The murders became known as the 2004 Deltona Massacre.
It is cases like the Deltona Massacre that Registered Vacant Property was formed. Had the Deltona property been registered vacant. Belanger’s confrontation with and need for her to evict the REK’s would most likely not have been necessary.
Month-To-Month
The REK’s ultimate goal, aside from living rent free for a period of time, is to extort cash from the owner. The REK makes the claim they are on a of month-to-month, non-written rental term to anyone challenging their occupancy of the property. Knowing the cost of evicting them the REK simply makes an offer to the owner. The offer is far less than the cost of an eviction. The owner usually accepts. This type of settlement is known as “Cash-for Keys”. The REK takes the money and moves on to the next property owner victim.
Bogus Lease
In many cases a fake lease can end up costing the true property owner $1,000 of dollars. With a fake lease in place the REK claims legitimate possession of the property. Helpless, the only course of action is to evict the REK. As cost mount the REK resides, rent free, in the property. Some point in the future the property will be recovered by the owner. This is of course after damage to the property and $1,000 in cost to recover the property.
There seems to be no answer to end the kidnaping of a vacant property.
Registered Vacant Property is the answer.