How you can really be “passive” landlord — profiting without doing any back-breaking work, taking any late-night phone calls, or dealing with any nightmare tenants.
While victims of the 2011 earthquake and tsunami continue to struggle with housing issues almost two years into their ordeal, a group of refugees from an earlier natural disaster has been given notice that they will soon be on their own. Ever since the 18th anniversary on Jan. 17 of the Great Hanshin Earthquake, various media have reported on the notifications distributed by local governments to residents of 6,600 rental units saying that they have two years to vacate their apartments. These people were living in public housing for low-income residents when the earthquake struck in 1995, and most of their dwellings were destroyed, so the governments of Hyogo Prefecture and six cities made contracts with private landlords. The residents paid as much rent as they could in accordance with their incomes and the local governments made up the rest. The deal was limited to 20 years, which means that…
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