Tuesday, December 01, 2009

Beating A Dead Horse

It shouldn't be a shock to anyone that irresponsible absentee landlords own properties on the south side.

But celebrity irresponsible absentee landlords is somewhat of a news story.

To be accurate I should correctly state that Antoine Walker is not an absentee landlord but rather a celebrity investor or principal in two real estate investment companies.

Mr. Walker has had a rather tumultuous year.

It appears that his financial troubles have continued to reach into the Chicago real estate arena.

According to the Chicago Tribune Mr. Walker is "the target of more than a dozen lawsuits alleging poor management of numerous properties, unpaid debts and damages caused by shoddy repair work. In one case last month, the city won $950,000 in court-ordered fines against Walker Ventures."

The article further states that most of the legal issues stem from the alledged day to day mismanagement of the properties.

One of the self described "managing members" of the companies is also accused of "fraudulently collecting $10,000 in federally subsidized rent payments, though those actions are not connected to Walker Ventures or AW Realty."

Unfortnately this is nothing new to those of us who live here.

What stands out to me are two glaring issues.

It saddens me to see Black people victimizing other Black people yet again. But it easiest to make money off of those who are less likely to manipulate the system in their favor.

While race may play a roll in this, it's probably more of a class thing.

Who cares or pays attention to poor Black people?

Secondly, when are CHAC & HUD going to stop serving as piggy banks for anyone who signs up for the program?

It seems that once you pass your initial and annual inspections you have little reason other than money to keep up with the maintenance.

But yet the payments still continue.

Because until CHAC and HUD tighten up their policies, especially concerning condominium developments, the cash cow will continue.

And nothing will change.

But the south side will continue to get more of the same.

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