Banks and other lenders are in the money business. They hold paper (title) on assets as collateral. As a rule, they donâ€™t like to own collateral, they just want it as a hedge against the risk of the borrower not paying. When they have to own it, it creates an expense for them.
They want to get rid of the asset as quickly as possible because the money they have in it (and the expense associated with servicing the asset) is not working for them. If the money is not working, they lose money. Being a landlord has its own risks and is totally different than the money business.
It would be a very unusual situation for a bank to serve as a landlord. They may do it as part of their property management function that they use during the pre sale period. It would be short term.
Real estate brokerage firms in our area do not work together in the rental market like they do in the property sales area. There is no one place to go to find a list of property for rent or find someone who is willing to spend time looking for a rental property for you. The rental applications are different, the leases are different, the processes are different.
Web sites like Trulia try to provide information, but the fact is their information is only as good as what is provided to them. Read that to mean incomplete at best.
Since I am a real estate professional in the business of helping clients buy and sell real estate I understand how important finding a home is to a family. This can be particularly frustrating for families who need to rent. Occasionally I am asked about local rentals. If I personally have a property for rent, and the renter is qualified, I will show them my rental. Otherwise I am generally not in a position to help them. As a professional, my inability to help was unacceptable to me so I asked my team to do research and develop a resource about local rentals that I could provide to those families for their use.
I will be glad to provide that local rental information to you free of charge. Go to http://www.Zip711.com and click the Rental tab.
I interview prospective buyers and sellers on a regular basis. I would be glad to speak with you about opportunities in our area.
Carolyn Grimsley, CRS, ABR
Certified Residential Specialist, Accredited Buyerâ€™s Representative
Licensed by Louisiana Real Estate Commission
Realty Executives SB
In Bossier, 4012 Benton Rd suite 110
In Shreveport, 8575 Fern Avenue Suite 105
Each company independently owned and operated