Renting to Felons Louisville KY

Felons account for roughly 8 percent of the American working class population, but finding gainful employment and a place to live can be a struggle for these people. An investor willing to take a chance could have a large and willing group of renters at their disposal if they would be willing to rent with those with a felony conviction, but as with any invstment, this carries some risk.

Scott Richett Townsend
(502) 681-0577
400 W. Market Street, Suite 1800
Louisville, KY
Specialties
Tax, Energy, Environmental, Administrative Law, Real Estate, Landlord & Tenant
Education
University Of Houston
State Licensing
Texas

Scott Richett Townsend
(502) 681-0577
400 W. Market Street, Suite 1800
Louisville, KY
Specialties
Tax, Energy, Environmental, Administrative Law, Real Estate, Landlord & Tenant
Education
University Of Houston
State Licensing
Texas

Niemi Bruce A Atty
(502) 582-2277
1 Riverfront Plz
Louisville, KY
 
Levy Udell B
(502) 561-2005
462 S 4th St
Louisville, KY
 
Friedman Hal D
(502) 459-7555
3101 Breckenridge Ln
Louisville, KY
 
Gregory John Froehlich
(606) 248-5320
3504 W Cumberland Ave
Middlesboro, KY
Specialties
Social Security, Landlord & Tenant
Education
Thomas M. Cooley Law School
State Licensing
Texas

Melinda Ann Murphy
Ecton Murphy & Shannon, PLLC
(859) 624-2252
127 South Third Street
Richmond, KY
Specialties
Family, Landlord & Tenant, Adoption, Alimony, Mediation, Child Custody, Speeding Ticket, Child Support, Divorce, Power Of Attorney, Domestic Violence, Probate, Prenuptials, Uncontested Divorce, Wills
Education
University of Akron,Baldwin-Wallace College
State Licensing
Kentucky, Ohio

Clay Kenealy Wagner & Adams Pllc
(502) 561-2005
462 S 4th St
Louisville, KY
 
Tachau Maddox Hovious & Dickens Plc
(502) 588-2000
101 S 5th St
Louisville, KY
 
Cohen Louis Atty
(502) 458-8757
3415 Bardstown Suit Rd
Louisville, KY
 

Renting to Felons: Risk vs. Reward

For many, the stain of a felony is hard to overcome, employment is not easily achieved, and even finding a place to live can be a struggle. Finding a place for former inmates to live presents a unique opportunity for those in ownership of low-income or group housing, or even a single-family unit, who could potentially cater to a niche, needy and often maligned market of renters.

As many as 12 million Americans have a felony conviction, and some 600,000 former convicts are released from prison each year, making up roughly 8 percent of the working class population, according to the Los Angeles Times. So where do all these people go?

With few places to go, some 10 percent of those recently released from jail will become homeless, according to HousingFinance.com.

An investor willing to take a chance could have a large and willing group of renters at their disposal if they would be willing to rent with those with a felony conviction. However, doing so—like any investment—is not without its share of risk.

The Corporation for Supportive Housing recognizes that risk and is working to ensure former inmates and felons have a supportive housing environment that will keep them off the streets, according to Housing Finance. Without help, many former inmates relapse into bad behaviors, repeating the cycle many times over.

Another cause for concern is the increasing amount of mentally ill currently incarcerated and being released each year. Many of these inmates will fall in and out of homelessness upon being released, as their situation is far more delicate.

The Housing Authority of Utah County provides rent vouchers for up to 950 households, catering to those falling below the poverty line and the formerly homeless, according to DeseretNews.com, a state of Utah publication. The goal of the program is to help those in need, getting them back on their feet with a stable home and positive resources and influences.

Additionally, Utah’s Food and Care Coalition is planning to build 37 units of transitional housing, catering to those suffering from both addiction and mental-illness, according to Deseret News. Residents of transitional housing nationwide typically receive education and job training and placement, as well as substance abuse counseling.

With programs now addressing the needs of former inmates and those in need of a permanent home, interested investors could potentially have additional support upon opening their doors to thos...

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