Aug 4, 2009 9:58 pm US/Central
Owners Of Dallas High-Rise Offering Free Rent
DALLAS (CBS 11 / TXA 21) ―
Imagine living in an expensive rental property, in a high-rise building, with a priceless view of downtown Dallas, for free. It sounds too good to be true but it's a reality for a handful of families who are taking advantage of a remarkable opportunity during hard economic times.
It's been Tom Coughlin's home for just over two months and the 10th floor, two-room, suite came with furniture and a skyline view. "I would have paid for this place as much as I've paid for any place I've lived in the last 10 years," he said.
The amount the 61-year-old real estate broker pays is – nothing! He got the deal after answering a craigslist ad posted by the owners of the former Ramada Inn Plaza Hotel, who plan to renovate the property late next year.
"We decided, that for security reasons, it would be a good idea to have some people living in it so it wouldn't be a vacant building," explained property owner Larry Hamilton. "So, we kind of made this unusual offer on craigslist that we would provide free rent."
That's right – the rent is free, for up to a year, and comes with very few conditions. Residents are only asked to report problems and keep the gate locked on the fence around the hotel, which was built more than 30 years ago.
The Ramada Plaza was best known as the hotel where pop star Tina Turner finally left her violent ex-husband, Ike, during a concert in Dallas. Hamilton claims, "He beat her up on the limousine ride in."
Hamilton plans to turn the building into lower income apartments but decided to have a handful of 'squatters' occupy the 250 rooms for another year. A number of folks have taken him up on the offer. "I'm digging it. I've always liked things that are unusual and different, and this is right up my alley," said tenant Anne Howley.
Hamilton says prospective tenants must pass background check and offer reasons for wanting to live there, but can move into any room they want and take anything out of a room if they need it. The rooms have all the furnishing of a hotel.
Sure, there's no staff working inside the building, no air conditioning in the hallways and some might find living in an old, almost empty, hotel a little creepy; but those who responded to the ad were all struggling financially and consider the agreement as a lucky break.
Anyone wanting to sign up on a waiting list for a chance to live free in the building can
contact the Hamilton Properties Corporation by email.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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