Tina Lam and Michael Cheng are immigrants living in California who just bought a street in San Francisco that has some of the most expensive homes and properties you can find. The immigrants thought long and hard and now they have a surprise for people. They’re going to charge residents for parking. These residents likely pay a ton in property tax and parking in many cities across America, in front of your own home, is often free. But not anymore! These residents are about to get blasted out of nowhere with the unwanted parking fee.
The Cheng’s purchased Presidio Terrace in an online auction that started at $994. It was available through auction because the local homeowner association didn’t pay the property tax for the street. The property tax was $14 per year, but the homeowners association skipped the bill for over 30 years. At the end of the auction, the couple spent over $90,000 to purchase Presidio Terrace. The original homeowners claimed the payments went to the wrong address, but the city didn’t care. And, how can you pay something to the wrong address for over 30 years? That seems fairly neglectful if you ask me.
“Ninety-nine percent of property owners in San Francisco know what they need to do, and they pay their taxes on time — and they keep their mailing address up to date,” spokeswoman Amanda Fried said.
The street is a small oval bordering 35 properties prized by San Francisco’s most elite residents. Over the years, personalities like Democratic Rep. Nancy Pelosi and Democratic Sen. Dianne Feinstein have owned homes in the closed-off paradise, which has an entrance overseen by a full-time guard.
If Democrats live there, then please ask them to pay double for their parking fees. The first half of the payment is for the normal parking rates. The second half is for their oversized brains filled with pixy dust and the left’s inability to meme. Throw a few illogical ideologies in those big swollen brains and you now need a car that can fit said head. Hence, charge them double.
Now we know that hilarious option isn’t exactly a reality, but paying for parking is and that’s what these folks are about to get stuck with.
Unhappy with learning about their new parking bills, the locals sued the Chengs on account of the buyers simply using the parking threats to incentivize people into buying the property back. The immigrant Cheng’s even approached the homeowners association to ask if they wanted to buy their street back, but it seems to have spiraled into the aforementioned lawsuit.
The city responded that there was nothing they could do to reverse the sale of the street. The sale happened so long ago that it could not be changed at this point. The couple who bought the street was smart. They waited for about two years before smacking residents with the parking threat.
After buying the street two years ago, the couple bided their time, consulting with property lawyers about the potential uses for the street. They only notified the homeowners that they’d bought the street in May when they approached the homeowners association asking if they’d be interested in purchasing the street back, the Sacramento Bee reported.
The locals were not amused. They sued Cheng, Lam, and the city to get the street back.
Good luck with that! Sounds like money wasted because it didn’t go in their favor. The buyers got to keep the street they spent over $90k on. You have to wonder if the Chengs purposely waited this long because they knew by then it would be too late to reverse the sale. Or were they simply unsure of what to do with it. My biggest shock was learning that you can buy a street in San Francisco. Did anyone know that? Or, did everyone know that except for me? I don’t usually see streets for sale on the East Coast, so this is as new to me as parking bills will be to the residents of Presidio Terrace.
The city claimed there was nothing it could do at this point to reverse the sale since it happened so long ago.
The couple plans to make a profit from the street by charging residents for parking, as it reportedly has 120 parking spaces. If the homeowners don’t want to cooperate in purchasing them, Cheng and Lam hope people outside the community might be interested.
I would be angry if two random people bought my street and started charging me to park where I’ve been parking for years. Darn right there would be a lawsuit and maybe a lot more. You have to imagine that someone might get out of hand and react inappropriately out of anger if they ever receive a parking bill for their own street.
How would you react if two people bought your street and started charging you to park there?
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