And finally… leng lease

And finally... leng lease

A three-bedroom house in San Francisco’s affluent Russian Hill neighbourhood has been listed for an astonishingly low price of $488,000 (around £385,000).

However, the property comes with a significant caveat – it is encumbered with a 30-year lease. The 1,100-square-foot house currently has a tenant whose monthly rent of $417 (around £329) is fixed for the duration of the lease, which ends in 2053.

Steven MacDonald, a lawyer specialising in landlord tenant law, told ABC7 News: “For some reason, they gave this person a 30-year right of possession. I’ve seen that before. It’s kind of a sloppy way of estate planning.”

The listing has generated significant interest, with a long queue of prospective buyers forming outside the property last week.

Neighbour Ilia Smith said: “My husband came in and said, ‘You’ve got to look out the window. There’s a line from the house all the way to the middle of the block right here’.”

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