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Rental prices in New York City are steep, to put things lightly, and subletting is practically a way of life. Few people can afford to live in an NYC apartment comfortably on just one salary and unmarried professionals often partner up through the art of subletting.
When it comes to being a landlord, there are many things that can put you off. You hear stories about nightmare tenants who stop paying rent, and ruin properties. You also know that you could land yourself in financial difficulty because of this.
When you rent a property, you assume several basic things: that your property will be safe to live in; that your landlord will take care of basic repairs in a timely manner; that, if you take good care of the property, you will be able to get your security deposit back when you move out. Unfortunately, things don't always go according to plan. What happens when you find out you need to sue your landlord?
When you’re renting a new apartment one of the first things that you should do after you put down your security deposit and sign your lease is start getting the utilities set up. Don’t wait until the last minute to get your utilities arranged because sometimes there are long waits to get appointments. In this guide, we'll provide you with a step-by-step action plan.
Finding the perfect tenant can be a challenge for property managers and landlords and indeed, not all tenants are ideal, which can put discerning landlords at a risk of violation of the federal Fair Housing Act.
Are you tired of living alone? Or maybe you’re tired of being solely responsible for the rent and utilities. If so, you’re not alone. Many Americans not only feel the psychological effects of living alone but are also facing a growing financial responsibility that falls squarely on their shoulders. It’s a hard road when your hell bent on living alone, especially in more expensive American cities like Miami, FL, Los Angeles, CA, or New York.
Every do-it-yourself landlord should have a toolbox of landlord forms available to them for communication with their renters. On the flip side, renters should also have forms available to communicate complaints, maintenance requests, and notices to vacate.
Every state's eviction laws differ, and some municipalities within states may have local laws that add to or differ from the state law. As a basic rule, always make sure you, the landlord, have a legal reason to evict. The timeline and process may depend on the reason for evicting. VerticalRent has compiled this basic process for every state based on our research in alphabetical order, so just scroll down to your state for a summary of eviction procedures.
Life throws curveballs, both good and bad, and sometimes we need to move on relatively short notice when we're just not willing to sell our home. Have you been transferred to a different city? Are you temporarily moving to help a relative? Maybe you've decided to spend more time at your vacation home. Whatever the reason, there's no point letting your house sit vacant when you can turn it into a source of income.
Much of all capital gains tax (CGT) that may be potentially due is never collected. Savvy rental property owners plan ahead, know the law, and they know to avoid paying capital gains tax on rental property. If they cannot avoid paying all of it, they avoid paying some of it, or they defer paying capital gains tax that may be due. In this article, we discuss what you can and should legally do to avoid paying CGT on your rental property.
Being a landlord is certainly a great way to make more money in the real estate business, because as a landowner who can also generate income through rental and lease agreements, you can often increase your earning power significantly.
The city of Miami has so much to offer that it's a little challenging to make a list of the particular characteristics of this beautiful, active, fun fest of a city. But that's what we are doing to help you can get a feel for the city's neighborhoods, nightlife, and much more. The water is sparkling, the weather is excellent, and there's pretty much something for everyone in gorgeous, sun-drenched southern Florida.
Many renters in New York and San Francisco share the same plight: to get the benefit of big city living, they're stuck in tiny apartments that don't always feel comfortable. Moving may not be an easy option, especially when larger spaces blow through the budget possibilities much too quickly.
We all have to make decisions about where we want to live, but after a few years as a renter, perhaps with roommates or as a dormitory resident in college, it can be a challenge to know whether or not buying a home is the right next step. Most of us have a few factors that make us lean toward renting as well as a few factors that point us toward buying a home.
After pet restrictions, guest clauses are one of the least popular terms in a rental home lease. After all, your renting the house and it's your home. You should be able to have anyone over that you want for as long as you want. Right?
Due to the unique nature of New York City, rental laws in New York have always been more complicated than anywhere else in the country. This makes sense in a place with 65% renting population including 5.4 million people. While most states have a few landlord-tenant laws that protect the rights of both parties, New York has a complex patchwork of legacy policies, protections, and rental statuses that only exist within the state and NYC itself.
Potential homeowners in the San Francisco Bay Area have many things to look forward to, including a vibrant art scene, proximity to well-paying jobs, and beautiful scenery. However, it is an expensive area to buy. In fact, research shows that half of the most expensive housing markets are in the Bay Area.
It would be great if renting a home was as easy as finding a place and signing a lease. But any experienced renter knows that the real challenge starts long before a lease is signed. Every home you consider living in requires an application and a background check before a landlord or property manager will even consider a new tenant.
Right before a move is when most people realize they have a bunch of stuff that is just not worth packing up for the new house. Why haul all those outdated clothes and outgrown toys across the country when you don't have a use for them in the new house? But you can bet that someone else in the area could put your stuff to use instead. Hosting a moving sale is one of the best ways to cut down on the stuff you're moving and recoup a little moving cost at the same time.
Los Angeles is massive. It’s five hundred square miles of the straight city. There are mountains in the middle of that, the city planners of L.A. didn’t care; they built right over those mountains. There are all manners of living options in this strange land. Some of them are more expensive, some are less. In this writing, we’ll briefly explore some of the pros and cons of living in L.A.
Oftentimes, rental units come along with strict pet policies. Many rental homes and apartments don't allow pets at all; others may place strict limitations on animal type, size, or breed. If you rely on an emotional support animal to ease the negative effects of a mental or physical disability, these laws and regulations can prove worrisome.
With most rental homes or apartments, you barely ever hear from your landlord. You shake hands at move-in and move-out but otherwise, your only interaction is sending the rent once a month or requesting the occasional repair. After you move out, the security deposit comes back to you. Perhaps with a few reasonable deductions for pet damage or scrapes that couldn't be avoided.
One of the hottest tech trends in the rental home business is in-home wifi. Internet access is now a vital part of everyday life, and not just to do work and keep up with friends. We now stream movies, download music, get updates, and run our smart homes off wifi internet as well. So it's no wonder why modern high-tech tenants are clamoring for rental homes that come with complimentary wifi internet inside the home.
If you have a property to sell, you could set a significantly higher asking price if you take the time—and invest the cash—in a few crucial updates before popping the house on the market. While it may be a little annoying to invest more resources in a house or flat you want to get off your hands, these simple renovations could make all the difference without costing the world.
Over time, landlords often decide to diversify or specialize their property collections. There are homes that are perfect for busy professionals, growing families, groups of college roommates, and many more potential demographics. You may enjoy investing in cozy urban townhouses or sprawling rural ranch houses. But one thing that's useful to have in any rental collection is handicap accessibility.
When you have decided that buying a rental property is the best investment choice for you, much of your focus will turn to trying to find the right one. There is no doubt that life as a landlord can be highly lucrative and offer great benefits to your future financial prospects, but to reach the point where you can reap those rewards, you’re going to need a property that you can be confident in taking to market.
If you’re someone who’s in the business of buying and selling, or renting out houses and homes, there comes a point when you think to yourself, ‘Is this place ready to go on the market?’ Of course, as a first time seller or landlord, that’s going to be the biggest question on your mind!
There are numerous reasons for considering getting a roommate when you are renting an apartment. Most of these reasons are fairly obvious, but you may have overlooked the intangibles, such as: friendship, safety, learning how to cook, cultivating patience, and financial literacy.
Decorating a rental house is sometimes way harder than you think it should be. You can visualize one lovely accent wall, maybe something in color for the kid's rooms, nice curtains instead of those old blinds, and a few mounted paintings to make the place look both lively and welcoming. But your landlord is having none of it.
Tenants in New York City number 3,469,240, according to a New York City Housing and Vacancy Survey taken in 2018. This number increased by 69,000 from a similar survey taken in 2014. Rental apartments in NYC make up 63 percent of the city's total housing. Many of these rental properties are rent-regulated.
Managing rental properties is an important responsibility. As the owner of rental residences, you are providing affordable and flexible housing for families that do not yet own a house or aren't ready to put down roots yet. From Los Angeles to New York City, landlords serve a vital role in the community and their responsibilities are vast.