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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.
According to Florida Advocate, the Sunshine State is currently undergoing a "housing emergency" that threatens the health and safety of millions of Floridians. Along with exploding rent prices, much of the housing emergency also stems from unsafe housing or underhanded renting practices. What happens if you are a Florida renter who encounters a slumlord? Here are some possible repercussions.
In this life, we get the things we want by spending money. Whether you like it or not, money makes the world go round, so we all want to get a nice slice of it before we check out for good. We work hard for fifty-some years because we know just how much money rules our lives and how it has a bearing on absolutely everything.
Knowledge is power in virtually any situation. Don't make the mistake of going into disputing an eviction blind. You should know your lease almost as well as the back of the hand if you wind up stuck defending yourself in front of your landlord or even in court.
Most landlords are pretty cool, or so neutral you hardly ever notice them. But some landlords are the source of the internet horror stories you occasionally see floating around the online rental communities. Landlords who turn off the utilities, landlords to invade your privacy like a sitcom "wacky neighbor", landlords who refuse to perform repairs, or landlords that take your entire security deposit for spurious reasons; These are the landlords of our nightmares.
The Texas Attorney General has declared that tenants have certain rights. Among them are the right to feel safe and secure inside your rental dwelling. Unfortunately, not all landlords respect their tenants' rights, leaving them with no other course than to take action. What happens if you encounter a slumlord in the Lone Star State? You could have several courses of action, including the following.
Being evicted from an apartment can be scary and emotional for many people, as it is common to feel uncertain about where you will go next, or as though you will never be able to rent a home or apartment again. While an eviction can feel like the end of the world since it can sully your rental history and credit rating for a few years, the fact is that you may be able to take steps to get the eviction removed from your record, and even if you can't, you may be able to rent again soon!
Does it seem like rent is getting more and more expensive? This isn’t just an observation. It’s a fact. In June of 2018, the national average rent reached $1,405. That was 2.9 percent more than the previous year. That might make you think that renting is a poor choice, but it’s actually cheaper to rent than buy in the current housing market. The cost of owning a home went up 14 percent from 2017 to 2018, making it more difficult than ever for people to buy homes.
As you move through your early years as an adult and find yourself settling into comfortable routines, you may start to hear pressuring statements from others, whether they are friends or family. People who have opted to buy a house often see it as the best way to go, so they will suggest that you too could be happy making the big move and becoming a homeowner.
If you are finally ready to sell your home and move on with the next chapter of your life this year, there are a lot of things which you can do to make the process easier. Selling a house is complex and takes a long time and it can be harder than buying a house in the first place. This is why we have some handy tips to help you help your home this summer.
Living with roommates is becoming increasingly popular in the United States. In 2017, 31.9 percent of the adult population resided in shared households (Fry, 2018). This refers to households that have at least one additional adult who is not a spouse, partner, or head of the household. While parents living with adult children represent lots of these households, many of the households consist of roommates.
You didn't mean for this to happen, but it has. You moved in with a roommate who seemed like the right fit for you, a great companion and potential friend. You started to spend more and more time together, enjoying the same activities, cooking together, relaxing in your space, and all of a sudden... You realize you've developed some romantic feelings for your roommate.
It happens to the best of us. Maybe your car broke down on the way to work; perhaps your little one wound up in the ER unexpectedly a few nights ago; or maybe your dog decided to swallow your entire fitted sheet. Accidents and unexpected events happen-- and they're often costly. Sometimes, factors out of your control put you in a position where you're unable to make your rent. It can be difficult to know how to approach your landlord and ask for permission to make that payment late.
If you watch a lot of programs on TV where people are looking to purchase a new home, you will notice that many of them have large acreage on their “need to have” lists.
As a landlord, you want your property to always be in top condition. That’s why you put so much effort into choosing responsible tenants, and why you insist on a security deposit. But sometimes a property in good condition is not enough to turn the heads of prospective tenants. If you want outstanding tenants, you’ve got to show them your property is worth renting.
Modern landlords, like every rental property owner in the past, are constantly on the hunt for that excellent, long-term tenant who will pay the rent without causing any damage or fuss. The return on your investment in your property is never higher than when you can retain the same tenant year after year. So how do you find that ideal tenant and convince him or her to stick around?
If you've never had a really terrible roommate, it's easy to think that all those sit-com plots are made up and way to crazy to actually be real. Surely real people don't wave swords around in their boxer shorts. Surely real sensible people living together don't stage bathroom wars, or hide rotting food in their room, or get pets they don't take care of, right?
Searching for a new roommate can be a tedious process, but making the right selection will save you a lot of headache later on. Many of us have experienced life with people lacking in the consideration, calmness, or cleanliness department (or sometimes all three!), and know firsthand the stress that can result.
Finding a roommate online can seem like a daunting challenge for most. If you're living in an expensive metropolitan area like San Francisco, Miami, or even New York City - odds are that you're struggling to pay the rent alone. Sharing the rent, the utilities, and splitting on that Friday night pizza makes economical sense, right? But where do you start. You could always turn to friends or family and see if anyone is looking for a new pad to share with you. Or, you could turn to the Internet.
Located along Southwestern Florida's Gulf Coast, Fort Myers is one of the fastest-growing cities in the state. Along with its white sand beaches and plethora of attractions, Fort Myers also has a number of deluxe apartment communities. These communities are ideal for anyone who leads an active lifestyle, as well as those who desire more casual living. Here are just five we thought were worth mentioning.
Have you ever wondered how easy it would be to make some money from a rental property or by buying an old home to flip and sell at a profit? Well, it could be a lot easier than you might think! These days, thanks to the popularity of short-term rental sites like Airbnb, they aren’t the only two days you can make money from property either.