Is it mandatory in California for rental property owners to have homeowners insurance?
Answers: No it is not. It is usually required by the mortgage company though.
it is mandatory for the owner of th property to have insurance covering the property.
that is not to say their insurance covers your personal property because it can not.
you the renter must purchase your renters insurance to cove ur stuff from fire theft earthquake flood what ever.
They have insurance to cover the BUILDING, but not your stuff INSIDE the building. That's YOUR responsibility.
Renters' insurance is extremely inexpensive -- I pay $17 a month, bundled into my auto insurance policy, so if the building burns down, my stuff's covered.
Can my manager do this?
I know a couple who rent thisgoodsize trailer bit bigger then a trasvel trailer but not a mobile home and the county have disconnected the electric now for over a year and they still don't enjoy electric which they need also for sea because with out the pump working nearby is no water, my friend have given him money to help next to whatever the cost to bring back the electric right but nothing, very soon he goes up here and gives them an eviction concentration can he legally evict them.? isn't here a law more or less utilities in rentals, my friends own been vastly patient but in a minute they are suppose to move? and yes they do pay here rent help pleaseAnswers: Not single can he evict them, he is legally REQUIRED to evict them surrounded by CA.
He can't rent it without access to river. If the city is refusing to supply power consequently he has no choice but to evict them.
If it is an prohibited rental in any mode, then your friends cannot rely on the aid of the law.
They should report him. But consequently they would have to find another place to live.
I have a sneaking suspicion that you are asking if a landlord can legitimately evict tenants from a place that does not come together county or city zoning or health and safekeeping standards.
The answer is yes, and landlord can do that, and should not hold been charging rent for substandard housing surrounded by the first place.
Home equity loans?
have be approved for a home loan. I found a house that they are asking $249,000 for and I just made an submit of $200,000 hoping I can get a steal because of the means of access the market is down and continuing to shift down. The house is currently worth $398,000 according to the appraisal. I'm pretty sure the bank is going to consent to it go to me for my give, so that would mean the minute the doc's are signed, I merely got a house beside $198,000 in equity surrounded by it. I plan to pay stale both my cars and some credit cards using a home equity loan or line of credit, so that I single have the house expenditure to pay. How soon after I buy the house, can I be approved for one of these and what does it bring to get qualified,. i.e credit ranking, equity, etc.1 second ago - 3 days left to answer.
Report It
Answers: You can refinance. But you own already set the value of the home at 200k. When it get reappraised, and they have to do that, the flog at 200k will seriously effects its value. You may know how to borrow some against it, but not what you are dreaming of.
You will also need to qualify. If you are thinking you will achieve 198 you have to qualify for 398 to grasp the home equity loan. You aren't going to manage that on 76k a year.
In some areas you hold to pay closing costs on a home equity loan. Talk to your mortgage company -you may know how to apply for the primary mortgage and home equity loan and close on them both at the same time.
I'd do a home equity loan. A home equity chain of credit - the interest rate adjusts. A home equity loan have a fixed rate. Given that interest rates are low - I'd lock in.
sorry u own been missed informed.
the house is worth what u bought it for it the realworld.200,000$
u will own no real equity contained by the house for some time. especially in todays loan flea market.
the best chance of 'equity' is subsequent year. read the very fine print.
the appraisal is not the worth of the house don't crash down for that falacy.
suggest u get 2 more job to pay past its sell-by date ur slave credit cards, budget to make ur money behave, market anything not blood related, do not fill the house near on time interest free stuff.
drop by dave ramsey.com to learn the concrete lesosons coming ur way if u try this.
Don't slump for that scam. It's a common one.
Who showed you the appraisal for $398,000?
I bet it be the sellers or the seller's Realtor, right?
How mature is the appraisal? 6 months? A year old?
All Realtors know the fly-by-night appraisers that will put doesn`t matter what value we want on an appraisal. You also don't want to do business beside one that does.
Get your OWN appraisal with someone that YOU find and scrutinize the value crash and burn.
Theoretically, you can refinance the hours of daylight you close on the property. However, the numbers don't work. You state "I'm pretty sure the bank is going to consent to it go to me for my propose...". Is the bank the owner, or is this predicated on a "short sale"? If true souk value is $398,000, why wouldn't you (or someone else) snatch the $149,000 in "equity" currently offered? Obviously, the house currently isn't worth $249,000, much smaller quantity $398,000. The list price is imagined a matter of account and the sales price specifically will be. When appraised for your refinance, the appraisal will have to display sale for the property within the recent past 3 years and listings within the recent past 1 year. This will have to be reconciled to the open market. If the market is truly continuing to decline, and contained by some cases even flat, a considerable number of lenders now require the appraiser provide at lowest 2 listing and/or impending sales to support open market trends. You may get a large amount, but it doesn't appear you'll get a large amount of equity. Best of luck.