what is the difference between a lease and a rental agreement for a condominium?
Question:i have a condominium within san francisco and want to make sure i use the form that will tender me the most protection as a landlord/owner.Answers:
Black's Law Dictionary (6th ed.) starts the definition of "Lease" with "Any agreement which give rise to relationship of landlord and tenant (real property) or lessor and lessee (real or personal property)....
It does not account "rental agreement" separately as though there is a difference.
In sum, I believe you can be confident a lease and rental agreement own no legal difference.
Other Answers:
As a fellow tenant in California rest flowing in the culture that no matter what form you use if your tenant requirements to screw you, consider yourself screwed. This is a tenants rights state.
My guidance to you is:
1) Use applications for any potential tenants,
2) Check the reference listed and not a short time ago the current landlord. These conceivably the devil incarnate and the current landlord will rave more or less how great they are just to win rid of them. Older landlords usually will tell the truth,
3) Check charge history,
4) MOST IMPORTANT! Run a credit check. If you do not know how or where to do this e-mail me and I will pass you the information on the company I use... All online and easy,
5) When sitting down to receive a decision on whom to rent to stroke just resembling a mortgage underwriter would if they were borrowing money. Have specific guidelines and stick to them. You are better to consent to the condo sit vacant for a month or two than to procure the wrong people surrounded by your place.
Remember, once your tenant is in it is intricate to get them out. Be selective of who you rent to. If they ever are late/miss a expense the second they have passed any grace interval you allow slap them with a 3 hours of daylight pay or quit. I never negotiate beside them for partial payments etc... When you end up contained by front of the judge you want him/her to see that your running a business not a charity. If your acting close to a charity the judge may force you to save people contained by your home rent free for a long period of time to allow them time to find a current place. Of course you still get to label your house payment... but short the rental income.
I have several files I use for applications, rental agreements etc... If you would similar to a copy drop me a line and I will e-mail them to you.
Kevin 866-562-6838 x 106
kruorock@firstratelending.com
www.firstratelending.com
Source(s):
Loan Officer, Mortgage Specialist
one is a lease other other you are agreeing to a rental agreement
A "rental agreement" is usually a month to month agreement where on earth a "lease of years" is usually for a period of time, for example 6 months or 2 years. To protect yourself, I would recommend a lease that make provisions for every situation that might arise.
By the way, if your lease is for a year or more, it must be surrounded by writing to hold up in court.
Regards
Source(s):
California Licensed Real Estate Broker and Investor
what sort of lolly flow would I call for on a $85,000 triplex to put together it a accurate investment?
Question:I'm deciding on buying a duplex/triplex for an initial definite estate investment other than my home. I trying to determine prices and expenses that will at lowest keep a positive currency flow in the impulsive yearsAnswers:
To figure your return (ROI) (return on investment) Use the following:
Total rental income - expenses = annual dosh flow
annual cash flow / downpayment+ fix up costs = Rate of Return on investment.
For reason to own investment property clik this link:
http://www.garygeer.com/Why_You_Should_Invest/page_542147.html
Other Answers:
Take the mortgage allowance, (assuming you have one) append insurance, taxes and roughly 5% to that and divide it 3 ways and if this is a fair open market ammount of rent to get on respectively of the units, you are within positive cash flow. Each year at hand will be opportunity to raise the rents slightly. But be prepaired for one or adjectives units to be deserted at times. Can you afford this? And if tennant damages cost you in decoration to a vacancy, you are intake into your cash flow. Most investors do not expect to see positive bread flow the first few years. They are in it for the long heave for prop values increases.
What is the fastest growing nouns surrounded by Florida?? Best place surrounded by Florida to practice Real Estate brokerage??
Question:Answers:
Port Saint Lucie, between West Palm Beach and Fort Pierce, is the fastest growing area within Florida.
Other Answers:
orlando
Tampa area and East Pasco County,in the order of 30 miles north of the Tampa area.
Should I rent or buy a home contained by California?
Question:santa barbaraAnswers:
Bur home if u have plenty money and u dont need money contained by very in the neighbourhood future.consequently the house value would increase geometric ratio.
but if u are surrounded by tight on money then satay rented and earn the intrest on the money which u would own spend it on house.
so act according to ur necessity.
but instead of both if u similar to i would suggest to go for lands that would be best one.
b4 u act dream up it.
ALL THE BEST HOPE U DO THE BEST
Other Answers:
hold on this one, rising interest rate, values will fall, buy when the convenience drops unless you really don't care roughly price
Can I purchase a home surrounded by California beside a 519 FICO gain?
Question:Answers:
Of course you can, but seriously with a glorious Interet rate. All you need is 11% as a down transmittal for the house, otherwise the interest rate can go more greater.
I am a Loan officer in CA so i can sustain you with that, surface free to write me at refinance@inbox.com do remember to give me your contact information within the mail so that i can seize back to you.
Thanks and Good luck
Other Answers:
yes ... but that depends on the company from which ur buying
I've actually see worse. There are a lot of lenders who will contribute you mortgages, but you may have to wage a premium (higher interest rate) to borrow the money.
Work with LendingTree.com and their affliates, eyeshade their offers fussily.
yes I in actual fact know someone that can help you out, I enjoy a lot of loan officer friends if your intrested distribute me a message.
Is it illigal for my manager (we are contained by the state of Florida) to put my rent deposit surrounded by his personal statement?
Question:I found out that my security deposit for my rental home be put in my landlords personal rationalization and not in a seperate "escrow" justification is this something I should be worried about? Plus, I enjoy never received any receipts for the six months that I have rewarded for so far. I'm beginning to verbs about my tenant..........Answers:
Rent deposits need to be kept within a seperate account. If concerned I would contact a advocate.
Other Answers:
That would be called embezzle unless he transfers the funds to the business account.
i hope you payed your rent by check, thus negating your stipulation for a receipt, but the finishing three times i rented they put my deposit in a special interest carriage account, but i dont know if this is mandatory....but yes you should probably start worrying and preparing files just contained by case..
Alot of landlords deposit rent money within personal accounts.....but I would start asking for receipts.
Source(s):
personal experience
receipts are a good thought.
YES THIS IS ILLEGAL. IT IS CALLED COMINGLING OF FUNDS, AND IF YOU TAKE HIM TO COURT, HE COULD FACE PENALTIES/CHARGES.
I have rented for four years and never received a acceptance. If you write a check to your landlord, that serves as proof of allowance. As for your landlord putting your surety deposit in his personal depiction. I would check to see whether the state of Florida requires him to put it in a separate "interest bearing" tale. In order to find this information, I would suggest you shift to www.nolo.com or try G00GLE. Also, it is always a virtuous idea to nick pictures before you rent the apartment and until that time you hand it vertebrae to the landlord. This course you have documented any problems that existed prior to you renting it.
Source(s):
www.nolo.com
I am a innkeeper in Illinois, and within my state, you have to keep hold of deposits in seperate accounts as very well as tell the tenant what wall it is kept in. I am not sure of Florida law, but you can go to the state net page and see if this a law. It may also require that you are salaried interest, however in Illinois you do not enjoy to unless the LL owns a 25 unit or bigger.
If he is not keeping contained by escrow account and it is the ruling, first he is breaking laws, and secondly unless specified surrounded by your lease, he is break agreement of your lease.
Source(s):
Personal knowledge, Landlord for 10 yrs.
Specifically "Security Deposits" are lawfully required to be held in an story not to be mingled with other income from the business. Rent however can be co-mingled.
If you retribution in dosh, you'd better be getting a receipt every month. Otherwise, your check should sufice as a taking.
As a tenant, you have the right to request justification numbers for the security deposit details at any time. Your security deposit should enjoy listed the mound where the funds would be held.
what is the best channel of abiding money?
Question:Answers:
start a savings article. Put money in here like if its be another bill to pay. Forget nearly it until you need it. Works for me. Oh and put as much as your chief bill. For example if your car expense is $250 a month and your cell bill is only$100 put $250 in your funds, if possible. Think nearly it, it may work for you too. Good luck with the reserves.
Other Answers:
don't spend it
What do you mean? as contained by how to start saving up money, or how to invest your money?
For saving up money I other suggest that people amount out how much they spend on entertainment (Movies, eating out, clubs, sporting events, clothing, ect.) and embezzle about 10% of that number and amass it weekly. This also means you downsize spending by that amount on entertainment.
How to invest savings? As long as you are dealing beside less than enunciate 5k proabably look at standard bank investments such as CD's Money market, and savings accounts. If you are dealing near more you might want to look at the bond or equity (stock) markets.
1. Live below your technique (i.e. spend less than you have).
2. Pay yourself first - appropriate out a set amount from each paycheck, and live on the rest.
can settlement consultation be used as evidence within civil cases?
Question:Answers:
no. the only evidence that can be used is documents, sworn nouns, or affidavits. otherwise, they don't have to agree to having said it and anything else is lately heresay.
Other Answers:
yes
only if both sides admitt within was an agreement.
I don't believe they can, mostly. There may be circumstances under which aspects of the discussions needs to be introduced, but I still muse (generally), no.
NOTE: I am not a lawyer.
IT DEPENDS.
IF you turn to a mediation hearing where on earth you have an agreement between both party that the information presented in that consultation is confidential... then you can't use it contained by court.
However, if you have simply have talks near the other party on your own beside no pre-arranged rules, whatever you enjoy said is fair activity. However, proving the contents of such a conversation would be difficult.
What's the best type of mortgage to refinance to?
Question:Should we stick to a 30 year fixed, try an ARM option? Our aspiration is to lower our monthly payment. What give or take a few 40 year loans?Answers:
It depends on how long you plan on living in your home for. If you're going to be moving contained by 5 years then you should look into an ARM or possibly an interest solely product. Also your credit score and mortgage history are going to be a factor. 40 year mortgages are a upright product to lower your monthly payments, but there is usually a "balloon" recompense due in 30 years. The longer you plan on staying surrounded by your home the more I would look to a fixed product.
Other Answers:
I would go beside a 30 year and set it has a aim to apply monthly reductions during the vivacity of the loan. Build some equity and pay smaller number interest.
I'm looking for a wholesale lender that finances agricultural loans, stables, etc. within Florida?
Question:Answers:
Try north pointe bank.
Other Answers:
I suggest you e-mail cfichomemtg@yahoo.com
I am a mortgage consultant email me at jfreeman@bourdeaufinancial.com I may be capable of assist you
any nurture wager on on this company nothing down existing estate investor?
Question:or the web siteforeclosureland.com
Answers:
If a company is offerring you zilch down on a list of foreclosed properties that they enjoy in inventory, they are usually offerring something call "lease purchase option". Which means you income a non-refunable option charge to lease a property. A portion of your payment get applied towards your down payment should you resolve to buy the place. It's an excellent program for people who enjoy bad credit, but the drawback (and what they are hoping for) is if you ever miss a pay-out, you no longer will be able to purchase the property. If you ever do something resembling this, always account your option to protect your interest contained by the property.
Find out how the program works and e-mail me. I will tell you exactly what they are doing and what to see out for. When it comes to creative real estate investing, I hold adjectives the cards.
Regards
Other Answers:
No feedback, just suggestion:
If it sounds to good to be true, it probably is.
Sounds used to, right?
What is the efficacy of my 8.97 acres located surrounded by Jamestown Ca. With Well, Electical, and Gental slop, home with the sole purpose?
Question:Answers:
Presently the market is soft surrounded by Tuolumne County. On the other hand constraint may be high for acreage and have some of the improvments such as electrical, well. Having a lenient slope may mean view?
Has the land be perked for a septic system?
The best determination may be buy a local Broker who knows Jamestown and can examine recent sale.
I suspect the value would be contained by the $200 range
Other Answers:
Come on, pick an answer or put it to a vote.
what are a tenant's rights once they voluntarily go?
Question:I gave my roommate a 30-day identify. She moved out in 12 days but have not paid me rent for duration as required by directive. She verbally told me when her ending day be, and left on that daytime without departing a check for the duration of 30 days. I would like to modify the locks, can I since she voluntarily left? Usually you own to wait until you issue "quit or wages rent" to formally evict her. She refuses to donate her forwarding address (so how can I notify her?).She might demand to freely enter during the subsequent 18 days once I call her to ask for rent money again (to check whether I enjoy a new paying roommate. i do own a guest with me until the lease begin next month near my new roommate but that individual is not paying yet). Let me know if I can change locks since she voluntarily moved out, how to notify her without any address and/or ways to pressure her (without the legitimate system if possible) so that I can recover the money.
Thank you much, this will be a big back.
Answers:
You have already served her beside a 30-day to pay rent or quit and she opt to quit by voluntarily leaving the property. Instead of foreceable removal (eviction) she settled to leave of her own concurrence.
The next step for you is to database a money judgement agst her for the back rent. The court whill serve her beside notice to appear and if your travel case has merit, ruling will be awarded in your favor whether or not she bothers to appear so long as service observe was worthy. You still need to try and locate her forwarding address or other address she can be raeched as the process server will obligation it for service to be completed.
Other Answers:
WELL since she left on her own she still have to pay the rent for that month. Well if u know her framily member see if they can contact her and if that does not work you will have to try to hold her to civil court...
As far as i can see, you are free to translation your locks since she has not here the apartment.
You however can't expect her to pay you for a month's rent when she departed after only twelve days of the month. Unless you have some contract drawn up with specific details such as this included re: second payment of rent must be made contained by full if tenant is evicted or voluntarily leaves before the full month have ended.
Did you not produce it mandatory to collect first and last months rent. This would enjoy covered you, because you would have already collected the funds for her final month even if she left impulsive.
If you don't have a contract next to this person that could hold up contained by a court of law, later you don't have any permissible ground to stand on, because she can say that you give her notice of eviction and since she vanished before the thirty-days be up, she is not obligated to pay you any rent.
My direction is to count your losses and move on. Try to safeguard yourself surrounded by the future from this taking place.
Always ask for first and last month's rent beforehand taking in a roommate.
Will the interspousal verbs action signed by estranged spouse prevent him from looting my equity w/divorce?
Question:My sole (ca) property was purchased surrounded by '97; 2 yrs prior to our marriage. He signed interspousal verbs deed within 2003 when I refinanced to 15 yr mtg. He already sold his sole 'out of state' property upon separation 1 yr ago & purchased another home in tx state. I received zilch from his mart. Is he entitled to 'loot' my equity? I can not afford to 'buy' him out. Help! help-help! Our dissolution has not be filed even so & he is threatening to 'loot' my equity which is in excess of $300K. His describe was never on any deeds & be never on the previous mortgage loans! Please help me! I stipulation to file a disso, but am paralyzed by start and anxiety!Answers:
If you owned the property prior to marriage, he be never on the deed, he signed a quit claim action at a refiance showing no interest in the property and he can not prove that he ever remunerated the mortgage you should be OK.
Best advice, have a chat to a lawyer. If you do not own one drop me a line. My employer wife is a family regulation attorney who specializes in matter such as yours. I would be happy to go beyond your name and number on to her she is thoroughly nice and a real shark adjectives in one!
Best of Luck.
Kevin 866-562-6838 x 106
kruorock@firstratelending.com
www.firstratelending.com
Other Answers:
If his pet name is not on the deed nor the loan docs you, and he also signed the quit claim work at the time you got your second refinance you have sufficient evidence to prove that he have and have no interest surrounded by your property.
He is going by the age old California imperative that says partly of what you own is mine and half of what I own is yours.
When and if you attain a divorce you should have your attorney should acquire his documents from the sale of his out of state property as resourcefully as his purchase of this out of state property, which would prove that the both of you intended to keep your authentic estate holdings separate one from the other.
I hope this has be of some use to you, good luck.
"FIGHT ON"
Should I rent or buy within California?
Question:Answers:
Rent. The party is over. The ratio of price to rent is too illustrious - the party is over surrounded by Calif. So rent.
Other Answers:
Hm... I live in california, and the prices are outragous! Good article we bought this house back when it be cheaper. Rent is 500-3000$ a month, for a small apartment or studio. If you have alot of money, or you own good credit, I would reccomend buying, so you don't jave to constantly reward. With good credit, you can return with a loan, or a mortgage. Whatever you decide to do, base on this, Good luck ;)