First-time buyers who can't quite afford to own a home often look for rent-to-own properties, also known as lease/options. You just want to make sure you're not getting scammed if you opt in to a rent-to-own agreement. There are also owners that take advantage of their tenants in a rent-to-own agreement.
To be a successful landlord, you must have the temperament and financial wherewithal to handle the problems associated with renting property. Unfortunately in a slow real estate market, many homeowners are forced to rent their homes when they cannot sell. Make it a goal to sell your property as quickly as possible, but prepare yourself for becoming a landlord by reading books or consulting an attorney.
A young couple had agreed to a lease/option agreement on a new home. After the death of the young woman, the husband is wondering if he can get a refund of the option amount they had paid toward the lease. Lease/option payments are typically non refundable, but a real estate attorney may be able to discuss what options are available.
A renter had his lease transferred from a two bedroom to one bedroom apartment. Now that he has moved out, the landlord is insisting he owes one month of rent. The renter needs to look at his lease to see what terms he and the landlord agreed to.
A landlord owns a couple of rental properties and would like to purchase more but is concerned about finding good tenants. One good tip is to underprice your rental property to bring in more prospective tenants to choose from. The key is to bring in enough interest so that you can choose the best tenant for your rental property.
A building owner is thinking about building a commercial office and selling it with a lease to sell agreement. Rather than leasing it, holding onto the building could bring tax benefits for owning commercial property. Using a "lease with the option to buy" could also be an incentive to get additional buyers to consider purchasing it.
After a divorce is completed, can a spouse be evicted from his home? It depends on where the spouse lives and who owns the property. If the home used to be the primary residence of the married couple and the spouse who lives in the home did not win the home in the divorce settlement he can be evicted. If it's a regular rental property, eviction depends on the terms of the lease. And if there's no lease, it's likely the spouse is living there on a month-to-month basis, which means the landlord must give only 30 days notice for eviction.
