A tenant is someone who rents a property from a landlord or property owner. The tenant pays rent to the property owner, in exchange for living in or using the property. The terms of the rental are usually defined by a lease. Learn more here abotu what it means to be a tenant and what it involved in renting or leasing property.
Suing Tenant For Extensive Damage
Tenants leave a landlord with cigarette burns on the carpet and kitchen floor. Damages exceed the security deposit. What can the landlord do to recover the damages? The lease may provide that in case the tenant damaged the apartment, you have the right to restore it to the condition in which it was supposed to be returned. If you are allowed under the lease to replace the carpet and the flooring, you should be able to recover these costs when you sue your former tenants.
Landlord Keeps Deposit On Apartment
A landlord does not return a deposit that was put on an apartment. A would-be renter should only make a deposit if there's a clear statement from the landlord as to what will happen to the deposit if you don't rent the apartment. Without this information up front, the landlord should not keep a deposit.
Termination Fee To Break Apartment Lease
A renter hopes to buy a home but is charged a high termination fee from their current landlord. Unless it is included in their lease, the landlord is not obligated to release them from their lease. The best strategy for the renters is to try to find someone to take over the current lease.
Renter Wonders About Condominium Rent Increases
As a renter you may not be sure how much your landlord can increase your rent by each year. How can you find out if your city has any rules or regulations about rental property rent increases? You can contact your city government or check the original rental agreement or lease.
Renting A Home Versus Buying A Home
The question of renting a home versus buying a home is common. You may be unsure if you can take on a mortgage loan, especially if you already have credit card debt. You have to take many factors into consideration when buying a home, including increasing home values and whether renting can save you money in the long run.
Landlords Offering Rental Incentives
Although there are 58 million renters in the U.S., landlords have been hurting for tenants. In some cases, renting a home might be a better option than buying. Many landlords are offering worthwhile incentives to get tenants moved into their rental properties, and renters may be in a position to take advantage of a good deal.
Renting A Good Idea In Current Economy
Landlords are finding that a slowed buyer's market has led to more people looking to rent in the current economy. Many renters are finding incentives like free rent, cash-on-signing and free parking with their prospective homes. Buying a home might still be smarter in the long run, but renting isn't such a bad idea in the current market.
Simplifying Home Closing
When you and the seller are ready to exchange a deed for cash, it's time to head to the closing. If it's your first purchase, you might find the whole closing process to be a bit daunting, but it doesn't have to be
Choosing The Best Rental Tenant
When you have an investment property you're trying to rent, choosing the best tenant can be a difficult decision. You want someone who will keep it in good condition, pay the rent on time, and possibly stay long term. Having a tenant that stays long term will save you the cost of finding another tenant later.
Sellers, Landlords And The Lead Paint Requirements
In 1992, the Environment Protection Agency passed a rule requiring home sellers or landlords of homes built before 1978 to provide information about the hazards of lead paint to the buyer or tenant. They must obtain a written acknowledgment that the buyer or tenant received it. And, sellers and landlords must disclose to buyers and tenants whether there is any lead-based paint or lead-based paint hazards on the property.