Posts Tagged 'landlord tenant'

7 Awesome Benefits of Lease Options For Landlords

Posted on: June 16, 2011

Categories: How To Sell, Profit

Author: lbuen

7 Awesome Benefits of Lease Options For Landlords

What are Lease Options?

Lease options is short for “Lease with the Option to Purchase”. As the name suggests, two events are expected to take place – the lease and purchase of a property, where the latter action is at the discretion of the buyer/tenant. In this contract, you as the seller are bound to sell, but the buyer/tenant is not bound to buy.

How Do Lease Options Work?

By paying a valuable consideration upfront, the buyer/tenant gets an option to buy a property at an agreed price at the end of an established period of lease, typically one to three years for residential properties, but could get longer due to the present credit environment. The consideration, which is often nonrefundable, is usually at two to three percent of the market value of the home. This is preferable for… Read the rest

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Section 8 Tenants – 4 Reasons For Landlords To Let Them In

Posted on: January 28, 2011

Categories: Investors, Property Management, Things To Consider

Author: lbuen

Are you walking on eggshells when wooing delinquent tenants to settle their dues lest they might vandalize your rental property? Are you hesitant to acquire and rent out low-cost rental units because you worry about managing problem tenants that commonly rent such houses? You may want to consider taking in Section 8 tenants.

What Are Section 8 Tenants?

These are low-income families who qualify to avail of the Section 8 housing assistance provided by the US Department of Housing and Urban Development. They are given Section 8 vouchers as tokens to their entitlement to such subsidy. Many of these Section 8 Tenants are single mothers with children while a handful of them are grandmothers with grandchildren.

Why Accommodate Section 8 Tenants?

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Landlord Tips For the Legally Blind Property Owner

Posted on: January 25, 2011

Categories: Investors, Procedures, Property Management

Author: lbuen

Landlord Tips on Rental Applications and Lease Agreements

Prevention is better than cure. The cliche surely applies to renting out properties, and legal documents such as Rental Applications, Lease Agreements and lease clause inserts are your prophylaxis to the headaches that many landlords suffer from when they have not taken the trouble of getting vaccinated. Some experienced landlords and lawyers handling landlord versus tenant cases prescribe some landlord tips for the beginning landlords who are most often still legally blind and additional landlord tips for those who have been in the business for a time.

Landlord Tips on What Legal Documents to Prepare

For a smooth-sailing contract-signing with the tenant, require him to bring the necessary documents including a copy of his social security card, driver’s license, and the amount due in cash, certified funds or money order. The… Read the rest

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Shhhh…Underground Advice: How to Claim the Homestead Exemption as a Landlord

Posted on: November 20, 2010

Categories: Property Management, Things To Consider

Author: buyfixandprofit

Shhhh…Underground Advice: How to Claim the Homestead Exemption as a Landlord

The landlord was planning on raising the rents on his properties in order to offset his additional costs, until he discovered that his county allows for tenants to claim the homestead exemption. The homestead exemption reduces the assessed value of a property, which in turn lowers the property taxes. So instead of raising the tenant’s rents, he worked with them to have them claim the homestead exemption, which in turn would maintain his cash flows.

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Landlord Jailed After Trying to Suck Tenants’ Toes

Posted on: November 19, 2010

Categories: Property Management

Author: buyfixandprofit

Landlord Jailed After Trying to Suck Tenants’ Toes

Here’s a story to help give your mind a break from placing offers, negotiating short sales, and calculating cash flows.

A landlord with a bizarre foot fetish who targeted his tenants by trying to suck their toes and acting indecently in front of them has been given a 18-month prison sentence after being found guilty of a number of sexual assaults.

Can you imagine going in front of a judge and asking to break the lease because the landlord would not stop sucking on your toes?  This world is filled with some crazy people.  I bet the tenant could have negotiated a rent reduction at least.  I’ll let the bank rep suck on my toes if they reduce my mortgage by 50%!

Read the story here.

http://goo.gl/XdBXR

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Is it Legal for a Landlord to Establish a No Smoking Policy?

Posted on: November 13, 2010

Categories: Property Management

Author: buyfixandprofit

Is it Legal for a Landlord to Establish a No Smoking Policy?

Q. I own and manage a medium-size apartment building. A few of my tenants have asked me to implement a “no-smoking” policy for the entire building, including individual units. Can I do this without getting into legal trouble?

Bottom line answer is YES.  Landlords are allowed to establish and enforce no smoking policies in their rental properties.  Landlords who have established smoke-free buildings have often met resistance from smokers, who claim their “right to smoke” is being infringed. These claims haven’t prevailed, nor have similar objections to municipal ordinances banning smoking in multifamily settings within the city limits.  Please check with your attorney to verify your local laws are no different.

When Should a Landlord Start Enforcing a No Smoking Ban?

How about right away?

Your tenants’ request is one of a chorus of demands by residents nationwide that they… Read the rest

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