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What else can I help you with?
What does landlord insurance cover in terms of loss of rent?
Landlord insurance typically covers loss of rent due to factors like tenant default, property damage, or other unforeseen events that make the property uninhabitable.
Can I obtain a construction loan to make renovations on my existing house?
Yes, you can obtain a construction loan to make renovations on your existing house. These loans are specifically designed to fund the costs of renovations and improvements to your property.
How do real estate agents make money on rentals?
Real estate agents make money on rentals by charging a commission fee, typically equivalent to one month's rent, from the landlord or property owner for finding a tenant and facilitating the rental agreement.
What would you have to do to get a home improvement loan?
A home improvement loan is intended to be used to make improvements to the value of the home. In recent years, homeowners have used this to buy new property to be used as investment vehicles.
What are the eligibility criteria for claiming the home improvement loan interest deduction on my taxes?
To claim the home improvement loan interest deduction on your taxes, you must meet the following criteria: the loan must be used to make improvements to your primary or secondary residence, the loan must be secured by your home, and the improvements must add value to the property.
What is a ti estimate?
A TI (Tenant Improvement) Estimate would the estimated cost to "build out", "convert" a space that is being leased or considering to be leased. It is the cost to make the space that the tenant is leasing usable to that tenant for their type of office or retail space.
Who is responsible if the tenant broke his lease but has section 8?
if you make your property a section 8 property who is responsible for problems that occur on the house
How are tenant improvements administered?
If a landlord plans to make upgrades to a tenant's apartment, they will usually pay for the tenant to stay somewhere else, like a hotel. While the tenant is gone, their apartment will get new carpet, paint, or whatever else is needed to make it nicer.
What does re leased mean?
If you are referring to a subsidised tenancy, the tenant must re-certify every year, before their anniversary, to make the administrator aware of any changes in their income or household. If there are no changes, the tenant still needs to make them aware of that.
Is it proper to say demised premises instead of leased premises?
According to Webster's New World Dictionary the word demise means death, so it's doesn't make sense to the average person to see the term "demised property" referred to in a lease. Lawyers love to use "legal" sounding language in everything they do, but this is "old school, and is going the way of the dinosaur.
Can tenancy in common pass property through survivorship?
No. The tenant must make a will.
What is the difference between a life tenant and a life estate, and how do their respective rights and responsibilities differ in property ownership?
A life tenant is a person who has the right to possess and use a property for their lifetime, while a life estate is the legal interest in the property itself. The life tenant has the right to live in the property and make certain decisions about it, but they must also maintain the property and pay for its upkeep. The life estate holder, on the other hand, has the right to the property after the life tenant's death, but cannot interfere with the life tenant's rights during their lifetime.
What happens when a property is conveyed by deed to the holder of a life estate?
The "life tenants" can reside on the property for their lifetime. They are responsible for taxes, maintenance and any improvements they choose to make and are required to keep the property maintained in at least the same condition as when it was awarded. They cannot rent, lease, sell or transfer the property. Nor is the property subject to creditor attachment by the debts belonging to the "life tenants". Upon the death of the "life tenants" the property reverts to those named as the "remainder men".
Can you put a lien on a house that you are renting for improvements you made to the house?
Only if the landlord agreed to pay for those improvements. Normally, you would not be reimbursed for the cost of repairs or improvements you did not have permission to make. In fact, you might be responsible for paying to restore the property to its original condition if the landlord did not like your improvements.
Does a tenant lose their security deposit if the landlord sells the property?
No, not simply by virtue of a sale of the property. However, the tenant must take the necessary steps to safeguard their deposit. Security deposits are a complicated issue and state and local laws may vary regarding how they are to be managed. The tenant should always make sure to obtain a receipt for the security deposit at the beginning of their tenancy and keep that proof in a safe place.Generally, a security deposit is supposed to be kept by the landlord in a separate account during the tenancy. When the tenant moves, the security deposit can be used to repair any extraordinary damage to the property apart from normal wear and tear. If the landlord wants to keep the deposit, they must provide a detailed accounting to the tenant that lists any damage and the cost to make the repairs and provide that statement within a certain time period, typically 30 days. If the landlord fails to follow state law then the tenant will be granted 2 to 3 times the original amount as a refund if they take the case to small claims court.When a leased property is sold and the tenant plans to remain in the rental they should discuss the security deposit with the departing landlord and make certain it is turned over to the tenant or the new landlord. They should obtain a receipt that documents this changeover.If you have further questions you should contact your local landlord/tenant agency.
Can a tenant removed shrubs and trees from the garden without the landlords consent?
Probably not. In order to make any kind of improvements inside or outside the home, you must have the consent of the landlord.
Can you make fellow residents pay for using amenities on your property?
If you own a property and are the landlord of homes on the property, you can add to your contract that the tenant has to pay utilities. However, if that is not in the contract, it may difficult to get them to pay utilities.
