Real Estate Leasing

In real estate leasing, the lessor (landlord) and the lessee (tenant) form a special kind of agreement. This agreement defines the period of time covered by the lease, and the rent to be paid by the lessee.

523 Questions
Math and Arithmetic
Real Estate
Real Estate Leasing

How do you calculate rent per square foot?

RENT PER SQUARE FOOT FORMULA:

Monthly Rent Per Square Foot = Total Rent per Month / number of feet

Yearly Rent = Monthly Rent Per Square Foot * 12

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Real Estate Buying and Selling
Real Estate Investing
Real Estate Leasing

How do you get a real estate agent license in mumbai?

In India real estate license is commonly known as the property dealing license. This license is necessary in order to do property dealing in India. The terms and conditions and requirements for the license are different all across the India but basics are the same. In this article we will take in consideration the rules in Gurgaon district of Haryana regarding the property dealer's license.

First of all if a person indulged in real estate consultancy without a proper license will be fined Rs. 50, 000 and in case of a company or society the fine will be Rs. 1 lakhs.

The fee for the property dealer license is Rs. 25, 000 for the individual and for company or society the fees is Rs. 50, 000. Along with the application form the residence proof, 4 photos, thumb impression, undertaking of solvency certificate, character certificate, 2 guarantors about genuineness of the applicant, office address along with the treasury challan of the payment of prescribed fees. The validity of the license is for 5 years after which it can be renewed. The renewal fees are Rs. 5, 000 for the individual and for company or society the fees is Rs. 10, 000.

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Taxes and Tax Preparation
Real Estate Leasing
Income Taxes
Property Taxes

If you replace a leaking roof and add a deck to your rental property can you deduct the costs on your taxes?

You can deduct the costs over time. Both items are considered capital expenditures, so must be depreciated over the life of the property (27.5 years).

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Apartments and Home Rentals
Illinois
Real Estate Leasing
Landlord-Tenant Issues

How often are landlords obligated to replace paint and carpets and what city jurisdictions require landlords to paint the rental interior?

It is against the law to move in new tenants if the apartment or suite is not up to standards (needs new paint or carpeting, different things needing to be fixed.) Usually the person that will be renting will not pay rent or move in until this is done. If you have damaged the apartment and there is need for fresh paint, etc., then he is not obligated until the next tenant moves in. However, if you have lived in this apartment/suite for a long while and it needs painting and your landlord refuses (it has to be pretty dirty) then you can go to your local City Hall and put in a complaint. Go onto your internet and look up "City by-laws and regulations for rental apartments" and be sure you put your State in there. You should get the most up-to-date info on the rights of tenants. Marcy

This question cannot be answered on a broad basis. Each state and each city will have their own regulations. There are also different associations which govern apartments on a city by city basis. Whenever you move into an apartment you should fill out a disclosure form highlighting what you may have found wrong with the apartment.

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Mortgages
Real Estate Leasing
Landlord-Tenant Issues
Plural Nouns

What is a 1-year lease on a house?

Answer

A lease is a rental contract that gives you specific rights during the period of the lease, rather than the default "month-to-month" rental, which could even be oral.

The lease for a specific period is essentially an agreement to pay the rent for that entire period, often in monthly installments, and may state valid reasons (if any) for "breaking the lease" with proper advance notice, and other requirements, to avoid penalties.

There are several advantages of a lease. The rent won't go up, there is a document that can be used for stating the responsibilities of everyone involved, the landlord doesn't have to worry about showing or renting the space for a longer period, and so on. You can agree about almost anything in a lease: who does the different types of maintenance, who pays for improvements or damages, how the house can be used and how it should not be used (e.g., for sublet, frat house, meth lab, etc).

One of the most important things in a lease these days is that the tenant (lessor) has rights to possession (occupancy) of the property regardless of who happens to own the property. So, if the bank forecloses the property, the lease remains in effect and the tenants are given instructions to pay the rental fee to a different owner.

Answer.

This means that you need to stay in the house and rent it for one year and you are not allowed to move out unless the lease is up.

828384
School Subjects
Real Estate Leasing

What is a service lease?

Service versus Net lease. In a net lease the lessee has the responsibility to maintain the asset. In a service lease, the lessor provides the maintenance. By bundling a maintenance contract and a lease, the lessor provides an effective bond that maintenance will be performed.

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Real Estate Leasing
Commercial Leasing
Landlord-Tenant Issues

Do you need money down for a triple net lease?

There is no law requiring money down on a triple net lease, so any required down payment would be up to your landlord. Keep in mind that you will need to start paying property taxes, building maintenance, tenant improvements, etc. immediately after you sign the lease. Those expenses can add up quickly, so be sure to have sufficient funds set aside before signing the lease.

575859
Emancipation and Ages for Moving Out
Apartments and Home Rentals
Michigan
Real Estate Leasing

How old do you have to be to get an apartment in the state of Michigan?

You must be 18 to sign a lease agreement in any state, or you have to have been legally emancipated.

535455
Job Training and Career Qualifications
Real Estate Buying and Selling
Real Estate Investing
Real Estate Leasing

Predictive survey index test tips?

Pick the words that describe you on page 1. Pick the words others would describe you as on page 2.

There's no right or wrong as it's a personality test, much like being a A type personality or a B type personality the test simply gives some insight into how you may tend to look at certain problems or react to certain people. All indications are that the test works, within those limits.

Some companies give far too much weight to these types of surveys. Some even panic about pairing different personality types. In my humble opinion a manager should be able handle any personality type working for him or her, laterally and upwards. I personally could care less about the results of the test (yes I've taken it) and care far more about those somewhat more important things, for instance, honesty and willingness to work hard. I trust my internal BS detector more than a test result.

You may want to consider the ramifications of working for a company that is unsure enough of their managements ability to need to take these types surveys -too- seriously. It's one small tool only and should be treated accordingly.

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Real Estate Leasing
Commercial Leasing
Landlord-Tenant Issues
Mutual Funds

What is an NNN Lease?

NNN lease means triple net lease which is common in commercial leases. "Net Lease" is a term used to signify a lease structure in which the tenant or lessee is responsible for paying a portion all of the common expenses related to real estate ownership.

474849
Debt Collection
Real Estate Leasing
Landlord-Tenant Issues

What is required for a collection agency to attempt to collect past due rent?

My experience has been that an agency may not take over a debt before the 31st day after move out. Different agencies require different documents. To be safe, have these documents organized and available. Signed lease, rental application, move out statement documenting all charges, and any supporting documents such as receipts. See my blog atwww.thelandlorddoctor.com or contact me at Bill@thelandlorddoctor.com Good luck!

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Questions about WikiAnswers and Answers.com
Real Estate Leasing
Citation and References

Questions to ask landlord reference?

I thought this was a search engine... but more specifically, I need to interview a landlord as a reference, and I want to know if there are ways of ferreting out a fake reference.

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Not quite sure what it is you're asking. I was a landlord for about fifteen years and I know that the process of filtering out potential bad tenants is crucial. Good tenants are gold and you should strive to keep them happy.

Regarding references; I always ask for three. I ignore the most recent reference from the tenant's previous landlord because the chances are good that he will lie to me about the quality of the tenant because he wants to get rid of them; so he's not likely to want to place any impediment in their finding a new landlord to bedevil.

Call their other two previous landlords and you're more likely to get the real story on what kind of tenant they will be.

If you're not already doing it, always have a written lease properly made out and signed by all parties. Make sure the tenant gets a copy, also duly signed.

Emphasize to the prospective tenant that you expect the rent to be paid in full and on time every month. If it isn't, I usually allow a short grace period of two weeks for the tenant to make up the shortfall. (Although I don't tell them that until a default occurs). Also, document the dates of any rental default because you'll need this if and when you decide to begin eviction proceedings. Three defaults and I start the eviction process. Don't procrastinate because all through this process you'll be hemorrhaging money.

Once you have vacant possession, change the locks on the same day. Preferably within ten minutes after they're out the door.

I heard of one landlord who had a heck of a time getting rid of a non paying tenant (couldn't turf them out during the winter in his locale) and when he finally did get them out, they went to their new apartment and the landlord wouldn't let them take possession, so they came back to their old apartment and moved right back in.

Talk about frustration!

I hope this has been of some help to you.

454647
Apartments and Home Rentals
Real Estate Leasing

What is my liability as a condo owner if a woman resident and a man renting a condo from me condo went out for few outings and later renter harasses this woman resident of the building?

There could be a liability if the renter has a criminal record and you were aware of it or failed to properly conduct a background check. You community may have restrictions contained within their docs, you may wish to check.However if this lady elected to go out with your renter that is their business not yours. If she has contacted you in regards to the renter see your attorney ASAP, there may be a hidden agenda

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Repossession
Business Accounting and Bookkeeping
Real Estate Leasing
Letters Notes and Memos

What are different types of lease agreement?

1 - Operating Lease

2- Financial Lease

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Acronyms & Abbreviations
Real Estate Buying and Selling
Real Estate Leasing

What is full form of iod cc?

(IOD) - Intimation of Disapproval

(CC) - Commencement Certificate .

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Apartments and Home Rentals
Shopping
Real Estate Leasing
Landlord-Tenant Issues

If you paid 200 pounds deposit on 3 piece suite then couldn't afford it can you get the deposit back?

Usually there is a non-refundable portion of the deposit if you have custom ordered an item or if they charge a restocking fee. In the U.S., you have a 3 day right of recission to cancel.

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Real Estate
Real Estate Buying and Selling
Real Estate Investing
Real Estate Leasing

What is the major goal when investing in real estate?

Simple... The major goal when investing in real estate is to build up your net worth (wealth) and increase your cash flow. There is a right way and wrong way to do this. The tried and true strategy is buying prudent cash flow real estate in stable or growth markets and hold it for the "long term" -- as opposed to "flipping".

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Law & Legal Issues
Job Applications
Real Estate Leasing
Justin Bieber

Should you say yes or no when asked have you ever been convicted of a felony on a rental application?

You should answer it. Because the lanlord will find out anyway. They can do a credit check and criminal check.

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Search Engine Optimization
Google
Real Estate Leasing
Thomas Jefferson

Who designed Armani home in antigua?

The villa was designed by Gianni Gamondi

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Illinois
Real Estate Leasing
Great Lakes

Does Rentworks USA Corporation have offices outside Illinois I heard they were great and we need to use them?

Hello, I have used Rentworks before in Georgia for a townhome in New Colonies. They were very helpful. I went to their Peachtree location, it was a few years ago, I dealt with a Ms. Kendall and a Ms. Lawrence and paid the cost for the service and they let me pick out the home and their people secured it for me. You can always check and see if the location is still there. Gloria Adams

313233
Beer and Brewing
Commercial Property
Real Estate Leasing
English Spelling and Pronunciation
How To

How to spell premises?

The correct spelling is premises.

One example sentence for you is: We will have to close the premises.

Another example sentence is: You have been asked to leave our premises twice now.

91011
Real Estate Leasing
Housing Associations

Can a condo association prevent rentals?

Yes, if the CC&Rs specifically address the issue.

Another Answer

Rental restrictions may also be contained in amendments to the CC&Rs, all of which are filed in the local hall of records for land use.

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Deeds and Ownership
Real Estate Leasing
Internet Research

How do you find an owner of arental property on the internet?

Search the address on the local county property appraiser's website. It should give you the owner's name and mailing address. If not, try the local clerk of the court website.

Most likely you will get a LLC or corporation, from there you go to the secretary of state's website and look up the owner of that entity.

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Real Estate Leasing
Landlord-Tenant Issues
Retirement Planning
Social Security

Can a landlord damage your credit if they never took a security deposit or Social Security Number from you?

No, they have to have your SS# to be able to do anything with your credit. Also a security deposit doesn't mean anything when it comes to renting if you do not pay your rent or get evicted due to another cause it has nothing to do with your credit.

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Insurance
Real Estate Leasing

Why does a tenant need property damage insurance?

Your land lord is not responsible for any damage to or loss of personal belongs. This is why you would want to get renters insurance. The owner of the home should have it covered with "Home Owner's Insurance", which doesn't cover a tenant's belongings should there be a fire, etc. Renter's Insurance covers the tenant's belongings. Without it, a tenant would not be eligible for a claim and would not be able to recoup any losses.

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