Tuesday, March 20, 2007

REIT Guide by Rentlaw.com

March 18,2007: Rentlaw.com The National Landlord Tenant Guide introduces a guide to Real Estate Investment Trusts (REITS).

A real estate investment trust is a private or public corporation (or trust) that enjoys a special status under the U.S. tax code that allows it to pay no or little corporate income tax so long as its activities meet statutory tests that restrict its business to certain commercial real estate activities. Most states honor this federal treatment and do not require REITs to pay state income tax. By law, REITs must pay out 90% of their taxable income in the form of dividends.

The REIT structure was designed to provide a similar structure for investment in real estate as mutual funds provide for investment in stocks

For more information on Real Estate Investment Trusts (REITS) see RENTLAW.COM - The National Landlord Tenant Guide.

http://www.rentlaw.com/reit/terms.html

Friday, March 16, 2007

Rentlaw.com - FOR SALE? !

Rentlaw.com FOR SALE?

Someone started a rumor that Rentlaw.com - The National Landlord Tenant Guide (see http://www.rentlaw.com) has received several buyout offers from a legal publisher and several venture capital firms.

As the publisher, researcher and everything else, I can tell you that is not the case. In the past, we did receive several inquiries - however, none of them pursued hard enough to spark an interest.

RentLaw.com began in 1998 with a few simple pages to where it is now today. Our free membership draws from all walks of life - from tenants in inner cities to high-end landlords and an Attorney General or two.

So, is Rentlaw.com for sale?
No.
Not yet.
The website and membership continue to grow. Could we use a partner with money to further ramp up the still simple design and coding? Sure. Could we better market Rentlaw.com, reaching more people and gaining more members? Yes. Could we could we? Should we?

Now that I think about it....

I'll continue to write. And wait.

Rentlaw.com will continue on.
To serve and protect.

Thursday, March 15, 2007

Evictions by Rentlaw.com

UPDATED October 10,2008

-- Rentlaw.com The National Landlord Tenant Guide to Evictions.

Evictions are not easy for a landlord or a tenant, especially when children are in a home.

Rentlaw.com, The National Landlord Tenant Guide has introduced an updated state by state guide to evictions for both landlords and tenants on their website
http://www.rentlaw.com/eviction.htm .
In announcing this latest feature of Rentlaw.com, David Dorfman, Publisher, noted that evictions "are more common then most people believe and impact all classes."

Noting the difficulties that many tenants, especially the elderly, persons with disabilities and families, encounter when being forced to move, as well as the potential for increased homelessness due to a tight housing market, Dorfman said, "Eviction requires a reasonable balance between the needs of tenants and those of property owners."

The landlords will state it simply -- they need to get paid to pay their bills.

Dorfman suggests that tenants who cannot pay their rent and may be facing evictions "contact a local tenants organization, social services agency or other community run assistance center. Also, try speaking to the landlord and let them know the current circumstances. Have a plan."

For landlords, Dorfman recommends that if you are in business of renting, you should know all the laws, screen tenants the best you can and, to cover you as the landlord, follow the proper procedure when leasing and when noticing the tenant for any violations. In most jurisdictions, the tenant, even if they have not paid their rent, will have the upper hand.

When questioned on the current economic conditions and the job market and housing, Dorfman said, "The current economic conditions impact everyone. Rising rents and home values, a rise in property taxes, shifts in the job market , single parent/wage earner households, these all play an important role. Naturally the landlord wants to pass along his operating expenses to the tenant."

He continues, "As home values continue to rise, a stronger demand for rental housing is created, possibly driving up the price of rental units." Dorfman does point out, "With an increase in home values over the past three years, there may be times it is more beneficial to rent then own." Said Dorfman, "Especially in over built townhouse and condo developments -- where either builders or investors have to cover their mortgage payments -- look for good rental deals".

But for places where rentals are in demand -- beware. For the most part, rent control is non-existent in single family housing units, nor in many cities and towns throughout the country. Your landlord can raise the rent to whatever the market demands.

If you had signed a one-year lease, be sure to renew your lease by signing a new lease for the next year. Dorfman points out "If you don't sign a lease, in most cases, you are considered a month-to-month tenant. Your landlord may be able to give you 30 days notice to leave." Again, Dorfman says, "but the laws of evictions are very specific and both the landlord and tenant have to follow a process to protect their rights under the law."

Many landlords are using the Internet as well to check to see if an eviction appears on a tenant's credit history. So try to avoid an eviction.

For further information on Rentlaw.com and Evictions, please go to
http://www.rentlaw.com/eviction.htm and follow the links to your state.

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