Landlord and Tenant Guides

Tenant Screening for Real Estate Agents

2011-04-25T13:57:00.000-07:00

Tenant Screening for Real Estate Agents

Real Estate agents may not have access to a Tenant Screening Service. This is often the case in small offices or in offices that don't do many residential rentals.

Real Estate Agents who need to run a tenant credit, criminal history and obtain a credit score on an applicant may simply use the RentLaw.com Tenant Screening Service available through

http://rentlaw.mysmartmove.com

There is NO COST to set up a property you are managing or leasing for the owner.

Real estate agents may simply create an account at:

http://rentlaw.mysmartmove.com

You should select the LANDLORD option and create an account.

You can setup and manage multiple properties under one account.

Once the properties are setup (only takes a few minutes), when an applicant comes in, you may still take a traditional paper application (available here on RentLaw.com http://www.rentlaw.com/forms/rental-application.htm ).

To use the rentlaw.mysmartmove.com tenant screening service, you will need the applicant's email address.

You login to your landlord account, select the property the applicant is applying for and enter in the email address of the applicant.

At this time, you will select who will pay for the report - The Landlord or The Tenant.

You may want to pay for it as the Landlord, then collect the fee from the tenant. This makes it easier and doesn't delay or scare off the tenant. Only collect an application fee if you are permitted by state law. In most states, you may not charge MORE than what the actual report cost.

Tell the applicant they will receive an email that they should open and follow the instructions to complete the tenant screening process.

Once they complete and submit their information, you will receive notification along with their score, credit history, criminal history and scoring recommendation.

Real estate agents will find this service quick and reliable. RentLaw.mysmartmove.com is powered by the TransUnion - a trusted name in the credit history industry.

How do we know it works - we are landlords, real estate agents and property managers.

Try it. There is no obligation.

Thank you,

The RentLaw.com and TenantFacts.com Tenant Screening team.

Security Deposit Guide

2011-04-19T13:04:00.000-07:00

Note: These are summaries of State Landlord Tenant Security Deposit Laws.

Detailed Security Deposit information may be found on RentLaw.com The National Landlord Tenant Guides http://www.rentlaw.com/securitydeposit.htm .

Note: GUIDELINES typically apply leases of 1 year or more. Each state may have different security deposit laws. Generally "Short Term" agreements do not apply. Short Term may be defined as Seasonal Rental (Winter, Summer, etc), student housing (semester), dormitories, hotels or rooming houses.

Before you move in, do a walk through (pictures) and note any damages and condition of the rental. The move-in list should be referred to when you leave.
When you leave the apartment (or other rental) do a walk through with the owner or property manager. Take pictures and both agree to any damages or to the condition of the rental. See our Normal Wear Tear Guide.

2010-09-11T19:54:00.000-07:00

In September, RentLaw.com announced several new Real Estate related sites including:

- SmallLandlord.com will be focused on services for the small landlord (1 - 100 units). In addition to the current Tenant Screening Services from rentlaw.mysmartmove.com, SmallLandlord.com will add more forms and features enabling the small landlord to better manage their property - whether it be one unit or 50.

- NYTenantRights.com will provide more detail and insight into NY Landlord Tenant Law with more resources for Tenants throughout New York's 62 counties.

- TenantInfo.com launches with a greater emphasis on the Tenant. With approximately 35 million tenants in the United States, there are always a few looking for a quick and speedy response to a their question. TenantInfo.com for Landlords will provide additional screening and rent collection services.

- TenantFacts.com originally introduced in 2009 will provide additional information for Tenants in a simple and easy to follow format. TenantFacts.com for Landlords will provide additional screening and rent collection services.

- NewYorkTenantRights.com - a simply tenant reference manual for New York. Easy to read and easy to follow.

RentLaw.com The National Landlord Tenant Guides began in 1998 as a resource for New Jersey Tenants. Today, RentLaw.com is one of the larger landlord tenant websites with over 40,000 members.

Bedbug Photos on RentLaw.com

2010-08-31T14:32:00.000-07:00

Bed Bugs are the little creatures that may come out at night and invade your bed or furniture - like couches or mattresses.

They seem to prefer human and other warm blooded creatures.

Now, New York has signed the Bedbug Disclosure Act. More on RentLaw.com

See what Bedbugs look like with these pictures of bedbugs on RentLaw.com .

Bed bug infestations were common in the United States before World War II. But with improvements in hygiene, and widespread use of DDT until it was banned, the bugs nearly vanished. However, they remained active outside the US. So why are bed bugs back and how can you keep your apartment, home or, if you are the landlord - your building free of problems?

Read more in Bed Bugs and Bed Bug laws atRentLaw.com. Full Article on Bed Bugs.

FREE RENT RECEIPT FORMS

2010-07-08T20:00:00.000-07:00

RentLaw.com The National Landlord Tenant Guide today announced availability on their website http:/www.rentlaw.com Free Rent Receipt Forms in pdf format.

Simply visit RentLaw.com http://www.rentlaw.com/forms/rentreceipt.htm and download the free Rent Receipt Forms.

There are 3 rent receipts per page when printed. These receipts are ideal for BOTH the Landlord and Tenant to track rent payments paid and received.

There are no membership requirements to download the Rent Receipt form nor fees to download the form.

LANDLORDS: Use the Free Rent Receipt form to record ALL monies received from the tenant as well as track the balance due. Be sure to sign and date all receipts and make a paper copy even if you are using a computerized program to track. Match your receipts to you bank deposit slips to help you track your rents received when tax time comes.

TENANTS: Use the Free Rent Receipt form to record ALL monies paid to the LANDLORD or other parties to the lease. Be sure to have the receipt signed by the landlord or their representative. Know before hand who you are giving monies to and if they are authorized to do so on behalf of the landlord.

For more information on the landlord tenant relationships, visit RentLaw.com The National Landlord Tenant Guide .

Tenant Screening For Small Landlords

2010-04-23T10:47:00.000-07:00

RentLaw.com The National Landlord Tenant Guide offers a great tenant screening solution with rentlaw.mysmartmove.com. This tenant screening tool is a product of Transunion's MySmartMove and enables small landlords (1-200) the means to run a tenant credit report online.

FREE LANDLORD ACCOUNT
There is no cost to create and setup the properties with Rentlaw.mysmartmove.com. A fee of $20 or $25 is charged only when a tenant screening report is requested.

In states where you may charge the applicant for the report, you will have an option to have the tenant billed or the landlord.

Visit Rentlaw.com for many more tips for both landlords and tenants.

For more information on tenant screening, visit http://www.rentlaw.com/tenantscreening.htm or create your free account or view the demo at http://rentlaw.mysmartmove.htm.

Bed Bugs

2009-10-21T19:11:00.000-07:00

Bed Bugs are the little creatures that may come out at night and invade your bed or furniture - like couches or mattresses.

They seem to prefer human and other warm blooded creatures.

Bed bug infestations were common in the United States before World War II. But with improvements in hygiene, and widespread use of DDT until it was banned, the bugs nearly vanished. However, they remained active outside the US. So why are bed bugs back and how can you keep your apartment, home or, if you are the landlord - your building free of problems?

Read more in Bed Bugs and Bed Bug laws at RentLaw.com. Full Article on Bed Bugs.

Late Rent Payment Fees

2009-09-28T07:44:00.000-07:00

While many states do not specifically regulate LATE FEES for LATE RENT PAYMENTS, the term REASONABLE or FAIR is often used in stating how much the late fee can be.

Some states that do regulate LATE RENT FEES may also state that a LATE FEE may not be charged until 5 or 10 days (or any number) after the due date or not until the tenant is notified, in writing, of the rent due and possibility of being charged a late fee. You may also give the tenant 3-5 days (if you choose) BEFORE you decide to charge a late fee.

If you accept late rent payments from the tenant, even with the late payment fee, you may be telling the tenant "it's ok to pay late" - this is what you
"imply" to the tenant.

While it does no good for the tenant to pay late rent, especially with the late fee, some do.

As a landlord, be sure ONCE THE FIRST PAYMENT IS RECEIVED LATE, CHARGE A LATE FEE.
Do so in a standard letter, delivered Certified Mail. Be sure your late fee clause in contained in WRITTEN LEASE and be specific WHEN and HOW MUCH the reasonable late fee will be if rent is not paid on the DUE DATE.

Often what happens when a tenant is late in paying rent, YOU as the landlord wind up becoming late on your payment for related bills, especially if your rental income does not cover your operating expenses.

Different rules may apply for Federal or State subsidized housing. Read your contracts you sign with the Federal or State Agency to understand if and how much you can charge for late rent payment fees.

Rent vs Buy

2009-08-17T13:46:00.000-07:00

RentLaw.com Rent vs Buy Guide

Should you buy or rent?

The common theory is that owning your home is cheaper then renting. True or False?

It depends on a number of factors, the most important being the cost of buying vs. the cost of renting the same or similar home. Local Market conditions determine price while your personal needs also come into play.

Common Questions to Ask Yourself:

1. How long do intend to live in the area

2. Your family status - are you single, married (with children or planning to have)

3. What is the local market conditions - for both renting and buying.

4. Why would you buy vs rent ?

5. Are you looking at it is an investment for yourself (move in, then sell in a few years)

6. Are you looking at it as an investment to buy an rent to someone else - now (and you use later) or later (and you use now)?

7. Job status- are you comfortable in your job - stability no relocation etc.

Read more on issue: Renting vs. Buying on RentLaw.com The National Landlord Tenant Guide.

Find this complete article: http://www.rentlaw.com/rentbuy.htm

Tenant Screening for Large Operators

2009-07-07T13:36:00.000-07:00

July 6, 2009- RentLaw.com The National Landlord Tenant Guide is now marketing an advanced Tenant Screening Solution for multi-family operators of over 250 units.

Currently, landlords and property managers may create a free landlord-tenant account at http://rentlaw.mysmartmove.com . This enables the property owner to submit a tenant's request for a credit report with no additional paperwork.

RentLaw.com is now offering a tenant screening solution specifically designed for large (250 units or more) in conjunction with one of the top credit providers in the country.

If you are multi-family operator with over 250 units contact us today to discuss your tenant screening requirements.

For further information, please contact:

Robert Dorfman
Director of Marketing
732-539-2914
rentlaw@gmail.com

Tenant Screening Launched on RentLaw.com

2009-03-31T12:37:00.000-07:00

March 31, 2009: RentLaw.com The National Landlord Tenant Guides announces new online Tenant Credit Verification services.

If you're a large or small landlord, you're challenged with finding the "right" tenant. You want one that pays on time and keeps the rented unit clean and causes no problem. Sounds like a simple request. You can ask for previous landlord's references and work references and hope for the best. What about a tenant's credit history, eviction data or bankruptcies? You can ask many questions on a credit application and hope they are answered truthfully. Many landlords and real estate agents aren't sure how to go about obtaining a credit report or obtaining it legally.

Here's a solution we like. The industry's first web-based rental screening solution Unlike traditional screening methods, RentLaw.mysmartmove is all online, for you and the tenant. Once you create an account, all you need to get started is your potential tenant's e-mail address.

TransUnion RentLaw.mysmartmove is designed specifically for independent rental owners and smaller property management groups. A comprehensive database of credit and criminal background information offers you the same technology used by the largest property management firms in an easy-to-use, cost-effective solution. This also provides renters with data privacy because they provide their identifying information directly to TransUnion in a secure, online environment.

Simple and transparent For the standard price of $20.00 the landlord receives:

Credit-based Leasing Recommendation/Security Deposit Recommendation
National criminal report (including 50 state sex offender and OFAC/Terrorist searches)Renter Fraud Warnings
Automated Renter Identity Verification
For an additional $5.00, the landlord may also receive:
Immediate access to a credit report (a complete report formatted for readability while still keeping the renter's personal data private)
Viewable Credit Score
Renter Fraud Warnings
Detailed Rental Address History

For more details, please see RentLaw.com or

Create a RentLaw.com.mysmartmove.com Tenant Credit Verification:

Apartment Search on RentLaw.com

2009-03-29T06:06:00.000-07:00

March 28, 2009 - RentLaw.com The National Landlord Tenant Guide introduces an Apartment Search tool at http://www.rentlaw.com/apartments/search.htm .

With the new tool, a user can simply type in the city or state they are searching for an apartment and the tool returns information on the corresponding Landlord Tenant Law , various listings and ads from Google and listings from RentLaw.com, including MyNewPlace.com , Apartments.com and local partners.

In introducing this feature, David Dorfman, Publisher of RentLaw.com, noted the goal is to further enhance and simplify a users experience by combining the apartment search results within RentLaw.com along with the corresponding Landlord Tenant Laws for that city and state.

RentLaw.com The National Landlord Tenant Guide was founded in 1998 and today is one of the largest Landlord Tenant Guides on the Internet.

Contact:

David Dorfman, Publisher
rentlaw@gmail.com

RentLaw.com Launches Tenant Screening Services

2009-02-02T07:59:00.000-08:00

February 2, 2009 - RentLaw.com The National Landlord Tenant Guide announced today they have launched a Tenant Screening Service powered by Advantage Tenant.

Designed for landlords of all sizes, the service is available online 24 hours a day / 7 days a week. In addition, customer service hours are from 8 am to 6 pm to answer questions related to the tenant credit reporting services.

To obtain a tenant credit report, go to the partner site : http://www.advantagetenant.com/rentlaw-tenant-screening.html and begin.

For more information on using tenant credit reports, visit RentLaw.com Tenant Credit Reporting Center.

David Dorfman, publisher of RentLaw.com, said today "this marks another milestone in the continued growth of RentLaw.com as this service, powered by Advantage Tenant, provides another opportunity for landlords, large and small, access to an easy to use and affordable service for tenant verification".

About RentLaw.com The National Landlord Tenant Guides - Founded in 1998 by David Dorfman, RentLaw.com today has over 40,000 members including landlords, tenants, lawyers and more.

Abour AdvantageTenant.com - Founded in 1991, Advantage Tenant is a subsidary of Advantage Credit International, is one of the largest providers of credit reporting services in the country.

Contact:
David Dorfman
Publisher
RentLaw.com
dorfman.david@gmail.com
732-539-2914

Landlord and Santa Claus

2009-01-06T11:54:00.000-08:00

Are you like me a landlord who when it comes Christmas time, start to believe you are Santa?

For me, it typically begins with the November rent.

Then by December when you go looking for rent "I'm sorry, but it's Christmas and I had to go shopping - can you wait til next week...".

Next week comes around and it's still not Christmas - the house or apartment is getting decorated and the presents get as big as the promises.

Read the complete "The Landlord as Santa" on RentLaw.com and become a better landlord today.

Tenants and Foreclosure

2008-10-28T13:33:00.000-07:00

RentLaw.com October 28, 2008 - Tenants Evicted Due To Foreclosure

Tenants are getting evicted by the courts when a lender forecloses on a property. The unsuspecting tenant pays their rent, but the landlord never pays the lender.

Are tenants being notified by the lender? Tenants must pay attention to their mail.

Read more about tenant's rights in foreclosure proceedings.

Laws vary by state and some judges, lenders and who ever else is involved in the eviction and foreclosure processes are proceeding with caution. Read more on Foreclosure and the The Tenant on RentLaw.com The National Landlord Tenant Guides.

McCain's Mortgage Bailout Plan....

2008-10-08T10:52:00.000-07:00

Before you read the summary of McCain's "American Homeownership Resurgence Plan" think of what others have gone through the past several years and maybe yourself if you had pruchased a home and struggled with high rates when you first pruchased some years ago - with 12% or 16% rates and had to refi a few times to get a "good" rate.

Many people were lead to make bad decisions. Partly because they were misled, some because they beleived that "the real estate market always goes up..." others simply did not understand the complexity of owning a home. Owning and running a household is a major business.

The brokers, lenders and other leaders are at fault for allowing easy credit terms to many buyers who really were not qualified - even if they "qualify for a mortgage". You might qualify for a mortgage, but NOT qualify to own a home and manage it.

When I went for a new loan, I experienced all kinds of craziness - and I'm experienced.

One of the biggest unexplained tactics was the "NO DOC" loan. That means more or less no documentation of your W2 or income verification REGARDLESS of the fact that I could document my self employed income, rental income and MY WIFE's income.

Also banks were using "credit scores" not to disqualify you, but to qualify you at a higher rate - for the "risk" you present based on your score.

You can sit bank and take a look at the entire appraisal process - a simple method of comparing like homes in a neighborhood that have been sold within the past year or less and a brief look at the inventory in the same area. How reliable an estimate is this and did banks fail to discount an aprraisal instead of "making the loan" or "making the numbers work" for the loan to grow through?

There are many flaws in the system.

Owning a home takes work. Lots of work.

Can you clean up people's credit card debts as well - just erase them?

Following is a summary of McCain's proposal.

John McCain unveiled a dramatic proposal Tuesday to bail out homeowners struggling to pay their mortgages.

In the second presidential debate, the Republican nominee -- who has railed against excessive government spending and once questioned whether federal money should be spent to help homeowners -- outlined a new $300-billion federal program.

McCain promised to buy failing mortgages directly from homeowners and mortgage providers and replace them with government-backed fixed-rate mortgages. "Is it expensive?" McCain asked. "Yes. But we all know, my friends, until we stabilize home values in America, we're never going to start turning around and creating jobs and fixing the economy.

"McCain's campaign issued a 1½-page fact sheet to explain his call for the massive federal intervention, which it called the American Homeownership Resurgence Plan. The campaign noted that the $700-billion financial rescue package approved by Congress last week gives the Treasury Department authority to directly buy mortgages, but added, "It may be necessary for Congress to raise the overall borrowing limit."

Treasury Secretary Henry M. Paulson has given no sign that he would spend any of the money to bail out individual lenders and borrowers. Rather, he has made it clear that he considers it the government's responsibility to assure the stability of the credit markets.

Bill Burton, a spokesman for the Obama campaign, said the idea was not a new one and noted that the Illinois senator had raised it. On Oct. 1, in a news release, Obama said he intended to "encourage Treasury to study the option of buying individual mortgages like we did successfully in the 1930s."

McCain has based his presidential bid in part on frequent calls for cuts in government spending and regulation. His housing bailout proposal was a surprise in a debate that could prove a crucial pivot as the race enters its final month.

When the mortgage crisis first ballooned, Obama offered a plan that included aggressive regulation of financial institutions, relief for homeowners and a $30-billion economic stimulus package. McCain criticized it as a "multibillion-dollar bailout for big banks and speculators" and said, "There is a tendency for liberals to seek big government programs that sock it to American taxpayers while failing to solve the very real problems we face."

fter he was criticized for downplaying the government's role in responding to the crisis, he changed course.

He proposed spending up to $10 billion for government-backed mortgages for "well-meaning, deserving homeowners" facing foreclosure.

According to the outline of McCain's newest proposal, the federal government would pay borrowers and lenders in full, regardless of how wise or fair the original transaction was. Lenders would be able to remove the bad mortgages from their balance sheets, and borrowers would be able to refinance into government-guaranteed loans.

Mortgage holders would have to prove they lived in the home and had good credit at the time of the original loan. This approach has been largely rejected by both Democrats and Republicans because it would be likely to reward the kind of bad lending and borrowing practices that caused the housing crisis while doing little to help stretched but conscientious homeowners.

By contrast, the housing bill passed by Congress over the summer, and which went into effect Oct. 1, required lenders to take a loss by writing down the principal on troubled mortgages to 85% of the house's current value. Borrowers with adequate incomes and credit records would then qualify for refinanced mortgages from new lenders.

Government funds were used only to help finance mortgage insurance for the new loans; cost estimate for taxpayers was roughly $20 billion.

Will Ferrell in THE LANDLORD

2008-08-07T13:36:00.000-07:00

The Landlord is a short hilarious video clip (Running Time: 2 minutes 20 seconds ) starring Will Ferrell and Pearl, the daughter of his SNL pal and Adam McKay.

Will Ferrell appears as the tenant from hell who is accosted for his rent by a drunk, angry and crazy bad mouthed landlord – who happens to be 2 years old.

The clip has been viewed millions of times since being originally posted on Funnordie.com. It was the brainchild of Ferrell and his longtime collaborator Adam McKay, director and co-writer of Anchorman: The Legend of Ron Burgundy and Talladega Nights: The Ballad of Ricky Bobby.

It's funny if you either a landlord or tenant.

I guess I should say funny if you're not the landlord, as I am and publisher of RentLaw.com. I should know better and have been tougher with my tenants. I think I could use this kid to collect my rent.

The Landlord HAS to be tough and not nice like me. That's why I have two tenants that owe me over $10k each - about 6 months of rent. Landlords - remember - 90% of the time - tomorrow tomorrow.....

Take a lesson from this video. But be nice.

Send your tenants a letter and contact them when the rent is due.

To reinforce your position, charge late fees as permitted by your state law and begin eviction proceedings if needed - immediately.

See the clip from The Landlord on RentLaw.com.

Be a good landlord and a good tenant.

Breaking the Lease Agreement

2008-08-06T13:22:00.000-07:00

There are many different reasons why a tenant may have to break a lease.

These include job transfers, change in martial or family status, health issues or they either want to upsize or downsize for one reason or another.

There is NO law that says that the tenant cannot break their lease. HOWEVER, by law and by the lease contact, the tenant may be financially obligated to the landlord for rent and other charges to rerent.

READ YOUR LEASE BEFORE you sign it AND UNDERSTAND what you are signing. BEFORE you decide to move out and break the lease, READ YOUR LEASE and see what you may be responsible for.

TYPICALLY, once you notify the landlord you intend to move before your lease is due to expire, BOTH you and the landlord must make good faith efforts to find a new tenant. This is called mitigating damages (lessen the amount the tenant owes). The landlord must make an honest (good faith) attempt to rerent your unit using such things as a sign on the property, ads in local paper, contacting one or more real estate agents etc.

The Landlord should document everything they do in their attempt to rerent the unit - typically at the RENT THE CURRENT TENANT IS PAYING.

Read the complete article on BREAKING A LEASE on RentLaw.com - The National Landlord Tenant Guide.

Subletting an Apartment

2008-07-29T16:57:00.000-07:00

New York - July 28, 2008 RentLaw.com The National Landlord Tenant Guide announced today they have published a guide to SUBLETTING an APARTMENT .

The RentLaw.com Guide to Apartment Sublets provides information for both Tenants and Landlords on the Sublet process.

The guide coverages what to look out for when arranging the sublet and how protect yourself as the the tenant, landlord and sublet.

David Dorfman, Publisher of RentLaw.com said "Tenants have different reasons for subletting such as a temporary business assignment, caring for a sick relative out of town or the tenant who figures they can make money off their favorable lease." Whatever the reason, the tenant should always get advanced agreement in writing from the landlord.

Some states have specific laws regarding subletting. Be aware of these laws and note illegally subletting your apartment may result in evictions of the original tenant and the sublet. For example, see New York State Law on Subletting.

Learn more about Landlord Tenant Issues and Subletting on RentLaw.com - The National Landlord Tenant Guides.

See the RentLaw.com Guide to Subletting for more information on this important topic.

Pet Deposit Laws and Pet Friendly Housing

2008-05-08T13:12:00.000-07:00

New York City, May 8, 2008: RentLaw.com The National Landlord Tenant Guide announced today a Guide to PETS in Rental Housing and Laws.

RentLaw.com's Guide to Pets in Rental Housing provides information for landlords and pet-owning tenants.

Topics covered include: finding a pet-friendly rental, "PET" Security Deposits, security deposits in general, how to be a good pet-owning tenant, how to search for a pet friendly apartment and more.

The guide also discusses moving with your pet, The Humane Society, ASPCA and many other animal friendly organizations. David Dorfman, Publisher of RentLaw.com said "There is a large group of people who own pets and need to rent. Many landlords simply do not want to have a tenant with a pet for a number of reason." The site indicates several reasons - loud animals, smells might impact other tenants, damages caused by pets.

Dorfman noted there are an increasing number of complexes that advertise themselves as "pet-friendly" That includes hotels and motels that cater to pet owners.

What about "pet-security deposits"? Dorfman said that many states have regulating "pet deposits". The deposits range from zero (landlord has to use regular security deposit) to unlimited. (One additional month security could be considered standard in many states. See your state law list on RentLaw.com.

Learn more about Landlord Tenant Issues and Pet Laws and Pet Deposits on RentLaw.com - The National Landlord Tenant Guides.

Foreclosure Guides

2008-01-04T13:23:00.001-08:00

New York City, January 4, 2007: RentLaw.com The National Landlord Tenant Guide announced today an expanded version of their Guide to Foreclosure.

RentLaw.com Guide to Foreclosure provides general information on the Foreclosure process and tips on how to Avoid Foreclosure. The guide also covers Foreclosure Scams where a borrower may end up in even further trouble.

David Dorfman, Publisher of RentLaw.com said "The number of homeowners and landlords that are in trouble continues to grow - impacting renters as well." Dorfman noted that tenants often receive eviction notices from a mortgage company or other lender. It is never clear what a tenant is supposed to do. Often times a tenant may had received a "great" rent - only to find out that the owner never paid his mortgage or taxes on the property. Many times, these homes were rented out as a last resort by an investor who thought they would close on the purchase and flip the property or flip the contract. In most areas, said Dorfman, those times are gone.

Learn more about Landlord Tenant Issues and Real Estate Investing on RentLaw.com - The National Landlord Tenant Guides.
See the RentLaw.com Guide to Foreclosure for more information.

For further information, see RentLaw.com http://www.rentlaw.com

Foreclosure Guides

2008-01-04T13:23:00.000-08:00

RentLaw.com en Espanol

2007-11-08T21:17:00.000-08:00

New York City, November 7, 2007: RentLaw.com The National Landlord Tenant Guide announced today a Spanish version of the leading landlord tenant web site.

RentLaw.com En Espanol will provide information for landlords and tenants in Spanish. Most major cities and towns already produce forms and guides in Spanish. RentLaw.com will provide an easy access point as well as contain additional guides in Spanish.

David Dorfman, Publisher of RentLaw.com said "There is a strong demand in the Spanish speaking market for legal information, especially on housing issues. RentLaw.com will serve that market."

For further information, see RentLaw.com http://www.rentlaw.com

RentLaw.com to Track Housing Stocks

2007-09-27T12:19:00.000-07:00

RentLaw.com The National Landlord Tenant Guide said today, September 27, 2007 that they will be tracking stocks in US Home Builders.

"In addition to the typical law related questions, we have always discussed investments in single family and multi-family housing", said David Dorfman, publisher. "This is just another way of looking at investing in Real Estate, by investing in the companies that build the housing."

Other areas of note on RentLaw.com are good for investors as well, their guide to 1031 Exchange, Tax Deductions for Landlords and Real Estate Agents and more - all on RentLaw.com.

The stock market in general is very interesting. When these stocks in these companies trade at less then 60-70% of their 52 week high or all time highs, it's time for us to take a closer look.

For more information on Real Estate Stocks see our new feature with much more to come.

Countrywide Mortgage Corp

2007-08-21T14:50:00.000-07:00

August 21, 2007 - So countrywide had to call an $11 BILLION credit line.

Surprised?

Not really. After attempting to refinance my house over the past few months, it seems every smaller bank and mortgage broker, when asked where are you sending my mortgage application, they all replied, "Countrywide". The backup, as they referred to it, was Wells Fargo.

I felt like calling up these brokers and aksing them today, who they are sending these apps to?

Countrywide, when I called them directly (I figured why pay a mortgage broker), and applied offered me a loan. However, when I declined the 7.25 offer as being HIGH, the rude person repsonded "WHAT WITH YOUR CREDIT SCORE, YOU'LL NEVER GET A LOAN...".

All I can say is I hope this person in their Houston call center has lost their job.

And I did get my loan. Locally.

So to all those banks and mortage brokers that jammed people through at Countrywide....

Good Luck.

NJM Insurance - Getting Cancelled

2007-08-14T12:59:00.000-07:00

August 14, 2007 - This is somewhat off topic for RentLaw.com, but here it goes.

My auto insurance policy has been cancelled by New Jersey Manufacturers Insurance Company (NJM). Yes, I bounced a check, but I also assumed my automatic payment would be accepted.

I have been a GOOD customer of NJM since 1994. Time flies. So for 13 years they loved me. I paid, never had a claim - until 2005. That year, my licence plate hit the rear of a new Rav4. $536 in damage. Not bad.

Also in 2005, my wife decided to rear end another car in her s500. NO damage to the other car. Not even a claim filed by the other driver. However. that 5 MPH hit in a $95,000 car cost over $8,000 to repair.

Lastly, in 2005, I went 12 miles over the speed limit - 37 in a 25.

Shoot me.

I paid late. I pay late.

I was 4 days past my cancellation date notice before I remembered to call.

So I call NJM to get reinstated or find out why they didn't take my automatic payment.

I asked to get reinstated.

They made it sound like I was the worst person in the world.

We sent you letters.

You should be responsible.

You do not qualify for NJM.

BUT, they will let me go into NJM Reinsurance - at 3 times the rate (10,700 yr vs $3400 per yr). Funny.

For 13 years I WAS good.

I also added my daughter to my policy at age 17.

Now, after 13 years of paying them (3 times late), I am a BIG risk.

I was told to go find a broker to handle my needs.

I did.

Back over to ALLSTATE, the new ALLSTATE where I began driving some 30 years ago.

My next step is to take my homeowners policy from NJM and place it with ALLSTATE.

The moral is to be responsible. Don't ignore late notices, pay your bills on time (auto debit) and always shop for rates and, more importantly, SERVICE.

Customer Service.

That goes along way.

Not, hey, we have 700,000 policyholders, you think we have to call?

I'd would of been happy with a call from overseas telling me my policy is past due.

Mortgage Center at RentLaw.com

2007-08-09T12:31:00.000-07:00

August 9, 2007. RentLaw.com, The National Landlord Tenant Guide today announced an updated Guide to Mortgages.

In making the announcement, RentLaw.com publisher David Dorfman said "we want to inform our readers about mortgages in a clear and concise manner". Dorfman continued, " I am just about done with a refinance on my home and I can't tell you what I went through. I thought it would be a simple process and I relied on "friends" who were mortgage brokers. I finally wound up at a larger, but local, bank who quickly took the app and processed it, in person. There was intelligence in making the loan decision."

Dorfman said the on-going goal at RentLaw.com is to simplify the Real Estate transaction. "There are just many, many chances for errors or misunderstanding" said Dorfman. "It's an ugly process with all the forms, the tensions, and fear of buying or selling a home". On Mortgages and Credit, Dorfman said "today, with the mortgage market the way it is due to the lax lending practices, lenders have once again gotten tougher. In his opinion and experience, Dorfman believes this has enabled the lenders or brokers to abuse people based on their credit score. Abuse by way of charging a higher rate for questionable credit scores. "

For more information on Mortgages, Home Equity and Credit, please visit Rentlaw.com at these sites:

Mortgages
Home Equity
Credit

Learn more today at Rentlaw.com - The National Landlord Tenant Guides.

Rent Control

2007-08-08T10:18:00.000-07:00

New York, New York - August 2007: Rentlaw.com - The National Landlord Tenant Guides. Guide to Rent Control introduced by Rentlaw.com

Rent control refers to laws or ordinances that set price controls on the renting of residential housing. It functions as a rental price ceiling on residential rental property.

The Purpose of Rent Control - It is necessary to prevent landlords from imposing rent increases that force key-workers or vulnerable people to leave an area. Maintaining a supply of affordable housing is essential to sustaining an economy. Homeowners who support rent control point to the neighborhood instability caused by high or frequent rent increases and the effect on schools, youth groups, and community organizations when tenants move more frequently. To build a community, there must be stability.

Landlords - No Rent Control! - Rent control is criticized for creating a shortage of housing, reducing its quality, deterring investment and raising the price of unaffected rental units. If a price is artificially kept low, there will be higher demand for the low price housing, assuming it is habitable. When demand outpaces supply, there is a shortage.......

Read the complete guide to Rent Control on Rentlaw.com - The National Landlord Tenant Guides

About Rentlaw.com - The National Landlord Tenant Guide. Rentlaw.com is a National Landlord Tenant Guide whose guides are utilized by Attorneys, Landlords, Tenants, Real Estate Agents, Investors and anyone involved in Real Estate. Founded in 1998 by Real Estate Investor David Dorfman, Rentlaw.com today is a top destination for Landlord Tenant Law and additional services in the United States. Rentlaw.com continues it growth by adding more information while enhancing the overall web experience for users.Rentlaw.com is headquartered in Neptune, New Jersey.
For more information, visit www.rentlaw.com.

Security Deposits

2007-08-07T13:02:00.000-07:00

August 2007: Rentlaw.com - The National Landlord Tenant Guides.

It's coming that time of year again when there are many, many people moving. Summer is coming to an end and so are those summer rentals, families are moving, and there is a whole new group of college bound students.

Rentlaw.com publisher David Dorfman stated "this time of year we see a higher nunmber of complaints from tenants that their summer landlords are not returning their security deposits or holding an excessive amount. At Rentlaw.com we receive a number of inquires from college bound students whose off-campus housing landlord's may be requesting an excessive deposit". Dorfman continued, "The purpose of Rentlaw.com is to ensure all rental issues are known between landlord and tenant".

Most, if not all states have limits and what can be held for a security deposits and how soon a landlord must return the deposit or notice of damages.

If the Landlord Won't Return the Security Deposit?
Did your landlord not send you your security deposit or a list of deductions within the number of days required by your state law?

Do you believe your landlord wrongfully kept all or part of your deposit?
Do you want to get all or part of your deposit back? If so you can write a demand letter seeking return of the deposit. You should also be able to sue the landlord in Small Claims Court (see state guides for details on proper court for your filing.

Preventative Steps to Take to Ensure a Deposit Return: A tenant must meet all of the above conditions to ensure a refund of the deposit, but meeting those conditions is not all the tenant should do.

The chances of receiving return of the deposit will be increased if the following suggestions are also followed:
Move-in Inventory Inspection. When you move in your home or apartment, make a list and take photos of the apartment and any damage. Typically, you should do a walk through with the owner or manager prior to moving in. Get them to sign an acknowledgement of the damage and note what (if anything) will be done. This will help you when you move out.Move-Out Notice. A lease may require that the tenant give the landlord 30 days written notice prior to move-out in order to get the security deposit back. Even if the lease does not require it, notify the landlord prior to moving.Move-out Inventory Inspection. When the tenant prepares to move, the apartment or home should be cleaned and the landlord asked to appear for a move out inspection. The tenant should fill out another inventory form, similar to the move-in inventory. Ideally, you should have a copy of the original move in form - for both your use and the landlord.Turn in the Keys. The keys should be turned in on the exact day the tenant vacates the premises. If the keys are turned in later, the landlord may be able to charge the tenant additional rent or other charges under the lease. A tenant's actual move out date is often considered to be when the keys are turned in.

What Can the Landlord Deduct from the Security Deposit? A landlord cannot legally deduct for normal wear and tear. This refers to deterioration which occurs during regular, daily, intended use of the rental unit, for example nail holes in the walls from pictures or paintings. See our guide.

Deductions from the Security Deposit: If the landlord makes any deductions from the deposit, a written, itemized accounting of how much is being charged for each item must be sent to the tenant. If the landlord fails to provide such an accounting within 30 days after the tenant moves out, the landlord may forfeit the right to withhold any part of the deposit. Furthermore, the deductions taken from the deposit must be for actual damages suffered by the landlord.

How to Dispute Deposit Deductions: If a tenant receives a list of deductions, it is possible to dispute items on that list. The deductions should be addressed by the tenant in a letter sent to the landlord. The demand letter should include a response to each of the deductions, explaining which charges are being disputed and why. The tenant should keep a copy of the letter and send the original by certified mail, return receipt requested.If the tenant receives a partial refund along with the list of deductions and wants to dispute some or all of the deductions, the tenant may want to refrain from cashing the check. If the tenant must cash the check then the tenant should tell the landlord in the letter that even though the check has been cashed, it does not mean the tenant agrees with the amount of the check.

Normal Wear and Tear and Damage: The landlord can use the security deposit to repair damage for which the tenant is responsible. But the landlord cannot apply the security deposit to normal wear and tear.

For more on your state's security deposit law, visit the Security Deposit guide at Rentlaw.com - The National Landlord Tenant Guides.

Mold Guide introduced by Rentlaw.com - National Landlord Tenant Guide

2007-08-03T11:02:00.000-07:00

Rentlaw.com introduces Mold Guide
Guide to Mold Basics and Mold Cleanup

New York, New York., August 3, 2007 - Rentlaw.com the National Landlord Tenant Guide announced today that it has introduced a free online Guide to Mold.

The new guide enables the reader to get a good understanding of what mold is and methods to handle it once discovered.

"The RentLaw.com team has added another feature that complements Rentlaw.com's mission to organize useful information for landlord and tenants and make it universally accessible and useful," said David Dorfman, Publisher of Rentlaw.com. "Our membership of over 100,000 constantly asks us to add more and more information, so we must continue to grow beyond just Real Estate Law. We always put our users first and are committed to innovating to improve their experience. Many, many tenants and homeowners are impacted by mold and it often is an issue in landlord - tenant disputes. This guide is a first step"

About Rentlaw.com - The National Landlord Tenant Guide. Rentlaw.com is a National Landlord Tenant Guide whose guides are utilized by Attorneys, Landlords, Tenants, Real Estate Agents, Investors and anyone involved in Real Estate. Founded in 1998 by Real Estate Investor David Dorfman, Rentlaw.com today is a top destination for Landlord Tenant Law and additional services in the United States. Rentlaw.com continues it growth by adding more information while enhancing the overall web experience for users.

Rentlaw.com is headquartered in Neptune, New Jersey.

For more information, visit www.rentlaw.com.

Real Estate Lawyer Directory

2007-07-17T14:33:00.000-07:00

Rentlaw.com The National Landlord Tenant Guide has announced that are introducing a new Real Estate Lawyer Directory.

"Rentlaw.com was established in 1998", said publisher David Dorfman, "the interest in Real Estate continues to grow. We find more and more people are coming to Rentlaw.com need to be represented and look to us as a reliable source of information."

Rentlaw.com will be accepting applications for the Real Estate Lawyer Directory which will be introduced October 1, 2007.

Interested parties should email or phone Rentlaw.com for more information. Pricing has not been finalized, but Dorfman indicated that it will be less then $10 per month for an attorney. Group Practice rates will be available as well.

Landlord Responsibilities

2007-07-11T09:13:00.000-07:00

Landlord responsibilities on Landlord rights are more or less the same for every state.

In general, the landlord has a RIGHT to receive rent on time according to the terms of the rental agreement.

The Landlord is responsible for providing a safe and habitable rental unit for the tenant.

While most landlords (large and small) take pride in ownership and like to maintain value, there are always some who just want their rent and collect, skipping the on-going maintenance.

Read the entire entry Landlord's Responsibilities at Rentlaw.com

A tenant has rights and responsibilities. They can be viewed here.

Tenant's Responsibilities

2007-07-10T13:30:00.000-07:00

As a Tenant, you do have responsibilities. The biggest responsibility of the tenant is to abide by the terms of the lease agreement. The number one issue landlords face is rent collection. The tenant must pay their rent on time.

Here is a checklist of some tenant responsibilities. As a landlord, I can tell you other then paying your rent on time, please take care of the unit you are renting - keep it clean, don't leave garbage around the exterior and respect the neighbors.

Pay the rent on time. Failure to pay rent on time may result in late fees or the basis for eviction.

Keep the apartment and the surrounding area clean and in good condition.

Maintain the smoke detector, fire extinguisher and carbon monoxide detector. While the landlord is responsible in most state for providing these, in most states the tenant is responsible for maintaining them This means not removing them and replacing the batteries at minimum yearly.

Use common sense and good manners.

Read the rest of Tenant Responsibilities at Rentlaw.com - The National Landlord Tenant Guides.

To find out about what a landlord is repsonsible, read Landlord Responsibilities

Homeowners Insurance

2007-07-10T11:51:00.000-07:00

Homeowner's Insurance ,while not required in most states, is always required if you have a mortgage on a property. The bank (mortgage company) wants to protect their loan on your property.

Should your property be destroyed, the bank would collect on the money it is owed (the loan) and you would receive the difference, if one existed.

In Rentlaw.com's Guide to Homeowner's insurance, the writer describes the benefits of homeowners insurance.

When you take out a homewoner's policy, do ont pruchase to littel or to much. The bank will require that you at least cover their loan amount. We recommend you coiver for full replacement value. In most cases, you would get another policy or rider for contents.

For more information see the Rentlaw.com Guide to Homeowner's Insurance

Real Estate Glossary

2007-07-10T11:39:00.000-07:00

Rentlaw.com - The National Landlord Guide has rolled out a revised Real Estate Glossary.

In making the announcement, publisher David Dorfman noted that the Rentlaw.com team is continuing to move ahead to provide additonal services and features on the leading landlord tenant site.

"Our subscriber base continues to increase and we are expanding our offerings which deliver at no charge", noted Dorfman.

In the comming months, Rentlaw.com will be adding a library of forms for use in the real estate field, most will be free to download.

Visit the Rentlaw.com Real Estate Glossary

Applying for a Mortgage

2007-07-09T14:02:00.000-07:00

When was the last time you applied for a mortgage or are you about to?

Watch out.

As publisher of Rentlaw.com, the National Landlord Guide, you just might think I know all the tricks and traps of the morgtage game. Guess what. I don't.

I've been on this journey to refinance my home I purchased in 1985 for $183,000 and invested about that same amount into doubling the size of it.

Today, according to three independent appraisers hired by various banks, the home is worth a bit over $1 million and I owe $420,000. So what's the problem? It looks like I have around $580,000 in equity, right?

SCENARIO:

ALL I WANT TO DO IS BORROW EITHER THE SAME AMOUNT ($420,00) or "CASH OUT" an additional $200,000 for a total loan of $620,000 against $1 millon. (62%). This would retire my Home Equity Loan at 8% and lower muy obligation by $2800 per month, running it out to a 30 year fixed rate term.

"No problem, we want to business".

PROBLEMS:

1. YOUR CREDIT SCRORE IS LOW.

Question: A 650 is low?

Ok, so I once was late last year for $13.00 (yes thirteen dollars) on my discover card because I thought I didn't owe that amount to finance charges. WRONG. LATE PAYMENT SHOWED UP ON CREDIT REPORT.

You'd think the world came to an end.

Then there is a couple late payments to Mercedes, but a couple days late. BANG.

2. APPRAISAL. Even though your appraisal came in at over $1 millon, another appraiser hired by the lender shows it to be $675,000. This a couple days before the closing. (Company: Wells Fargo )

So being "in the business" I took the time to send comparables that were more comparable to the ones they used (theirs being 5 miles WEST of my home, 1 mile to the ocean...). Time goes by and they still can't decide on a "fair market value..."

Then they are still trying to chnage my request for a simple 30 year fixed rate to those of various adjustable rate mortages, ballon terms etc. Every trick in the book to get a higher return on their end, again using my "lousy" credit score of 650.

THE APPLICATION

My wife works. I work. I have rental property. Seven income producing properties. Over $3.0 million in equity. I want to improve cash flow and LOWER my monthly payment by $2800 per month. HELP! HELP! What is wrong? Shoot me for hustling.

THE MORTGAGE BROKERS

All try their hardest, but seem to run to the same lender with your application. Seems like some lenders, in this case Country Wide (lender 2), must treat the referring brokers pretty good.

SKIP THE BROKER

So I call CountryWide (countrywide.com) directly. I give the agent all my information, then he calls me back and quoted me a rate of 7.125. I told him to "let me think about it because it sounds high". That was last week (July 6, 2007).

So today, July 9, as I was about to write a story about our Real Estate Glossary, I received a call from "Greg" from Countrywide. I siad I thought I did, what was the rate you're quoting me. Again, he told me 7.125 PLUS 1.75 points. I told him it was to high, but thank you.

His repsonse, which prompted this blog entry, was "HIGH, WITH YOUR CREDIT SCRORE...". Given the tone of his voice all I can say is I am glad I decided NOT TO GO WITH COUNTRYWIDE HOME LOANS. My guess in that call center in Houston, they must also double as bill collectors.

Going direct to the lender, in this case, seemed to be a waste of time and results i another "inquiry" on my credit report.

"Look at all those inquires" the next bank will say.

It's a conspriacy by banks to keep you from shopping for the BEST RATE.

Watch your credit scrore, it can ruin your life.

Here's my tips:

Set up an automatic payment with every credit card you have (if you can't get rid of them). At least pay double your current minimum balance. That will keep you form ever having a late payment on your credit card.

If you are disputing an amount, make the payment and dispute it. (unless it's for thousands of dollars). Even small missed payments (like $10) could show as late on a credit report and some knuckle head will try to bring you down for it.

So to Wells Fargo and Countrywide Home Loans, I am still in the market to refinance my Home Equity Loan and you can both kiss my rear.

I earned what I have and I am proud of 650 +/- credit score.

If you can't understand NET EQUITY, oh well. If you can't honor a committment, oh well.

Back to our REAL ESTATE GLOSSARY

Other references:

Rentlaw.com Credit Guide
Rentlaw.com Mortage Guides

New York City Rent Increases Approved

2007-06-27T09:14:00.000-07:00

June 26, 2007 Rentlaw.com: More than 1 million New Yorkers who live in a rent-stabilized apartment, you'll soon be paying more in rent.

The Rent Guidelines Board voted Tuesday night to grant another round of rent increases.

The Rent Guidelines Board voted 5-4 to raise the rent to more than 1 million rent stabilized apartments across the city.

Rents go up 3 percent for apartments on a one-year lease and 5.75 percent for apartments where the lease is two years.

The outcome was the same as in the past, as one would expect. Rents were set too high for renters and too low for landlords.

Last year, the landlords received an increase of 7.75 percent for two-year leases and 4.75 percent for one-year leases.

Read the rest of this article on Rentlaw.com - The National Landlord Tenant Guide

Military Lease Clause

2007-06-27T08:10:00.000-07:00

The Military Clause
With a normal lease, your landlord is under no obligation to let you break your lease just because you have received new orders. When you enter into a lease agreement, be sure your lease has a military clause in it.

Your local base housing office should be able to provide you a form containing the clause or even a form contract you may be able to provide to your landlord. Many housing offices work local landlords.

Several states have laws which allow military members to break their leases in the event they must move due to military orders. In those states which do not have such laws, it is important that the active duty member ensure his/her lease contains a "military clause," (see example at end of article) which allows the member to terminate the lease in the event he/she must move due to military orders. Most bases require service members to have leases approved by the local military housing office. One of the reasons for this is to ensure that the lease contains an acceptable "military clause."

Read the rest of this article

Commercial Real Terms 2.0

2007-06-21T13:15:00.000-07:00

New York City, June 21, 2007:
Rentlaw.com The National Landlord Tenant Guide announced today an updated Commercial Real Estate Glossary has been introduced.

David Dorfman, Publisher, stated that the update "covers everything from A-Z in Commercial Real Estate". From Abatement to Zoning ordinance, you can find it all on Rentlaw.com.

Dorfman first introduced Rentlaw.com in 1999. "We've come a long, long way." Rentlaw.com has always been free and our membership went from a few friends to over 100,000 at one point.

We began addressing the commercial real estate market at the request of our members and other vistors. There are many "small" landlords who have either moved up to larger properties or how have continued to buy 1-4 family homes. As such, their tax situations have changed and require more information.

We continue to add information on 1031 exchanges, Real Estate Investment Trusts and more. The world of real estate is full of knowledge.

Dorfman said, "You simply can't learn enough". You can talk to Donald Trump with his empire or the local deli owner who might own 1 or 30 rentals. You can learn from both.

"My advice", says Dorfman, "is to talk the real estate business and learn everyday."

Learn from everyone.

Section 8 - Housing Voucher

2007-06-21T13:12:00.000-07:00

We complain about paying high taxes whether it be property, sales, or income tax. Some of that money makes it way back to helping those in need in one form or another.

We talk about money going to help the “developing” nations – such as in Africa or even Russia and China. We must realize, however , that right her in the United States, people are poor – extremely poor. Some people cannot just simply “escape” their environment due to circumstances beyond their control.

The purpose of many federal and state programs is to assist those less fortunate. Many programs come and go. One of the most basic and hardest requirements to fulfill is that of housing for the poor.

Public Housing Projects (1940 – 1960) were an idea whereby cities and states would build Public Housing “Projects” for the poor. While the idea was correct – it did not go far enough to “mainstream” (up and coming word) the poor (socially and economically) into another world. We simply lumped a group of economically disadvantaged people into one, new, government built section of a city – keeping them separate from the rest of the city socially.

Learn more about Section 8 and Housing Voucher Programs at:
Rentlaw.com's Guide to Section 8 Housing

Targeting Landlords using Google Earth/Maps - Belmar NJ

2007-06-20T18:11:00.000-07:00

The New Jersey Shore town of Belmar New Jersey has launched a website called Belmarrentals411.com.

The purpose of this site is to inform the residents and renters of the variance rules and regulations for renting a home in the borough.

For years, the town was mostly a summer destination for many. Small bungalows, great beaches and bars were to be found. Over the past several years, with shore home and land prices increasing, the town has been evolving. Those little bungalows have been razed for 3 story homes. The number of rental units went from around 1000 units to 320. The goal of the administration was to upgrade the image of the town by ridding itself of he summer renters or rowdies.

The amusement center was sold. With it, minigolf. In it's place, several multimillion dollar homes.

Mcdonalds on the boardwalk left after its lease ended.

Don't get this wrong.Belmar is still a fun town. You jsut have to be a good renter.

Following is a response to the website that appeared in the local paper, the Asbury Park Press.

The Belmar Rental 411.com Web site does nothing but further prove that Belmar is using public funds to contribute to a pattern of segregation between homeowners and landlords who rent their homes to summer renters.

It amazes me that Belmar, which in 2001 was fined $14,000 in New Jersey Superior Court for violating the federal Fair Housing Act, continues to push the envelope with its Rental 411.com Web site hosted on our municipal Web site using taxpayer dollars.

Attorneys general throughout the United States have been fighting housing segregation for years, but it is now OK for a public entity to violate property owners' civil rights.

If you're only a landlord/taxpayer and rent your home out in the summer, you're now added to a special Belmar Web site list. All the other property owners in Belmar won't make it.

The Web site allows anyone to zoom in on a satellite picture of the borough's 320 summer rental homes to a street-level view of selected homes. Those viewing the site can click on the selected homes earmarked with a color and a window opens up displaying: the property owner's name, property location, number of noise violations, picture of the landlord's property and amount of bond that has been posted due to violations. Some pictures are of the homeowner's garbage cans, etc.

The Rental 411 Web site is reminiscent of how Hitler's Germany would most likely have segregated its population using today's technology. The site further assigns the rentals into colors and characterizations: the cop with the night stick (very bad), red (bad), yellow (close to bad) and blue ( good).

Absent from the Rental 411 Web site are things that people in Belmar would really like to see. Maybe orange could be used to flag the properties where drugs have been found or where a recent arrest was made. Black could flag a list of properties where sex offenders are living, and gray a list of wife beaters' homes. Maybe a passport image could be placed over the homes where illegal immigrants are known to be living, since they tax the schools with their children. Purple could flag the restaurants where the Board of Health found violations.

Brown could flag properties of year-round homeowners who rake their leaves in the street. Bright green could flag the public officials' homes, who are paid high salaries to think of Web sites such as this one. A beer bottle character with a rose could be used to flag all the bars in town that have been given sweet deals instead of closure. Foreign flags could be set up to identify the Irish, Italians and every other nationality. Maybe a new deadbeat character could be designed to designate the homes and property owners who owe the town back taxes, water bills or are deadbeat dads.

Where will it end? Once a pattern of segregation is supported by your local government, you and every citizen of the United States are the ones who are impacted and at risk. It's only time before you make the next list of segregation.

Lastly, just how new is the information on the Rental 411's site? I was astonished to see the home of a friend, Robert Sullivan, a veteran Jersey City police officer, on the red or bad list. Especially, since he has not rented his home in more than two years and died in the spring of 2006.

Not only is segregation going on in Belmar, but there is a lack of respect for its citizens who have met the supreme commander after years of public service.

Kevin J. Devine

BELMAR

Landlord Tax Deductions

2007-06-14T16:22:00.000-07:00

Are you one of the many landlords who fail to take advantage of all the tax deductions available for owners of rental property? Do you keep poor records or rush to the accountant at the last minute? You could save money each year by being more diligent in your record keeping.
Do you know, or does your accountant tell you or ask you about your rental property expenses. Most accountants, or if you file your own return, overlook many deductions.

Rental real estate provides more tax benefits than almost any other investment.

A REAL ESTATE PROFESSIONAL may be able to deduct over $25,000. Read more here....

Small landlords have many tax deductions available to them - if you actively manage your property and your adjusted gross income is within IRS guidelines. Combined expenses can total $25,000. Losses over that can be carried ahead to the next tax reporting year.

COMMON LANDLORD TAX DEDUCTIONS

NOTE: ASK YOUR ACCOUNTANT WHICH SOFTWARE THEY USE. YOU MAY BE ABLE TO BUY THE SAME SOFTWARE OR COMPATIBLE FOR REPORTING PURPOSES. YOUR ACCOUNTANT MAY BE ABLE TO HELP YOU SET THIS UP.

1. Interest: Mortgage Interest for the investment property. Other interest from Credit Cards related to the Rental Activity. It is a good record keeping practice to have both personal and business credit cards (for the rental business).

2. Advertising: If you advertise your rental for rent, those costs are deductible.

3. Depreciation. Residential rental property must be depreciated over 27.5 years. For example, if you pay $200,000 for a home, you expense each year is $7272 per year. It is a "paper loss" that shields your income. A typical homeowner does not have this available to them. IF YOU OCCUPY 1/2 or any portion of the home, you deduction is reduced by the proportion you occupy (in a 2 family, 50% to you, 50% to the investment)

4. Professional Fees: The costs you pay to an attorney for eviction, a management company, engineer, CPA etc are deductible as they relate to the rental.

5. Home office: You can deduct a home office or workshop used to manage your rental property. Your garage may be storage for your tractor to cut the grass or to hold furnishings you supply. Certain requirements must be met, but are standard.

6. Insurance: Your costs to insure the rental property are deductible. ALSO, depending on how you structure your rental business, you may decide to cover your life and medical insurance as part of the rental business. Where medical insurance is not deductible when you work (and pay ) for medical insurance, structuring your rental property as a Limited Liability Company (LLC) may permit you to deduct these costs for you and your family. CONSULT YOUR TAX ADVISOR.

7. Auto: Your auto expenses are deductible as they relate to your rental business. You may travel back and forth collecting rent, looking at the house , doing yard work etc. Keep records. You may also elect to determine that a portion of the auto is related to the rental activity, the rest personal use - 25% rental activity and 75% personal use, as an example. The expenses are then deducted as to this ratio. You can deduct ordinary and necessary auto and travel expenses related to your rental activities, including 50% of meal expenses incurred while traveling away from home. You generally can either deduct your actual expenses or take the standard mileage rate. You must use actual expenses if you used more than four vehicles simultaneously in your rental activities (as in fleet operations). You cannot use actual expenses for a leased vehicle if you previously used the standard mileage rate for that vehicle. Consult your tax advisor.

In addition you may also incur charges for:

Cleaning and maintenance
Commissions
Repairs
Supplies
Travel
Taxes
Utilities
Private mortgage insurance (PMI)
Landscaping, Snow Removal, Trash Removal
Amounts paid to employees or independent contractors
Condo fees

Private Mortgage Insurance (PMI) by RentLaw.com

2007-06-13T13:00:00.000-07:00

If you are a homeowner, you will want to be aware of a new law that establishes rights for homeowners and rules for lenders regarding private mortgage insurance (PMI) cancellation. With this knowledge, you may eliminate premiums you may be paying unnecessarily.

What is Private Mortgage Insurance (PMI)
PMI is extra insurance that lenders require from most homebuyers who obtain loans that are more than 80 percent of their new home's value. In other words, buyers with less than a 20 percent down payment are normally required to pay PMI.

Canceling PMI : Once the principal is reduced to 80% of value, the LMI is no longer required. This can occur via the principal being paid down, home value appreciation, or both. Under HPA (Homeowner's Protection Act of 1998), you have the right to request cancellation of PMI when you pay down your mortgage to the point that it equals 80 percent of the original purchase price or appraised value of your home at the time the loan was obtained, whichever is less.

For more information on Private Mortgage Insurance, read the rest of the article in Rentlaw.com.

REIT Guide by Rentlaw.com

2007-03-20T14:47:00.000-07:00

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

Rentlaw.com - FOR SALE? !

2007-03-16T12:41:00.000-07:00

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.

Evictions by Rentlaw.com

2007-03-15T12:07:00.000-07:00

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.

###

Smoke Alarms

2007-02-19T10:26:00.000-08:00

SMOKE DETECTORS SAVE LIVES

Our lead topic for our February 2007 newsletter is the result of a press release on SMOKE DETECTORS received from the International Association of Fire Chiefs which begins:
The International Association of Fire Chiefs is pleading with the media to help us inform the public of the high number of house fires with fatalities that have occurred since the beginning of February. “We have lost too many people in home fires in the last two weeks,” said President Chief Jim Harmes. “Last night, six were killed in a house fire in Louisiana, two in house fires in Tennessee and one in my own community in Grand Blanc, Michigan. It is mid-February('07) and by media reports, 59 people in the U.S. have perished in house fires in 17 states since the beginning of this month. We have got to do something,” said Harmes.

Right before this email, a resident a few miles down the road was critically burned in an early morning fire. The Heroics of a neighbor (with a fire extinguisher) and the fire department have, so far, saved this person's life.

Click on the link to Rentlaw.com Guide to Smoke Detectors for more on this subject.

Thank you.

Bad Landlords in Federal Housing

2006-09-07T19:44:00.000-07:00

Hundreds of landlords have been fined and/or debarred from doing business with the federal government as a result of failing to provide safe and decent housing for the poor, while enriching themselves on taxpayer-funded subsidies.

Tenants have been forced to live in terrible housing, and neighborhoods have suffered from housing eyesores.
HUD calls this a double crime--one against tenants as well as taxpayers.

At Rentlaw.com, we strongly believe that both the landlord and tenant are responsible for maintaining the home. Every tenant, whether subsidized or not, should take care of their space or home. The landlord must provide general care of the overall property.

To report a bad landlord call toll-free1-800-685-8470 / TTY 1-800-432-2209.

Renter's Insurance

2006-08-27T18:48:00.000-07:00

Renters Insurance - Apartment, Rented House, Condo or Co-op. Protect yourself.

Renters Insurance policies are designed to indemnify (cover your loss) you in the event of a covered loss to your personal property and protect you in the event you are responsible for bodily injury or property damage to others. It is available for apartments, rented house, condo, co-ops, dormitories, and roommate arrangements. An estimated 75% of Renters do not have coverage.
More landlords are requiring Renters Insurance as a condition to rent.

·Renters Insurance

·Homeowner's Insurance Fact Guide

Suppose you have visitors to your apartment and someone slips on a wet kitchen floor and breaks an arm? Who is responsible for the medical costs? In most circumstances you.

Renters insurance in general provides "named peril" coverage, meaning the policy states specifically what you are insured against. Some named perils include Fire or Lightning, Smoke, Vandalism or Malicious Mischief, Theft, Accidental Discharge of Water and 10 or more others.

Liability coverage also includes Medical Payments coverage, which applies to nonresidents of the insured premises. This coverage pays for the actual medical expenses incurred up to the limit for a non-resident guest.

Always read the contract for specific explanations of coverage and exclusions.

Your Insurance Quote - Tip Click for your free quote.

When getting an insurance quote on your rental, condo or home, consider asking for a quote on an auto policy as well. Often the insurer offers a discount if you carry all your policies with the same company. Free Quotes from qualified agents. Start Here

Renters Insurance Costs

You might think you don't need Renters Insurance if you rent, but think again! Add up the cost of your furniture, your electronic equipment, your CD collection, computer, garments and other personal property. Can you afford to replace everything in the event of a fire or burglary? Renters Insurance is relatively inexpensive. The average cost of renter's insurance begins about $12 a month for around $30,000 worth of property coverage and $100,000 worth of liability coverage.

Rates vary depending on coverage and your location and the amount you want to cover.

Click for your free quote.

Landlord is Responsible, right?

Many renters are under the impression that their landlord's policy covers their belongings as well. Unfortunately that's not the case, and they often don't find that out until the worst possible time, after a disaster or a robbery. Your landlord's policy doesn't cover anything that's yours. The only exception to this would be if the loss was caused by negligence on the part of your landlord, and then you would still have to prove it in court. That is where Renters Insurance comes in.

Complete our simple, quick form to receive FREE Renters Insurance quotes so you can compare a number of renter insurance companies and plans to find the policy that gives you the best value for your money. You'll also have the unbiased information you need, like how a company rates in the business world, so you can feel safe with your decision.

If you're ready to find out more Click here for the quick Renters Insurance Quote form. See more on Rentlaw.com.

Landlords can also get more information or quotes on Landlord Insurance Policies.

Thank you.

The Rentlaw.com Team.

Originally published by Rentlaw.com October 2003.

Rentlaw.com

2006-08-27T18:29:00.000-07:00

Rentlaw.com - The National Landlord Tenant Guides August 2006.

We're winding up this quarter with a whole new group of members - landlords, tenants and the rest who are interested in real estate - either as a first time homebuyer or investor.

For those of you have read our past articles on investing in real estate, you will note that our view of the rush to invest in new development projects (condos, housing developments etc) has come to a screeching halt - leaving some investgors and more so, home builders, scrabmling to "get out".

As my dad always said - "who could afford that...".

The individual wealth in on our country, and more so, those of investors from outside the US, created this mini-run on the price of real estate around the country.

Many well intentioned development projects as well as small town communities, were "attacked" by real estate investors looking for a quikc flip. Many were succesful, but at what cost?

Those impacted were and are the poor and the middle class. The poor, forced out by rising real estate prices when investors sell out of the original investment - either brining in new investors (and higher rents), second home buyers or the first time home buyer (a good thing).

When these investors sell, many will exchange the property, called a 1031 exchange, for a new investment property - usually more expensive then the previous. This in turns creates a demand for investment properties, contributing to the rise in real estate prices.