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.
Tuesday, July 29, 2008
Thursday, May 08, 2008
Pet Deposit Laws and Pet Friendly Housing
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.
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.
Friday, January 04, 2008
Foreclosure Guides
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
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
Thursday, November 08, 2007
RentLaw.com en Espanol
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 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
Thursday, September 27, 2007
RentLaw.com to Track Housing Stocks
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.
"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.
Tuesday, August 21, 2007
Countrywide Mortgage Corp
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.
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.
Tuesday, August 14, 2007
NJM Insurance - Getting Cancelled
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.
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.
Thursday, August 09, 2007
Mortgage Center at RentLaw.com
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.
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.
Wednesday, August 08, 2007
Rent Control
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.
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.
Tuesday, August 07, 2007
Security Deposits
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.
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.
Friday, August 03, 2007
Mold Guide introduced by Rentlaw.com - National Landlord Tenant Guide
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.
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.
Tuesday, July 17, 2007
Real Estate Lawyer Directory
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.
"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.
Wednesday, July 11, 2007
Landlord Responsibilities
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.
Tuesday, July 10, 2007
Tenant's Responsibilities
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
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
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
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
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
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
Monday, July 09, 2007
Applying for a Mortgage
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
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
Wednesday, June 27, 2007
New York City Rent Increases Approved
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
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
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
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
Subscribe to:
Posts (Atom)