Rss Feed
Tweeter button
Facebook button
Technorati button
Reddit button
Myspace button
Linkedin button
Webonews button
Delicious button
Digg button
Flickr button
Understanding the distinction can help you choose the arrangement that best fits your life stage.

Rental agreements are ideal for someone who needs temporary shelter during a transitional time. As a landlord, I often field questions from tenants whose life plans don’t fit neatly into 12-month leasing cycles.

The tenant might be in town for a six-month internship or a nine-month certificate program. She might be waiting for a work transfer to another city, but she’s not sure when she’ll need to move. Or he might be in the middle of house-hunting: He needs to live somewhere until he’s ready to buy, but he doesn’t want the commitment of a full year.

Rental agreements are ideal for someone who needs temporary shelter during a transitional time. Generally, I prefer 12-month leases. But depending on the overall market demand at the moment (in other words, how easily could I find a tenant willing to sign a 12-month lease?), I’ll sometimes allow a prospective tenant to get on a month-to-month rental agreement.   What’s the difference? A lease gives the tenant the right to live in a dwelling for a fixed time period — usually 12 months,but it could be any length of time ranging from three months to 24-plus months.  Through a lease, the landlord and tenant mutually agree to fixed terms and conditions, such as the rent, rules regarding pets, duration of the agreement, etc. Neither party can change the agreement without written consent from the other. The lease is mutually beneficial. A tenant can’t stop paying rent or vacate the property during the lease term — this is a violation of the agreement. Likewise, the landlord can’t arbitrarily force the tenant to move. If my sister moves to town, for instance, I can’t evict one of my tenants for the sake of giving that space to a family member. The tenant has secured it with a lease. My hands are tied. A Rental agreement, by contrast, is a month-to-month agreement. At the end of each 30-day period, the landlord and tenant are both free to change the terms. The landlord can raise the rent, decide to offer the space to someone else or enact a “no-pet” policy. Likewise, the tenant can decide to pack her bags and move elsewhere. Rental agreements usually renew automatically at the end of each 30-day period unless either party gives the other “proper notice,” as defined by the terms of the agreement and by local laws (for example, 30 days’ notice, 60 days’ notice, etc.). Rental agreements give both parties the freedom to enjoy a month-to-month living arrangement. A tenant can enjoy the freedom of living somewhere for only one or two months. Likewise, a landlord might only need tenant occupancy for a few months before starting renovations in the springtime. One caveat: Every state, county and municipality has different laws governing leases and rental agreements. Some localities carry “rent control” laws; others don’t. Some localities allow each party to give the other 30 days’ notice during a month-to-month arrangement; others require more advance warning. A lease offers more long-term security to both parties. A rental agreement offers more flexibility. Leases are great for tenants who want to establish a “home.” Rental agreements are ideal for someone who needs temporary shelter during a transitional time

9 Questions Your Rental Property Tenants are Going to Ask!

Frequently Asked Questions Tenants searching for their perfect rental home are coming to the table armed with questions to ensure that their living experience meets the expectations created by your rental property advertisement. Be prepared for their questions, or consider proactively addressing some of them during your interview process. Below are 9 questions to expect: Can I make changes to the rental home and will there be costs involved? Tenants often want to paint walls, hang pictures and make the house their home. Clearly identify what you will do for them, what expenses will be their own, and what cannot be done. Are any utilities or services covered in the cost of the rent? When creating a budget for living expenses, this is a critical expense to factor in. Help your prospective tenants by being clear about the costs. How are utilities factored? If utilities aren’t included, explain upfront how the fees are determined. Also, consider sharing the cost history of the gas, electric, water, etc… so there aren’t any surprises. How do you handle emergency repairs? No one wants to deal with a power outage at midnight on a Monday, but it’s an issue that has to be handled ASAP. Share your emergency process with your tenants. Under what circumstance would you enter my rental home without notice? Inform your tenant of your process for notice prior to entering the home, whether it’s a minor air filter change, smoke detector check, or replacing an appliance. Can I sublet the rental home? In the event that your tenant needs to move out before their lease is up, they may ask if subletting is the only way to avoid breaking the lease. Are there plans to make any updates to the property? If improvements are being made, then tenants may have to deal with construction. Be sure and explain how updates could add to the amenities, enjoyment and appeal of your rental home. Under what circumstances would you not refund my security deposit? Be specific with your rules regarding the deposit and explain that the move out condition of the home should be similar to its condition during move in. What kinds of safety precautions are taken for the rental home? Your tenant’s safety should be a top concern. Take security seriously and be open and honest about the measures that are in place to give them peace of mind. Be sure to provide your tenants answers to all of their questions before signing a lease. This will help ensure a great living experience and hopefully a long-term renter

5 secrets to maximize profits on rental homes

Call Richard for more information 404-919-7545

Call Richard for more information 404-919-7545

Landlording ain't easy but it's necessary RealtyTrac reported that the percentage of all-cash buyers has soared in the past year, with 42.7% of all U.S. residential property sales in the first quarter all-cash purchases, up from 37.8% in the previous quarter and up from 19.1% in the first quarter of 2013. (This is the highest level since RealtyTrac began tracking all-cash purchases in the first quarter of 2011.)Individual and small investors are a big swathe of homebuyers these days, moving in and buying up homes with cash even as the institutional investors are taking flight. Meanwhile, institutional investors are walking away from housing. Institutional investors — entities that have purchased at least 10 properties in a calendar year — accounted for 5.6% of all U.S. residential sales in the first quarter, down from 6.8% in the fourth quarter of 2013 and down from 7% in the first quarter of 2013 to the lowest level since the first quarter of 2012. So who are these cash buyers? “Strict lending standards combined with low inventory continue to give the advantage to investors and other cash buyers in this housing market,” said Daren Blomquist, vice president at RealtyTrac. “The good news is that as institutional investors pull back their purchasing in many markets across the country, there is still strong demand from other cash buyers — including individual investors, second-home buyers and even owner-occupant buyers — to fill the vacuum of demand left by institutional investors.” So to help out those newly minted landlords and the mom-and-pop operations that are growing, here are five ways to maximize your returns on rental housing, courtesy BiggerPockets blog. 1) Decrease vacancy even if it means cutting your rent Maximize profits by minimizing vacancy sounds obvious, but the strategies to do it are not easy. Every month of vacancy costs you 8.3% of your potential yearly revenue, so you would be better off renting every property one month faster for 5% less rent, two months faster for 10% less rent, and so on. I once had a vacancy problem that cost me almost six months in rent. By my calculations above, I would have made out much better if I had lowered rents by 30% and found a good tenant immediately! Of course, I was not expecting such a problem in the beginning. 2) Minimize turnover The price of rent is not the only factor involved in tenant retention. The other key that is in your control is customer service. Whether you personally manage your properties or have a property manager, make sure that your tenants are treated with respect and professionalism, their concerns are valued, and matters are dealt with urgently and to their satisfaction. A good tenant/landlord relationship keeps tenants from thinking about moving. 3) Increase rent, strategically Once you have acquired a tenant, there is a cost for them to move. If the value of their current rental is significantly better than the value of a new rental plus the cost of moving, you still have the upper hand. Make sure that you know the rents in the area, researching sites such as Zillow, rentometer, Craigslist, and the MLS if you have access. You may find that there is plenty of room to increase your revenue a small percentage each year (1-3%) while remaining competitive, and there is no reason to give this up. 4) Be prompt about late fees Showing kindness and respect to your tenants does not mean being a pushover when it comes to rent collection and late fees. Collections are not the most enjoyable part of being a landlord, but are an essential part of running a profitable business. Make sure that your tenants understand that this is a business, they have signed a contract, and it is your job to complete this transaction, following the contract and all applicable laws 5) Add revenue streams If you are particularly entrepreneurial, you may even find additional revenue streams in your SFRs. An idea that I have had is to offer house cleaning and landscaping services to my tenants at the time they sign the lease. These are responsibilities that they have per the lease and may not be excited about taking on. Basically, you become a one stop shop for taking care of their home. You can negotiate the rates of independent landscaping and cleaning services, contract them out, and collect a fee as the contractor. For instance, if a cleaner agrees on a $75/month fee, you may offer the service to your tenant for $85/month, increasing your annual revenue by $120. Richard Simpson Office  404-919-7545 Direct Line:     404-788-4420 e-Mail: partnerwithrichardnow@gmail.com My web site:  http://rsimpson-404-919-7545.info/   Please LIKE my FaceBook page at:  http://on.fb.me/NnLTSE Join our Investment club: http://HOUSEjerk.org/rsimpson

No Income verification private investor hard money loan

Hard money loan

Your Source for true hard money loans

Georgia's Source For True Hard Money Loans

GEORGIA

What Is Hard Money Lending?

WHAT IS HARD MONEY LENDING?  Hard money (private money) lenders are commercial real estate lending companies offering a specialized type of real-estate backed loan. Hard money lenders provide short-term loans (also called a bridge loan) that provide funding based on the value of real estate that has been collateralized for the loan. Hard money lenders typically have higher interest rates than banks (between 11 and 16%) (65% LTV) because they fund deals that do not conform to bank standards.
 

WE ARE CURRENTLY ACCEPTING GEOERGIA HARD MONEY LOAN REQUESTS ONLY AT THIS TIME

Please note that we are currently accepting Georgia hard money loan requests at this time.

No Gimmicks, No Games, No Doc Loans!

SUBMIT YOUR LOAN DIRECT!

 

We are a direct source of money for those looking for Private Money loans in the Southeast U.S.  We work closely with a silent group of non-soliciting private money real estate investors that depend on us to review and screen incoming loan submissions so it reaches the proper lender.

Call Richard now at 404-919-7545 or like my Face Book page at http://on.fb.me/NnLTSE

 Visit my web site: http://rsimpson-404-919-7545.info/

We Specialize In All Non-Flagged Properties

* Residential Rehab Lending * Commercial Bridge Lending * Lending on Vacant Land * Full Doc, Light Doc, No Doc Options * Investor, Broker, Borrower and Realtor Friendly! * 1 loan or bundle multiple properties! * We are Hard Money Jumbo Loan Pro's! * Close in your personal or LLC name * Answers within 24-48 hours!

We Are Looking For The Following Property Types To Lend On:

Other Real Estate Parking Garage Raw / Vacant Land Regional Malls Residential Development Restaurant Retail Development Retail - general Self Storage Facilities Senior Housing Single Tenant Offices Ski Resorts Strip with Anchor Strip without Anchor Student Housing Taverns / Bars Time Share Underlying Cooperative Mortgage Warehouse - general

Also, UNIQUE PROPERTY TYPES

WE TURN NOTHING DOWN!  

We are a direct source of money for those looking for Private Money loans in the Southeast U.S.  We work closely with a silent group of non-soliciting private money real estate investors that depend on us to review and screen incoming loan submissions so it reaches the proper lender.

Call Richard now at 404-919-7545 or like my Face Book page at  http://www.atlantacommercialsaleshelp.com

 Visit my web site: http://rsimpson-404-919-7545.info/

NO credit check required for a NO DOC SFR investor loan

  NO Doc INVESTOR Loan- Purchase or refinance SFR.
  • No credit check and no credit reporting
  • No income verification
  • No asset verification
  • Fix and Flip Program – 6 months Interest only NEW - Buy and Hold Program – 10 year term - 5 year fixed term fully amortize available
We are a lender providing small balance loans from $20,000-$100,000 in 34 states for real estate investors who need fast, dependable funding. Highlights of our program: Loan amounts - $20,000-$100,000 for both Purchase and Cash Out refinances Loan to Value- 65% of purchase price on purchases, 50% LTV of appraised value on cash out refinances No prepayment penalty on any of our loan products 1-4 unit residential properties only We DO NOT- check credit, income/assets or do employment verification Questions? Call: Richard Simpson T-404-919-7545 C-404-788-4420

Here are 6 things that you cannot recover in life

Here are 6 things that you cannot recover in life:   (1) The Stone...............after it's thrown.   (2) The Word...............after it's said.   (3) The Occasion...........after it's missed.   (4) The Time...............after it's gone.   (5) Today..................after it's done.   (6) Opportunity............after it's around the corner. These things are lost forever. When you work with any of the above things listed, you must be very careful. Nothing ever returns to its former position . Nnot totally. There is always something that is different, no matter how small. You have to spend your time wisely, or lose it. You must learn how to spend the time you have as wisely as possible. Even while you are asleep, it is the wisest person that develops time in such a way that your purpose continues even when you retire for the night, or maybe while you sit in a movie theater. Multiples of individuals have mastered the art of developing a method of "hands-off" income generation, which means the business runs even when you "aren't on the job" in front of your computer. In almost every case, it is a work from home program that is built from an idea, or maybe to copy the idea of one already available. Now That's An Opportunity! Copying the successful is not just a good idea, it's almost brilliant. Copy the very successful professionals, do what they do without reinventing their methods and ways. When you know how, it is much easier and it works. Remember; don't make this a "lost opportunity"... Take Action!  Email  ThisBlogThis!Share to TwitterShare to Facebook                                 If you found this article to be of value, Please support this blog with a donation of $5.