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A Verbal Agreement is Not Worth the Paper It's Written On - 01/25/11 10:49 PM
There is the old story about men of integrity who did business with just a handshake. That's fine and dandy, but by contrast, why are there so many silly love songs? I guess the point, as obvious as it is, has not been made quite clear yet. Because language is imperfect, and at times is impressionistic, a well-written contact can help avoid misunderstanding, assumptions, gaps in meaning. I highly recommend the standard forms used by licensed real estate professionals. Each numbered line represents someone else's painful learning curve and will help the current user avoid the pitfalls of miscommunication. As an (7 comments)
Limitation of Liability for Arizona Residential Landlords? - 01/24/11 09:00 PM
Residential landlords in Arizona owe certain duties to their tenants, which cannot be delegated or alleviated even if both parties agree to it in writing. The state legislature has made the following terms invalid if they are included in a residential lease: 1. In which a tenant is required to waive or to forego rights or remedies for the landlord to maintain the rental property, to provide access to utilities or to waive rights of access; 2. In which a tenant is required to agree to pay the landlord's attorney fees, except an agreement in writing may provide that (3 comments)
Landord Evictions of Residential Tenants - 01/22/11 12:01 AM
A Residential Landlord Can Evict a Tenant for Violating the Lease Agreement: A. Not paying rent 1. If a tenant does not pay rent when it is due, the landlord may give written notice explaining how much rent and late fees the tenant owes demanding payment within five (5) days. 2. If the rent is not paid within five days, a landlord may terminate the lease by filing an eviction action. Even so, the tenant has the right to reinstate their rental agreement anytime up to the judge signing the judgment by paying the unpaid rent and any late (3 comments)
Arizona law regarding "notice" to residential landlords - 01/20/11 12:04 AM
Arizona law requires all owners of residential rental property to register their contact information for the property with the County Assessor, or the property may not be legally leased to tenants, and may be subject to statutory penalties. If a residential landlord is not a resident of this state he may designate an agent who is a resident with a physical address present in the state upon whom service of process may be made in this state. The designation shall also be filed with the secretary of state. If no designation is made and filed or if process cannot be served (2 comments)
New Rules Require Rental Property Owners to Issue 1099s - 01/19/11 11:34 PM
New Rules Require Rental Property Owners to Issue 1099s Landlords who receive rental income from tenants must start reporting payments made to vendors which exceed $600 a year. In July 2010 Congress enacted Small Business Jobs Act which was designed to encourage small business spending. However, the Act contained one provision that may have escaped the notice of taxpayers who own rental property, but will affect them starting in January 2011. Under the provisions of the Act, owners of property who receive rental income will be required to issue Forms 1099 to service providers for payments of $600 or more (1 comments)
How Did I Celebrate MLK Day? - 01/19/11 12:09 AM
I sat in protest at a lunch counter with several other fat, middle-aged, white men and nobody noticed. (1 comments)
Paying Rent and Accepting Partial Payments, Non-Waiver Agreements - 01/17/11 11:47 PM
Tenants must pay their rent in full and on time. Inability to pay rent because of job loss, financial hardship, or medical problems will not stop an eviction. If a tenant is having a problem paying rent on time, and try talking with the landlord first. The landlord may be willing to work with the tenant regarding payments; however, the tenant is still responsible for paying all of the rent owed. The landlord is not required to give a tenant more time or make special payment arrangements with the tenant in the case of financial hardship. Practice tip: A landlord does (4 comments)
Residential Tenants Remedies for Their Landlord's Failure to Maintain the Rental Property - 01/16/11 07:25 PM
If a residential landlord intentionally or negligently fails to provide essential services such as running water, gas, electricity heat or air conditioning or shuts off running water, gas, electric service, heat or air conditioning, the the tenant should give the landlord written notice describing the problems and request immediate restoration. If the landlord fails to comply in a timely manner the tenant may do one of the following: a. Subtract the cost of obtaining reasonable services from the next rent payment. For example, if the tenant has to buy water because there is no running water, the tenant should save (0 comments)
A residential landlord can recover a rental property from a tenant in one of three ways. 1. Surrender. The tenant vacates voluntarily and returns possession of the keys. 2. Abandonment. A residential rental property shall be determined to be "abandoned" if a tenant fails to respond after five days from the time the landlord shall post a notice of abandonment on the door to the rental property or any other conspicuous place on the property and send the tenant a copy of the abandonment by certified mail, return receipt requested, addressed to the tenant's last known address and to (5 comments)
The Duties of Landlords and Tenants to Maintain Residential Property - 01/15/11 01:37 AM
Arizona law requires that residential landlords maintain the rental property by doing the following: 1. Meet the requirements of local building and health codes regarding the condition of your home; 2. Make repairs necessary to keep the home in a fit and livable condition; 3. Keep shared areas, such as hallways and playgrounds, clean and in a safe condition; 4. Keep all the electrical, plumbing, sanitary, heating, ventilating, air conditioning, and other facilities and appliances that are supplied by the landlord, in safe and working order; 5. Provide and maintain containers for the removal of trash and provide for the removal (0 comments)
Better Safe if Sued....Good, Better and Best Practice Tips for Residential Landlords. - 01/13/11 11:25 PM
As a residential landlord or real estate professional serving the residential rental market, remember this maxim: if a picture's worth a thousand words--video is priceless. Since 1996 Arizona law has required residential landlords to provide new tenants upon move a signed copy of the lease, a move-in form for specifying any existing damages to the dwelling unit and written notification to the tenant that the tenant may be present at the move-out inspection. A good rental agreement will include the move-in form as an addendum and include language in which the tenant acknowledges receiving the form and requirement for it to (1 comments)
Basic Facts About the Fair Housing Act - 01/13/11 12:05 AM
From the HUD information pamphlet, "Fair Housing--It's Your Right" we learn the following basic facts about the Fair Housing Act The Fair Housing Act covers most housing. However it exempts owner-occupied buildings with no more than four units, single-family housing sold or rented without the use of a broker, and housing operated by organizations and private clubs that limit occupancy to members. In the Sale and Rental of Housing: No one may take any of the following actions based on race, color, national origin, religion, sex, familial status or handicap: Refuse to rent or sell housing Refuse to negotiate for housing (2 comments)
Early Termination of a Residetial Lease Due to Domestic Violence - 01/12/11 12:28 AM
A tenant of a residential lease governed by the Arizona Residential Landlord and Tenant Act may terminate a lease agreement early if he/she is a survivor of domestic violence and he/she is trying to move due to a recent act of violence. To terminate the lease because of domestic violence, the tenant must give the landlord written notice within thirty (30) days following a domestic violence incident. If the survivor of domestic violence waits more than 30 days, he/she may only break the lease if the landlord is willing to waive this time limit. The written notice must state that the (3 comments)
Notice to residential landlords and tenants under Arizona law - 01/10/11 11:31 PM
Arizona has four different statutory schemes that govern landlord and tenant relationships. The determination of which statutory scheme applies depends on the nature of the property being rented. If the property is a home, condo, or apartment it will generally governed by the Arizona Residential Landlord and Tenants Act., ARS Section 33-1301, et. seq. If the property is the residential space occupied by a manufactured home that is 600 square feet or greater, it will generally be governed by the Arizona Mobile Home Parks Residential Landlord and Tenants Act, ARS Section 33-1401 et seq. If the property will be occupied by (0 comments)
My eleven year-old daughter wanted a turntable for Christmas - 01/09/11 11:52 PM
My eleven year-old daughter wanted a turntable for Christmas. I am not sure what inspired this desire. I haven't owned a working record player for years before she was born. With the death of Tower Records I even stopped buying CDs and stepped fully into the iPod age acquiring nearly all new music in the form of digital downloads from the iTunes store. While I wasn't spinning records, we were listening to an extensive musical library. As a kid I was #5 of 6 kids and I was introduced to the Beatles and the British Invasion through my oldest sister who (2 comments)
Arizona law requires residential landlords to register their property with the county assessor or face the consequnces. - 01/08/11 10:25 PM
Arizona law requires all owners of residential rental property to register certain information relating to the property and its ownership with the County Assessor even if the property is occupied by immediate family members. If the property is owned by an individual or persons, the name, address and telephone number of the property owners must be disclosed. Out-of-state owners must designate a statutory agent who lives in Arizona who will accept legal service on behalf of the owner. Whether organized in Arizona or elsewhere, a corporation, limited liability company, partnership, limited partnership, trust or real estate investment trust must not only (1 comments)
Pool Barriers - 01/08/11 12:04 AM
In 1991, Arizona passed the pool barrier law, Arizona Revised Statutes (A.R.S.) § 33-1681, requiring an enclosure surrounding the pool area. The law allows cities and counties to adopt their own ordinances, "...provided that the ordinance is equal to or more stringent than the provisions of this article." Ordinances vary widely between cities and counties; homeowners and buyers need to research the laws carefully to make sure their home is in compliance. Tickets for pool barrier violations can vary from hundreds to thousands of dollars. Fences or walls must be at least five feet high with openings no more than four (1 comments)
Former Arizona Property Flipping Practices Potentially Trumped by Recent New Federal Laws - 01/07/11 12:07 AM
Before Arizona's real estate market blasted out of control and entered the the current, painful market correction, investors could snatch up reasonably priced residential properties and turn a quick profit by flipping it a short time later by riding the crest of inflating real estate prices. While that combination of rapid price escalation and fast profit may likely be a thing of the past, savvy investors can take advantage of the present depressed real estate market. Because the current market is saturated with an over supply of residential properties for sale, causing real estate values to tumble, it is still possible (5 comments)
The Ins and Outs of Security Deposits for Arizona Residential Landlords and Tenants - 01/06/11 01:04 AM
The Arizona Residential Landlord and Tenants Act governs a landlord's use of security deposits. A landlord cannot require or receive security deposits, however denominated (cleaning, or pet deposits) including prepaid rent in an amount or value greater than 150% of one month's rent. However, a tenant may voluntarily paying more than one and one-half month's rent in advance. The law will not guess the intention of the parties to a residential lease as to whether a deposit is refundable or non-refundable. The purpose of all nonrefundable fees or deposits must be stated in writing by the landlord, and any fee or (4 comments)
Arizona Landlords: New Laws Require Mandatory Written Disclosure of Pending Foreclosures - 01/04/11 10:42 PM
In 2010 the Arizona Legislature amended the Arizona Residential Landlord and Tenant Act to include a new law designed to provide residential tenants with notice and protection in cases where a landlord has leased a property heading into foreclosure. Arizona Revised Statute 33-1331 was added to require, if a rental agreement is entered into after the foreclosure action was initiated, the landlord must provide the tenant with written disclosure of the pending foreclosure and providing the tenant with the contact information of the attorney or firm handling the foreclosure, and the time, date and place for the sale of the property. (2 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.