landlords: For Sale Or For Rent?
- 09/13/10 06:22 PM
Homeowners who relocate or move up to another home often wonder whether to sell or to rent the old one. Here are 2 questions to ask: I. Do you making money if you sell your home? First thing you need to consider is whether you are making profit from the selling of your home or not. If you are making profit, you may need to look into the tax aspect. If you live in the same house for the past 5 years, each spouse can claim up to $250,000 profit tax free or $500,000 for both of you. For each year … (2 comments)
landlords: Cash For Appliances
- 04/22/10 11:39 PM
Good news for new home buyers! California Energy Commission allocated $35.2 million for the new appliances rebate program begins April 22, 2010. Three residential appliance categories were selected to be eligible to receive rebates: Clothes washers - rebate $100 Refrigerators - rebate $200 Window air conditioners - rebate $50. To get the rebate, all you need to do is to purchase an eligible appliances from platinum retailers such as Best Buy, Home Depot or Lowe's, have the retailer recycle your old one and fill out the rebate form. Visit California Cash For Appliances for more information. … (1 comments)
landlords: How To Collect Rent On Rental Properties?
- 02/10/10 08:06 AM
With the development of Internet and on-line banking, landlords have more options to collect rent from tenants besides the traditional mailing of the rent checks. Here are 3 possible ways for landlords to collect rent: Option I: Traditional Mail Tenant mails a check to the landlord. It is best if landlord's bank do not provide on-line banking service or you do not have the ability to check balance on line. Option II: Bank Deposit By giving landlord's bank name and account number to the tenant, tenant can write a check payable to the landlord and make a deposit into landlord's account … (1 comments)
landlords: Over Saturated Rental Market
- 11/10/09 06:21 AM
Have you notice a lot of for rent signs on the street lately? Why are we having so many houses for rent this time of the year? Here are the 3 main reasons: 1. Investors move into the rental market: Since there are a lot of bargain buys of bank owned and short sale properties, investors are moving into the market to secure good deals and rent them out. 2. Quality renters make purchases: Quality renters with good credit and enough savings for down payment are buying now creating large quantities of available rentals. 3. Holiday seasons: Traditionally, very few people … (0 comments)
landlords: What If Tenant Is Not Paying The Last Month Rent?
- 03/09/09 06:36 AM
According to the lease agreement, tenant can not use the deposit as the last month rent. If tenant insists on not paying for the last month rent and ask the landlord to deduct the last month rent from the deposit, you will need to start the eviction process. Depending on the amount of deposit and level of damage to the property, on the worst scenario, you will probably need all the deposit to fix the damages. If you allow tenant to use the deposit for the last month rent, you may end up suing tenant for the damage in small … (5 comments)
landlords: Can Not Use Security Deposit As Last Month Rent
- 01/14/09 07:17 AM
In California, tenant can not use the security deposit in lieu of the last month rent. If landlord did not receive the last month rent after tenant gives a 30-day move out notice, landlord need to contact tenant immediately to collect the rent or serve the "3-Day Notice To Pay Rent Or Quit" notice. Security deposit will be refunded within 21 days after tenant moves out. Tenant shall not expect early refund of the deposit at the time of move out inspection. If you are looking for an experienced agent to help renting your home, please call Caroline at (626) 922-8408. … (4 comments)
landlords: Are You Paying Too Much Property Tax?
- 12/10/08 12:33 AM
The recent pullback in market price gives homeowners an opportunity to ease their property tax squeeze if the property was purchased after 2003. The deadline for filing "Decline-In-Value Reassessment Application (Prop. 8) is 12/31/08. Here a quick outline on how to lower your property tax: 1. Contact me to get comps on the similar houses that was sold from January 1st to March 31. Those are the acceptable comps for the County Assessors to reassess the value of your property. 2. If the value of the comps are lower than your assessed value, file an application with county assessor. Here's the … (2 comments)
landlords: Rentals with Strong Color Decor
- 12/03/08 11:32 AM
It is always very challenging to rent a house that has red, orange, yellow, green, blue, lilac or pink wall or carpet. It will take an extra one to two months to rent those properties and most likely at the lower than market rate. Here's the reason why. Let say if a rental has red wall. Since about 50% of prospected renters will like it and the other cannot stand it, the color will eliminate 50% of the suitable renters. Thus doubling the length of time in securing a qualified renter. Also, the strong color of the property will probably post … (0 comments)
landlords: Why Hire An Agent To Rent Your House?
- 12/02/08 04:08 AM
Here are some general reasons for using agents as a means to procuring tenants: 1. Interviewing prospected tenants can be very frightening especially for new landlords. Agents do this as a matter of course and can generally ascertain a lot more information by experience and asking the right questions. 2. No upfront fee until the house is rented. Agents handle all the initial transactions including property showings, collecting applications, pull out credit reports, verify employment, prepare lease and disclosures and collecting first month rent and deposits in cashier's check. 3. Agents constantly advertising in the newspapers and internet and have more … (3 comments)
landlords: How Much To Charge On Security Deposit?
- 11/29/08 02:37 AM
Legal maximum amount of security deposit that can be charged by a landlord in California is two months rent. In reality, deposit amount is charged ranging from $300 to $500 by apartment complexes and up to 2 months by private landlords. Due to the current market situation, most landlords lower their deposit amount to entice suitable renters to rent their properties. In today's market, about 90% of landlords charge approximately one month rent for deposit. For other landlords who charge 1.5 months to 2 months deposit will encounter difficulties renting their properties for not being able to compete against majority of … (4 comments)
landlords: Rent Drops 10% to 20% In One Year
- 11/27/08 08:55 AM
This winter, the market is over saturated with rental properties with 5 times more inventory than last year. As a result of that, the market rent drops from 10% to 20% depending on the area. The followings are two main reasons why we are experience such a rapid surge of rental inventories. 1. Due to the rapid housing price decline in the past year, a lot of sellers decided to rent their houses out instead of selling them. By doing so, it creates a huge number of rental inventories. 2. A lot of renters with good credit who sold their houses … (4 comments)
landlords: Rental In Clean Move-in Condition
- 11/18/08 11:33 AM
Rental is like a long-term hotel for renters. It is very important that the landlords understand this and run it like a hotel business by making sure the property is in clean and move-in condition. It is very difficult to rent a dirty house if the house needs a new coat of paint, house cleaning and carpet cleaning. With a dirty house, landlord will end up doing a lot of showings with no application to rent the house. If they finally get an application to rent the house, most likely are the ones other landlords will not consider with bad credit … (0 comments)
landlords: Rental Property Modernization
- 10/26/08 01:24 PM
When travel, do you prefer a hotel with 80's decor or a renovated hotel with modernized theme? Undoubtedly, most travelers prefer a newly renovated one. This is why we often see hotels spend multi-million dollars on renovation to entice visitors to stay at their properties. Rental properties are like long term hotels. Giving a choice, renters prefer properties with modernized upgrades such as kitchen with stone countertops, stainless appliances, hardwood floor, travertine floor, earth-tone paint, neutral-color carpet, 2" wood blinds, plantation shutters, modernized faucets and light fixtures. It is very difficult to rent a property that still has the original 50's … (4 comments)
landlords: Great Selection of Rentals
- 09/20/08 05:33 AM
In the past years, we are seeing about 10 to 15 properties for rent per month in Diamond Bar and Chino Hills in the MLS database. As of 09/20/08, Diamond Bar has 67 properties for rent and Chino Hills has 52 houses for rent in the local MLS.Why is it that we are seeing 4 to 5 times more available rentals on the market this year? Here are 3 reasons:1. A lot of the sellers turned renters went back to purchase a house since house price dropped 30% to 40% in the past one year.2. Due to the low housing price, … (0 comments)
landlords: Loophole Closed on Capital Gains Exclusion
- 08/16/08 09:43 AM
For investors who move into their investment property in order to claim the $250,000 home sales profit tax-free capital gains exclusion ($500,000 for couple), the new law passed in July has closed this lucrative tax loophole.Instead of the old all-or-nothing proposition, under the new Capital Gains Exclusion rule, the exemption is a ratio. If a home seller occupied a property as a primary residence in 2 of the last 5 years, he would be entitled to only 40% of his capital gain tax-free instead of the old 100%. The new rules will be effective starting January 1, 2009. Homeowners selling in … (5 comments)
landlords: Landlord Insurance Vs. Homeowner Policy
- 08/07/08 06:01 PM
For landlords who have homeowner policies for their rental properties, since the needs of a landlord are different from homeowners, you might like to consider landlord's policy instead.Both policies cover dwelling and liability. Homeowner policy covers personal property. Since a landlord does not live in the rental property, the landlord insurance covers payments for lost of rental income instead.The costs for for both policies should be more or less the same. Please consult with your insurance agent for detail. … (9 comments)
landlords: Purchase Home Warranty for Rentals
- 05/14/08 12:09 PM
Home warranty covers basic plumbing, electrical, A/C and water heater problems that are not cover by the homeowner insurance.If home warranty is purchased for the a rental property, tenant can contact home warranty company directly for most common household repair. That way, it will reduce the amount of work involved in finding and hiring the right contractor for the repair.Also since tenant can submit repair request on line or call the 24-7 toll free number, it is very convenient for the tenant to make arrangement for immediate repair. … (1 comments)
landlords: More Rent For My Home?
- 04/22/08 01:04 AM
One of the most asked questions from landlord is "Can I get more rent for my home since I have 'so and so' upgrades?" Here's the answer to those questions. In our neighborhood, if your home is located in a multi-million dollar custom home community, you can add about 10% to 15% more for the prestige.
If you have a pool home, you can get about 10% more than a non-pool home. If you have a view home, since it only adds to the aesthetic value but not the functional value, it will make your house a preferable choice but … (1 comments)
landlords: Refund of Security Deposit
- 04/21/08 02:34 AM
Landlord may deduct the back rent and cost of fixing damages form your security deposit. However, landlord can not keep your deposit for normal wear and tear such as worn carpet & chipped paint. Landlord can only deduct the cost of fixing damages that is beyond normal "wear and tear" such as broken window or kid's crayon art work on the wall. In California, tenant can not deduct the last month rent from the security deposit. Landlord must send the deposit refund to tenant within 21 days after move out. … (4 comments)
Results from the J.D. Power and Associates 2011 Home Buyer/Seller Study, recognize RE/MAX for providing the
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