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3
votes
1answer
89 views

Should my live-in significant other and I both have renter's insurance?

My significant other and I both have our names on the lease for our shared apartment. We are not married. She has a renter's insurance policy that she claims is enough to cover both her belongings and ...
9
votes
3answers
2k views

Moving out three months into my one year lease. What happens?

I recently moved out of my parents house into my own apartment. I moved in the apartment in May. I signed a one year lease but I'm having a really difficult time, financially speaking. I can pay the ...
5
votes
1answer
115 views

Tax deduction for rental repairs after tenant moves out?

I purchased a home last July and began living there, while renting out a second bedroom in the property to a friend. I am now getting married in August, so the friend has moved out to his own place. ...
10
votes
3answers
1k views

Is there a way to live with and contribute to someone else's mortgage payments without the money being considered taxable rent income?

If my business partner purchases a home and I move in with him, presumably the money I'd give him to help out with his mortgage would be considered rent, and so he'd have to pay taxes on rent income. ...
1
vote
1answer
97 views

Why do I need a credit card to rent a car or hotel room, but not to rent an apartment?

This post adequately explains why one needs a credit card for hotel room reservations, car rentals, and similar. But why do I not need a credit card to rent an apartment? Although I do pay a ...
3
votes
2answers
92 views

Difference in rent listed on company's website and the lease they sent me

I'm trying to rent an apartment for next year. The rent listed on the company's website is $150 less than the rental amount contained in the lease they've emailed me. I haven't signed anything yet, ...
1
vote
4answers
69 views

How much will I pay in agent's fees or commissions to rent a house in Boston metro suburbs?

I am being relocated for work to the Boston metro area. As I'm starting the search for a home to rent, I have noticed that many properties are listed through brokers and/or agents. What is the ...
5
votes
1answer
309 views

Should I sell the home in 2014 or continue to rent it out?

The home was bought in Dec. 2010, and we lived there from Dec. 2010 to Jan. 2013. It's been a rental property since Feb. 2013, when we moved into a rental home to be closer to work (about 30 miles ...
36
votes
7answers
3k views

Friends come with hat in hand, but I don't think it will help

I have two friends, a married couple with a ~1yr child. Shortly before they had the child, they moved in with his grandparents. The grandparents are apparently unwilling or unable to care to the ...
4
votes
3answers
171 views

Can future rental income be applied to present debt-to-income ratio when applying for second mortgage?

If someone wants to purchase a second home as a source of rental income (and potential investment), would (or could) a lender apply the estimated future income from rent on to the present ...
2
votes
0answers
137 views

My Rights as Renter Without Lease Renewal [closed]

My wife and I signed an 11-month lease about 13 months ago. We had sold our condo, and needed a place to rent while we looked for a house to buy. About a month ago, we bought that house, which we ...
5
votes
2answers
217 views

What are some strategies to determine how much I should spend on rent when I have a lot of savings?

I'm fortunate enough to have saved a lot of money over the years, and have nothing specific that I'm saving for (it will be at least a few years before I start a family). This is great of course, but ...
7
votes
2answers
829 views

How to lower my rent when it is listed as less than what I am paying

I live in a large apartment complex that opened last year. I just moved in mid-July 2013 signing a 12-month lease. As of today, the apartment complex is about 30% occupied. There are many units ...
8
votes
1answer
2k views

What does “first, last and deposit” mean when looking for an apartment?

I was online looking for an apartment. It says, "we'll only need first, last, and deposit once your application is approved." What does this mean?
1
vote
2answers
127 views

If mortgage payments are deductible, how much of my income is left over each month after the mortgage

I'm currently renting and thinking of buying a house. Say I make 8k/mo. After rent (1000) and taxes (2000) I'm left with 5k/mo. If I were to get a mortgage at (say) 2500/mo, how much money is actually ...
2
votes
3answers
202 views

If I have a lot of debt and the housing market is rising, should I rent and slowly pay off my debt or buy and roll the debt into a mortgage?

I'm a Canadian divorcee who walked away from marriage with debt. I have a great income, but I owe $60K on a line of credit and credit card debt as a result of litigation. I pay $1,500/month in rent. ...
11
votes
3answers
1k views

Tips for negotiating a rent increase (as a renter)

My landlord asked me today (via email) whether we plan to stay in the apartment and sign another lease in September. He mentioned there may be a small rent increase. He did not tell me what "small" ...
2
votes
4answers
781 views

Is it normal to hold and pay for two apartments at once when moving?

Let's say you're moving out of an apartment and your lease is up September 30th. Is it typical to rent an apartment available September 1st (assuming most apartments are available at the beginning of ...
5
votes
2answers
351 views

Interest on security deposits paid to landlords, in Michigan?

Does the state of Michigan require landlords to put security deposits in interest bearing financial institutions?
2
votes
1answer
167 views

How do I calculate the interest on my deposits to my landlord?

I was renting from this company called harbor house builders. I started renting from them in 2009 and at that time I was renting an apartment at 650 a month so I put 650 for rent and 650 for deposit. ...
9
votes
4answers
301 views

Buying a house for a shorter term

I've lived under the impression that it is never wise to buy a house (as your home) unless you are planning to live there "at least five years" (or something like that). But is this necessarily ...
3
votes
3answers
585 views

Why could rental costs for apartments/houses rise while buying prices can go up and down?

In this U.S. city, I have the impression that the rents of apartments and houses always go up, say, about a 5% per year, while the prices of buying them fluctuates throughout the same years. If my ...
1
vote
2answers
147 views

Switching apartments & the correct way to exercise notice period with current landlord?

I'm in the process of signing the contract with another apartment, but the owner of the apartment I currently live in is not responding. I've sent the current owner an email on 6th November and there ...
3
votes
2answers
178 views

Whom do I pay the rent to?

I live in a house owned 50/50 by a brother and sister. The sister has moved out so it's just myself and her brother and she has asked me to pay rent just to her and her brother to receive nothing as ...
3
votes
3answers
638 views

Can my rent to own equity be used as a downpayment?

Here is my scenario. Homeowner wants $296,000 Will give me letter stating that I have 20% down payment as a result of rent payments being applied toward purchase price. My question is...does the ...
1
vote
1answer
197 views

What needs to be considered when taking over a 2Br alone and living with a roommate

My housing experience has been me and my roommates signing leases with our landlord together. I am going to move soon, and am interested in a 2br apartment with $850 rent. The landlord of that ...
2
votes
1answer
104 views

Where can I find the current price to rent ratio of the locality of my interest?

After reading an article about where to buy homes, I'm trying to do research on renting versus purchasing a home. I'd like to figure out what the price to rent ratio is as one factor of my research. ...
10
votes
4answers
1k views

Buying a house, Bank or rent to own?

We currently rent a house. Our credit is ok, but we're working on it (paying things off, disputing things, etc). We are first time buyers. We have a good relationship with the owners. We are thinking ...
5
votes
4answers
1k views

Better to rent with or without utilities?

By the end of the year, I will be renting a small apartment with one other person and we will be splitting the costs. I am a college student so I've only lived either at home or in dorms. In general, ...
4
votes
1answer
78 views

Renter starts next year, but advance checks received this year. How to report the income for tax purposes?

I have a renter who will start occupying my second home in January. He will provide checks for the first and last month in December. The IRS states that income should be reported in the year that I ...
15
votes
7answers
2k views

How can a person with really bad credit history rent decent housing?

My ex got evicted out of her apartment for non-payment of rent. This didn't entirely take me by surprise, as she is financially pretty clueless. She attempted to rent another place but given her ...
5
votes
1answer
94 views

Declaring income from rent

Currently I am renting out my flat to my Sister in law. My mortgage is ~£580 a month and here rent is £600. I am not doing this to make money just to cover the mortgage cost. Do I need to declare the ...
1
vote
3answers
2k views

How do we share vacation costs between families for lodging and food?

If you are taking a vacation with several other families, some with kids and some without, how do share the costs for lodging and food? In my situation we are renting a house were we will all stay. ...
5
votes
1answer
402 views

How do I track 'bartered' rent?

My brother and his wife are renting part of my house from me (in Kansas). Due to financial hardship on their part, I've agreed to let him do some house repairs in lieu of paying rent for a few ...
8
votes
3answers
461 views

Pros & cons of renting out personal condo during my work hours?

I work 9 - 5 and during the daytime on weekdays, my expensive condo is rather empty. What are some good ideas that I can rent the space out to some artist/yoga teacher during the day and make a ...
7
votes
3answers
353 views

What can cause rent prices to fall?

In the 2007 Global Finanical Crisis many places like the US, Ireland and Europe, experienced a popping of their housing bubble and as a result, house prices dropped quite a lot. However, as most ...
2
votes
2answers
456 views

How to pay rent using a credit card?

I am currently paying rent using personal cheques. Is there a way to route the payments through my credit card so that I get the travel points associated with the credit card? I will pay off the ...
10
votes
5answers
2k views

How to determine how much to charge your business for rent (in your house)?

I started a business this year and have a dedicated room in my home for this business. How do I determine the rate at which I will charge the business rent for the space?
5
votes
2answers
1k views

What if only one of two tenants signs a lease?

The title is a little misleading. Lease agreements tend to have multiple forms that need to be signed. In my case there was the actual lease agreement (with checkmarks next to many things that needed ...
10
votes
2answers
459 views

What's the maximum amount I should spend on rent?

Is there a general rule or percentage based on gross/net income? I'm 26 work in as a Software Engineer and do not own a car as my vision does not permit me to drive. UPDATE: To explain my situation ...
7
votes
3answers
178 views

What are the usual terms of a “rent with an option to buy” situation?

What are the usual terms of a "rent with an option to buy" situation? Is the selling price negotiated ahead of time? What does the renter potentially sacrifice except losing the equity of the rent? ...
1
vote
6answers
444 views

Is Cost of Living overstated?

Cost of living is a major factor in people's decisions: where to live, how much salary is needed for comparable lifestyles, and so on. But I was thinking the other day, that CoL might be ...
4
votes
2answers
219 views

Can buying REIT's be compared to investing in Real Estate?

I am currently renting an apartment, and investing a portion of my income in stocks and bonds (90/10). Part of my stock allocation contains REIT's. I have been saving to purchase a home (I have ...
8
votes
4answers
2k views

Tax implications of living rent-free

Suppose Adam owns a house and rents a room to Bill for $300 a month, and pays Bill $300 a month to mow the lawn, clean the rooms and do other maintenance. Assume U.S. law in a no-income-tax state ...
1
vote
2answers
101 views

Have house price growth exceeded rent yield in Australia in the last five years (2005 onwards)?

I started renting possibly about five years ago. I'm not sure if the rent price has gone up or down. I'm actually paying more then than I was now, but the place I am living in now is in the suburbs ...
14
votes
5answers
371 views

When is it better to rent and when is better buy in a certain property market?

I've been told the average rent for a house should be the house price, minus 3 zero's and that should be how much it should be a week, which I think works out to be about 5% of the house price per ...
3
votes
1answer
57 views

Source for information about Australia and U.S. real estate market rent-to-price ratios?

Would like to make a comparison between the two markets, in particular during the global financial crisis.
18
votes
5answers
1k views

How does one effectively negotiate rent?

I'm going to rent an apartment in a major urban area in the next few months. When I drive around the area where I want to rent I see numerous "For Rent" signs. Also when I look online there are ...
9
votes
4answers
393 views

I am co-renting with others who do not pay rent reliably. Is there a way I can stay without harming my credit rating?

I rent with other adults in a rental property and my name is on the rental agreement with them. I would like to know if I have to move out, or is there a way I can remain and still pay just my fair ...