Questions tagged [real-estate-leasing]

a specific tag for any questions related to leasing of real estate property. Please add information about any contract terms, this can also be used for sub-letting of real estate property. Please add country and state tag as jurisdictions do play a role.

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5
votes
2answers
456 views

Objectively, would it be better to sell my condo, or rent it out?

I bought a condo in 2016 for 160K, and this has been my primary residence since then. The loan was 152K, at 4.125% APR. I currently owe about 139K. My mortgage is 898 (includes taxes and insurance in ...
1
vote
1answer
162 views

How to reject a tenant?

I have had some prospective tenants apply to lease my Philadelphia, PA condo. As I listed the property on Zillow, the official 'application' is on Zillow as well. Zillow only has an 'accept' button ...
2
votes
0answers
97 views

Roommate/co-tenant said she would renew but lied after I sign lease - invalid lease?

So, my roommates and I planned to sign a lease renewal as co-tenants in NYC. While some of the roommates already signed it, the others changed their mind last minute. This unfortunately means the ...
15
votes
5answers
5k views

Why would my tenant want me, landlord, to buy his leasehold interest in my own property? [closed]

My lessee asked if I'm interested in buying his leasehold interest. He wants to sell his lease to the landlord, me. He's renting my detached house in Toronto until Jun 1 2024. He pays $9 000/month. I'...
1
vote
0answers
21 views

How to assess a price for splitting a Freehold

I've just bought the freehold of a property. More specifically... The property is a 3-storey House, with a 2-storey maisonette on the first 2 floors, and a separate flat on the top floor. The ...
3
votes
1answer
179 views

Is a potential landlord allowed to require a higher income because I rent a second property?

I applied for an apartment in the same town I live with no issues. I exceed the three-times-income requirement and my credit check was cleared. Then my landlord said we couldn't move forward until I ...
1
vote
1answer
207 views

Preparing for Brexit on a personal level

Situation: I am a UK citizen living and working in Berlin. I am a senior software developer, so have good job security, and am paid well enough that I could get an EU Blue Card. I own a flat in the ...
-2
votes
1answer
529 views

Can you retire when owning 3 or 4 houses, and what if you still have to pay mortgage on some of them?

I did some calculations before, and found out if a person own 3 or 4 houses, townhouses, or condos, then the person can probably retire. That's including living in one house, and getting rent from 2 ...
0
votes
0answers
73 views

Anything to know before selling a Lease back to the freeholder

We're about to sell our leasehold, ex-council property back to the council, i.e. back to the freeholder of the lease. Is there anything we should know about beforehand? Should we expect this to be ...
6
votes
3answers
515 views

Taxes on rent back

I know there are risks to this, but I'm only asking about viability. Let's say I buy a property in the United States and did a one to three year rent back to the previous owners. The sellers would ...
1
vote
0answers
26 views

Combine 121 and 1031 - how much capital gain is non taxable?

Section 121 allows $500k of cap-gain to be non taxable (in the right circumstances) Section 1031 allows the deferral of capital gain taxes (in the right circumstances), and they can be combined. But I'...
1
vote
1answer
53 views

How to make strategy for diversification between real estate and stocks?

I am living in tier 2 city in India and my father have all investments in real estate in my city. He had brought land earlier(20-25 years ago) when the prices were pretty low. It has given so much ...
2
votes
1answer
178 views

Outsourcing rental risk: selling right to rent house?

I am wondering whether there is a way to get rid of the risk associated with renting a property one owns by selling the right to rent that property for a certain period? I am especially interested in ...
7
votes
1answer
2k views

What does it mean for money to be 'paid out in rates'? [closed]

Please see emboldened phrase below. Prof Richard Taylor, Damian Taylor. Contract Law Directions (6 edn, 2019). p 185. para 2. Indemnity for expenses incurred under an obligation An ...
2
votes
1answer
310 views

How do rental income/costs factor into a debt to income ratio for a home purchase?

If I own a house that I rent out, and I apply for a mortgage to purchase a new primary residence, how do the rental income and costs factor into a debt to income (DTI) ratio for that new mortgage? My ...
1
vote
3answers
121 views

Are all automobile leases closed-end lease?

For example, consider entering into a lease contract with BMW SUV X5. As usual, the duration of the lease is 3 years and the lessee is required to make equal install payments during the duration. At ...
33
votes
5answers
22k views

Is it appropriate for a prospective landlord to ask me for my credit report?

Context I'm looking at renting a house. The application the realtor sent me specifies: Below is what is needed to submit an application on [Address] and a few lines below specifies: Credit ...
0
votes
1answer
59 views

Which option to invest savings on home ownership? [closed]

I have savings of ksh 1m to invest in a residential plot(1/8th of an acre) - not built - in the suburbs of Nairobi city - say 30km from the city (Kitegela). the plots cost from 2m-3m, is this a good ...
5
votes
3answers
421 views

Can I purchase a 2 bedroom Philadelphia condo, live in one room, and rent the other?

I am in the process of purchasing a condo in North Philadelphia. The situation is great and my offer has been accepted. I received Condo Association documents to review and have 4 days left to review ...
32
votes
9answers
13k views

How do you send money when you're not sure it's not a scam?

I've been hunting around for an apartment recently, and along with the countless posts on Craigslist, I found one with a good price but slightly strange story. The poster claims to have been sent to ...
3
votes
2answers
325 views

About opening an LLC with little to report in the beginning

I am a full time employee in Texas and my wife is a stay at home mom. We are buying our third house and it should be ready in about 11 months. We rent out our current 2nd home (of which we own about ...
1
vote
2answers
183 views

Is it a wise decision to buy a home in the current market in a coastal market where prices are at a premium [closed]

I am looking at the possibility of purchasing a property in the San Diego costal area, however I wanted to get some feedback from people that know the economic outlook better than I would. Is it a ...
2
votes
5answers
386 views

Found some land for lease online, leasing agent won't tell me the price

I just called a leasing agent, whose information was posted online under the Land for Lease advertise, trying to get how much $$ they want per sqft; he never told me the price, bombarding me with ...
2
votes
1answer
213 views

What are the tax implications of renting out my condo if it's worth less than the mortgage?

I own a condo, and its market value is less than what I owe on the mortgage. On the upside, several interesting developments are going in nearby in the next couple of years. Because of some lifestyle ...
0
votes
3answers
3k views

Is it reasonable to charge extra for additional tenants in a single room?

I’m considering subleasing rooms within a single family home. I expect that one of my potential tenants will have their significant other boarding with them. It was originally expected that only one ...
4
votes
2answers
142 views

Qualify for mortgage with projected property income?

I’m qualified by my own income for a mortgage of X amount. But I want to qualify for a house of Z amount. The property I purchase will be subleased to other tenants. I know I’ll be able to afford ...
4
votes
1answer
334 views

I applied to an apartment without paying fees, now I want to cancel but they still want deposits

I was recently on the hunt for a new apartment. I was worried about some apartments going missing so I applied to more than one. Now I have moved into an apartment and signed a lease but one of the ...
4
votes
1answer
2k views

Broker charging 15% on leasing a no fee apartment in NYC. Can he do this?

I am going to sign a lease on a no fee apartment in NYC and my broker is charging me 15%. Can he do this? I thought no fee means the landlord/management company pays the broker? Please advise.
1
vote
2answers
274 views

What does this passage in my lease contract mean? [closed]

In my lease for an apartment that I am renting it says: You are giving up certain important rights. You are waiving your right to have a Notice sent to you before the Landlord starts a court ...
4
votes
2answers
458 views

Can I break a lease in response to a nonrenewal notice?

Just got notice that our house is being put up for sale and that we need to be out in 6 months. This is not an early termination, but a notice we will not be able to renew our lease. Since we'll ...
0
votes
1answer
250 views

Can we walk away from Lease if one of the member is still staying [closed]

My fiances dad died so we moved in with his mom to support her. His Mom lived in the apartment for a couple years before we moved in. Currently we are not getting along well financially. His Mom is ...
1
vote
1answer
265 views

Is it normal to increase rent by 5% per year?

We are subleasing a part of commercial real estate (medical office in Brooklyn, NY), and now that 1 year is over, the landlord want to increase the rent by 5%. They claim that their landlord increases ...
1
vote
0answers
50 views

Regarding leasing removal

I am living in shared accommodation. I am a student and not working yet so I don't have a SSN. But due to some reason I want to move out from apartment and my name is also on the lease, so I need all ...
1
vote
1answer
130 views

Do I need to continue to pay rent like they are saying?

I recently broke a lease due to a child’s medical reasons. I sent my letter of vacating in October but paid rent for October and November. In October they said it was rerented and to return my keys ...
3
votes
2answers
296 views

Apartment Year Lease Increase Statement

I'm looking to sign a lease and I notice there is a statement that the landlord can increase rent with 30 days notice. Is this normal for a lease agreement? Should I be concerned? The exact wording ...
16
votes
3answers
5k views

How do I go about asking landlord to prorate when I can't move in yet?

I am renting an apartment. Move in date was August 1st. The apartment is slightly dirty with cobwebs and the walls definitely need to be painted. Landlord says that she will paint very soon but until ...
2
votes
1answer
4k views

Why is a month to month fee listed on my 12-month apartment lease?

I'm currently in the process of signing an apartment lease. As I was going through the terms, I noticed this: In addition to my "Rent Due Monthly" there is a listed "Month to Month fee". Now, my ...
1
vote
2answers
471 views

“Missing” Apartment Rent Payment

So I'm currently renting an apartment through real estate agent. I've been paying monthly. They claimed that they didn't receive the May payment and there is no unclaimed money in their account. I ...
-1
votes
1answer
116 views

Texas Accelerated Rent

I have to pay $7,022 in accelerated rent charges. Due in 30 days, does anyone have any experience with this? I asked the apartment for a payment plan and haven't heard back. What are ways I can save ...
1
vote
2answers
122 views

Selling a leasehold flat

What happens when you want to move out of a leasehold flat - can you still sell it and move your mortgage to another property?
1
vote
0answers
74 views

Apartment/other, from July to October. Best option?

I will be leaving my current apartment on the 1st of July (in Quebec leases mainly end on this date). Also, I will be travelling for about 4 months, starting from around November. Having to pay for 6 ...
7
votes
2answers
1k views

The cost of cleaning the house that we rented far exceeds the security deposit. Should we bother?

My wife and I rented an 1100-sqft house in Florida for the last six years. All rent was paid on time, and our credit is good. The landlord has been kind to us, doing such things as forgiving the ...
2
votes
1answer
105 views

Lease term is described as additions instead of a sum

I have been looking at an investment property, it states: Term: 30 years based on 15 + 5 + 5 + 5 Initial rent per unit: Ranging from $13,500 to $19,000 gross plus GST if any (including free-stay ...
1
vote
4answers
4k views

What happens if I break lease while landlord does not have my SSN?

I live in Chicago and my landlord is a large apartment rental/management company. What would happen if I break the 12-months rental lease by leaving 2 months early if they do not have my SSN on file? ...
4
votes
3answers
980 views

Negotiating rent at lease renewal

I'm renting an apartment in Mountain View, CA. My lease will be up for renewal in about 7-8 weeks. My landlord has not sent me a renewal notice yet, and when I called asking about it I was told that ...
22
votes
2answers
7k views

Is it legal for a landlord to report a large payment to a tenant using Form 1099?

I recently signed a Mutual Termination of Lease agreement with a landlord who purchased the complex I was living in (CA,USA). Part of the termination of lease agreement specified a large payment for ...
1
vote
1answer
126 views

Can you lease a secondary residential apartment for a job in NYC, and declare it as expense in tax return?

Currently I commute over 2 hours to work in NYC. Thus I would like to rent a apartment close to where I work. Is there a way to have your rental payment declared as expense in your tax return? One ...
0
votes
2answers
1k views

Is It Possible to Get Out of an Apartment Lease?

My daughter is in a bad situation and I need advice. She recently moved into a new apartment near school. There were a lot of problems, she doesn't feel safe, and wants to move out. But her lease ...
0
votes
1answer
324 views

Can I be held to what a rental lease says if the landlord misinforms me about what it says?

However, he claims that according to the contract I have to inform them 2 full months in advance (by a certain date of the month, so effectively 3 months now) in order to leave or be responsible for ...
9
votes
1answer
3k views

Tax implications of roommate rent from unofficial apartment sublet

I'm currently renting a 2/2 apartment in the US that is managed by a REIT (NYSE:MAA). I set it up in which I am the sole responsible lease holder and have added a roommate to the lease as an occupant (...