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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34
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 ...
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 ...
22
votes
2answers
6k 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 ...
16
votes
3answers
4k 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 ...
14
votes
3answers
872 views

My landlord is being foreclosed on. Should I confront him?

I just found out that my landlord is being foreclosed on. My lease agreement runs out at the end of this month, but I had, through email, agreed to stay for another year (no new contract was signed). ...
12
votes
4answers
49k 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 ...
9
votes
1answer
2k 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 (...
7
votes
3answers
2k views

What are the advantages and disadvantages of leasing out a property or part of a property (such as a basement apartment)?

What are the advantages and disadvantages of leasing out a property or part of a property (such as a basement apartment)?
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 ...
7
votes
2answers
5k 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 ...
6
votes
3answers
6k views

What happens if I don't pay my rent while my lease still has time to run?

I had to move to a new apartment. My current lease is not up for 8 months. In order to terminate my lease early, the contract states that I must pay $1,000 plus the normal rent until a new tenant is ...
6
votes
3answers
1k views

How to deal with a landlord charging more than what is specified in the lease when I break the lease?

I am not from the U.S. and this is my first experience breaking the lease. I had to break it to move for a new job, and no one would like to sublet the apartment since it is a damp basement. The ...
6
votes
1answer
3k views

Is a lease still binding if not all of the parties sign it?

My wife and I were leasing a house with another couple. Two weeks into the lease, the other couple left in the middle of the night and we have yet to hear from them. My wife never got to sign the ...
5
votes
3answers
69k views

What happens if I move out before my lease ends?

Suppose I sign a one year lease for an apartment or a house and pay a security deposit for the same amount as a month's rent. If I move out before the lease ends I know that my security deposit will ...
5
votes
5answers
2k views

How painful is it to break a room occupancy lease?

Well, since September, I have been renting out a room so I could commute to my university. I signed a lease stating that I would be renting out this room until May 2011. Out of nowhere, space in the ...
5
votes
3answers
380 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 ...
4
votes
1answer
1k 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.
4
votes
4answers
15k 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 ...
4
votes
3answers
869 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 ...
4
votes
2answers
138 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
2answers
379 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 ...
4
votes
1answer
2k views

Will being a guarantor impact my ability to rent an apartment for myself?

I am considering being a guarantor for my brother (for his apartment in NYC) because he doesn't make enough money. I'm also considering moving in the next 6 months or so. If I am the guarantor for ...
4
votes
1answer
265 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
723 views

Overpaid Rent Owed By Real Estate

Over the course of my last lease I had overpaid around 2 weeks rent to the real estate. I was notified of this when I moved out, but despite chasing them up about it they have failed to refund me the ...
3
votes
2answers
291 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 ...
3
votes
2answers
310 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 ...
3
votes
2answers
1k views

How badly does a collection account sent to the credit bureau hurt my credit score?

I'm a college graduate, home owner, and I have a decent credit score. I just received a letter from a collection agency claiming I owe upwards of $700 on a delinquent debt from an apartment I lived in ...
2
votes
3answers
2k views

If I moved abroad, what happens to the U.S. apartment lease I'd be breaking? Would a debt follow?

I'm moving to the United Kingdom. What will happened to my apartment lease here in the United States? Will that debt follow me?
2
votes
5answers
378 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
178 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 ...
2
votes
1answer
3k 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 ...
2
votes
1answer
99 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 ...
2
votes
1answer
2k views

Can I back out from the lease before signing the contract

I was looking for an accommodation and found one. I have not signed any contract or deposited money yet. I just agree to take the place via email with the current tenant of the flat and planned to co-...
2
votes
1answer
38 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 ...
2
votes
1answer
2k views

Is a lease without signature valid/enforceable?

When our two year lease was up, the landlord agreed to about her 2 year lease by email and stated that the rent would remain the same. This was all agreed upon by both parties via email with no ...
1
vote
4answers
3k 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? ...
1
vote
2answers
270 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 ...
1
vote
1answer
135 views

What advice would you give about having to move out during the last month of the lease on short notice?

I am in the last month of my lease and already paid for this month. However, personal events have made it impossible to sign a new lease so I need to move out. Will my landlord keep my deposit?
1
vote
6answers
1k views

Landlord retracts email offer of lease (Michigan, USA): What recourse do I have?

I rented a room (Michigan, USA) and stayed there from Jan to June 2014. The entire agreement was done through email, including 'signing' a lease (there was no actual signature, the landlord and I ...
1
vote
2answers
407 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
vote
1answer
884 views

Is it illegal to sublet apartment to someone not on lease? Penalties?

I have a 2 BR apartment which I have been using to sublet to tenants for several years. I don't put them on my lease. Is this illegal, and if so, what are the penalties?
1
vote
1answer
254 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
2answers
119 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
3answers
111 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 ...
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 ...
1
vote
1answer
125 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 ...
1
vote
1answer
545 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 ...
1
vote
2answers
173 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 ...
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
0answers
72 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 ...