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Questions tagged [rent]

Questions around the idea of borrowing rather than owning an asset. Could apply to real estate as well as other assets as cars can be rented as well.

36
votes
6answers
17k views

Holding rent money for my friend which amounts to over $10k?

My close friend has just moved into an apartment with me and due to some circumstances he would like to pay me the rent money for a year upfront. The total amount will be about $11k total, and we as ...
0
votes
1answer
143 views

Sublet my apartment or break my NYC lease with forfeit of security deposit?

My NYC landlord has agreed to let me out of my lease agreement if I forfeit my security deposit of $3,225.00. In the rental agreement I have six free weeks of rent on an 18 month lease. So the net ...
2
votes
0answers
119 views

Can my landlord offer to renew my lease for a higher price than the listed price in the market?

Can my US landlord offer to renew my lease for a higher price than the listed price in the market?
30
votes
6answers
13k views

How to show a landlord what we have in savings?

My wife and I will be moving to a new, major US city soon, and will be renting an apartment. For the first 18 months, we will both be in graduate programs and our income will be rather low, about 2-2....
1
vote
4answers
346 views

Family of 4 (1 adult, 3 kids) dealing with eviction. How to find a new place to live?

About 4 years ago I was evicted from our apartment in California. I have been staying with family but this is no longer an option. I have been trying to get a place for us but keep getting denied due ...
0
votes
2answers
197 views

Is it better to get a mortgage or continue renting in London?

Currently me and my partner are renting in London, which with bills included eats up around 50% of our takehome income. It seems that if we were able to get a mortgage on a flat, we would potentially ...
11
votes
4answers
8k views

Given this phrasing in the lease, when should I pay my rent?

It's the first time I have to pay the apartment rent myself and I have some doubts about when should I pay it. The lease states: ... at the latest of the 5th working day after the commencement of ...
1
vote
1answer
197 views

Leaving my apartment early

So I have 7 months left on my lease, and my lease says If I leave early I must pay every month of rent plus a $2,500 fee. But what if I just move out and continue to pay rent each month for the ...
0
votes
0answers
31 views

How do Rent Concessions affect the DC Renter Tax Credit?

I live in a rent-controlled apartment in Washington DC, and my landlord engages in a scheme to get around Washington DC’s rent control laws. How it works is that my nominal rent is $2000, but I get a ...
3
votes
4answers
227 views

What are some risk involved in buying an apartment with rent 2 buy?

Disclaimer: I am going to live in my city with a very low chance of moving somewhere else. I am currently looking for viable options for buying an apartment. The traditional way is to save up 15% and ...
0
votes
1answer
68 views

Guaranteed Small Loan with no assets to pawn and poor credit

I need to pass the criteria the various loan companies require to receive an emergency loan I will consider all possibilities to get approved for and receive the loan in my name how can I provide ...
1
vote
1answer
78 views

Does using a credit card's rental car protection in case of a damage with car rental result in increase of some premium or extra fees?

Many credit cards in the United States offer some kind of rental car protection (mirror). In case of a damage to the rented car, does using the credit card's rental car protection in case of a damage ...
5
votes
4answers
561 views

Why is the “buy vs rent” debate framed in terms of “buy a house vs. rent an apartment”?

Most coverage of the "buy vs rent" debate in North American popular financial media (see here for an example) frames the debate as a simple dichotomy: either renting an apartment (i.e. renting a unit ...
2
votes
1answer
90 views

The formula to calculate the Net Present Value of monthly rental payment, adjusted for rental annual increase?

I am renting my apartment out, and for that I need to calculate the Net Present Value of the rental payment, after deducting the management fees (f) and adjusted for rental increased. Assuming that ...
61
votes
8answers
19k views

Should I deplete my saving and buy a house with cash, or should I rent?

My wife and I are very frugal. We've been living abroad for several years and saved a decent amount of our salaries. We've decided to move back to the US this year. We've found a modest home that ...
3
votes
3answers
266 views

Splitting rental expenses between friends

I am moving in to a rented apartment in London with 2 other friends. Our contract is for 1 year, and we all intend to stay in the property for at least that long. We are trying to work out a good way ...
88
votes
6answers
29k views

I co-signed on an apartment for a now ex-boyfriend who refuses to pay. What can I do?

I co-signed on an apartment with my ex-boyfriend when I was 18 and he was 21. We broke up. I am now 26 and it has been in collections for years. He refuses to help pay the debt. I am now stuck with ...
1
vote
3answers
111 views

Joint ownership and rent from the person living in the house

My sister and I own a house jointly, 50/50. Her 50% has survivorship to her daughter, mine to my husband. She lives in the house and I do not. She believes that since she is an owner, she does not ...
0
votes
1answer
79 views

Simple Interest calculation on rent of specific period till date of payment

Hi I have to calculate simple interest on Rent of Rs.10,000 @6%. There are two parts to my problem. Calculation of simple interest on rent amounts due for 41 months progressively i.e. as rents keep ...
1
vote
1answer
251 views

Trying to rent an apartment, processing fee $1000?

I am a student and soon to be tenant who is looking to rent a place for about 4 months between January and May. I have to relocate near Atlantic City, NJ and I have come across many winter rentals ...
1
vote
1answer
75 views

New York, Rental Apartment in Chinatown has issues with Gas Connection. Can I get rent abatement

I live in a rental apartment in Chinatown, New York area. My building had its gas turned off by ConEd because of a faulty pipe. Talking to the super, it seems the landlord as no immediate plans to fix ...
0
votes
1answer
361 views

Apartment rent possible fraud

I permanently moved to Spain in September and rented a one apartment through a Russian agency. I never met the Russian owner who I was told lives in Canada. A woman from the agency signed in his name ...
33
votes
4answers
14k views

I've been scammed, but have the scammer's bank information

I was scammed by a person who 'rented' us a home that was listed for sale that he didn't own. There were a lot of red flags along the way, and I noticed them, but didn't act as we were desperate to ...
-1
votes
2answers
451 views

Electricity meter was installed, can I reduce my all inclusive rent without problems?

The rent I pay is all inclusive (room, electricity, gas, water, internet, council tax, etc) however a few weeks ago the electricity company installed a pre-payment meter because the landlord hadn't ...
3
votes
1answer
93 views

UK app that counts rent payments towards credit score [closed]

I live in the UK. A few months ago, I saw in the tube an add for a app that allowed users to count their rent payments towards their credit scores. I wasn't interested at that time, but now I want ...
2
votes
4answers
288 views

Can a rent increase with RPI value be enforced retroactively?

In October 2016 we have rented a lovely house through an agency and , while negotiating , the landlord proposed that after one year the rent should increase with the RPI value. We accepted but with a ...
2
votes
4answers
671 views

Skipping the last rent payment?

I have a landlord who said that I will need to pay another month's rent because I missed informing him of my move out date by 5 days. He wanted a 20 days notice, but I gave him 15 days. Therefore, he ...
0
votes
2answers
258 views

How hard is it to rent an apartment with high assets, but little income?

Let's say someone has high assets (say, over a million), but currently has no salary, but do have passive (interest and dividends) income. How difficult would it be to rent an apartment? I've heard ...
1
vote
3answers
581 views

If a renter rents a room from your house for many years, will the renter eventually have rights to ownership

My husband and I purchased a house together. The mortgage is in both names. I moved out and am legally separated. He rents out a room now to the same person for many years. In the future, will the ...
1
vote
1answer
100 views

2018 Federal Income Tax Deduction for Owner Occupied Rental Property

I live in a 3 bedroom condo in California and decided to rent out 2 of the bedrooms and live in one. The mortgage is $1M and interest is $4000 per month HOA is $600 per month Property tax is $1000 ...
4
votes
1answer
266 views

Do I need to pay taxes on my mother in law giving us “rent” money?

This is for California, USA My MIL is living with us these days and we do not actually charge her for any rent. She has a small business that has sporadically yields some income. She insists on ...
5
votes
1answer
214 views

Employer paid rent as part of income?

In 2017, my wife's employer paid for our rent as per her contract. The employer added this to her monthly salary. She received a 1099 at the end of the year. I considered this money income when ...
3
votes
1answer
262 views

Lease ends May 28, 2018; but, moving out today (4/29)

My lease ends on May 28, 2018 and I’m moving in with my uncle today (4/29) because it’s more cost efficient. I will still be paying the rent for the month of May as it’s the last month in my lease and ...
1
vote
2answers
111 views

Can I deduct rent against a capital cost?

How does rent work with regard to capital costs? For example, let's say I build a storage facility on my property and it costs me $100,000 to build it. I rent it out for $1000 per month. Can I then ...
25
votes
6answers
13k views

Potential debt collection scam from National Credit Systems?

Yesterday I received a letter in the mail from an organization called National Credit Systems. In the letter, they say that I owe them $230 to the apartment manager that I rented from 3 years ago. I ...
0
votes
1answer
202 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 ...
2
votes
0answers
188 views

Can my landlord raise my rent for switching to a month-to-month lease?

When I first rented my apartment in Los Angeles 3 years ago, it was not rent-controlled. It had a clause saying my rent would increase by $600 per month if I went month-to-month, with a $600 fee to ...
12
votes
4answers
7k views

How much can I negotiate asking price on London rentals

I'm moving to London soon and I'm trying to figure out how much higher, roughly are rent listings than the final rent landlords are expecting. Let's take as an example a 1-bed flat in East London ...
6
votes
1answer
199 views

Friend is leaving US without ending the lease? What the apartment manager can do?

Friend is leaving US due to visa problem. She has very good credit history. She is planning to pay all the credit card and utility bills. The only thing she is not willing to pay is lease breaking ...
5
votes
2answers
438 views

In the UK am I liable for the first month of a periodic tenancy after a fixed term tenancy becuase I didn't give notice according to the TA?

Here's the facts: I live in the UK. My fixed period tenancy agreement finishes at the end of december A periodic tenancy starts on january I want to move out at the end of the year Due to reasons I ...
1
vote
1answer
145 views

How much to deduct for no heating

We rent a 3 bed house now reliant on 3 'emergency' plugin radiators - extremely rural - which are a poor substitute. 600pcm before lack of heating. One bedroom not used due to cold. Over 3 months and ...
2
votes
2answers
2k views

Using 25% of income for rent - gross or net?

I always hear the advice that your rent should not be more than 25-30% of your income and I like that advice. But I've never been able to get a clear answer on whether this should be on your gross or ...
4
votes
1answer
126 views

Is a discount on rent for work done reportable as income?

If a person is renting a place that might normally rent for $2000 per month, and landlord agrees to a rent of only $1500 per month so long as the renter does certain maintenance and other chores ...
11
votes
3answers
5k views

Do I have to pay rent to my father when the home is owned by a family LLC I partially own? [closed]

I am inquiring about an LLC-owned property that I am renting. I, along with my three brothers, are owners of the LLC. My parents bought the house originally but then the LLC bought the property and ...
6
votes
1answer
176 views

What are the risks of paying rent through CreditLadder or a similar company?

In the UK, paying rent is not normally reported to credit agencies. Landlords who own more than 100 properties can report this to Experian, but the vast majority of landlords have less properties. ...
5
votes
1answer
399 views

The equivalent of the standing order in the internet age for the UK specifically

I have purchased a parking spot in a busy town which I want to rent out for a monthly fee. I have found someone who wants to pay a rent and is happy to have an arrangement indefinitely. When I have ...
-1
votes
5answers
1k views

Is there any difference in paying upfront versus in monthly installments?

So let's assume I wanted to rent a house which has monthly rent e.g 300 euro every month starting at 1/1/2010. And let's assume I wanted to rent this house for 24 months. Only in terms of inflation ...
1
vote
2answers
608 views

What is fair between 10 owners of an estate? [closed]

My father passed away in 2014, and my mother in 2012. They left a will 30 years old. They had my 2 sisters as executors. We were never told anything and they had me and my sister pay rent. I paid for ...
0
votes
2answers
279 views

Math Behind Buying a House with Calculations

This is a follow-up question to Math Behind Buying a House As many answers pointed out, my calculations in the previous question were flawed. What do you think about the updated calculations below ...
33
votes
9answers
15k views

Math Behind Buying a House

Is following calculation correct? I spend $1500/month on average on rent. If I rent for the next 3 years, I would be spending $54,000. I can buy a house for $220,000 today and spend the same amount ...