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9

You should only do this if you can comfortably pay 100% of the mortgage and expenses in case a roommate doesn't pan out. It's much better to treat a renter in your own home as a bonus rather than a necessity in case your situation changes. This also gives you more flexibility when picking a roommate. You should also ensure no complications due to local laws ...


8

According to the Virginia Residential Landlord and Tenant Act, section 55-248.35 (Remedy after termination) on page 37 says that if you terminate the contract, the landlord has the right to claim rent and a separate claim for actual damages for breach of the rental agreement. They can claim this until your lease is up or another tenant moves in, whichever ...


6

Slightly abbreviated version of the guidance from NOLO.com California state law limits credit check or application screening fees landlords can charge prospective tenants and specifies what landlords must do when accepting these types of fees. (Cal. Civ. Code § 1950.6.) Here are key provisions: Landlords may charge a maximum screening fee of around $35 ...


5

To answer the question: What happens if you simply don't pay your rent is that they take you to court demanding what's owed them, and probably win. You did sign the lease promising you would pay it. WARNING: I am not a lawyer and do not know your local laws and codes and practices. The following is opinion based only on my personal experience and my best ...


5

In Maryland, a landlord must hold your security deposit in an escrow account and pay you interest when returning the deposit. The interest is simple interest; it does not compound. The interest rate that they must pay has changed over the last 43 years. Before October 1, 2004, the rate was 4%. Until January 1, 2015, the rate was 3%. Currently, the rate ...


5

In the USA: If you have a contract stipulating 20 days notice, then your landlord can pursue you legally, which can damage your credit, assess late fees and fines, etc. I'd examine your contract thoroughly before deciding not to pay. The only caveat on this, as @HartCO pointed out, is if the section of your lease dealing with required notice period violates ...


4

Many colleges have offices that can help students find off campus housing. They will have information about rooms being let by families, and about houses being shared by groups of students. The biggest issue is that many of the best places were filled months ago. With only a month to go before classes start time is tight. You can also look for electronic ...


4

I believe your statement is mostly correct: ...all the expert recommendations are based on an inflexible conventional wisdom that presumes that all renters are relatively resource-poor. When you purchase a $50 electronic item at the store and are offered an extended warranty for $3, most people turn it down, not only because they don't think it's worth ...


3

If you break your lease and stop paying rent, you are still liable for any rent until the lease runs out or until someone else moves in, whichever is earlier. If you stop paying rent, then they can choose to sue you for the part you owe them. You are still entitled to your security deposit back, as long as there are no damages to the apartment (the deposit ...


2

The property tax credit has been rolled into the Ontario Trillium Benefit. You can calculate how much you will receive here. http://www.fin.gov.on.ca/en/taxcredits/CalculatorQuestions.asp For example a single person paying $500 / mo rent and earning $20,000 will get $396 for a property tax credit. This will be paid monthly and won't change the amounts ...


2

I suppose it's possible that some insurance companies may require to see a lease, but I've purchased renters insurance from various companies in the past and don't recall ever needing to provide one. If they did require one, you could draft one simply for that purpose, and never show it to the HOA. However, you may not even need renters insurance. Every ...


2

Check your lease, which almost certainly lists a necessary notice period. If you did provide adequate notice, you are unlikely to need to pay the additional month's rent ("unlikely" because I am not a lawyer). If you did not provide adequate notice then you are likely required to pay something (maybe the full month's rent, maybe enough pro-rated rent to ...


1

I like Hart CO's answer and have a little to add. First it is not a dumb idea, it could be a very good idea. The key is that this venture should be considered a business and you should open such with deliberate intention. You seem to be well on your way, and in addition to many fine points in Hart CO's answer I would recommend the following: Do you want ...


1

What are the consequences if I just skip this payment? There is a chance your landlord will pursue you through the courts, giving you months or years of angst. You may end up paying lots of additional costs. You may end up having a hard time getting loans if you have a record of defaulting on payments and court judgements against you.


1

There are services, usually associated with real estate agents, that provide apartment search services for relocating professionals. I was very underimpressed when I was offered the use of such a service and did better on my own, but I did have the company paying for a hotel room while I searched so I had time to investigate alternative channels -- and in ...


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