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Privacy PolicyQuestion When is a landlord required to notify tenants of property being sold? Answer Although I know for certain that most states do not require by law that the landlord notify tenants in advance of a sale, I don’t know for certain that none does. However, I’m not sure it matters because logic and my […]
Buying At Bankruptcy Auctions Bankruptcy sale properties are probably not as well known to be potential sources of properties as are foreclosures and tax sales. However, they can be a good source for acquiring good properties at under-market prices. Bankruptcy is a legal procedure handled by the federal judicial system. Bankruptcy cases cannot be filed […]
Question 1 Should I rent to an applicant who has good credit (Credit Score: 790) and appears to pay his bills as agreed, but has filed 9 Chapter 7s and a Chapter 13? Answer 1 Without additional details regarding all information you might have regarding the filings, I can only discuss some general issues related […]
Lease Agreements – Part 3 We continue our series regarding “Lease Agreements” with a discussion of what should be in a lease agreement and what should not be. Lease Issues There are many issues that must be included in all lease agreements, whether residential or commercial. There are still more issues that should be included, […]
Question I rented an apartment to a couple over 5 years ago. At that time, I collected a security deposit of $650. The lease was for 1 year. We have been operating under the month to month provision of the contract for the last 4 years. Unfortunately, the couple separated a year ago and the […]
Question I own a 10-unit building, with each unit being assigned a carport parking space. A month ago a storm caused collapse of portions of the carport structure, seriously damaging cars in two spaces. The owners are claiming that I am responsible for repairs to their damaged vehicles. Am I? Answers There are several issues […]
Question: I am looking for other sources of income besides rent from my14-unit apartment building and am considering charging for parking space, both covered and uncovered. Is there anything I need to worry about in doing this? Can I force tenants to pay for spaces even though they are willing to park on the street? […]
Lease Agreements – Part 2 We ended part 1 of this series with a brief discussion of the four commonly used types of tenancy. We continue with discussions of several other basic concepts. Oral or Written Lease Agreement In general, contracts of almost any kind can be either “oral” or “written” and each can be […]
Section 8 Basics – Part 1 The Housing Choice Voucher Program (HCVP) or as more commonly known, Section 8, is funded by the U.S. Department of Housing and Urban Development (HUD) and serves as the federal government’s largest low-income housing assistance program. Section 8 refers to the section of the U.S. Housing Act that authorized […]
Question: I have a tenant that signed a lead disclosure statement, but did not tell me she was pregnant prior to moving in. Do I have to have to have the apartment inspected and if there is lead do I have to remove the lead? I feel this is only one bedroom and they are […]
