 What can I give visitors @ an open house?(real estate)? |
| I want to avoid the things that have to be thrown away if I don't see many people. (that's just a waste)... |
|
 Selling House Inspection Report To-Do List Bathroom Floor? |
| Hello, eight days before we where supposed to close our buyers dropped out because they decided they could not afford the payments. (Long story, but it was a breach of contract and my lawyer is ... |
|
 Will you buy a house which has number 13 in it's address? |
| Considering the house is in really good condition when compared to others on market, will you NOT buy it just because it has number 13 in its address?... |
|
 Renting an apartment,but are gonna be out of the country for 2 months? |
I'm going on to Europe for about 2 months or so.
I am allowed to NOT stay in my apartment,
as long as I am paying the rent,it doesn't matter if I am actually staying there,right?<... |
|
 Hi, we are renting a flat in a building with 5 flats. Each flat has its own door,? |
but there is a communal door that we enter the building through.
Tenants in the building tend to slam the communal door and their own door also. It is really loud and disrupting. They slam ... |
|
 (UK only) is it legal to buy a piece of land then live on it in a caravan? |
| some people manage to do that, but I also heard that the rest of us can only do it with planning permission, which they don't give unless you're building your own house on the plot of land ... |
|
 My Real Estate agent wants me to write a good faith check for a house I want to make an offer on.? |
| Is this common to write a good faith check,He was standing his ground and did not want to make the offer without the good faith check.Shouldn't he atleast grant my request,to see what happens,a ... |
|
 Landlord illegally subletting housing association house, now faced with eviction, help!? |
| My fiance and I have been privately renting a house for 3 months now, and 3 days before christmas, a lady from a local housing association knocked here and informed us we were illegally subletting ... |
|
 Is it ok if i i move into a bad neighborhood? ? |
| im 23 never been on my own. i always wanted my own place. ive been accepted to move in an section 8 apartment. they told me i can move in this sometime this week. i really want my own place. ive been ... |
|
 Applying for a loan for a second house.Can I put in the presumed income I will get renting out my 1st home? |
| I own the home I live in right now. If I want to buy a second home to move into and rent out the one I am currently living in, how would I show this on a loan application? Currently my home ... |
|
 What do financial people think will happen to house prices? |
We are thinking of cashing in our savings including ISAs to buy a second home, due to the dreadful savings rates. We would use the second home as a holiday home, would not want to rent it out.
W... |
|
 How do I evict squatters? |
| My grandmother passed a year ago. My brother and sister and I were the only living heirs to her estate. The home is still in probate, with me being the legal representative. My brother and his wife, ... |
|
 Do you think offering 200k will be considered? |
| this house has been for sale for about a month (in Michigan) with the economy being so bad and houses not selling, I was wondering do you think the seller would expect 200k cash offer. Well, would ... |
|
| How long before I can reapply for a home loan? |
| I was recently told because of two items on my credit report that I would not be able to get a home loan, they said once they were off, to reapply. If I pay them off next week, could I reapply then, ... |
|
 Does anybody has tips for first time home buyer who has filed bankruptcy? |
| I am in the market for a new home and earn 30k a year i live in the state of illinois.... |
|
 Will my house price decrease by turning a small bedroom into a bathroom? |
| I have recently purchased a terraced property where the bathroom is downstairs, upstairs there is 3 bedrooms although one is quite small and located off the main bedroom, if I turn this into an ... |
|
 Does a washer and dryer typically stay with the home when you buy a house? |
| the realtor said he was gonna ask if the owners to leave the appliances. does this include the washer and dryer? he really only talked about the kitchen appliances so i was ... |
|
 I was mislead by my realtor was what they did illegal? |
| I recently entered into a contract to purchase a home. When we made an offer my realtor talked me into raising my bid because she said there was already one offer being presented at the same time as ... |
|
 My apartment lease forbids installation of air conditioning units? |
| Does this include portable air conditioning units? There is no installation or change to the walls or windows. Electricity is included in my rent.... |
|
|  |
Laurie C | I your mortgage company raises your mortgage almost 1/2 is it ok to add some of that cost to your tenants rent? |
Additional Details
I already charge way below the price cause im a softy but with water gas and now this for a 3 1/2 bedroom in good area i need help they pay the same price the people in the one bedroom across street pay and their house is smaller than mine thanks guys
|
 |
 
GiGaBaNE
|
hell yeah its perfectly moral to raise your prices if your costs go up.
however, just because its ok to do so, that does not mean its economicaly viable to do so. you need to check out your local competitors and see if your new prices will cost you out of the market.
Chances are tho, if one has to raise prices to to raised global costs others will too.
You may lose your current tenants due to the change, but as all prices are rising then as long as you match your competitors for price change then your market share should not change.
Edit: if its family and definatly not for profit, you should have a chat with them and explain the costs have gone up and let them 'do the right thing'...if they dont offer to help, then they are not as concerned with your wellbeing as you are with theirs =/ |
|
Andrea
|
Depends on the lease you have with the tenants. |
|
GWB
 |
You have to give a rent increase letter under your local laws.
My lease states I can adjust for increase in utilities cost during the term of the lease.
Verbal notice is no good!
If under a lease, in most states you give the notice 30 days before the end of lease term in a lease renewal letter.
|
|
bud68
 |
Your mortgage payments have nothing to do with the rent you charge. If you attempt to charge more than comparable local rentals, you will lose your tenants. Your rental rates have to be market-based, not cost-based. |
|
skiingstowe
|
Hi,
Owning rental properties is like ALL other business. Cost does get passed on to the tenants, like it or not. If the Landlord pays for heat and utilities and those cost increase, then part or all of that cost gets passed on to the person or persons responsible for the consumption of that energy or utilities. It is irresponsible for the tenant to expect the Landlord to pay for the lifestyle preferences of the tenant. Likewise if the total cost of the property goes up, then a percentage of that cost is passed on to the tenants of that property. All business works this way. These are hidden cost that the Landlord has no control over other than making the property as energy efficient as possible. The Landlord does have some control over the mortgage in the type of loan they contract with the lender. Fixed rates help control monthly payments to the bank, but if your taxes are included in that payment and those increase your monthly payment goes up, and I do ask for rent increases when property taxes go up. No business can operate at a loss for very long. How can a Landlord make capital improvements without making a profit? They can't and that's why rents increase over time. |
|
Real Estate Guy
|
There are 2 issues here.
1. Your rental property is a BUSINESS. Being a softy only costs you money. Do you provide a clean, safe rental for your tenants? If yes, they you should be paid FAIRLY for this service.
Review what you SHOULD be renting this place for and charge it. If you want to charge less (NO MORE THEN 5% less then market) because they are good tenants, great.
In regards to charging more because your costs increase. This has nothing to do with the amount of rent you charge. You need to charge MARKET rent. If there is surplus, this is PROFIT to you. If there is a loss, then you need to make it up.
|
|
chatsplas
 |
Well you may be a softie, but you are a lousy businessperson, and a poor LL. LLs do not need to give reasons for rental increase (and don't need any reason for an increase), but may do so if you have a good relationship with tenant. As a LL you need to charge market rent unless there are compensating factors (such a long term tenant), and to pass on to tenants as much cost as you can. If you have a written lease, you are stuck because that is what YOU agreed to and you have NO legal right to raise your tenant's rent until the lease is over. Your lease specifies who pays the utilities, and normally LL does not pay tenant's utilities. If you have only a month to month rental agreement, upon giving written notice 30 days in advance of date rent is due, you can increase rent, require tenants to pay their own utilities, or a share of them, etc. |
|
9 daughters
 |
As a landlord you can raise your tenants' rent for any reason, including this one. In fact, you don't have to have a reason at all. The bigger question is will your local market support a rent increase? If you charge more than your tenants can get a similar deal elsewhere you'll lose your tenants but, obviously, you already know that.
It might help your tenants to know why their rent is going up. Many tenants think landlords are just pocketing it for profit. When my property taxes go up I've often showed my tenants a copy of the tax bill so they know. Most tenants are understanding when it comes to raising rents to cover higher costs, not so understanding when it's just to increase the landlord's profit. |
|
violetlisa
 |
Yes you can raise the rent, but only when it is time to renew the lease. If it is a month to month agreement you should give them a couple months notice. |
|
ibu guru
|
You signed a lease with your tenants? The price is locked in for the term of the lease unless you have a clause in the lease detailing the circumstances under which you might raise the rent and by what maximum amount.
In the first place, with a house rental, as opposed to an apartment rental, tenants usually pay the utilities so the risk is on their end. Besides, you have no control over a tenant who takes hour-long showers, or keeps the heat set at 75 in winter. You should have set up the lease so that the tenant pays for what they use! Too late now to change that.
As for pricing rent, you should aim to price a bit below market if you want to keep the place rented continuously and avoid the expense of advertising and vacancies. That's just smart. But pricing a 3BR below the going rate for a 1BR is just plain dumb.
Learn your lessons before the next tenant moves in. You should have done your homework before you rented to your first tenant. You will have to do your homework now in preparation for the next one. And you should get a copy of the standard Bar Association or realtor's association lease form for your state & study that along with standard texts and guides for being a landlord. |
|
doinou
|
As long as it's ok with the tenant, but chances are it won't be. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
11 | 30 minutes(s) ago
| | | |
11 | 2 hour(s) ago
| | | |
11 | 6 hour(s) ago
| | | |
11 | 10 hour(s) ago
| | | |
11 | 1 day(s) ago
| | | |
10 | 5 day(s) ago
| | | |
11 | 1 week(s) ago
| | | |
11 | 1 month(s) ago
| | | |
11 | 3 month(s) ago
| | | |
11 | 7 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
