 Eviction Issued, but Landlord has the WRONG NAME? |
| Here's the story. Landlord never gave my friend a lease, rental agreement or receipt of payment. He waived the deposit and basically accepted cash under the verbal agreement he would provide the ... |
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 What's a high real estate commission ? |
What real estate commission is considered too much that would be questionable for lenders?
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Have lenders denied the loan coz of higher commission than norm?... |
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 *Council mansions*? |
I was wondering today. If a family had like 15 kids and the parents weren't working would the council/housing association provide a mansion for them to live in.
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 Would you do this if you had too? |
| My fiance and I are going to apply for a townhouse today. The only problem is our income. THe rental goes for 1150.00, and combined we only make 2,452.00. We have no debt is only paying off my ... |
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 Should I refinance an 80/20 50 year loan w/ a 2 yr arm after 8 months? |
| I purchased my first home in September of 2006. At that time, the only loan I qualified for was an 80/20. (50 year w/2 year fixed arm). The first loand is at 6.97% and the second is at 9.9%. At that ... |
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 Open House a bust...ideas? |
| My home in Northern Mi has been listed since Nov. "06. I haven't had one person look at it, I have dropped the price $80,000, put many improvements, working w/ a realtor (Coldwell banker), ... |
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 Question about renting a flat? |
If I want to move into a new flat at the beginning of July, when should I start looking?
I will be renting, not buying- I understand the market moves really fast and have been told before ... |
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 Is it weird to have or even ask for a "apartment" warming party for your 1st apartment? |
| My Boyfriend and i are moving into our first apartment. Finally! I have waited 22 years to do this. Just a few months after my 23rd birthday, my bf and I will be moving into our first apartment. We ... |
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 My wife's credit score is mid-700s, mine is high-600's, can we get a home loan? |
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How do they choose which credit score to use? Experian, Equifax or TransUnion?... |
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 Help!Pending forclosure No sale date Yet........what is the next best move? |
| I am working now $43/hour 32 hours a week as a Nurse, the investor (Wells Fargo)will not work with me at this time (was not able to keep on repayment plan one time last year), I own my home owe $158,... |
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 How long do you have to own a house before you can get a home equity loan? |
| My husband and I are in the process of buying our first home. We got a great deal on the house at 1/2 the appraised value. How long do we have to own the house before we can take out a home equity ... |
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 When should I buy a house? |
With all the news on house prices at the moment, is it a bad idea to buy a house?
I'll probably have enough to pay at least 20-40% upfront but is there a good chance the value will go ... |
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 When selling a house through a Realtor, how long is the contract for? |
| Ive had by house up for sale by owner with no bites. Im thinking about putting it through a realtor but was wondering how long it would be up through that realtor?... |
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| Were can one go to apply for a government grant to buy a home. and if there is some were how long does it take |
| i need help buying my home i live in have bad credit so i thought that there might be some kind of grant program that can help. it can be some kind of loan i could pay back i dont want it for ... |
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Breaking Dawn | Is it a good idea to let your tenant, who is struggling, rent for free for a month or two? |
They pay 1000 a month, they are a family of 5 (two adults, 3 children). The father works only, but he had a disk herniation, and couldn't work for a year about 2 years ago..He's still a couple thousand dollars in debt, and I was considering letting the family stay for a month or maybe two for free. I was just wondering, if I do this, could any problems happen?
Thanks. |
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J. Philip Real Estate
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That is a very kind gesture, but as sincere as the people may be, you could be opening a Pandora's box. Freeloading renters often start out with the best intentions, and will often invoke a kind remark or willingness to be lenient in eviction court. Would they be as cool to you if you didn't fix the furnace or electricity for a month or two? Doubtful, right? That's why this is a business and has to be viewed as such.
Evidently, you don't absolutely rely on the rent to make or break you every month. But if they take advantage of you, a year without rent might be a different matter.
If they are otherwise good tenants and they absolutely cannot pay at this point in time, you'll either evict them or make another arrangment with them. If eviction is out, rather than forgiving the rent, which sends the wrong message (you are, after all, in business with them and not a charitable benefactor), you should defer the rent until they get back on their feet.
Make an agreement with them in writing that in consideration of their problems and your willingness to be helpful, that they will make a payment plan to repay the deferred rent at a later date when they are in better shape. That is being a good business person without being cold-hearted. |
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65% water
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It sounds like you are a very kind person. Unfortunately, it rarely pays to be kind in a business situation. Presumably you still have a mortgage payment to make, so you are putting yourself in a bind if he doesn't pay the rent.
If you do want to make some arrangement with them, sit down and figure out what works for all of you and get the details in writing. |
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lil_pengwen
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I agree with that Kinsey person. If you do anything, you could defer payment for 2 months until an X amount of time, but put it in writing. I don't think you should just let them stay for free. Or perhaps they could not pay for 2 months, but then increase thier rent to $1100 or $1050 per month until the 2 months that they missed is made up, but make sure you get it all in writing... never make any arrangements verbally. |
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Pamela_1988
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If you own the apartment and you dont owe anyone else then theres nothing wrong with letting them stay. That a difficult situation.Its not like there young single people who go and waste there money of alcohol, drugs etc. Try putting yourself in their shoes, It would be difficult to move out. Youre doing something thats good. You never know, you might get rewarded for it in the most unexpected way in the future.
If you want to you can help or look for cheaper rental accommodation suitable for them. |
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Elaine K
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I wouldn't. You never know, it could be something they expect everytime they are short rent money in a month. I know you feel bad, but you can't do this. At most, you could redraw up the lease and take $100 off of it for the remainder, but don't just let them live rent free. |
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goz1111
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In my opinion not the way to go if you are in the business of landlording, why do you feel in two months they will be able to pay the rent?
If you do not care about three months rent in your pocket, tell them you will give them until the end of June to pay or move, in exchange you will not move for eviction and ding their credit, then hopefully you can have a new renter by July
Look at this point why would you believe by July or Aug they will be able to pay rent?
It must be nice to owe the property free and clear but you still have expenses tax, insurance etc so you will be losing monies if you let them stay |
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Classy Granny
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I wouldn't. You may find yourself struggling if you don't have the income from them. There must be agency's that can help family's like them. Offer to help them find one. |
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m.pagin
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It would definetly be a good deed! But make sure they don't take you for a ride... |
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pdanusis
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It depends on your tenants. Before the surgery was he paying on time? Also he could be on short term or long term disability. I would just ask him when he thinks he can pay you and go from there. If he has insurance, great. If he does not have insurance, you may have a problem. Maybe a relative can help him to pay for him until he is back on his feet. |
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KinseyAnne
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I wouldn't let them stay for free, but I think if they are in good standing with you and you wanted to defer rent payment to a later date, I think it would be very kind of you. I would, however, get it in writing that you are owed the money and expect to be paid within (x) amount of time. |
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