 I rent and the garage broke. Who pays? The landlord or me the tenant? |
| I have been renting this house for 2+ years. After coming home from a long day at work, I pushed the button on the garage opener and it seemed to be having problems, I push the button again, the ... |
|
 Is it illegal to put satellite dish in low income apartment ? |
cause our manager is saying you should not put satellite dish in the apartment.
but were not putting is on the roof we are putting in the backyard
Additional Details
but it's ... |
|
 When purchasing a home who normally pays for the home appraisal? the buyer or the seller? |
| my fiance and i r trying to buy his late grandmothers home and have run into a bit of a dilemma. "The Aunts" had a comparitive market analysis done, but our bank wants a copy of an ... |
|
 Can the landlord turn off the heat in your apartment? |
It is summer but it has been low 50's at night were I live and has gotten very cold. She shut off the heat for the summer, is that legal to do?
Additional Details
I have no contract.... |
|
 I just bought a house and they did not take their stuff yet.? |
| I just bought a house and they did not take their stuff out yet. How long should I give them to get it out. Is the stuff in the house legally mine? Thanks in advance.... |
|
 Landlord walks in without you knowing. what to do? |
| i came out of my bedroom and found him in the middle of the living room. are thy allowed to do that or can i shoot him as an intruder?... |
|
 Explain second mortgage? |
| Some people get a second mortgage on their house. HOw can they if the house aint paid for?... |
|
 Where in the US is land the least expensive? |
| looking for a website or facts that would tell. acerage residential land, not commerical.... |
|
 My friend was telling me about this real estate thing she was doing, basically she is saving people houses? |
| she basically find houses that people are losing i think she said she finds them in the newspaper and she finds real esate investors and she checks loans amount and how much she owes on the house and ... |
|
 If I buy a home and 5 years later, the neighbor has an atty. write a letter to inform me to remove.........? |
| my side porch because it is on her property, what are my rights? I guess that the porch was built 30 years ago and somewhat on her property. Than I buy it. What are the laws in Pennsylvania? Is ... |
|
 Is there anyway i can get a council house? |
Hi,
im 31, am british and have been paying tax all my life. I have no savings and have around £300 disposable income every month. It will take me about 10 years to save a deposit and even ... |
|
 My landlord said i have to get my deposit from my old landlord..? |
| i rently moved out of an apartment, its been more then 30 day , i finelly got a letter from the landlord saying they dont have are deposit that we have to find the old landlord, the old landlord we ... |
|
 At What Age Did You First Get Your Own Place? |
| How did it feel? I've yet to experience that yet, but I cannot wait until I do.... |
|
 What is the diffrence between a 'Flat' and an 'Appartment'? |
I've always wondered, not sure if its the same thing just diffrent names or what really.....
Thank you ... |
|
 I have a very bad credit and need to buy a house? |
| My father is paying for this home, He is the only one in the mortgage.....Can he add me to This Contract and then in a few months after paying on time every month, just remove his name from the ... |
|
 Advice for person moving out? |
| i am 23 years old with a son who is 5 and i regretfully say this but i live with my annoying nagging mother who i have always lived with. i also go to college full time. i have never moved out and ... |
|
|  |
sally b | Is it legal for an agent to hold back rent from a landlord if the tenant has paid it? |
Is it legal for a renal agent to hold one year's rent from my tenant? I am a landlord and because my tenants are from overseas they have required that they pay one year's rent up front. The agents are holding this money and paying me my 'monthly' rent. Why should they receive the interest from this huge sum? The money isn't theirs! Loop holes or grounds for argument please. |
 |
 
Landlord
|
I can't think of any reason they should keep it. As you said, it is not their money.
Call the agents broker, I am sure that is all that will be needed.
If the broker brings no joy contact that real estate board for your state. |
|
glenn
 |
What is your written agreement with the rental agency? That is what would determine what they are allowed to do with that money.
If I were the renter I would want to be assured that the owner/landlord would be making the payments over the next twelve months. The rental agent may feel they have some obligation to protect the renter in this case. By holding onto the balance they are prepared to refund money to the renter if the house gets foreclosed and the renter gets kicked out even though they have paid the rent. |
|
fwh
|
Technically speaking the interest belongs to the tenant.
They are required, as part of the agreement, to deposit one years rent in advance out of which you receive monthly payments. Any interest earned by the money should be returned to them.
Advance payments such as this are required to be placed in an account which, in the event that the rental agent should cease trading, the money would be protected and not form part of his/her assets. This also applies to monies paid as a bond. |
|
Allen B
|
If you as a landlord had asked for a year in advance the interest would be yours.
As it was their request then the interest is theirs. |
|
christina c
|
the money legally belongs to you. by withholding this money the rental agent is in fact stealing from you especailly if they are holding the money somewhere where they are making interest on it. you do have legal right to sue them for this money and the interest they are receiving from it. talk to a lawyer to find out what rights you have in the state in which you live. |
|
maaaanda.
 |
can you cancel your contract with them? that would mean they'd -have- to give you the money, right? |
|
?
 |
I believe that each state has it's own statutes . In Oregon it is all business, at least on paper. The landlord may owe them fees. It should not affect you since you paid the authorized representative. the law is on your side if it gets to court. You win you get several months free rent or something close. I had an agency that collected for the owner and she kept several months and skipped. There was no record of my rental. |
|
Caine7SFG
|
The money is as much theirs as yours, it belongs to neither of you, it is the tenants.
The fact that you requested 1 year surety because of lack of trust, makes me wonder, what do the tenants get to say you are trust worthy? It is not like you have given them anything they are legally entitled to sequestrate in the event of default.
If the tenant entered into the contract with you via themselves(AGENT) then they have a moral duty to protect their reputation as well as the tenants deposit.
If you are being paid your rent, then do not worry what others make,as long as you make the profit you expect.
How you conduct business with your agent must have been pre determined by contract I presume, if so, request to see the contract.
The big thing is this, all to many landlords like to hang onto deposits for reasonable damage that can usually be attributed to wear and tear.
Also, landlords have the advantage of being able to evict, having a huge amount of money owned by a tenant is not good, if you renege on repairs or other promises or requirements, the tenant has no room for manoeuvre as you hold such a sum that they cannot afford to loose..
|
|
amberowl28
|
If you and the tenants agreed and signed up to this then yes it is entirely legal. I suggest you find new agents or deal with tenants yourself. You are not missing out on any money but your tenants are missing out on the interest. It's them who should be complaining however if they agreed then there is nothing you can do. Read your contract with the agent carefully. If the tenants didn't agree to be treated this way then they might have a case and you should advise your tenants to take legal action |
|
Jäger
|
I don't see how it was "required" for the tenant to pay a whole year up front. I would also think that any funds held in escrow are to be in a non interest bearing account. If not, the interest should go to the tenant seeing it's their funds until it's released to you.
I would definitely check the contracts, get with the rental agent, ask questions and perhaps get a lawyer if you find no answers. |
|
Miss Typo!
|
well if ur getting ur monthly rent then whats the problem, this is betweeen the agent and the tenent.
if they were happy to pay a years rent then thats up to them, they prob have an agreement with the agent that they get some money back if they leave within the year or something, but thats between them. |
|
Nickleback
 |
Have a good look at your contract. Contact your local Citizens Advice Bureau too. Maybe even a solicitor. |
|
I Buy And Sell Houses
|
As the others here state, read your contract with the rental agent. At what point are funds to be transferred to you?
I'm not a lawyer, so this isn't legal advice. And I also don't have a copy of your lease. So what follows is just speculation. However....
Despite the other advice here, under most leases the money is yours, not the tenant's. That is, most leases say something like: "Tenants agree on a one year lease in the full amount of $12,000, to be paid in monthly installments of $1,000." So, most leases require payment of the full amount; it's the landlord's from day one. As a convenience, payments are spread out. Sounds as if your lease simply omits the second portion regarding the monthly installments. And that's OK. They agreed to lease the property for a year, and they paid for a year. Unless there's something to the contrary in the lease, the money is yours.
So, that's the grounds for your argument--assuming that's the way your lease reads.
As for loopholes, we come back to the agreement you signed with the rental agent. Again, I assume there's something in the agreement requiring prompt transfer of funds from tenants to owner. Unless there's something in the agreement requiring monthly allocations of the funds, then you ought to be on solid ground to ask/request the money that has been paid, but which you have not yet received.
Again, I'm saying all that without seeing your documents, and I'm not a lawyer. You may want to consult with a real estate attorney. (Not a plug, but you might also want to consider some service like PrePaid Legal. That'd be an appropriate question for a service like that, and would be affordable, too.)
Hope that helps. |
|
tanika971
|
what does the contract say? they maybe within their rights, check it out |
|
?
|
I'm assuming that this agent is a realtor. Look at your contract with the rental agent - they would not be able to hold back the full amount had you not signed something to that effect. You provide far too little info to give you a loophole. |
|
Edd S
|
If monthly payments is what you require than you are getting your due and jealousy over what the guy is getting for his facilitating service is not a factor. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
16 | 30 minutes(s) ago
| | | |
16 | 55 minutes(s) ago
| | | |
16 | 1 hour(s) ago
| | | |
16 | 3 hour(s) ago
| | | |
16 | 6 hour(s) ago
| | | |
15 | 11 hour(s) ago
| | | |
16 | 2 day(s) ago
| | | |
16 | 1 week(s) ago
| | | |
16 | 2 month(s) ago
| | | |
16 | 6 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
