The new owner should be buying the property 'subject to' your lease. All the terms of your lease stay in effect exactly as written. So, if you are leaving the property in the same condition as you found it, you should get your full security deposit back. If there is damage to the property, beyond nornal wear and tear, then you will be responsible to pay for the damage. Nothing really changes.... more
Don,
Most insurance companies cover cover homeowner's and rental owner's policies but if yours does not, there are many which do. As an owner of a rental property you want to be covered for the usual items, such as floods or other damage, which your homeowner's policy did along with liability coverage for any incidents which may occur in your unit from the tenants, such as falling or their guest falling, tripping, etc. The tenant should also have a renter's policy which covers their personal possessions which you do not have to cover. A good agent is Joe Giamanco and he can be reached at 858/513-0005 or email at jgiamanco@farmersagent.com.
I hope this has helped and should you have other questions, please contact me. I am the Broker/Owner of Chase Pacific Property Management and can be reached at 858/922-3720 or email of chase1947@aol.com.
Thank you,
Cheryl Chase-Berkson
Broker/Owner
Chase Pacific
10636 Scripps Summit Court, #101
San Diego, CA 92131... more
It will help if you have a written lease as that clearly states the terms of the rental. If you gave him the 30 days notice on Mar 16th, then he can stay up to April 15th, if he pays the rent for April. The rent for March is applied to the 30 days of that month. If he does not want to pay rent for April and wants to move out on April 1st, it will be better to just let him go. He's a lawyer and knows that you'll have to go through the process of eviction, so you can get him out of your home. This is a lengthy process and you'll need to hire a lawyer to represent you, so it's not worth your time and trouble, if the two of you can not get along.... more
Hi, your best bet is to hire a reputable Property Management Company. They take care of everything for you....price evaluation, listing,and management.... and saves you the hassle. I am happy to recommend Management One Group. They have done a fantastic job for a lot of my clients.
Lorena Petersen
LorenaP@RealtyOneLV.com... more
The public's perception of realtors is all glam and mercedes and prada.You can have that real estate.I'm gonna show up in jeans and a t-shirt. Cute but not crazy expensive.I'm gonna show you how to keep
Read more
Are you coming to Orange County for vacation? If so, there are websites for vacation rentals of private homes. One you can check out is www.airbnb.com which offers swaps, room and house rentals for vacationing people from all over the world.... more
It doesn't matter. That's irrelevant.
You lease the house based on what the comps in your neighborhood rent for. If you price it higher than that (to cover more of the expenses, or to get a larger return on investment), it won't rent. It's that simple. And, obviously, you don't want to underprice it.
So: Do research. Look both on sites like Trulia (or Realtor.com) and on sites like Craigslist to determine what similar houses in your area are renting for. Also, I kind of like http://www.rentometer.com That's what you can rent it for.
From that figure, you can then determine whether the monthly income will cover expenses. And if it does, what the (positive) ROI is.
But there's no average. You may have bought your home in 2000 for $100,000. Your neighbor may have bought the identical home next door for $200,000 in 2006. You and he are able to rent your homes out for the same amount. He can't get any more because he paid more.
Real investors--who go out and run the numbers before buying--do have desired minimum rates of return. It might be 5% or 10% or whatever. But that's not your situation. You've got the house. Your investment is already determined. And the amount you can get for rent, whatever that is, is pretty much set. So: Definitely work the numbers and figure out whether you'd be losing money, breaking even, or making money. (Don't forget to factor in things like vacancy--allow 8.5% of income--and maintenance--generally around 1% of the value of the house annually, though that'll vary.) But the numbers are the numbers and it's too late to work toward an "average" rate of return.
Hope that helps.... more
Brandon is a popular area due to its proximity to downtown Tampa, all amenities it offers and it does seem to be a preferred area for military families.
Since February 1st there have been 62 single family homes rented in the area and almost all of them were rented for full asking price. If there is any other information you require, feel free to ask.
Debbi Tinker
Keller Williams
813-263-0932... more
Submitted by sdsu.edu/realestate and Published in their Spring 2012 Newsletter The Corky McMillin Center for Real Estate, The Real Estate Society of SDSU, and working real estate professionals in San
Read more
By Neil Fjellestad and Chris De MarcoFBS Property ManagementThere are fundamental investment mistakes made by rental owners that can unravel the potential return and negate the inherent safety of the investment.
Read more
Take a quick look. FBS Property Management operates rental properties (houses, condos and apartments, commercial) for responsible independent rental owners in 69 zip codes throughout the San Diego reg
Read more
I have asked Ted Kimball to regularly share some of his legal insights on important issues that arise in the ongoing operation of rental properties (single homes, individual condos and apartments). These
Read more
By Neil Fjellestad & Chris De MarcoFBS Property ManagementSome renters prefer a month-to-month rental agreement citing the high unemployment situation in San Diego or their personal current concerns
Read more