Autumn Brooke
Does Deposit Change on Lease Renewal With Increased Rent?
26 June 2024 | 2 replies
For example, if the previous last month's rent was $1,000 and the new rent is $1,100, you would request an additional $100 to cover the increase.Update the Agreement: Ensure that the lease renewal includes a clause that reflects the new last month's rent amount.Refund and Repay:Refund the Previous Deposit: You can return the last month's rent from the previous lease to the tenant.Collect New Last Month's Rent: Then, collect the new last month's rent at the increased rate as part of the lease renewal process.Steps to Take:Review Your Lease Agreement: Check the current lease agreement to see if there are any specific clauses regarding the adjustment of last month's rent upon renewal.Communicate with Your Tenant: Inform your tenant about the rent increase and how it affects the last month's rent.
David Lee Hall, III
Painting a rental single color
29 June 2024 | 27 replies
It has a little reflection because it is one up from flat.
Rajesh Sharma
Permits/Licenses for rental SFH in Maricopa, AZ for out-of-state investor
27 June 2024 | 5 replies
a) You will need to file a nonresident Arizona income tax return that reflects the income you earn from your Arizona rental.b) You will not owe TPT and don't need to set up an account to deposit it.
Mary Jay
Do you rent to people with bad credit?
26 June 2024 | 17 replies
When I see a credit history like this, I may ask some questions to gauge the applicants level of responsibility but I will consider accepting them because I deem that they don't have enough of a credit history for their score to be reflective of them as an applicant.
J. Nicci Coffie
How to Create a New Lease When Renewing a Long-term Tenant
27 June 2024 | 4 replies
You will simply need to reflect in the new lease what the deposit is and that it was paid already. 4.
Jason D.
Unneeded Repair Letter Request Letter from Tenant
28 June 2024 | 13 replies
Furthermore, please see the attached report from the City of _______ which reflects the inspection you requested revealed no defects in the property whatsoever.
Joe S.
Lease option question for Texas
25 June 2024 | 1 reply
For landlords, lease options can attract tenants who are committed to the property and may take better care of it.Commercial Property Considerations: When considering a lease option for a commercial property in Texas, ensure that:The terms of both the lease and the option agreement are clearly defined and legally binding.Both parties understand their rights and obligations, including maintenance responsibilities, payment terms, and conditions for exercising the option.Consult with a real estate attorney to draft or review the lease option agreement to protect your interests.Here are some things that may help you form a pros and cons list going forward:Advantages:Potential for higher rental income due to the option premium paid by the tenant.Attracts long-term tenants who may eventually purchase the property.Allows flexibility for both parties in uncertain market conditions.Considerations:Ensure the option fee and terms are fair and reflect the property's market value.Understand the financial implications and tax considerations associated with lease options.Be clear about the tenant's ability to exercise the option, including financing requirements if they decide to purchase.Lease options can be a viable strategy for commercial properties in Texas, offering flexibility and potential benefits for both landlords and tenants.
Don Davis
1400 Copper Point Drive Prosper, TX 75078
25 June 2024 | 0 replies
Upon entering, you are greeted by the soaring ceilings, a set of winding stairs that mirror each other & marble flooring that offers you your reflection, all working together to draw you into the experience of breathtaking views while you delight in the detailed architecture.
Brandon Harris
Will I have a title issue?
24 June 2024 | 2 replies
Obviously my ID/drivers license doesn’t reflect that address.
Giles D.
Syndication deals gone sour and the GP is now radio silent! What can I do?
28 June 2024 | 100 replies
What he wrote here indicates he actually doesnt have any background in financial analysis, and doesnt understand that the cash flow, or cap rates are a reflection of the risk.