Word: renting
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...Herrell’s loyal following, it received a debilitating blow when a new competitor arrived on Massachusetts Avenue in 2007. “We lost about 25% of our business to J.P. Licks,” said Stannett. “Also, our business model in this high rent environment is not viable...
...Along with seven other men, tried to rent a U-Haul moving van in the borough of Queens on Sept...
...Crunch the numbers. In many parts of the country the rental market is soft too - thanks in part to shadow inventory like houses from Accidental Landlords. If you're paying $1,500 a month on your mortgage but can only rent it for $1,000, is renting the right solution? It could make more sense to sell the house at a loss, especially considering that rent proceeds are taxed as income. "Sit down with a calculator and really do the numbers," says John Yoegel, a real estate instructor and author of Surprise! You're a Landlord: A Guide to Renting...
...credit checks and calling past landlords and employers. "Ninety-five percent of tenant problems can be eliminated in the screening process," says Nuzzolese. Reading up on federal, state and local fair-housing law is another must-do. It's illegal, for instance, to say you'd rather not rent to a family with kids. When figuring out how much to ask for in rent, check out what other local house rentals are going for. Web sites that pull together information on rents, like Rentometer.com, can help...
...specific in the lease. A lease should detail everything from which utilities are included in the rent to whether subletting is allowed to the penalties for late payment. An addendum should document the condition of the house upon rental - a walk-through with your new tenant will underscore that any damage caused will come out of the security deposit. The web site of the Landlord Protection Agency, www.thelpa.com, has sample forms (some for free, some for purchase). Since things like lawn care and house maintenance are typically left to the landlord to handle, you might want to consider hiring...