®
Allan Ho
REALTOR
REALTOR
Call me or email me and I will make arrangement for you to look at the rental properties. The rental company pays me for the service and it is free to you. So put me to work for you! Call me at 757-497-8733 or email me at allan@allantherealtor.com
I have prepared some rental information for you as references. Please take a moment and visit the links
I have prepared some rental information for you as references. Please take a moment and visit the links
allantherealtor.com
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Security Deposits
Often, landlords include a requirement in their leases that their tenants pays a "security deposit". This deposit is to help make sure that you will pay rent and that damages caused by you will be paid for. So, if you miss a rent payment or cause any damage to the home, the landlord can make deductions from the deposit to cover those costs.
However, the landlord is required to provide you with a detailed list of the deductions made. Generally, the landlord can't take deductions for normal wear and tear, such as worn carpet paths, but the landlord can take deductions for burned or pet-stained carpets, however. Any balance must be returned to you, usually within 30 days after the lease ends.
It's a good idea to have pictures of the premises, or a list of pre-existing, known damages as soon as you moved in so you have the proof that you did not do the damages.
Often, landlords include a requirement in their leases that their tenants pays a "security deposit". This deposit is to help make sure that you will pay rent and that damages caused by you will be paid for. So, if you miss a rent payment or cause any damage to the home, the landlord can make deductions from the deposit to cover those costs.
However, the landlord is required to provide you with a detailed list of the deductions made. Generally, the landlord can't take deductions for normal wear and tear, such as worn carpet paths, but the landlord can take deductions for burned or pet-stained carpets, however. Any balance must be returned to you, usually within 30 days after the lease ends.
It's a good idea to have pictures of the premises, or a list of pre-existing, known damages as soon as you moved in so you have the proof that you did not do the damages.
Buying or Renting?
It depends on your situation. If you have been paying $1,000 in rent, then you would have been paying $12,000 a year or $36,000 in three years. If you have been paying $1,500 in rent, then you would have been paying $18,000 a year or $54,000 in three years. You would have been paying someone else's mortgage plus a profit.
So what should you do in such situation? Mortgage rate is at 3.75% favorable rate currently as of November, 2011. The market trend in Hampton Roads is positive. Look at the last few years of City Assessment ! Many neighborhoods have stabilized and some actually started to see an upward trend. Although there are some neighborhoods still seeing a downturn but the drop has slowed down in many ways or actually stop and remained the same in comparison to previous year. LOCATION! LOCATION! LOCATION! You need to ask yourself this; am I able to obtain a mortgage and start looking into a good buy with good equity to begin with such as a short sale or a foreclosure? If you think it is time for you to take a look, then what you need to do is contact a lender for a pre-qualification of a loan so that you know what to look for in the real estate market. Call me and I will take you step by step and locate your dream home.
It depends on your situation. If you have been paying $1,000 in rent, then you would have been paying $12,000 a year or $36,000 in three years. If you have been paying $1,500 in rent, then you would have been paying $18,000 a year or $54,000 in three years. You would have been paying someone else's mortgage plus a profit.
So what should you do in such situation? Mortgage rate is at 3.75% favorable rate currently as of November, 2011. The market trend in Hampton Roads is positive. Look at the last few years of City Assessment ! Many neighborhoods have stabilized and some actually started to see an upward trend. Although there are some neighborhoods still seeing a downturn but the drop has slowed down in many ways or actually stop and remained the same in comparison to previous year. LOCATION! LOCATION! LOCATION! You need to ask yourself this; am I able to obtain a mortgage and start looking into a good buy with good equity to begin with such as a short sale or a foreclosure? If you think it is time for you to take a look, then what you need to do is contact a lender for a pre-qualification of a loan so that you know what to look for in the real estate market. Call me and I will take you step by step and locate your dream home.
