Jul 31

After spending 36 years as a consultant to property-owning firms and tycoons, 60-year-old Howie Gelbtuch decided to build his own empire.

via Empire Builder

Jul 31

Tenancy-at-will, obviously, works better for the party that plans to quit the contract and generally is unpleasant for the person who has to make an unexpected change. Sometimes both parties are ready to part and all is well, but that’s just lucky. Landlords are hurt when tenants leave during non-peak rental times. Tenants are almost always hurt because moving has both up-front costs for security deposits plus the fuss and expense of moving.

As a renter and as a landlord, I preferred annual leases. I don’t like sudden changes. However, I also like permission to sublet. As a tenant, I sublet at least once (it was an September to August lease; I left mid-July and sublet to someone who stayed the next academic year.) That’s also how I run my rental unit; my tenants sublet and it has been no problem. What do you do as a tenant or as a landlord?

via Boston.com.

Jul 31

Sorry to begin on a note of disappointment, but I sure wish you had told us that your lease specifically states that prepaid rent may be applied to rent and to any other sums due under the lease. If the lease had included a provision like this, then you would be able to use the prepaid rent to cover damage caused by the tenants. Because the lease makes the tenants financially responsible for damage, the cost to repair that damage becomes a “sum due under the lease.”

But we’ll have to assume that you didn’t specify how the prepaid rent could be used —

via Janet Portman

Jul 31

When one falls victim to a down housing market, putting the house up for a short sale is always better than being foreclosed on.

In a down housing market, or when a person falls into a situation where their personal housing market is down, circumstances may lead to having to sell the home.

When a home cannot be sold for what is owed on it, then homeowners must engage in a short sale.

via suite101.com.

Jul 31

When dictatorship is a fact, revolution becomes a right. - Victor Marie Hugo

Jul 30

“Unfortunately when knocking on somebody’s door, that’s always a dangerous proposition,” he said. “But I’ve had several instances where I’ve been threatened with a gun, threatened with a pipe, with knives, with machetes. Sometimes people do desperate things to keep what they believe to be their home, and it is their home, but a lot of times, unfortunately, they take it to the next level.”

via CityLimits.org.

Jul 30

According to HAMP, there are 364,077 “active trials”, down from 467,672 last month. There is still a large number of borrowers in limbo since only 235 thousand trials were started over the last 5 months. I expect another large number of cancellations in July.

via Calculated Risk

Jul 30

More Americans are searching for apartments in 2010 than they have in previous years. Despite ongoing challenges facing the rental industry, Apartments.com and its sister website ApartmentHomeLiving.com marked the first half of the year with record growth.

via RISMedia.

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