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Finding A Likable Tenant | 7 Traits Landlords Want From Renters

Finding A Likable Tenant | 7 Traits Landlords Want From Renters

Dealing with people is a lot of work that requires dedication, patience…and a lot more patience. The same goes for landlords who have seen and have been dealing with all types of tenants – the good, the ideal, and the problematic. Most lessors hope for the best in every family who shows interest in renting their property and often hopes for the landlord/tenant relationship to get a good start.

But some tenants, maybe due to past experiences, expect the worst start and prepare to start the relationship with their guard up. Some are new to leasing a property, they have no idea how to act; while some have had bad experiences before.

Despite the existence of many lenders across the different cities and states, there are still individuals and families who rent houses for different reasons, often financially driven. According to the National MultiFamily Housing Council (NMHC), out of 118,208,250 households in the country, 35% of it or approximately 43,701,738 are renter-occupied properties.

What Landlords Look For In Tenants

New York we buy housesAs a renter, we expect to find the best place to settle in and expect a good relationship with the owner right from the start. Now, let’s take a look at the landlord’s point of view when looking for new rental occupants. They want renters who:

#1 Listen to instructions. When the owner gives special instructions about turning off the air conditioner when no one is at home or check the gas tank from time to time for leaks, keep it in mind and do it. These instructions were given for a reason so you should adhere to them, especially if it concerns everyone’s safety.

#2 Report maintenance needs right away. If there is a broken pipe, a window with a loose hinge, peeling paint, or a clogged drain; landlords should know right away. They can’t fix the problem they know nothing about unless they pay a visit and inspect the house.

#3 Care for the property. Every property is of value. As much as lessors value their homes, they also value their rental properties. When their renters put in extra effort to take care of the house, the landlord/tenant relationship will flourish.

#4 Follow rules. Rules are made to be followed. The Do’s and Don’ts will be explained together with the lease contract. Once there is an agreement, tenants are expected to follow it.

#5 Read the lease contract. It is important to read the lease contract. Everything is laid out in that piece of paper and renters can always turn back to it when disagreements or issues occur. There are different kinds of lease contract and each is explained here.

#6 Socialize with neighbors. It’s not necessary to get friendly with all the neighbors in your block. But be sure to get to know the closest neighbor and keep a friendly relationship with them. Friendly neighbors often equate to a peaceful neighborhood.

#7 Pay on time. Business is business. The main goal of the landlord is to get paid every month for the lease. Once the contract is signed, the leasers are responsible to pay on time, unless there is a valid reason. It’s best to talk to the owner if there is a financial struggle.

When They Decide To Sell Away

Property owners who have been in the rental business for years are more experienced in handling problematic and non-paying tenants. But even with experience, some issues do not get resolved right away and some matters just don’t have resolution except to part ways. And when a property gets too many problematic issues and tenant complaints, it is sometimes wiser to sell it to a we buy houses NY company.

SellAnyHouse NYC is a home buying company located in New York City which specializes in fast and easy home selling. Unlike the traditional method, in New York, we buy houses in exchange for a fast and fair cash offer. There is no transaction or closing fee, guaranteed! Get to know more about our speedy process today!

2017-05-04T04:30:38+00:00 May 7th, 2017|Categories: Bad Tenants, Sell Your Home Fast|Tags: , |0 Comments

When A Lawsuit Threatens To Take Away Your Property

When A Lawsuit Threatens To Take Away Your Property

As law abiding citizens, facing a lawsuit isn’t a usual occurrence in our life. In fact, most of us will never have to worry about hiring a lawyer, responding to a judgment case, appearing in court, or looking for evidence to prove innocence.

But what if you receive a notice saying that a case has been filed against you by a debt collector? Imagine dropping your favorite coffee cup after reading such out-of-the-blue yet shocking letter.

In a press release issued by the Federal Trade Commission dated March 2016, debt collection complaints is on the top spot in the complaint categories. Some 897,655 consumer complaints or 29% of the total number were about unpaid debt.

While this could be frightening news, the best way to handle it, after the adrenaline rush starts to wear down, is not to panic. There are positively doable ways to handle the matter. Get through this ordeal and learn how you can protect and defend yourself at the same time.

Respond | Verify | Prepare | Defend

we buy houses New YorkDon’t complicate a simple debt collection case, but it doesn’t mean you have to be complacent about it. There is a step by step action course you can follow through to make sure the case doesn’t go out of hand.

Your Response

For every question there is a corresponding response. The complaint case needs a proper response from you. From a post in creditinfoceter.com it says:

The most important thing you can do is to Answer the Complaint by the due date. Once you’ve identified the paperwork that constitutes the complaint, you must answer it. You merely reply by stating whether or not you agree with the statements in the complaint and why. You must do it quickly, you only have 20 to 30 days (depending on your court) to answer the complaint. If you do nothing, you automatically lose and the collection agency has a judgment against you.

Seek a lawyer’s legal advise if you are unsure how to respond or what to write in your response.

Verify The Complaint

Demand to see the original signed agreement and detailed balance sheet of all the payments and deductions made. The debt collector’s documentation may not be adequate since it is possible that the record have been passed down several times before being bought by the collections agency.

It is important that you can verify the amount being collected, compare it with your own records (if you have one), to any receipts in your possession and your own copy of the agreement. Anything you can use to question the validity of the debt is useful when the case progresses.

Prepare Your Next Action

Also from the same post in Credit Info Center, additional action plan has been provided.

Many courts will let you handle everything through the mail. There is no need to take time off of work to personally file your answer. Send everything certified mail, return receipt requested; one copy to the court, one copy to the lawyer representing the Plaintiff.

Another good idea is to include a self-addressed stamped envelope and one extra copy with your answer to the court. In some cases, if you made a mistake in your answer, they will let you know immediately. If nothing else, they will send you an endorsed-filed copy of the filing so you know it was entered. One of our readers received a hand written note from the clerk asking my reader to call so the clerk could help correct the filing.

Your Defense

In this last step, it is important that you still seek the professional advise of a lawyer. They are the most knowledgeable body to help you win the judgment case. There is no replacement of the legal steps they can guide you with. For an in-depth discussion of this matter, refer to this link.

On the other hand, still from the same post, additionally it says:

Most often you will be presented with exhibits (documentation which serves as evidence) in the case file, such as credit card agreements and affidavits of debt. Usually you can object to this evidence and get it thrown out of the case based on hearsay. If you are successful getting this evidence thrown out (struck from the records), the Plaintiff will have no evidence against you. If they have no evidence, they cannot win.

When A Lawsuit Threatens To Take Away Your Property

When Things Get Out Of Hand

What if finding the right lawyer and hiring one does not fit in your budget? What if you’re burnt out after dealing with several other debt complaints? What if you had wished for an escape plan from all of this and start fresh somewhere else?

Well, running away from a debt you owe isn’t really a solution. It could only worsen the situation. However, here at Sell Any House, we can offer applicable solutions that may clear off the muddy puddle you’re in.

We are a home buying company specializing in providing alternative options for homeowners struggling with low home values, bad tenants, no equity, or with an unwanted house that will not sell.

If you are willing to downsize to come up with the needed funds to settle the debts, let Sell Any House help you with your “sell my house fast in NYC” need.

We care. We listen. We provide help any time.

2017-03-16T20:26:13+00:00 February 17th, 2017|Categories: Behind on Payments|Tags: , , , , |0 Comments

Negative Equity | Top 5 Ways To Rebuild Your Home Equity

Negative Equity

Top 5 Ways To Rebuild Your Home Equity

Home Equity is defined as the market value placed over a house after the remaining mortgage payments. It builds up over time as the property owner continues to pay off the house loan.

This is a pretty straightforward explanation of the term but what goes beyond the definition is a complex process, where property owners struggle with a depreciated equity due to a sudden decrease in property value in an area or an outstanding mortgage that is more than what the house is worth.

In a CoreLogic (a leading global property information, analytics and data-enabled services provider) report, by the first quarter of 2016 there is approximately 4 million or 8 percent of all houses with mortgage have no equity.

This situation seems bigger than the local weather report in early mornings. The fact that homeowners are facing a financial crisis involving their homes and the possibility of losing it, requires more attention and helpful guide on how to deal with no equity properties.

The Disadvantage Of Negative Equity

we buy houses NYCWhen news about the real estate market value dropping in some areas break out, you must find out if your area has been affected by the drop. If it is, then most likely, the value of your property may have dropped as well. This is not a cause of concern if your mortgage is still within the price you bought the property for.

Have a local real estate agent take a look at your home and find out its current value. If it turns out that you are “underwater”, then this could lead to some serious repercussions on your repayment agreements.

If you wish to refinance your mortgage, perhaps to get a more suitable refinancing plan from your lender or get a cheaper deal, the lender may not grant this request. Most lenders doesn’t allow homeowners with negative equity to change into a new mortgage deal. Find out how you can refinance with FHA in this article.

Other disadvantages include:

  1. The possibility of paying early repayment charges on the existing loan.
  2. Selling the house might not be possible.
  3. Extra fees and charges my be incurred.
  4. Only a few lenders offer refinancing a mortgage.

As hopelessly difficult as it may seem, there are ways to rebuild the value of your home.

Top 5 Ways To Rebuild Your Home Equity

Top 5 Ways To Improve Home Equity And More

Dropping Mortgage Balance

By diligently paying off the mortgage each month, a portion of the interest and principal loan is being paid off. This will help you improve the home value of your property.

Bigger Mortgage Payments

By paying more than what you owe each month, the added amount will be applied to the principal loan. Bigger loan payments equal to gaining home equity a lot faster.

Paying Off Twice a Month

Talk with your lender. Ask for a compromise and set up a biweekly repayment plan (if this is possible with your current cash flow). Once you make 26 payments throughout the year, this will trim down the repayment term, which eventually helps you save up on the interest rates.

Cutting Down the Mortgage Term

Shorten the payment terms. Cut it down to 20 or 15 years. Although this means paying up more on your monthly obligation, but you can negotiate for a lower mortgage rate, plus building back your equity much faster.

House Prices Eventually Increase

If you’re lucky enough to be in a booming community, there is a greater chance that the value of your home will increase on its own, dragging up the equity with it. You wouldn’t have to exert so much effort in this case, however, it could go the opposite way as well.

Invest More on Down Payment

Putting in a larger down payment means you can outset the automatically acquired home equity, which leads to a lower loan-to-value ratio and lower interest rates.

Proper Maintenance

Keep your house well preserved and properly maintained. When it is time to sell the property, keeping it in a good condition will give you a better shot at having a higher home value.

When It Is Time To Sell

All the work you have poured into your home will come to fruition when it is time to move out. Either through the traditional method or a fast “sell my house NYC” alternative route, the fact that you were able to rebuild the equity is an achievement worth commending.

At Sell Any House, we offer alternative solutions to homeowners in need of a fast home sale. We have been helping New York homeowners let go of an unwanted house in as little as 5 days. May it be about relocation, retirement, behind on payments, or or legal matters, we buy houses fast.

We understand the urgent need to sell a house right away minus the hassle and stress that comes with it. Get to know more about our fast house buying process and practical alternative solutions from one of our real estate investors today!

 

2017-03-16T20:09:33+00:00 February 16th, 2017|Categories: Home Equity|Tags: , , , , |0 Comments