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Renting and Leasing
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• Before you write a check for an application fee or a deposit on an apartment, ask about the length of the lease, the amount of rent, and the amount of deposit.
• Make sure the lease specifies that water service is included, or that it is billed at the prevailing rate in the community.
• Never sign an apartment lease on the spot. Take it home with you and read it. If you don't understand something, put question marks next to the item and get an explanation.
• If you pay a deposit or an application fee for an apartment and decide not to rent the apartment, you probably will lose the money.
• Always add a clause to an apartment lease giving you the right to terminate the contract before its normal expiration if your circumstances change.
• Many leases renew automatically unless you notify the landlord that you are leaving.
• Make sure to be present for the move-in inspection, and note everything you can find wrong with the apartment. Be present for the move-out inspection, too.
• If a landlord doesn't give you back a security deposit, you have the right to sue in small claims court.
• Renting from a private owner is fine, but be aware of the danger of not being able to renew your lease, or of the owner being foreclosed upon.
• If your landlord fails to respond to maintenance requests, send written requests. If a landlord doesn't respond to a breakdown that makes the apartment unlivable, consider paying for the repair yourself and deducting the amount from your next month's rent.
• If you know you're going to be evicted, try to make some arrangements to move your possessions, either to a friend's house or into storage.
Micro-housing lets you cut housing costs in half
For people just starting out in life, it's becoming more difficult to afford a place to live. Bunking up with several roommates is becoming more common around the country. Some time ago, I talked to flight attendant who had two children recently. When her home flight base was closed, she ...
Home buying and selling mistakes
We're coming up one of the housing market’s peak buying and selling times. With that in mind, what are the biggest mistakes made by both sellers and buyers? For sellers, I find the number one mistake they make is in selecting an agent. If you're interviewing agents, don’t list with ...
Real estate investing in a post-bubble market
When most others are afraid to act...economics show that's when you should seize the opportunity. Clark discusses the "get rich slow" tack of real estate investing.
Secondhand smoke battle: Indoor smoking bans?
Smokers' rights are disappearing fast. Now some want to ban smoking inside one's very own home. Check out this story: The Orange County Register reports that a jury trial in California led to a Homeowners' Association being found negligent in a cigarette smoking dispute between neighbors in a condominium. The ...
Increase in home equity bodes well for worker mobility
Equity in homes is going up for the first time since the real estate bust began. That's a clear sign of recovery in so many places. One third of Americans who have a home now own it free and clear, according to the latest data from Zillow. The cities where ...
This is the time to buy a home
Clark usually shies away from market timing, but he's making an exception. There's never been a better time to buy a home. Here's why.
Strategies for landing a better price on rent
Rents are way outpacing inflation according to the latest data from the Census Bureau, making this an ideal time to buy if you plan to stay put for 5 years or more. The average rent is up by just about 20% on average around the country at a time ...
Can you legally be a landlord?
Becoming a landlord is tempting with real estate prices and interest rates so low. But there's one stealth factor you MUST consider before making the leap. It could cost you big bucks if you don't.
Beware the "fake landlord" scam
Renters, beware tof crooks posing as landlords and renting out vacant properties on the Internet. Here are two things to do to protect yourself if you're looking for a place to live.
Real estate flipping...is back?!
One of the most dangerous trends that led to the real estate bust is back. But this time, it might not end so badly for you. Could what's become the hot thing again become a new income stream in your life?
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