We own a rental property and are starting a new lease with new tenants.
Obviously as owners we would like a one – two year lease.
But we also are looking into purchasing a home and would like the option to sell our rental property (in order to pay down our new mortgage). Is there an exception clause we could put into the lease that would allow us to sell it (without the new owners accepting the lease)? Is that legal or are we trying to do something illegal?

My husband and I are from Toronto, and are interested in purchasing a townhouse in Naples as a family vacation home and rental property. The townhouse is new and is being sold by the builder. How is the real estate market in Naples? Is it less affected by the sub prime problems? Have the property values in Naples fallen as much as in other cities in Florida?

Typically there are many Americans, especially from the northern states who take a winter getaway to the Caribbean, Mexico, or Hawaii. I own rental property in Mexico and we just aren’t getting the usual number of inquiries. It hasn’t been this bad since just after 9/11.

Assume the going market rent for a rental property is $400 per month. Approximately how much would you pay for this property if the market interest rate is 5%?

I am working full time and also running a small business. I have a property that I rent out.
If I put £10,000 of my business income towards the mortgage of the property I rent out, would I still have to pay income tax on this £10,000?
Or if I buy a partnership in another business with this money, would I still need to pay income Tax on it?
My business has very small capital, so there is enough capital allowance I can claim. Would the investment in the new Business can be claimed as capital allowance and not taxable?
I might not have made my question clear enough.
The business I am reffering to is not the rental business. Business is selling products. I understand I need to pay tax on the profit from this business.

BUT if this income is reinvested in another business (a rental property) or partnership in another business, do I still have to pay tax on this money, that is not reinvested?

Please note that I am in ENGLAND …

This afternoon (22 June), I gave my landlord verbal notice of our intention to vacate our property on the day our current lease expires. He insisted that I give him notice in writing, so I will do this tomorrow (23 June).

He is going mad about this because our lease expires on 21 July so I have actually not given a full month’s notice. I accept that he’s technically correct, but what can we do about this? We pay our rent on a monthly basis and I wouldn’t care if he chose to calculate an extra day’s rent and tack this on, but I’m certainly not paying a whole extra month.

I personally feel that he should just get over it and let it go – we have been perfect tenants with regard to paying our rent on time, and we are leaving the house in perfect condition so it can be let out immediately.
Please don’t tell me to check the lease! We don’t have a copy of it. This is because when we first moved in, my housemates and I all signed the lease but had not yet given it to the landlord, planning to make a copy of it first. However one day while we were all at work, he let himself in and simply took it, so we were not able to copy it.

I also question whether the lease is even valid or not. He got a standard agreement like you can buy in WH Smith’s, but he got one for Scotland, not England.

I am going to review the terms of a lease on rental property sometime soon. I have already asked some basic questions and everything. What are some things I should ask before I sign the lease?
I am going to read the entire lease before I sign it. Who know, I might not like all of the terms and not even bother. But if it is just a basic lease, what are some additional things I should ask? I just want to make sure I cover everything.

If I go to small claims court because my landlord breached my lease on the day I was supposed to move in and the lease was binding, as long as I have proof of damages is there anyway to lose given there’s no clause in the lease.

Basically the lease is one of those print online leases it has like 14 bullet points, it’s so general and none of the terms void his contractual responsibility.

My landlord breached my lease because he waited until the VERY last minute to find out his mortgage company will not allow him to make his primary residence a rental property. Something along the lines of him not meeting the requirements as part of a modification process some BS. So I’m set to move in and I get a email on move in day saying I’m sorry we’re going to have to void the lease you can’t move in, I was given 0 days notice and am staying in hotels currently none of which he’s paying for.

The max in my small claims court is 3k, I would be going for the max. I wouldn’t even start the process until I have a new lease in place. Basically I had a really good deal on the breached lease for 600 a month 2br 2bath utilities included. It’s not possible to find similar living conditions for that price on the breached lease. I’m willing to downgrade to a 1br but it’s going to cost like $750 plus utilities basically about 300 more a month that I would have been paying. As I understand in the event of a valid breach the rent differential in your new lease as opposed to the old lease is the responsiblity of the landlord (I’m in NJ we have strong tenant rights). Even though with storage, moving expenses, temporary living, and the rent differential I’m going to pay well over 3k (max I can sue for in NJ small claims).

I think this should be open and shut but I’m wondering if you guys see any potential flaws in my plan. I would go to court and show the judge my new lease for a year and my old lease and monthly utilties and be able to concretely prove the rent differential, temporary living expenses are given I understand.

The only legal question I would have honestly he never had permission to enter a legally binding contract until he had approval from his mortgage company. I’m worried he might try and use that in court to invalidate the lease all together. Then again, if he does try that now he’s liable to sued for fraud, and using the defense I mentioned would incriminate himself. I understand there’s no loophole for a landlord to get out of a breach it would either be breach or fraud but there’s no way legal loophole that will allow a landlord to breach a contract on move in day with my belongings practically on his door step.

Naturally the lease says to amend or terminate this lease 30 days must be given and the lease is so vague it’s funny there’s nothing covering his end here in the lease.

Does this sound open and shut and I should win the max of 3k in court as long as I can have proper documentation proving damages? My main documentation being a new 1 yr lease showing the differential I will have to pay in rent and utilities for the year (much higher then 3k).
Also I should mention the lease was in place for 3 months and I had paid first months rent and security at that time which I still haven’t gotten back yet. Lease voided on the June 15th, apparently he’s sending my security back today certified mail.
He had 3 months to find out his mortgage company wasn’t going to allow this. Rather he waited until the very last minute and tells me nothing other then sending an email on my move in day telling me he has to void the lease.
Basically I’m in this situation due to his gross negligence to act.

As I understand as soon as he found out he was in an illegal contract he should have voided it, but he didn’t he says he was optimistic he would get approval by my move in day. He didn’t even begin to tell me any of this until I was about to move in on the 15th.
Jacee, I have to pay like an extra 5-7 grand for my living expenses for this upcoming year due to this breach on move in day.

As I understand the differential in the new lease the landlord is responsible for… who should have to pay for this ME given he gave me 0 days notice to look for a new place… that’s absurd.

It is his fault for not telling me any of this, once he knew he was in an illegal contract it was his obligation to void it… he didn’t nor did he tell me the situation.. rather he waited until the day I’m moving in to tell me everything and breach the contract.
If you breach a contract you get sued. Wouldn’t it be great if you could just breach contract and not have to pay for damages. Landlords always try and defend other landlords negligence unfounded or not. You break a legally binding contract and I can’t find similar living conditions, you pay the price.
He had reason to believe they would allow him to enter the contract. Which is why he didn’t tell me anything until the move in day. Since he had reason to believe this would work I understand that still makes me lease binding.

I have $100,000 to invest in a small rental property, perhaps a Condominium. I was wondering where in the United States I can invest this money in a rental property so as to maximize my return in terms of monthly income. My friend told me that in Las Vegas I could probably invest in two condos and receive $800 a month in rent from each of them, earning me $1600 a month. Any idas here?

This would be pertaining to residents that live in Wisconsin

I own a home with a mortgage and own a piece of rental property that currently has a tenant. I net appx. 800 a month from the tenant. I could sell the rental property and pay off my first home’s mortgage with the proceeds and live in my house for practically nothing. Is it better to have the rental income and the tax deduction from the interest on the mortgage I currently pay or is it better to have the piece of mind that my mortgage is paid off and I will be able to save additional $$ towards retirement, etc.
Thanks for all the advice.
I’m a 47 y/o divorced mother of 3. No mortgage on the rental prop, good health and savings/investments are in good shape as well.

need to find web site for downloading of lease trying to rent out property client is sitting in front of me

If you own a place that you are renting out (and have a lease still in place for months to come), is there any legal way you may end the lease (NOT including if the tenant is breaking the terms of the contract eg. property damage, problems etc.).

Is there a website for people looking to buy properties for rental income? I am tired of being a landlord. I have a 3 bedroom house with tenants already in there, I just want to sell the house to someone who would like to take it over as a landlord. Does anyone know if there are websites specificaly for this?

My mother just inherited a property worth 800,000 and is thinking about using the equity to buy a second property is this possible ? she is currently unemployed but the property she inherited is rental property but the money for the rent end up taking care of small mortgage on the property.

How can she buy a second property?

I have a rental property that I purchased for $500,000.00 When i depreciate it in 27.5 years it comes out to about $18,000.00 per year of depreciation. If I keep the property ten years and sell it for $550,000, its considered $50,000.00 profit. For tax purposes, do I have to include the $180,000 of depreciation as capital gain?

My husband and I live in a very small town in Illinois. There is a business for sale here in our town that actually consists of two buildings. One building is a empty business front with some apartments above. The other building was is an icecream parlor/fast food restaurant with all equipment. These two are being sold as a package deal and will not be seperated.

My husband is the only one who works in out family of 6. I go to school, take care of the kids and house and help out at their school. We are interested in purchasing these buildings, but with limited income comes limited funds. My husband has experience running a restaurant and in very busieness savy. We also own rental property in Kentucky so we have experience as land lords.

Our question is this…is there anyway for a lower income family to get a loan or grant to purchase these properties? I am almost certain that we will not be able to get a grant because it is not a non profit business venture. THANKS!

does anyone know of how i can sell a 2bedroom mobile home with 64×85 city lot fast. it rents for 350.00 a month. renter have been there almost a year. taxes are 187.00 a year. i am asking 11,500.00
they are on a month to month. they have 30 days to move when sold. it is a 1974 but has been completely redone if interested call 740-546-2032
really need to sell property to move and dont want to use realtor i have offered to take any offer over 10,000.

I just bought a rental property at the end of November, I got tenanats in mid December. The tenants really want to buy the property from me. They have the cash to do it. But I am not sure how to sell it to them with out going through a realtor. I am sure I could make a small profit from the deal.

I plan to buy to buy a second house in a vacation area and rent it out for about 5 years until I retire. Then I’ll move into it myself and it will be my primary residence. What is the cost basis when I move in and what are the tax consequences? Thank you.