A tenant is someone who rents a property from a landlord or property owner. The tenant pays rent to the property owner, in exchange for living in or using the property. The terms of the rental are usually defined by a lease. Learn more here abotu what it means to be a tenant and what it involved in renting or leasing property.
What Can I Do If My Landlord Doesn’t Return My Security Deposit?
What can I do if my landlord doesn’t return my security deposit? My landlord sold the unit after condo deconversion but never gave the deposit back to me. Q: I am a tenant in a building that was recently deconverted from condos to apartments. Prior to the deconversion, I had rented the condo from the [...]
Placing a Lien On Property That Isn’t Owned By The Debtor – Yet!
Placing a Lien On Property That Isn’t Owned By The Debtor isn't complicated. A landlord wants to place a lien on a property, but the property isn’t owned by the debtor yet. He will inherit it at some point in the future. What can the landlord do? Can I place a lien on property in [...]
Handling Tax Issues With A Rent-to-Own Home
Handling tax issues with a rent-to-own home can cause some tension between the landlord and tenant. You’ll want to have all the details before you make your next move. Q: I’ve been renting-to-own a home for a little over a year now. The owner of the home told me he would continue to pay the [...]
Renting or Buying: What’s Really Better?
For many people, like this commenter, the "American Dream" has been to own a home. But even with interest rates at near historic lows, affordability is still a serious problem. Q: I’ve been reading your column with all the letters from homeowners who have all kinds of problems. They sound as though they’d rather be renting [...]
Landlord Nation: Who Owns Rental Property in America?
Are we now living in a Landlord Nation? If you look at who owns rental property in America, you might think that more people are renting than are owners, although that isn't the case. In addition to our primary residence, we own one and a half rental properties. That is, we own one by ourselves [...]
Transferring Home Title From Owner to Tenant
When you live in a home owned by a family member, transferring the home title from owner to tenant can be complicated. Just because you've been living in a home for an extended period of time and paying the expenses (as in this case), that doesn't make you the homeowner. Q: How do we get the [...]
Buying Rental Property: Costs to Consider
If you have the financial means, buying rental property may sound like an easy way to make extra income: purchase a house, rent it out, and relax as the profits roll in each month. Unfortunately, many would-be investors go into the home rental process without preparing a budget or fully understanding all the costs involved. [...]
Debunking the Top Five Renter’s Insurance Myths
Most of us are familiar with the saying, “There’s no place like home.” Unfortunately, unforeseen incidents, such as fire or water damage, can quickly turn your home upside down. While most homeowners have insurance to cover them in case issues arise, many renters don’t believe they need insurance. Every day, I hear from people who [...]
How to Evict Someone from Your Home—Peacefully
Buying a foreclosed home through an auction may get you a great deal on a house, but it may also come with some unusual complications--like the former owners still living inside. While the foreclosed owners do have to leave eventually, every new owner fears the worst: They may be tempted to do a little damage on [...]
Homeowners Looking to Rent Out Their Houses May Have Help
The housing market crash has left many homeowners stuck in their homes, unable to sell or relocate. Without any equity and an underwater mortgage, these homeowners have been desperately searching for relief. Recently, several companies have been seen advertising what seems like a potential lifesaver for these folks. If you are stuck in your home, but want or [...]