Landlord Home Insurance

Posted on January 13, 2011 by Jake

Landlord insurance is especially designed for owners who intend to rent out their property.  It is very well known as buy-to-let insurance

Landlords need an additional and more comprehensive insurance to cover their rented property which is regularly not covered under homeowner’s insurance.  Thus it becomes important to check out and see if ones current homeowners’ policy does cover renting out your property to others. If your homeowners insurance does not cover rented property then you need to obtain additional landlord insurance.

Landlords, generally insure the civil structure and the permanent fixtures and fittings of the home, building, dwelling etc. but in certain cases they may include the contents inside the residence.  If the landlord does not offer furnished accommodation then they need not take out content insurance but this is always a recommended option.  Very often, the landlords do not want to cover what is inside the property because they are unaware about the contents and are often worried that their tenants might submit some type of false claim.

One should insure rented property against damages with advice from a financial adviser/insurance broker. Thus, in certain cases the landlords ask the renters to have some sort of renters insurance to protect the property within.  If the property is stolen or damaged, the tenant may get some compensation and the landlord also is not liable in anyway.  Landlord insurance generally covers everything under homeowner’s insurance policy as well as the damages caused by the tenants even if the damages are caused accidentally or deliberately.  Liability cover is also an essential aspect of landlords insurance because the damage or claim by tenant purposefully may prove to be extremely dearer.  Thus insurance is one of the best way to protect your investment.

Generally speaking the policies may differ between providers but by and large they cover up the following.

DAMAGE:  First and foremost, the landlord insurance covers property from damage like fire.  One should provide an accurate estimate of rebuilding otherwise you will have to shell out your own money for repairs.  You should read out the details of landlord insurance policies, what it covers and what it does not cover.  Some policies do not include natural disaster like floods.

LOST RENTAL INCOME:  If rent is the only source of your income and if by chance it becomes uninhabitable for months by fire or any other damage then the rent is reimbursed.

LEGAL COVER:  If there is a dispute between the landlord and tenant then all the legal costs will be taken care of by the insurance.

LANDLORD LIABILITY COVER:  This protects you from large compensation claims caused by accidents like ill-fitting carpets or light fittings.  Depending on the insurance, the policy may also cover medical expenses if injury is caused to the tenant.

HOME EMERGENCY COVER: If the rented home suffers the loss of an essential service like electricity, water, or gas then you can fix the problem quickly with no extra cost.

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What is the Residential Tenancy Act?

Posted on January 13, 2011 by Jake

The Residential Tenancy Act commonly known as RTA clearly defines the right and responsibilities of landlords and tenants of residential properties.  The Residential Tenancies Branch governs and administers and is responsible for “The Residential Tenancies Act”.

Whether landlord or tenant, each one should know their rights and responsibilities.  One person’s right becomes the other person’s duty.  Landlord and tenant disputes, misunderstanding, issues are inevitable in property managing business.  The landlord should have a keen understanding of the tenant’s rights.  If legal action is to be followed then it should be under strict guidelines in terms of procedure and time frame.

This type of act applies to the residential-rental properties in the state, area, or province and exactly outlines the guidelines of how landlord-tenant relations should be governed.  Their primary function is to protect residential tenants from rent increases and eviction.  They establish a framework to regulate the residential rent and maintain a balance and harmony among them.

RTA is the trump card.  Any kind of tenancy agreement which conflicts with the RTA is not valid.  The rent increase and eviction procedures should be in accordance with the guidelines outlined in RTA and must be strictly followed even if the tenancy agreement states otherwise.  For example it is illegal for a landlord to ask for post-dated cheques from a tenant even if it is mentioned in his agreement.

The rent increases are carefully monitored by the RTA.  However, the landlord can charge whatever he wishes for a vacant unit but after the tenant has moved in, he has to wait for at least twelve months before raising the rent.  Thus in this manner, any increase in rent should be at least twelve months apart.  The landlord has to give ninety days prior written notice to the tenant and inform him about the increase rent.

The provincial government body establishes guidelines for the annual rent increase.  As for example the government decided that in 2007 the landlords can increase the maximum rent by 2.6%.  If a landlord wants a raise in this rent guideline, then he must apply to the Landlord and Tenant Board for permission.

The Board can grant permission for repairs and renovation, ongoing maintenance, cost of security service, etc.

The tenant has full rights of privacy.  As per RTA, the landlord has to give a written notice to enter the place between 08:00 a.m. and 08:00 p.m. even if it is to do with repairs or inspection.  But in case of emergencies the landlord can enter without prior call.

If the tenant has given a notice to move or agreed to terminate rental agreement then the landlord can show his property to new tenant but he will inform the present tenant when the showing will take place.

Thus RTA helps to make the landlord and tenant relationship more professional.  It provides and alternative, affordable, and speedier mechanism in resolving disputes between landlords and tenants if at all they occur

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Why is it Important for Tenants to Keep Good Relationship with Landlord?

Posted on December 29, 2010 by Jake

             Every landlord is given a chance to comment on the tenant’s behavior of paying the rent. In this sense, the landlord can either reward or penalize the tenant for behaving well or for being fraudulent in some ways. When the landlord decides to pass on the rental payment history of the tenant to the consumer reporting agency, an agency responsible for collecting and furnishing history details of tenants, the particular tenant then automatically posses a record that is viewable by anyone upon request. Future landlords can even refer to this data and judge if the applying tenant is with good conduct or with deceitful manners of paying. The power seemed to be on the landlord’s side. But it could not be abused because the consumer reporting agency investigates first if the reported incident is factual or not.

                The main factor that urges the landlord to report credit performance of the particular tenant comes in two reasons. First, if any dispute had arisen due to the tenant’s deceptive actions. Destruction of the rental property can also urge the landlord to report the present tenant for misconduct and even fraud when the tenant refuses to pay for the damage. In some cases, when the tenant fails to make timely payments, he or she will get evicted on the rental property. The landlord then reports the incident to the consumer reporting agency for further reference of other landlords that the certain tenant is capable of performing deceitful acts. On the contrary, if the tenant observed to honor the rental agreements as noticed by the landlord. The landlord may wish to adversely affect the tenant’s consumer report for such actions. Doing so, the landlord can add positive information to the tenant’s credit report.

                Consumer credit reporting agency gathers all possible data regarding fraudulent tenancy claims, as filed by the landlord. These data are stored in a database for further reference by other landlords. The collected information is not free of charge. Some charges are applied when requested by other landlord, creditors, and other group of people that transform themselves as a group. The service is extended to all concerning parties that has a legitimate business need for the information. All of the provided information is assured to be accurate and non offensive to recorded tenants. The service done by the consumer credit reporting agency is very useful to all concerned parties who wanted to check the background of the applying tenant or creditor.

                The significance of reporting the tenant’s fraudulent actions is to assist everyone who encounters the person, as a tenant or a creditor, which he is not capable of returning the goodwill and trust given to him. On the other hand, if the comment is positive towards the reported tenant, it will somehow back him up for faster processing of transactions.

                It is important for the tenant to act well and be responsible enough for the agreed monthly payment. Because it is the tenants who are often founded to be erroneous, landlords wanted to make sure that the applying tenant is with amity and responsible enough to repay the trust being given to him.  

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More Information on Rental Laws

Posted on December 29, 2010 by Jake

It is a known fact that US is compose of 52 member states. The states are following the comprehensive provisions of the rental laws and it execution and implementation of them in the federal, provincial or county level, implementing rules and regulations are created. Most of the laws in the local level are statutory and common laws. It seeks to smoothen and ease out future and arising problems faced by landlords and tenants regarding rentals. In the US, the laws in rental vary from state to state.

In Michigan, property owners in the city of East Lansing are required to seek the city official’s permission to rent their own property. The town government’s rental laws are mandating rental inspection. This manner is spreading in the whole state of Michigan that significantly confiscated lots of private property rights with onerous Rental Housing Ordinance. At present, their rental laws even require additional types and numbers of fees and inspections, and the heaviest is the utilization of the City’s own rental housing lease addendum. The law is frightening property owners since violations will connote a sum of $500 daily fines for those who will violate. The city of East Lansing is implementing an eleven points that addresses the following: License, Occupancy, Sleeping rooms, parking, trash and recycling, noise, party litter, grass and snow, pets, neighbourhood associations and many others… Any violation in each aforementioned concept will mean sanction and the fee.

In Connecticut, a law dubbed as the Connecticut Public Act 96-74 passed in year 1996 provides specific tenant duties and sanctions once the rented property will get ruined. In section one, it clearly states that tenant will be guilty of criminal damage of landlord’s property in the first degree if such damage is intentionally afflicted to a concrete party of the property. Any tangible part of the property must not be damaged if the tenant has no reasonable ground to believe that the latter has the right to perform so. He will be held liable if the damage will amount to $1500.00. In the same act, tenant will be guilty of criminal damage in the second degree if the damage will exceed the amount of $250 so it will be sanctioned with class A misdemeanour. This rental laws existed to clarify the extent of damage to the property. It also aimed to conduct necessary arrest only when there is probable cause.

There are states also that are implementing the Americans with Disabilities Act. In applying for a building permit for retail and residential areas located in mixed-use zones, persons with disabilities should be granted with convenient access and so on. Disabled person must be given ample considerations in structures, may they be private or even public ones.

Rental laws are following statutory and common laws per state. Most of the provisions are intended to serve the interest of parties involve in the rental industry. It must be deemed respected because most of them are for the benefits of landlords and tenants. There are sanctions and criminal punishments for violators of the rental laws.

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Common Rental Laws

Posted on December 22, 2010 by Jake

We can consider the rental industry as a formal business that are protected and covered by various rental laws. Both landlord and tenant have rights that are strongly protected by these laws. In this article, we will tackle some new laws implemented by states, with main focus in the State of California.

As California’s population is increasing with numerous numbers of migrant workers and immigrant families from various parts of the globe, rental is the automatic option. The rental industry is growing together with industrial and commercial developments of the state. With this, legislators are finding ways to make renting a smooth-running business. Backed up with unifying clamours of tenants and landlords to have something to abide with, significant provisions in federal statutes are chiselled and refined.

The rental laws in California keep on refining to the extent perfection. One is on security of the tenant. Once, a tenant has occupied the premises, he or she is required by law to put deadbolt locks to all entry areas of the rented place. Another example is the new law implemented in California that allows property owners to collect application or credit check fee on the limitation that the fee will not rise above $30.00. The owner or the landlord will then provide  his/her prospective clients or tenants with an itemized receipt for the fee. This is done upon request only. This is not compulsory.

One California rental laws also provided for day care notification requirements. Day care operators will notify the property owner or the landlord of the child care operation. With that, the owner will charge the maximum security deposit, even twice the amount of rent, without fear on the discrimination claim.  This can be done if the prospective tenant is a family with little children who are going for a day care services.

In addition to, the new California law also provides relief on utility charge. The local municipality utility companies are refrained from putting lien on the property owner once the tenant or resident has vacated the promises without paying the bills on utilities consumed. The law requires that utility companies should collect the bills or debts straight from the user or the tenant. However, to avoid the fuss of stalking, the rental laws allow utility companies to enter into agreement with user before commencing the service.

In 1999, California Assembly Bill 860 stopped landlords to prohibit tenants from keeping a pet. To disallow pets in rented premises are curtailed. However, it was recently announced that despite the lease term on pet prohibition, the lease should well state the landlord’s acceptance of rent with proper knowledge that the tenant has a pet. In addition, it must be stated in the lease provision that any violation of the lease did not waive the violation because the violation could only be waived when put in writing. The court of law will rule out that the landlord is entitled to possession of the rented premises.

The rental laws have common themes. No matter if they vary from state to state, province and county, the common and statutory law prevails in protection to rights of landlords and tenants alike.

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Learn Your Rental Laws!

Posted on December 22, 2010 by Jake

Real estate is a growing industry of all time, particularly in US that is highly developing. The most immediate resort of people doing businesses is to rent buildings or spaces to conduct businesses into. This is very true when the business owner is just starting out and incapacitated to by his own land and construct structures therein. Renting is also the option for workers, students, families who are either hired, studying, or migrating for work and study in a far off state that going home from daily job is impossible. In resorting to rentals, there are rental laws that need to be respected by both the landlord and tenant.  

While rental laws in almost all states has teeth to smoothly guide the landlord-tenant relationship, the basic of it all is that federal law prohibits discrimination in housing and the rental market.  Meaning, no matter if you are black or white, affluent or not, gay or guy, a woman or lesbian, Christian or Islam, the rental laws are allowing the rental to be executed.  As long as there is the interest to rent and the capability to pay for the rent, no landlord should disallow the rental on the ground of discrimination. The laws are very specific from suggested and plain rate brackets, deposit schemes, and others. Most statutes are granting protection for tenants and it has many provisions that guarantee protection for landlords as well. There are certain laws, however, that allow policies done by the building or house owner like the concern on pets, and others. 

In California, they allow pets. It is guaranteed under the Assembly bill 860 of 1999 that allow the state’s residents of condos, planned unit developments, mobile parks, and any other form of common-interest housing to keep and house pets, as well. Even if there is management regulation that do not permit pets in the vicinities and within the premises of rented units, the law will prevail. In 1998, the same was passed in the Assembly as legislators ponder to the demands of the people. If in case, an individual has some health problems that can be triggered by presence of pets, that individual will be freely forced to live in pet free housing.

Furthermore, under Civil Code 1941.3, the state law requires rental property to install and maintain a deadbolt lock that is operable for every door of the occupied unit. This part of the rental laws are for security reasons accorded to the tenants. In cases of utility services, the California law also stop municipal utility companies from placing lien on the property if the resident has vacated without settling utility bills. The law required utility companies to directly collect the payment of bills to the tenant or user, and not to the building or house owner. And in order to prevent this problem to arise, the utility company is allowed to enter into security deposit agreement with the tenant or user before servicing her or him.

The rental laws are clear when it comes to strengthening the rights of both parties involve in the rental industry. It is therefore safeguarding and protecting both the landlord and tenant.

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Information on Rental Laws

Posted on December 20, 2010 by Jake

Are you a medium-scale entrepreneur who is planning to rent a place for business purposes? Or a bachelor or newly-wed couple who wants to build a home of their own through renting a shelter?  While occupying the place, which is not totally yours, is as easy as imagined, there are rental laws that you must abide with. There are certain restrictions and duties to perform if you enter into lease agreements. However, if landlords are protected by the laws, tenants also enjoy full protection of it.  

The duties proscribed in the statutory law and common law is the bases in founding the landlord-tenant relationship. Provisions to be contained in the lease are normally regulated by the statutory law. When we speak about statutory law, we are referring to laws being created and pass by the Congress or the elected political representative of the constituents whose jobs are to legislate important laws. The very basic in certainly all leases is the implied covenant of peaceful enjoyment. The covenant is a sure protection for tenants that deal on a secured occupancy. In this covenant, a tenant cannot be interrupted by a person holding superiority right, such as a land title, and this include landlord. Once a breach on the covenant of quiet enjoyment occurs they are then determined as to whether the breach is actual or constructive. Constructive eviction refers to the act of a landlord that is causing the premises or the property unliveable.

The United State Housing Code provides assurance that residential rental units are liveable during the time of the occupancy of the tenant or for the period of the rental. Violations to the Housing Code may arise into administrative action, but it depends on the state where the violation happens. The rental laws ensures that all residential units intended for rent are habitable and they are provided with warranties of liveability as prescribed by the rental laws, whether it is based from the common or statutory law. If violation to the laws occurs, it may resort tenants to withhold the rent, execute constructive eviction, repair the problem and deduct the cost of expenses from the rent or recover the damages of such breach.

The national rental laws, such as that Housing code, guarantees that right of the tenants in the aforementioned statement. Unless stated in the lease that may be defined as a breach, landlord may pose disturbance to the peaceful enjoyment of the tenant if the reason is for payment of rentals. It is the tenant’s innate responsibility to pay the required rent.  Other state laws is providing logical and reasonable rate once there is the absence of rental price provision. For commercial leases, the rent is measured in accordance to the total sales of the tenant. It can be part of the total sales or a percentage from its entirety.

In all cases, the acceleration of the rental rate causes tenant to have payment overdue and this is absolutely common to residential or commercial leases. If the tenant fails to meet statutory provisions, summary eviction rental laws apply. However, a sell-help eviction is not allowed. Tenants cannot also withhold rent if it is done after the culmination of the rent. In same manner, landlords cannot also evict a tenant if the purpose is to enforce a provision of the lease agreement.

 

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Rental Laws

Posted on December 20, 2010 by Jake

For newly- wed young couples, renting a house where they can build a home is a major option. Home rentals are best options rather than living under the same roof with parents or in-laws.  While saving for resources to allow you to buy an own abode, you can enjoy temporary shelters offered at rates that suits your budget. However, renting a place does not just come without any responsibilities or obligations. In the US, there are rental laws that need to be respected. It is worthy to get acquainted with existing legal policies before resorting to rentals.

In 52 states in the United States of America, there are varying rental laws in every state. Although there are national statutes that serves as the cohering whole of the rental laws that all member-states are following, each federal government has implementing rules and regulations to fit the law into their respective localities. It is very true, you can discover differences if you will hop between state to state for dwelling. You can sense significant differences from Alaska to Wyoming and so on.

Now, what are the so-called rental laws all about? It is the set of laws that govern the rental of either residential or commercial property. Primarily, it consists of both statutory and common laws. In the US, there are many states that are basing their statutory law from the Uniform Residential Landlord and Tenant Act or the Model Residential Landlord-Tenant Code. More often than not, the federal statutory law is the major factor during national or regional urgent situations and are designed in order to avoid any form of discrimination.

Actually, the legal landlord-tenant relationship is with basis to the two kind of laws, which are the contract law and the property law. For a given period, say months or years, he tenant has a property interest. Once the tenancy becomes periodic or long term, tenant will then have the full right to own the land and will gain the right to disallow landlord in entering the sublease or totally leased real property. Of course, there is an option that the tenant or landlord may agree to set borders and limit the aforementioned rights. Normally, the agreement between the landlord and the tenant will then be put into a formal lease agreement document. The lease agreement may be subjected to concepts as provided for by the laws on contract.

Generally, the relationship between the landlord and tenant is certainly based on the duties, responsibilities and obligations proscribed by statutory law or the common law. The provisions indicated in the lease are regulated by the statutory law. In negotiating for the creation of the contract, the tenant or must ensure to take into account the implied covenant of quiet enjoyment. This is the basic feature of the lease agreement, which ascertains that the tenant fulfil his full serenity during occupancy without getting disturbed by an individual or people with higher legal documents like title of the land. The prohibition of tenant disturbance is applicable even to the landlord.

Rental laws may be very comprehensive, but they are easy to understand. The basic comprehension is derived on respect by landlords to the tenants while the lease is reeling, and the other way around.  

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Eviction in Virginia

Posted on December 19, 2010 by Jake

Eviction in the state of Virginia can be done on the basis of a writ which can be filed for possession under the unlawful detainer category of eviction. The category allows under the 8.01 – 470 and 472 code of the Virginia state for which an appeal for 10 days can be submitted. On the lapse of which eviction can be carried out by the Sheriff authorizing him to physically remove or eject the belongings of the tenant from the rental premises. Rental premises can rightfully be occupied by tenants until the landlord appeals for eviction under compassionate grounds. Ownership of land and the right to occupy the owned land gains more preference over the right of the tenant.  However, if the tenant is uncomfortable with the unlawful access to the landlord which amounts to repeated forceful entry which is unreasonable and even though lawful from the point of view of the landlord, amounts to harassment , the tenant may appeal for injunction for abortion of the act or for the termination of the tenant contract. If the harassment is proved to the court, reimbursement of attorney fees and actual damages may be claimed by the tenant. The landlord in turn also can appeal for an injunction in case of obstruction to lawful access by the tenant.

Change in the tenancy may be brought about by the landlord at any point in time, the terms of which can be added or removed at the will of the landlord; clauses such as eviction at short notice can be included as a case in point by the landlord. The landlord in conjunction with the section of tenancy contract 55-248.11 must make clear the presence of any molds that the dwelling he has rented may in any part of it be infested with. Upon an absence of documentation regarding the same, the tenant may or may not take possession of the area. In case of possession of the dwelling, the landlord must within 5 working days rectify the condition failing which the tenancy contract may be terminated.

Lease agreement may be terminated within 15 days of notice in case of nondisclosure of vital information regarding the site of dwelling being in a noise or accident prone zone, particularly if the information provided has been disclosed by an officer or an employee residing in the locality and who is other than the landlord.

As mentioned in subsection A 10 of 55-248.16, Subdivision 3, 6 and 7, the landlord is responsible for maintenance and upkeep of his dwelling in accordance with the housing codes and provides safe and habitable conditions of living free of molds and moisture. The tenant in turn would substitute for the landlord as mentioned in subsection A for activities such as maintenance of cleanliness and safety of common areas and provision for garbage disposal between two dwelling units. If heat air-cons and hot water have been installed such that the controls of which have been provided by the direct public utility department of the locality or with the tenant directly, then the tenant is responsible for its up keep. A written agreement between the tenant and the landlord may be made regarding these.

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Eviction Forms for New York

Posted on December 18, 2010 by Jake

Tenant and landlord relationship is a symbiotic, mutual relationship, mutual because of the fact that tenants needs landlord to obtain a safe and decent place to live in during their stay in New York City. On the other hand, landlords are seeking out tenants to fill their apartments, rooms or flats in order to gain renters or occupants. This relationship is a give and take relationship which has existed since feudal times where tenants farm the lands and give tributes to their noble landlords in return the landlord makes sure the tenants and the land he is toiling is kept safe from raiders and robbers.

Tenant and landlord relationship is a strenuous relationship if both parties could not agree on terms, in the land of freedom which is the United States of America freedom is expressed in rights. Everyone has their own rights; as tenants have rights on spaces they choose to rent, landlords too have rights on the properties they levied to tenants for a certain length of time. These  mutual rights that both parties would usually claim,  cause disputes between landlord and tenants  which is  very common .Legal battles usually have unpleasant and unsatisfying outcomes, which could led a to the ruin of the tenant – landlord relationship.

Every so often, tenants find themselves in situations beyond their financial capacity resulting to non-payment of rent. In the State of New York or for most part of the world every tenant is obliged by the landlord to sign a rent or leasing form which would guard the rights of the tenant and landlord alike. Within this form is the amount which the tenant is obliged to pay the landlord, whether monthly, quarterly or annually. In the event that the tenant could not comply with this obligation, or is deliberately not paying his or her rent due, the landlord will have the right to give notice of the violation giving the tenant three days to comply with rent obligation. If tenant does not comply, then an eviction notice would apply which would fall in the Pay Rent or Quit form of Eviction.

There is still another event where tenant can be given an eviction notice by his landlord that will fall in the Lease Violation Notice of Eviction. Such event would arise if the tenant would violate the leasing requirement, which she or he have signed during the initial negotiation and contract signing with the landlord. Leasing gives certain rights to the tenant regarding the use and occupation of the leased space or apartment. Requirements, rules and regulations are being laid before the tenant in written contract for legal purposes and for the protection of the rights of both parties. Rules like no pets allowed, and no illegal activities apply to most urban leasing contracts, and violation of these rules gives the landlord the right to seek an eviction of the tenant.

Demand for Compliance or Possession Notice and Lease Termination or Vacate Notice are notices issued by the landlord in connection with the act of evicting the tenant. Most importantly, no eviction could be executed without any evidence that the tenant has been notified of his or her violation of the tenant-landlord lease agreement. It is the right of the tenant to be notified of any violation, which would give the tenant ample time to cure or resolve such violation committed.

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