Last week, I began answering a reader’s questions about lease agreements, specifically about the minimum contract a landlord should consider, what should be included in the contract, and whether a contract is even worthwhile. I reviewed all the issues covered in our lease agreement. This week, I’ll get into the addendums we use—some we always use; … Read more
While I like the idea of confirming an agreement with a handshake rather than a contract, I’ve seen a few too many handshakes turn into fisticuffs to recommend them, especially when the agreement involves an asset worth several hundred thousand dollars. This week’s column is dedicated to answering questions from a reader about how to … Read more
Last week, I introduced Environmental Site Assessments and the cost to address any issues found (called remediation): Phase 1, Phase 2, and Phase 3. I reviewed the first phase, so this time I’ll review the last two phases. As a brief refresher, the whole reason for the assessments is to determine whether a property is … Read more
Before I jump into the topic of who pays for what on a rental property, let me say that contracts trump all. If you sign a contract that gives away your rights or requires you to pay for uncommon expenses, it doesn’t matter what’s “typical.” You have to comply with the contract. When you own … Read more
Hey, I had the opportunity to give away another one of my Schat’s Bakery gift cards with this column, since it was in response to a question from a reader. The reader asked, “What are the costs and benefits of hiring a property management company to deal with my rental property, and what’s typically required … Read more
The real estate market continues to evolve into a seller’s market. Prices are up, inventory is down, and buyers outnumber sellers. However, if you would rather rent than buy right now, here are some tips on how to be a savvy renter. Find a property that fits your needs. You can find places for rent … Read more