Tenant Rights

Tenant rights can either refer to the rights tenants enjoy by law, or to the movement to acquire such rights. Tenant rights generally seek to protect renters from landlord neglect and unfair eviction, as well as secure fair, affordable housing.

Laws dealing with the landlord-tenant relationship vary greatly between jurisdictions. These laws may provide some or all of the following for tenants:

• remedies for bad conditions
• privacy protections
• protection from landlord retaliation
• protection from exorbitant rent increases
• protection for the right to organize
• Just cause eviction controls

1. Bring your paperwork.

I myself have an experience when we are (NPA) "No Permanent Address"period.
The best way to win over a prospective landlord is to be prepared.
To get a competitive edge over other applicants, bring the following when you meet the landlord: a completed rental application; written references from landlords, employers, and colleagues; and a current copy of your credit report.

2. Review the lease conditions

Carefully review all of the conditions of the tenancy before you sign on the dotted line.

Your lease or rental agreement may contain a provision that you find unacceptable --

for example:

• restrictions on guests.


• pets.


• design alterations.


• running a home business.

3. Make all verbal talking in writing

To avoid disputes or misunderstandings with your landlord, get everything in writing.

Keep copies of any correspondence and follow up an oral agreement with a letter, setting out your understandings.

For example:

if you ask your landlord to make repairs, put your request in writing and keep a copy for yourself. If the landlord agrees orally, send a letter confirming this.

4. Always protect your rights

Next to disputes over rent or security deposits, one of the most common and emotion-filled misunderstandings arises over the tension between a landlord's right to enter a rental unit and a tenant's right to be left alone.

If you understand your privacy rights

(for example, the amount of notice your landlord must provide before entering)

it will be easier to protect them. For more information,

5. Always tell to them all necessary repairs needed

Know your rights to live in a habitable rental unit -- and don't give them up.
The vast majority of landlords are required to offer their tenants livable premises :

• adequate weatherproofing.


• heat.


• water.


• electricity.


• clean.


• sanitary.


• structurally safe premises.

If your rental unit is not kept in good repair, you have a number of options, ranging from withholding a portion of the rent, to paying for repairs and deducting the cost from your rent, to calling the building inspector
(who may order the landlord to make repairs)
to moving out without liability for your future rent. For more information,

6. Be open, talk to them

Keep communication open with your landlord.

If there's a problem --

for example:

if the landlord is slow to make repairs -- talk it over to see if the issue can be resolved short of a nasty legal battle.

7. Get Insurance

Your landlord's insurance policy will not cover your losses due to theft or damage. Renters' insurance also covers you if you're sued by someone who claims to have been injured in your rental due to your carelessness.

Renters' insurance typically costs $350 a year for a $50,000 policy that covers loss due to theft or damage caused by other people or natural disasters; if you don't need that much coverage, there are cheaper policies.

8. Security deposit protection

To protect yourself and avoid any misunderstandings, make sure your lease or rental agreement is clear on the use and refund of security deposits, including allowable deductions.

When you move in, do a walk-through with the landlord to record existing damage to the premises on a move-in statement or checklist.

Know the Requirements for Safety

Learn whether your building and neighborhood are safe, and what you can expect your landlord to do about it if they aren't.

Get copies of any state or local laws that require safety devices such as deadbolts and window locks, check out the property's vulnerability to intrusion by a criminal, and learn whether criminal incidents have already occurred on the property or nearby.

If a crime is highly likely, your landlord may be obligated to take some steps to protect you.

Properly Fight an Eviction Notice

Know when to fight an eviction notice -- and when to move. If you feel the landlord is clearly is the wrong
(for example, you haven't received proper notice, the premises are uninhabitable)


you may want to fight the eviction. But unless you have the law and provable facts on your side, fighting an eviction notice can be short-sighted.

If you lose an eviction lawsuit, you may end up hundreds (even thousands) of dollars in debt, which will damage your credit rating and your ability to easily rent from future landlords.

Know your rights as a tenants

Know your rights when you rent a house or apartment. Make sure the dealing is follow according to what is suppose to be with regards to your Verbal and Written admission.

Renter's Right

Get Your Security Deposit Back
Don't let your landlord stiff you -- know the law.

Most states hold landlords to strict guidelines as to when and how to return security deposits. Landlords who violate these laws can be held to stiff penalties.

Most states hold landlords to strict guidelines as to when and how to return security deposits. The general rule is that you are not responsible for normal wear and tear.

If you cause damage by your unreasonable carelessness or deliberate misuse, however, you must pay for it.




Landlords are typically required to return your security deposit, or give you an itemized accounting of the deductions from your security deposit, within 14 to 30 days after you move out.

Mortgage

A loan in which the borrower puts up the title to real estate as security (collateral) for a loan.
If the borrower doesn't pay back the debt on time, the lender can foreclose on the real estate and have it sold to pay off the loan.
A loan used to finance the purchase of real estate, generally with specified payment periods and interest rates.

A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt.

It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed.

In other words, the mortgage is a security for the loan that the lender makes to the borrower.

Short sale (of house)

A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments.

By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes.

When a property owner fails to make their mortgage payments for a number of months they are in default. The first step of the foreclosure process (which typically takes a number of months) that the lender will take is to file the notice of default.

This is a public document that is recorded. The property owner will contract to sell the home conditioned upon the lender accepting a lesser amount than what is owed on the mortgage. Note that there are no similarities between a real estate short sale and selling a stock short.

In many jurisdictions, including the United States, the seller is responsible for taxes on the amount of the mortgage left unpaid after the sale as ordinary income.

Short sale (real estate)

In real estate, a short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold.

In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor.

This negotiation is all done through communication with a bank's loss mitigation or workout department. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender, sometimes (but not always) in full satisfaction of the debt.

In such instances, the lender would have the right to approve or disapprove of a proposed sale. Many Short Sales leave a deficiency balance for which the Mortgagor / Borrower is still liable.

In 99% of all cases it is not a settlement-in-full. A deficiency balance will remain as a potential liability for the Mortgagor / Borrower.

The bank's opportunity of pursuit of a deficiency judgment will vary from state to state. Extenuating circumstances influence whether or not banks will discount a loan balance. These circumstances are usually related to the current real estate market and the borrower's financial situation.

A short sale typically is executed to prevent a home foreclosure, but the decision to proceed with a short sale is predicated on the most economic way for the bank to recover the amount owed on the property.

Often a bank will allow a short sale if they believe that it will result in a smaller financial loss than foreclosing as there are carrying costs that are associated with a foreclosure. A bank will typically determine the amount of equity (or lack of), by determining the probable selling price from a Broker Price Opinion BPO or through a valuation of an appraisal.

For the home owner, advantages include avoidance of a foreclosure on their credit history and partial control of the monetary deficiency. A short sale is typically faster and less expensive than a foreclosure.

In short, a short sale is nothing more than negotiating with lien holders a payoff for less than what they are owed, or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount. It does not extinguish the remaining balance unless settlement is clearly indicated on the acceptance of offer.

Short sales are common in standard business transactions in recognition that creditors are not doing debtors a favor but, rather, engaging in a business transaction when extending credit.

When it makes no business sense or is economically not feasible to retain an asset, businesses default on their loans (called bonds). It is not uncommon for business bonds to trade on the after-market for a small fraction of their face value in realization of the likelihood of these future defaults.