Home Buying in Studio City>Question Details

Inga, Other/Just Looking in California

if you want to lease a townhome and the cost is 4,250. Is that what you pay monthly?

Asked by Inga, California Wed Sep 3, 2008

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Sky Minor’s answer
Hi Inga, that must be one heck of a nice townhome. I am guessing it's beach front in Malibu? The devil is in the details on renting or owning. In most cases what you pay is what is discussed with the landlord/owner/manager but make sure you understand exactly what you are responsible for paying. In such a high end property you may be obligated to pay a myriad of things, maintenence, yard care, association fees, utilities, insurance, there really is a myriad of possibilities. I'll be happy to look over your potenital lease agreement...if you invite me to your house warming party in your posh new digs!

-Sky Minor
Web Reference: http://www.skyminor.com
0 votes Thank Flag Link Wed Sep 3, 2008
Hello Inga:

It depends on where you saw the advertisement (MLS, Newspaper, Craig's List, Westside Rentals, etc.) In the local MLS, there are 3 types of cost: 1st type of "cost" is the "Move-In Cost" which usually includes the 1st month's rent and the security deposit and pet deposit (if pets are allowed); the 2nd type of cost is the regular monthly cost, which is your monthly rent and any other expenses that the landlord ask you to pay such as HOA dues. The lastly and 3rd type of cost are utility bills; while most landlords pay the water bill, some do not; so you may have to pay monthly utilities costs such as water, electric, phone, cable, etc. Make sure to ask the landlord exactly what you (the tenant is responsible for) and what the landlord will pay. Make sure it is fully documented in the lease.

As a side matter, if you are willing to pay $4,250 each month for a town-home, you may want to consider purchasing as you can own a great single family home or townhome with a monthly mortgage less than $4,250 per month and still get the $7,500 tax rebate promised through the new Housing Bill if you are a first time home buyer. Click on link below to see how you can own this year and stop paying rent!

http://www.bogunenterprises.com/Default.aspx?page=50&Lin…

Cheers.
0 votes Thank Flag Link Wed Sep 3, 2008
I would assume that is the monthly rent, you would need to ask what it includes so you know what else you are responsible for such as utilities, condo fee, taxes. Most rentals include it but some dont, so dont get stuck with any surprises. Good luck inga
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Wed Sep 3, 2008
Inga
I think your question is how much is the monthly rent? From your post I assume that it's $4,250.00,
Please post again if you have questions.
0 votes Thank Flag Link Wed Sep 3, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
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