Good afternoon Rushikesh,
I’m no real estate agent, just a humble Mortgage Banker, but I can give you some guidance on your search for the right rental apartment.
In my experience in the real estate trade, I’ve discovered that the consumer is best served by adopting some simple strategies, whether you’re buying a home, selling one, or renting an apartment.
First: remember that real estate agents work on commission. The better quality agents---and those with the most experience---will be testing you from the initial contact to determine if you’re serious and will commit to using their services. Why? Because real estate is like any other business; you don’t sit at a table in a restaurant to read the menu without actually buying food at some point. It’s the same concept: the experienced real estate professional has to earn a living by renting apartments to serious and qualified prospective renters.
Therefore, the smart consumer should be well-prepared and committed to respecting the real estate professional’s time. Prepare yourself with three fundamentals: amenities, location, and price.
Know your requirements for the apartment you wish to rent in terms of amenities (one bedroom versus three bedrooms; elevator building or private house), location (proximity to public transportation or need for parking), and price. If you present yourself as well-prepared you’ll have a better chance of working with an experienced agent who will work hard to find you the right apartment.
Second, start with the internet---especially TRULIA.com---but stay “local.” Here on TRULIA.com you can easily find a local professional by clicking on “FIND an AGENT” at the top of this page. There you can hone in on a seasoned professional in exactly the area where you wish to rent your apartment.
TRULIA provides exceptional tools to help you as a consumer understand the quality of the professional you’re working with. Read the agent’s profile; check out the recommendations from previous clients; get to know the level of experience of the agent and the areas that agent covers.
Third, real estate agents are prevented by Federal regulations from answering certain types of questions. They cannot discuss schools or school districts, crime statistics, and a variety of other issues prohibited by Fair Housing regulations. If your agent is vague when you ask certain types of questions, now you know why.
Finally, demonstrate your level of seriousness to your real estate agent. Show up on time for your appointments to view apartments. If you’re required to submit documents for the Landlord to review with your rental application, get them into your agent’s hands pronto. Not only does this help you potentially get one step ahead of a competing renter, but you’ll be viewed by the Landlord as a responsible renter. Landlords prefer responsible renters, don’t they?
I hope that helps you improve the results of your search for an apartment, and helps you with a better quality experience.
*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!... more
As a Landlord owning and managing over 50 units, I can tell you that we have one of the tightest rental markets in the country largely due to several colleges in the area coupled with stiff building codes. When I place an ad for an apartment, I will get between 30 and 50 replies, usually within the first 3 hours. It is impossible to call everyone back which is why we usually just schedule n open house.
With that said, it is actually easier AND CHEAPER to buy. If you would like to explore that option, I would be happy to meet with you and explore the options. I know how unsettling it is to not have a place to call home. I can be reached on my cell at 802-238-0064
You are wise to wonder. Rental listings are frequently fraudulent. Under no circumstances should you ever mail money to anyone. You need to have them meet you at the property and show you the home. If they make any excuses as to why they can't then you should head for the hills as they are trying to scam you.... more
Top in what regard? There are teams and individuals, volume, and unit sales. By County, town, state? In residential, Investment sales? for the year, quarter or month? To give you a firm answer, I believe that Nancy Jenkin's team, from Prudential Realty Mart probably sold the most homes last year in the state. Also on the list are Geri Reilly's team from Coldwell Banker Hickok and Boardman, Adam Hergenrother's Team at Green Mountain Properties, Bill Desautel's team at Remax North. and Carol Audette's team at Lang. It is hard to know for sure as year end numbers are not in. I will boast that I am the top seller of Foreclosure sales in the state. Let me know what you are looking to do, and I will be glad to assist, or point you in the right direction.... more
Thank you for your inquiry. We have several Neighborhood Tours on our web site with multiple photos and detailed community descriptions. You can look at Appletree, Claire Pointe, Harbor Watch, Northshore, Strathmore and Southwind in Burlington and The Landings in South Burlington. You can sign up for a Listing Manager on our web site that will notify you whenever any properties come available within your selected criteria. If you contact me privately, I would be happy to email several listings to you or you can search the entire MLS through our web site at CatamountRealtyGroup.com
Catamount Realty Group
600 Blair Park Road, Suite 205
Williston, Vermont 05495
(802) 658-3210... more
Call around to a couple of lenders. Northfield Savings Bank is good. You should still be on the residential side of lending (as opposed to commercial), but my guess is you're going to have to have a reasonable down payment.
Seller contribution to your closing costs, or "cash back at closing" might serve as a bridge.... more
It depends on your local regulations, but most likely you cannot dissolve your association (check with a local real estate attorney). The problem you would have without an association is who pays for a new roof when you need it, who takes care of the yard and driveway maintenance, What happens if someone doesn't pay their share of the water bill, etc.
Obviously this is going to be a problem anyway, since you aren't paying dues and keeping a reserve fund. However, at least with the an association in place, what happens should be in writing somewhere.
You may have difficulty selling either way, because banks have gotten extremely picky on lending on this sort of property. I would recommend talking to a lender and asking them what would it would take to make this property easier to lend on, and follow their advice. Implementing condo fees and starting a reserve fund is probably a good idea.... more
Most of VT is eligible for USDA Rural Finanicng, which offers 0 dwon and NO PMI. You need to sit down with a mortgage broker and discuss your options.
I am a mortgage broker. If I can be of service, please let me know!
877-238-6324 Ext 704
At the heart of your question is a matter of fairness and law. As a broker it appears you are in an unfair situation, where one family has unreasonable control of the association. Regarding the law, you should take this up with a local attorney. Not the issue of the windows, that's only a symptom, but the way the association is set up where this one couple has unreasonable control.
A real estate attorney can review your association agreement and advise you whether it's legal or not and how best to proceed to bring it into a more fair arrangement. Sorry I can't be more helpful than that.... more
Go to 48 University Terrace and see if you can rent a spot. It's a nice house in a pixed fmaily/college side streeet but it's not nasty like downtown. It's right near L+L. Also, the frat house that is on south prospect, taking a left off of main if heading down to the waterfront, I think rents out spots. If you are a hot girl, you get a better price than as a guy. I don't knwo if they are still renting spots, but they were two years ago. Good luck!... more
This is a great question and one which should be answered by your attorney. If the association prohibits 100% ownership, then either an amendment to that requirement or a dissolution seems in order. In that case, you would be creating a duplex under single ownership. That can be a desireable property to market under the right circumstances. It is a good time to sell and buy; please call us if we can assist you with your marketing efforts.... more