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Rental Basics in San Jose : Real Estate Advice

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  • Local Info143
  • Home Buying867
  • Home Selling129
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Activity 29
Christine.w…, Real Estate Pro in Fort Myers, FL
Wed Jan 11, 2017
Christine.woods32 answered:
My personal opinion: you need to report those tenants. I wouldn’t like to rent my property to such tenants. So, you report will save other landlords from renting to the tenant.
If you haven’t faced with it before, the article (link is below), which has tips on reporting bad tenants, will be of a huge help for you.

And advice for the future: telling a potential tenant that you report good and bad payment histories to credit bureaus can prevent late payment problems.
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0 votes 17 answers Share Flag
Ruth and Per…, Real Estate Pro in Los Gatos, CA
Thu Nov 5, 2015
Ruth and Perry Mistry answered:
Hi Andrew:

Thanks for the question, and regret your issues.

Andrew, remember you are breaking a " Contract " there are consequences.

Negotiate with them, but they have the power to send you to collections or get a Judgement and ruin
your credit.

Worst case settle with them

Good luck

Perry
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0 votes 2 answers Share Flag
Cindy Davis, Real Estate Pro in San Diego, CA
Mon Oct 5, 2015
Cindy Davis answered:
They can certainly do this, but if you are in doubt, I suggest you read your lease agreement. Leases are legally binding contracts, something many people forget.
0 votes 1 answer Share Flag
Sheryl Arndt, Real Estate Pro in Woodland Hills, CA
Sun Apr 26, 2015
Sheryl Arndt answered:
Hello Hiep, there is currently a 2bd 1ba condo that accepts animals for $950 a month rent in Fremont and from $1,100 for 3bd 1ba condo in San Jose. The purchase in Fremont start from 224k for 1bd 1ba condo which is as low as $1,110 down payment with a minimum 580 fico score. They start from 269k for 2bd 1ba condo in San Jose which is as low as $1,350 down payment with a minimum 580 fico score.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

You should study RENT vs BUY options as you may qualify to buy with minimum out of pocket expenses and pay less than rent in many cities. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You may qualify to buy FHA with fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down or as low as .5% half percent down payment program. You may consider 3% down conventional from a minimum 620 fico score.

You will need to be pre-approved if you decide to buy to be able to meet an agent to view and submit offers on any homes of your choice. Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, home price, loan program and how much you want to invest into the down payment and closing costs.

You may qualify to buy with minimum out of pocket expenses and pay less than rent in many cities. It only takes a few dozen questions to qualify, go over your options and email you listings to study and compare. Here are some links to study as well as web reference links to many loan program pages offered...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
22+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt

If my response was helpful, consider clicking Thank, Link or Best Answer.
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0 votes 4 answers Share Flag
Carol Lin, Real Estate Pro in Cupertino, CA
Mon Feb 23, 2015
Carol Lin answered:
Hi there, the answer is yes. A real estate agent can list your house for rent, or assist clients to find a rental. The compensation is negotiable. From a few hundred dollars to half-month rent to full-month rent, depending on the amount of work. ... more
0 votes 3 answers Share Flag
Terri Vellios, Real Estate Pro in Campbell, CA
Wed Sep 24, 2014
Terri Vellios answered:
You may consider a co-signer, someone who will guarantee your rent. Be persistent. Do be very careful of rentals offered on line, there are a lot of spammers.
0 votes 3 answers Share Flag
cmef37, Renter in San Jose, CA
Wed Sep 17, 2014
cmef37 asked:
Ruth and Per…, Real Estate Pro in Los Gatos, CA
Fri Aug 8, 2014
Ruth and Perry Mistry answered:
No truth, no BRE #, then Trulia says No.

Only Agents list, old rule, where have you been?

so no listing.....you want free...then go Craislist....
1 vote 2 answers Share Flag
Sam Shueh,  in San Jose, CA
Tue Jul 1, 2014
Sam Shueh answered:
try sites that you are eligible for voucher
http://www.hacsc.org/t_voucherlist.php
1 vote 1 answer Share Flag
Nancy Chapmon, Real Estate Pro in Longview, TX
Sun Jan 19, 2014
Nancy Chapmon answered:
Judie, as a real estate professional it is very frustrating for me as well. I get calls and leads from Trulia where people think my listings are available as a "rent to own". There are ads running beneath legitimate listings saying such as that, and they look credible but are not. I know it's frustrating for consumers as well, because I talk to many of them! I do think the answer from Pierre Calzadilla explains the problem from Trulia's standpoint, and I'm glad they are trying to police this! I hope you find what you're looking for!

Nancy Chapmon Peralta
Nancy@PeraltaHomeSales.com
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0 votes 8 answers Share Flag
Terri Vellios, Real Estate Pro in Campbell, CA
Wed Jun 5, 2013
Terri Vellios answered:
www.RentOMeter.com shows somewhere around $1900 to $2000
1 vote 1 answer Share Flag
Juliana Lee, Real Estate Pro in Palo Alto, CA
Wed Apr 24, 2013
Juliana Lee answered:
I'm sorry you are going through a divorce.

Eviction can be time consuming and unpleasant and requires that you have justification(not a need). You want to avoid that if possible. If you offer the tenants an incentive they may gladly move out before their lease is up. Normally a lease automatically converts to a month to month rental if a new lease is not signed. 30 days notice is normally all that is required to end a month to month rental.

Unfortunately your decisions can also affect spousal support rulings. If your divorce has or might have support battles you might want to move to your apartment so that you avoid a battle over rental income.

95121 real estate statistics are posted at
http://julianalee.com/zip-code/95121-statistics.htm

Good luck,

Juliana Lee
Top 2 agent nationwide at Keller Williams Realty
Cell: 650-857-1000

Over 30 years experience
Over 1,000 homes sold in Santa Clara and San Mateo Counties
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0 votes 6 answers Share Flag
Juliana Lee, Real Estate Pro in Palo Alto, CA
Mon Apr 1, 2013
Juliana Lee answered:
Fair Housing normally refers to laws which have to be obeyed by everyone. (The laws specify instances such as renting a room in a house where the requirements are different)

The U.S. Department of Housing and Urban Development has what they refer to as the Fair Housing Initiatives Program. It is a program that basically provides funds to help promote and enforce Fair Housing laws.

http://portal.hud.gov/hudportal/HUD?src=/program_offices/fair_housing_equal_opp/partners/FHIP/fhip

There is also a Fair Housing Assistance Program (FHAP) which is also focused on promotion and enforcement.
http://portal.hud.gov/hudportal/HUD?src=/program_offices/fair_housing_equal_opp/partners/FHAP

Fair Housing laws specify that the source of income (such as aid) can not be used as a means to discriminate.

Juliana Lee
650-857-1000
Top 2 agent nationwide at Keller Williams Realty

Over 30 years experience
Over 1,000 homes sold in Santa Clara and San Mateo counties
.
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0 votes 4 answers Share Flag
John Souerbry, Real Estate Pro in Fairfield, CA
Wed Feb 20, 2013
John Souerbry answered:
As a property manager/landlord over the past six years, I've received lots of applications from people who have lost their homes to foreclosure or have gone through short sales. This kills the applicant's credit score, but causes landlords to become more detailed in their analysis of credit reports. We look at what caused an applicant's score to drop, such as a foreclosure, and try to isolate that information from the rest of the applicant's financial picture. We look at your current debts, the monthly cost of paying those debts, and whether or not you've been late on other payments recently. We also verify employment.
When a landlord receives multiple applications, they will obviously put the highest income and credit score on top. Many owners (including a few I manage properties for) have the same credit score criteria as mortgage lenders.
Best you can do is analyze your own credit report and see what you can do to eliminate negative items. In the meantime, submit rental applications along with an explanation of any credit issues to try to tell the landlord why they should not be a problem when renting to you.
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0 votes 2 answers Share Flag
River Rock, Real Estate Pro in Boise, ID
Mon Feb 18, 2013
River Rock answered:
We would recommend checking with local realtors and property managers in your area. They can perform a rental market analysis for accurate market information.
0 votes 7 answers Share Flag
Denise A. Sz…,  in San Jose, CA
Tue Jan 22, 2013
Denise A. Szyszlo answered:
Sometimes you need to use firefox instead of Internet Explorer
1 vote 2 answers Share Flag
Robert Kacza…,  in Loveland, CO
Tue Jan 15, 2013
Robert Kaczanowski answered:
Denise A. Sz…,  in San Jose, CA
Tue Jan 15, 2013
Denise A. Szyszlo answered:
Dear Dbroom711~

You gave notice on jan 4 that is a required 30 day notice to move. If the landlord re-rented it is their option to credit you for the half of month you vacated but they do not owe you that luxury. I am not clear if you vacated on the 15th.. Just because they secured another leasee does not mean you are entitled to anything. If you gave noticed and moved that was up to you, but you are responsible for that full month. You need to read your lease. If they found the new tenant a no, if you found them and made arrangements with the landlord well it would need to be in writing. If it gives you an out in your lease, if the landlord gave you that option in writing, (if the landlord re-rents the property before your 30 day notice) than yes you are due a refund. But I doubt it, I have never seen a lease like this. Also your deposit should be sent to you with in the time specified in your lease normally 2 weeks, unless you used this for the last month rent and IF there were not any damages. Read your lease and if you had any communications with the property manager stating if the property is leased out before your 30 day notice that they would credit you that time and amount, hopefully you have that in writing or email. A lot of if's but I don't really know your lease. Also you should of been very clear before you vacated what your options were in writing.

Good Luck~

Denise A. Szyszlo Realtor
DRE 01441160
Office:: (408) 369-2000 x319
Mobile: (408) 768-7097
Fax: (888) 334-0888
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0 votes 3 answers Share Flag
Diana Valver…,  in San Jose, CA
Sat Dec 29, 2012
Diana Valverde answered:
Read the Lease thoroughly. You may want run it past your lawyer or paralegal to clarify anything.
You can also be proactive with questions to the owner or clarifications, about the lease, you do not understand. Do not forget to take "BEFORE PICTURES".

Happy Holidays
Diana Valverde
Davey and Associates
Real Estate and Property Management
San Jose Evergreen Silver Creek Valley
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