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Rental Basics in 95156 : Real Estate Advice

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Activity 18
Wed Apr 24, 2013
Elena Talis answered:
It depends on the lease. If she is in a middle of a year lease you should talk to her and find out on which conditions she will agree to move. It is much easier if she is on month-to-month. ... more
0 votes 8 answers Share Flag
Mon Apr 1, 2013
Terri Vellios answered:
http://portal.hud.gov/hudportal/HUD?src=/states/california/renting/tenantrights

Here's a link which talks about tenant rights. Since we have Fair Housing Laws it only makes sense that a landlord would have to obey them. ... more
0 votes 4 answers Share Flag
Wed Feb 20, 2013
charles butterfield answered:
The rental market in San Jose is extremely active. There are far more people who want to rent homes than there are homes to rent.

Landlords can be very selective.

You will probably have to go far outside of San Jose to the Central Valley if you want to rent anything decent, at a reasonable rent, if you have credit that is less than perfect.

Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
DRE#00901872
.
... more
0 votes 2 answers Share Flag
Mon Feb 18, 2013
charles butterfield answered:
Thank you Ng.:

With respect to the verification of the current Fair Market Value of the apartment building where you live, you really need an appraisal by a competent real estate appraiser. I recommend Frank Schmidt MAI. Frank Schmidt has the MAI designation from The Appraisal Institute and many years of experience as a Residential and Commercial Real Estate Appraiser.


However as I read your question what you really need to know what is the market rent for your unit. An excellent source for that information is a property manager who manages apartments similar to yours. Call the property manager and ask him or her what they are asking for rent for units similar to yours. This will give you a good idea what the local property managers are asking for rent.

Currently the market value of rents is rising very rapidly in The City of San Jose. There is an enormous amount of demand for units to rent and a severe shortage of places to rent. That is forcing the market value for rents up very rapidly.

To determine the market rent for your apartment that people are actually paying, is something that you can do on your own. Look for similar apartment units in your neighborhood. Call the tenant in the apartment or knock on the door and explain to the tenant that you are trying to determine the market rent in the area, and ask the owner if he or she will tell you what they are currently paying in rent. If you will talk to 5 or 6 people, that will give you a good idea of the current market rent for units similar to yours in the area.

Also look for units similar to yours that are advertised for rent and ask them what they are asking for rent for that unit. Try to negotiate them down and see what they say. Also follow those units that are advertised for rent and see how long it takes for that unit to be rented.

Because rents are rising so rapidly, now may be a good time for you to consider the purchase of a single family house or condominium, rather than to continue renting.

Interest rates are very low right now. If you purchase a home with a 30 years fixed rate loan, you now will have your housing cost fixed for 30 years. you do not have to worry about future rent increases. Also, after 30 years, when you have the loan paid off, your home is yours. Also, as the Fair Market Value of the property increases you will build up a substantial amount of equity in the property. In addition, the mortgage interest that you pay on your home loan is tax deductible. That further reduces the cost of purchasing a home rather than renting. The money that you pay in rent is not tax deductible.

For more information, you may reach me at my cell phone: (408)509-6218, or send me an email at my email address: charlesbutterfieldbkr@yahoo.com

Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
DRE#00901872
.
... more
0 votes 7 answers Share Flag
Tue Jan 22, 2013
Elena Talis answered:
There is a chance that it was posted. Wait for 15 minutes and try to search for your listing. It may be there. Also e-mail Trulia support. They always answered my questions.
0 votes 2 answers Share Flag
Tue Jan 15, 2013
Terri Vellios answered:
http://www.dca.ca.gov/publications/landlordbook/index.shtml

Above is the California Handbook. Below is an excerpt from that book.

You can give the landlord notice any time during the rental period, but you must pay full rent during the period covered by the notice. For example, say you have a month-to-month rental agreement, and pay rent on the first day of each month. You could give notice any time during the month (for example, on the tenth). Then, you could leave 30 days later (on the tenth of the following month, or earlier if you chose to). But you would have to pay rent for the first 10 days of the next month whether you stay for those 10 days or move earlier. (Exception: You would not have to pay rent for the entire 10 days if you left earlier, and the landlord rented the unit to another tenant during the 10 days, and the new tenant paid rent for all or part of the 10 days.)198

Have an amazing day!
... more
0 votes 4 answers Share Flag
Tue Jan 15, 2013
Ron Thomas answered:
I have this cosmic feeling that you are not giving us the whole story:
Something tells me that this was not simply a business/landlord relationship.

In any case; this is not a Real Estate question;
this should be directed to either a Lawyer or Dr. Ruth.
... more
0 votes 8 answers Share Flag
Sat Sep 29, 2012
John Hanson answered:
I think almost everyone that i know handling rentals post them on Craig's list.
they get snapped up quickly.
good luck.
0 votes 7 answers Share Flag
Sat Dec 29, 2012
charles butterfield answered:
One of the most common sources of disputes is the condition of the property at the end of the lease. For example, were the carpets stained before you entered the lease or did you cause the stains in the carpet? Similar problems occur with questions over chips in the countertops, particularly in the kitchen, damage to walls and doors, cracks in windows and damage to window screens.

I recommend that before you sign a lease, do a very thorough walk through the property. Make a written note of any damage to the property and make certain that you bring this to the attention of the landlord or property manager and have them acknowledge that in writing.

Also take pictures of all of the surfaces of the interior of the property. Those pictures will be very helpful to you when it is time to move out.

If you will do a good walk through before you sign the lease, that will save you a great amount of grief when it is time for you to move out.

Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
DRE#00901872
... more
0 votes 3 answers Share Flag
Mon Aug 21, 2017
Nina Daruwalla answered:
Dear Mountain Rain,

I am sure you will NOT be renting to these folks again. Reporting them, or not, is entirely your choice, we cannot advise you on that. But for future Tenants, please do a credit check and reference check, and choose your Tenant/s very carefully. Sorry you had to go through so much expense.......but thats what life is all about - good and bad tenants........one has to be very careful who you rent out to.
If you are thinking of Selling, this is a great time inventory is VERY low, more Buyers in the market! and lots of Cash purchases!! Let me know if I can help? Lets talk Real Estate. Check out my website, i live and work in Cupertino, and serve the Bay area.
All the Best for the future, Be well and Safe, regards,
Nina Daruwalla
... more
0 votes 19 answers Share Flag
Sun May 17, 2015
charles butterfield answered:
Thank you Deanna:

Unfortunately there is an enormous demand for rental property right now. Rental rates are being pushed upward rather rapidly.

Essentially in this valley there never is a good time to look for rental property.

I recommend that you consider a purchase using a 30 year fixed rate loan. Mortgage rates are the lowest that they have been in 50 years. Those rates will be going back up in the future because of inflationary pressures, and those rates will not be coming back down.

If you purchase your home with a 30 years fixed rate loan now, you will lock in your housing costs and you will have your housing costs predictable and you know that the payments on your mortgage cannot go up.

However with rents, we know that the rents will continue to go up. In a few short years the cost of your mortgage will be much less than you would be paying in rent for a similar property..

Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
DRE#00901872
... more
0 votes 5 answers Share Flag
Thu Oct 13, 2011
Scott Godzyk answered:
You need to read your contract with your PM. You also need to read teh lease you signed to see what is says for future payments. You may want to seek the advice of your lawyer to be sure. ... more
0 votes 6 answers Share Flag
Thu Jul 7, 2011
David and Danielle Contreras answered:
Hi Christine,

I would recommend walking around near campus as soon as possible. There are usually many for rent signs in the area before school starts. Most are converted victorians or homes in the area but some are apartments. I have not seen many of the apartments near San Jose State on Craigslist but that website could be a good option for you as well. With all the foot traffic traffic near SJSU they usually find renters fast.

Good luck and go Spartans!

Danielle
... more
0 votes 1 answer Share Flag
Tue Apr 12, 2011
Terri Vellios answered:
This can only be answered by your trusted tax adviser. Real estate agents can not advise on tax or legal nature.

Have an Amazing day!
0 votes 3 answers Share Flag
Sun Dec 19, 2010
Terri Vellios answered:
http://www.hud.gov/local/ca/renting/tenantrights.cfm

Click on this link it is regarding the laws in California.

Good Luck.
0 votes 8 answers Share Flag
Tue Feb 16, 2010
John Juarez answered:
Without a compelling reason to do so, I would not divulge that sort on information on a public forum like this.
0 votes 2 answers Share Flag
Mon Apr 6, 2009
Roland Barcos answered:
Hi Keri - It is unfortunate that you are an innocent bystander and being harmed by this mess. You should consult an attorney to know exactly where you stand. They might know of any laws recently passed to protect people in your situation. Don't expect to get more than advice, as there is isn't enough money to sue over. You could try Small Claims court, but if the landlord is missing, that would be futile also.
The bank is not responsible for your deposit. However, I have heard of some banks providing relocation money to people in your situation. After all, they have a vested interest in your treatment of the property. Under no circumstances should you vandalize or commit any criminal act out of frustration or revenge. That will just make your problems worse. Find out the name of the bank and contact them. Appeal to their good will policy. You could also ask them for a letter explaining your situation.
Best of luck,
Roland
... more
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