Rental Houses & Apartments

For example, the requirements for performing maintenance and repairs, the limits on a landlord’s right to enter the rental premises, and the security deposit requirements all apply.

The written agreement should cover all essential elements such as the amount of rent, amount of deposit, when rent is due, who is allowed to live in the rental room, and whether the term is month to month or longer.

There is one significant legal difference if there is a “single family lodger” tenant-landlord relationship. A homeowner who rents a room to one tenant in his or her house and who continues to live in the house is subject to this rule, which is described in California Civil Code Section 1946.5. The most important difference is that a homeowner who has a single-family lodger need only give a notice of termination to the lodger equal to the length of the rental payment period, regardless of the length of the tenancy.

For example, if the rent is paid monthly, the notice would be a 30-day notice.

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As an entrepreneur who became an MBA Professor at age 43, I’ve had the unique experience of living almost everything that I teach. In fact, I have never taught from a textbook. I have, however, required my students to read selected business books that teach the ‘fundamental principles’ of real-world business. One of those is a profound marketing book called the 22 Immutable Laws of Marketing authored by Al Ries and Jack Trout. Wow, those guys hit it on the head. I have found all 22 of those laws to be dead-on.  

Here’s an important one. Who was the second American to fly solo across the transatlantic? Stumped? If you don’t know that answer, then who was first? Charles Lindbergh, of course. But why didn’t you know that Burt Hinkler was the second person? Don’t feel badly, it’s human nature. Almost everyone recalls who takes first, but rarely do we remember who places second.

Business is exactly the same. I

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When you buy a property, hold onto it, and then sell it at a later date for profit you become a real estate investor. But you have to be a landlord for a period of time. However, if you want to buy and hold property without problems on finding a tenant or having to deal with home maintenance and repair issues, it is a great alternative – to work with a professional letting agency.

Also specialists can help you get out of your leasing agreement, as they will easily find a tenant who can take over your lease. So, holders and property owners can benefit with a reliable letting agency.

There are many win-win options for owners and tenants. Full Post…

BOYNTON BEACH Just south of the food court and past the $15 “designer style” jewelry stand is an unusual mall kiosk staffed not with vendors hawking holiday ware but attorneys offering legal advice.

The Law Booth at the Boynton Beach Mall was opened Nov. 1 by three Palm Beach County attorneys who said they saw a need for legal counseling outside normal business hours and the traditional office setting.

Founded by Melva Rozier, Richard Carey and Paul Burkhart, the stand, which sits outside American Eagle Outfitters, is typically open from about 10 a.m. to 8 p.m. with “Walmart”-priced advice on legal matters including foreclosure, bankruptcy, estate planning and family law.

They were even open at 4 a.m. on Nov. 25 for Black Friday shoppers.

“People just kind of walk by and ask if we’re real attorneys,” said Rozier, who was meeting Thursday morning with a woman who ducked into the booth after shopping at Victoria’s Secret.

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Marbella in Spain is proving popular among Russians looking for property in the country, it has been noted. Fine & Country Spain, a real estate agency, has recorded an increase in the number of buyers from Russia expressing an interest in developments in the region. Sales director at the firm Laurent Coulee commented that the amount of people from the nation searching for properties in Spain has doubled since 2010. He added that the majority of investors are targeting high-end homes on the coast in Marbella. Mr Coulee pointed to several reasons why they may be attracted to Spanish real estate: “If Russians buy property in Spain, they are able to obtain a visa for visits [...] Many also prefer to invest in property in another currency to spread the currency risk.” Earlier this month, International Property Success predicted that house prices will not fall any further in Marbella, due in part to the influx of foreign buyers.

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The Elysian Hotel Chicago, a luxury lodging destination featuring 188 guestrooms and 51 residences, gets a new owner and prepares for a new incarnation. A joint venture consisting of an affiliate of Equity Group Investments, principals of Elysian Worldwide Chicago L.L.C. and Waldorf Astoria Hotels Resorts parent company, Hilton Worldwide, purchased the Elysian and initiated a program to transform the top-rated hotel property into the Waldorf Astoria Chicago.

The Elysian opened its doors at 11 East Walton St. in the tony Gold Coast neighborhood just two years ago, offering restaurants, a 14,000-square-foot spa and 4,500 square feet of event and meeting rooms.

The sales price of the 60-story skyscraper has not been disclosed. However, when Elysian announced site preparation plans for the property in 2005, a price tag of $245 million was attached.

EGI, established by billionaire investor Sam Zell, made its contribution to the partnerships purchase through Zell Credit Opportunities Fund.

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