If an individual pays a security deposit on an apartment and the application is rejected, how long does the person holding the security deposit have to return the funds?

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The landlord has a duty to return the security deposit within thirty (30) days after an application is rejected. If the amount paid was a deposit to keep the property off the market, it would generally not be refundable. The answer depends on the agreement between you and the landlord at the time of payment. Always get a receipt for any deposit or fee that you pay. If the fee is refundable, ask the landlord to put that information on the receipt.

Wall St Investors will become new landlords….

Some of the biggest names on Wall Street are lining up to become landlords to cash-strapped Americans by bidding on pools of foreclosed properties being sold by Fannie Mae.

The idea is that the new owners would rent out the homes at first rather than reselling—potentially aiding a housing-market recovery by reducing the number of properties clogging the market. The fact that big-name investors are interested also suggests they anticipate sizable future profits in housing.Image

Vacant Homes – A Breeding Ground for Theft/Vandalism

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One Source Affiliates, is a property management company. When your home becomes vacant, my recommendation is to change the locks, screw shut the windows, keep the power on and install an alarm on your property, remove appliances and outside AC condenser unit, as well as, window units and possibly board up your property.

Failure to safeguard your property may result in vandalism and cause an additional financial burden on you.

May I conclude some of these remedies are a lot cheaper than a $1k deductible applied by your insurance company. Sometimes, if the property is vacant over 30 days, the insurance companies do not want to reimburse you for your loss.

Should I allow tenants to paint?

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If you plan to keep the property as an investment for any length of time beyond a year or two, it is a very good idea to allow painting. A tenant who wants to paint takes mental ownership of the property and is more likely to stay your tenant. The less downtime between tenants, the more cash in your pocket. Allowing painting with approved colors is often a good compromise, and tenants rarely have a problem with this.

How To Answer an Eviction Warrant

When you get an eviction warrant and want to fight it, you must file an answer. The answer is your chance to say why you should not be evicted. You have seven days to file an answer in court. Always look at the answer date on the warrant. Be sure to file your answer by that date. If you miss the date, the Marshal�s or Sheriff�s office can put you out.

You can get an answer form from the court clerk�s office. The answer form lists reasons that may help you stop the eviction. Once your answer is filed, the court will send you notice of the date, time and place of your trial. Some courts give you this notice when you file your answer.

My lease will expire in two months. I want to stay in the same apartment. What should I do?

If your lease does not answer your question, contact your landlord and discuss the matter with him or her. If you and the landlord cannot reach an agreement on a new lease or an extension of your existing lease, you should plan on moving when your lease ends. At the end of the lease term, a landlord can choose not to extend the existing lease or can offer the tenant a new lease with different terms, including an increase in rent. Georgia law does not limit the amount of rent a landlord can charge or the amount by which rent can be increased. If you remain in your unit after your lease expires, the landlord can require that you immediately sign a new lease with new terms or vacate. It is best to negotiate your new lease before your old lease expires.

Georgia woman stole luxury homes in broad daylight, Claims Adverse Possession

A lemons-to-lemonade business plan for the Age of Malaise: You find a swank home, foreclosed and empty. You fix up the place — hang some curtains, cut the grass.

You set up a property management company, sign up tenants to a lease, employ a law firm to deal with any niggling questions.

That, officials say, was the enterprising — though totally illegal — business plan of a woman named Susan Loraine Weidman of Cobb County, Ga., who authorities believe set up the scheme to essentially pilfer three million-dollar homes in suburban Atlanta in broad daylight, according to the Atlanta Journal-Constitution.

The property management company, leases and law firm were all fake, DeKalb County Dist. Atty. Robert James told the paper.

Weidman was arrested Tuesday after being indicted on racketeering charges by a DeKalb County grand jury. She reportedly claimed ownership of the homes in court documents, in one case claiming the “apparent abandonment” of one home after finding it empty in December.

In an earlier interview with a TV station investigating her case, Weidman struck a Robin Hoodish tone, alleging that the banks had issued predatory loans to the previous owners.

“What right does [a] bank have to be collecting on houses where the mortgage was predatorily loaned to begin with?” she asked in the WSB-TV interview.

Two of Weidman’s “tenants” were also included on the indictment.

How to Rent a Home if you have Bad Credit

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When it comes to renting a home with bad credit, there are factors that can be in your favor. Landlords who have multiple properties may be better able to take on the risk of a less-creditworthy applicant than those who have one rental unit and are depending on that rental income to pay the mortgage.

A rental home that’s been vacant for a long time may also have less-stringent requirements if the owner is trying to find a tenant.

Honesty is the best policy — when there’s money in it. An explanation of why your credit has taken a hit can give a landlord insight into whether you’re financially irresponsible or have run into a string of bad luck.

A letter from a former landlord can show your track record for paying rent on time, your respect for both the property and the neighborhood and the length of time that you resided at each property.

Other helpful factors that might land you a lease include an employment verification letter and the offer to set up rent payments to be automatically deducted from your checking account.

An offer to pay a larger security deposit can go a long way too,landlords may feel safer that you are financially secure and that there is less risk of breaking the lease.

When renting an apartment who is responsible for setting up electric, natural gas, telephone, and water service. Who is responsible for the monthly charges?

 

The rental agreement should explain who is responsible for establishing and paying for utility services. Generally, the landlord will establish service if the utility bills are included in the monthly rent. On the other hand, if utilities are not included in the rent, tenants are responsible for contacting the utility companies directly to establish service and paying their bills. If this is the case, the tenant may have to pay deposits to the utility companies to have service turned on.

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