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PDF Editor FAQ

What is the difference between a landlord and an owner?

Question: What is the difference between a landlord and an owner?A landlord is anyone who has the right to rent out property, not necessarily the owner. Here is how my jurisdiction defines landlord in the Landlord Tenant Act:“(B) "Landlord" means the owner, lessor, or sublessor of residential premises, the agent of the owner, lessor, or sublessor, or any person authorized by the owner, lessor, or sublessor to manage the premises or to receive rent from a tenant under a rental agreement.”[This is general information only and may only be applicable to United States jurisdictions. Even in the United States, local laws or regulations may differ. This answer does not constitute legal advice which can only be given regarding a specific situation after consultation and disclosure of all pertinent facts.]

My mother has rented a house for 11 years. Yesterday when she got home from work she noticed a realtor sign saying for sale on the front yard. The landlord gave no notice, isn't this wrong?

Short answer: that’s illegal here in NSW.Long answer: When we sign up an owner of a tenanted property to put their property on the sale market, we as the selling agent (irrespective of whether we’re the managing leasing agent) are required to issue written notice to the tenant that we will be placing that property on the market in no less than 14 days from the date of the letter. We can’t advertise or show the property until those 14 days have expired.Once the property is on the market, we are legally allowed to show it up to twice a week without interference from the tenant. We must provide 48 hours notice before accessing the property (even if the tenant says “no inspections” we can say “sorry, but we’ll be there Wednesday 3pm to show one person through and Saturday 10am–10:30am for an open house” if we let them by the preceeding Monday 3pm). We can ask to show it more often, however the tenant has the right to refuse after 2 inspections have been done. I will say that in 10 years, I’ve never seen an inspection forced by our agents or on our tenants by any of the other agents in town.When the property contracts have exchanged but the matter hasn’t settled (contracts have been signed by both parties but the financial side hasn’t been finalised) and if vacant possession is required, this is the time when we (or the managing agent) issue a notice to vacate, which is either 30-days or the lease expiry date, whichever is applicable.The legality:In NSW we’re governed by the Residential Tenancies Act 2010.Division 3 Occupation and Use of Residential Premises, Section 53 Sale of Residential Premises addresses the landlord’s responsibilites when putting the property on the market. Quoted directly from the Act:A landlord must give the tenant written notice of the landlord’s intention to sell the residential premises not later than 14 days before the premises are first made available for inspection by prospective purchasers.A landlord or the agent of the landlord for the sale of the residential premises must make all reasonable efforts to agree with the tenant as to the days and times when the residential premises are to be periodically available for inspection by prospective purchasers.A tenant must not unreasonably refuse to agree to days and times when the residential premises are to be periodically available for inspection by prospective purchasers.A tenant is not required to agree to the residential premises being available for inspection by prospective purchasers more than twice a week.This section is a term of every residential tenancy agreement.Division 4 Landlord’s rights to enter residential premises, Section 55 Access generally by landlord to residential premises without consent2. (f) if the landlord and tenant fail to agree under section 53 to show the premises to prospective purchasers, not more than twice in any period of a week, if the tenant is given not less than 48 hours notice each time.Division 2 Termination by Landlord, Section 86 Sale of Premises deals with the notice to vacate (if appropriate) once the property has sold.(1) A landlord may give a termination notice on the ground that the landlord has entered into a contract for the sale of the residential premises under which the landlord is required to give vacant possession of the premises.(2) The termination notice must specify a termination date that is not earlier than 30 days after the day on which the notice is given.(3) The landlord must not give a termination notice under this section that specifies a termination date that is before the end of the fixed term if the residential tenancy agreement is a fixed term agreement.(4) The Tribunal may, on application by a landlord, make a termination order if it is satisfied that:(a) the landlord has entered into a contract for the sale of the residential premises that is proceeding under which the landlord is required to give vacant possession of the premises, and(b) a termination notice was given in accordance with this section and the tenant has not vacated the premises as required by the notice

What should be the features of a good real estate application?

This question is vague. I will assume for this answer that it is an application to rent or lease a specific residential property considered real estate. Applications to lease Commercial properties are completely different.In most states, an application should be part of a lease package showing the intent of the applicant to rent or lease a specific property. So the following questions should be on the application:Name of the Landlord/lessorProperty by address and descriptionDate of the application Expected length of leaseName(s) of the applicant(s)Current address of applicant and current mailing address if differentDate of birthPhone number landline and cellPlace and type of employmentName of employer or contact for purposes of verification of employmentMonthly income including all sourcesQuestion about history of criminal recordSome include question(s) about previous drug usage, mostly to get in writing that they do not use drugs.Some Applications ask about previous sexual offender history or whether the applicant is a registered offender.Statement of expected security deposit, rent and other charges should be disclosedExplanation with check box for agreement that tenant screening will be done. If a fee is charged for that or the application, put the fee amount in writing.Previous landlord/manager with phone numberSome ask if the applicant has ever declared bankruptcy and if they have ever been evicted or charged with commission of waste or damage to a property.Ask for personal referencesAsk for names and ages of all children or people who will live in the unit under the age of 18. All inhabitants over the age of 18 should be screened and be on the application as co renters even if they are not paying part of the rent.Pets and pet breeds, age weight, color and name, license number.The social security number can be requested as well. I always suggest that the application have a copy of the driver’s license of all applicants attached. Fees should be paid in cash up front. That insures that this applicant(s) is committed to renting. I never run tenant screening reports until the applicant has paid the application fee.It is up to the landlord/manager to contact the employer to verify employment and monthly income. Requesting recent copies of pay stubs is a good idea. Always contact the previous landlord and at least on reference for a recommendation.These applications allow you to collect the data needed to request a tenant screening. Use of these tools will help the manager to get the best applicants for that valuable rental property; tenants who will pay rent on time and take care of the premises.

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