lease shouldn’t be daunting. With an understanding of the basic components, you should be able to navigate any rental agreement and feel confident negotiating aspects that you feel are unfair. And once you get signing the lease out of the way, you can move on to the fun part—moving day...
Rent-to-own homes are homes that include a clause in the rental agreement that either gives you the option to buy or an obligation to buy after a certain period of time. You make rent payments each month and a portion of those payments can count toward your down payment. Should you deci...
There are several ways to invest in real estate. For many Americans, the most basicreal estateinvestment comes in the form of a family home or rental property. Investing in a single real estate property can be a large, lucrative investment with multiple possibilities for usage. Versatility, lon...
To encourage timely rental payments, state that the tenant/buyer will receive an option bonus (maybe $1,500) if they make all of their monthly rental payments in a timely fashion. If they don't make their payments on time, declare the option consideration bonus void by sending written confi...
A rental agreement or lease, for all intents and purposes, is legally binding. When a tenant breaks a lease, the law is almost always on the side of the property management or owner, so it is essential to know how to approach this potentially difficult situation. ...
Signing a rental lease agreement for the first time can be exciting. However, interpreting these legally binding contracts can be slightly confusing, and what you don’t know can come back to bite you later. What is a rental lease agreement? A rental lease agreement is a contract between a...
4. Create a Texas LLC Operating Agreement A Texas LLC Operating Agreement serves as a “companion” document to the Certificate of Formation. The Certificate of Formation creates your LLC, and the Operating Agreement shows who owns the LLC. Additionally, some banks require an Operating Agreement ...
Another way to buy an investment property with no money down is with help from the seller. Known as “owner financing” or “seller financing,” this type of loan is an agreement where the seller handles the mortgage process instead of a financial institution. The borrower repays the loan ...
If you’re planning to move in or out of your rental after the first day or before the last day of the month, your landlord may offer to prorate your rent. There could also be a section on prorated rent in the lease agreement. Or if you’re lucky, it could even be ...
Or, you can hire a company to do it for you. Need to save time? Hire a company to form your LLC: Northwest ($39 + state fee) or LegalZoom ($149 + state fee) (Learn why Northwest is #1 in Northwest vs LegalZoom) 4. Create an Operating Agreement An Operating Agreement is a “com...