Remember that a lease agreement— whether written or oral—is a contract, enforceable by law.

Slides:



Advertisements
Similar presentations
Family Economics and Financial Education Take Charge of your Finances
Advertisements

Lease-a rental agreement Specifies the amount of rent to be paid and the length of time for which the dwelling may be rented. States the rights and duties.
Securing a Living space G1 © Family Economics & Financial Education – November 2005 – Housing Unit – Securing a Living Space – Slide 2 Funded by.
Real and Personal Property Objective Compare the legal rights of acquisition, transferal and renting/leasing of real or personal property. RELATIONSHIP.
Renting : Landlord and Tenant Rights and Responsibilities
Click your mouse anywhere on the screen to advance the text in each slide. After the starburst appears, click a blue triangle to move to the next slide.
Independent Living: Renting and Leasing. Importance of Landlord Tenant Law  You’re living on your own now  You must know the rights and responsibilities.
Landlord/Tenant Law Business & Personal Law Gary Nelson April 2001.
Renting Real Property CHAPTER THIRTY. Copyright © Houghton Mifflin Company. All rights reserved.30 | 2 Landlord – Tenant Relationship Landlord: the person.
1 Click your mouse anywhere on the screen to advance the text in each slide. After the starburst appears, click a blue triangle to move to the next slide.
Real Estate Law Residential Leases Real Estate Law Residential Leases.
Renting vs. Owning The Difference Between Renting and Owning a Home.
LEASE Legal document that defines conditions of a rental agreement between tenant and landlord.
1 ARE 306Unit 15 Tenancies. 2 Definitions l Lessee l Lessor l Rent.
Landlord-tenant disputes are a common occurrence in the renting process. Some of these disputes could be avoided if landlords and tenants were aware of.
Renting or Owning??? Principles of Law Mrs. Pollison.
Personal Finance Ms. Williams Fall   This is a person who works for the owner in regards to finding and screening tenants, collecting rent, maintaining.
Now you have found an off-campus house!! What’s the deal with that dang deposit??
 moving-in costs can include:  ■ Rent for first month  ■ Rent for last month  ■ Security deposit  ■ Utilities deposit  ■ Telephone deposit.
© 2006 Consumer Jungle Landlord Tenant Law. © 2006 Consumer Jungle Importance of Landlord Tenant Law You’re living on your own now You must know the rights.
© Family Economics & Financial Education – November 2005 – Housing Unit – Securing a Living Space Funded by a grant from Take Charge America, Inc. to the.
Chapter 9.1: Rental Agreements
1 Residential Evictions Real Estate Transactions I Mike Brigner, J.D.
+ Terms Renters Should Know Independent Living. + Renting Renting an apartment is one of the major adult decisions you’ll make. Signing a rental agreement.
OBJECTIVE 2.02 ANALYZE FINANCIAL AND LEGAL ASPECTS OF RENTING.
© Family Economics & Financial Education – November 2005 – Housing Unit – Securing a Living Space Funded by a grant from Take Charge America, Inc. to the.
© 2015 OnCourse Learning Chapter 13 Leasehold Estates.
© 2006 Consumer Jungle Importance of Landlord Tenant Law You’re living on your own now You must know the rights and responsibilities of –The tenant (that’s.
Renting vs. Owning The Difference Between Renting and Owning a Home.
RENTING VS. OWNING FAMILY ECONOMICS AND FINANCIAL EDUCATION TAKE CHARGE OF YOUR FINANCES.
RESIDENTIAL LEASES. A lease is a contract to use another’s property Contract- An agreement/promise the courts will enforce Lessor/landlord and lessee/tenant.
© 2006 Consumer Jungle Landlord Tenant Law. © 2006 Consumer Jungle The Players Tenant: Somebody who rents a house or apartment for a fixed period of time.
LEASING REAL PROPERTY ► CHAPTER 13 © 2009 South-Western, Cengage Learning.
Your First Apartment  Make a list of everything you would want in an apartment…. cost is NOT a factor.  Look online to find an apartment that closely.
2.02 Financial and Legal Aspects of Renting. Landlord Owner of the Property Expects the following from tenant: –Rent to be paid on time –Keep the property.
2.02 Financial and Legal Aspects of Renting. Landlord Owner of the Property Expects the following from tenant: –Rent to be paid on time –Keep the property.
Rights and Responsibilities Section 4.3. True or False A tenant has to keep the rental unit clean, up to the standard that most people would consider.
Renting or Owning a Home. Exciting event Learn about the rights of landlords and tenants in various kinds in of tenancies Types of co-ownership and deeds.
© 2006 Consumer Jungle Landlord Tenant Law. © 2006 Consumer Jungle Importance of Landlord Tenant Law You’re living on your own now You must know the rights.
Renting BASIC TERMS, RIGHTS, AND RESPONSIBILITIES.
Renting CMAGNO. Did You Know? 1/3 of all people in the U.S. rent Who are these people? – Majority are: singles, young couples, and senior people – Many.
TENANT’S RIGHTS & DUTIES Generally; implied covenant of habitability; right to repair and constructive eviction.
HOUSING: TO RENT OR BUY? RENTING AN APARTMENT 1. LEASE- the contract created by the property owner stating rules and expectations of the renter for the.
WE WILL COVER: EXPENSES TERMS & CONDITIONS ADVANTAGES DISADVANTAGES THE LEASE AGREEMENT Renting an Apartment You will soon be out on your own, possibly.
2.02 Financial and Legal Aspects of Renting
Rental Agreements Moving In, Moving On
Chapter 9.1: Rental Agreements
Family Economics and Financial Education Take Charge of your Finances
Property management Landlordssolutions.com.
Renters Have Legal Rights
Securing a Living space
Tenanted Properties.
Family Economics and Financial Education Take Charge of your Finances
Understand Sales, Consumer, Property and Cyber Laws
Renting an Apartment You will soon be out on your own, possibly needing to find housing. Today’s lesson will help you understand the many factors that.
Freedom Independence Transition
Living on your own.
The Difference Between Renting and Owning a Home
Protecting Your Security Deposit
Family Economics and Financial Education Take Charge of your Finances
Landlord Basics Gain a basic understanding of the Rent Stabilization Ordinance, landlord rights and responsibilities.
Landlord/Tenant Law The information contained in this presentation is reprinted with permission from the Attorney General Of Washington, Consumer Protection.
Securing a Living space
Freedom Independence Transition
Family Economics and Financial Education Take Charge of your Finances
Family Economics and Financial Education Take Charge of your Finances
TENANCY.
Family Economics and Financial Education Take Charge of your Finances
2.02 Financial and Legal Aspects of Renting
Securing a Living space
Presentation transcript:

Remember that a lease agreement— whether written or oral—is a contract, enforceable by law.

 Read pg. 308 In this Case

 Duty to provide safe and livable premises including common areas  Must be in compliance with housing codes

 Receive rent payment  To have tenants take care of property in reasonable manner

 1. Pay rent on time;  2. Keep rental property in good condition—reasonable wear and tear excepted.  3. Promptly notify the landlord of  maintenance problems;  4. Give written notice of leaving days in advance

 Right to use property  Right to sublease unless restricted in lease  Subleasing: lease property to third person  Original tenant still liable

 Reasons: - Not paying rent - Abuse of property - Illegal Drug Activity - Violation of lease provision (having pet when no pet is allowed)  Must be taken to court to evict a tenant

 Landlord must give proper eviction notice in writing and allow 24 hrs (drugs), 7 days (payment, physical damages), or 30 days (violation of lease) before taking it to court  File paperwork with court  Tenant must appear or respond to complaint  Court gives out Notice of Eviction to tenant  Tenant given 10 days to appeal  FROM START TO FINISH— IT CAN TAKE AS FEW AS 27 DAYS OR AS MANY AS 57 DAYS TO EVICT A TENANT!

 If something needs fixed, tenant must notify landlord normally in writing  Landlord must be given reasonable time to fix it  If landlord does not fix it 1. withhold rent in escrow (3 rd party account) account until landlord does 2. give 3 quotes to landlord for fixing, if they do not fix it, have repair done with cheapest quote and repair should be deducted from your rent

 As soon as you move in fill out check in list detailing any damages to walls, floors, appliances, blinds etc. for EACH ROOM IN DETAIL  Must turn in within 30 days  Cannot be charged for these damages out of security deposit

 Tenant can receive all security deposit back if no damages beyond normal wear and tear (occasionally minus a cleaning fee)  Landlord must mail out check and list of damages within 30 days of moving out  Tenant may dispute damages in writing  Issue can be settled in mediation or be taken to court