Apartments for Cheap

Questions and Answers

Your Questions About Townhouses For Rent

June 10, 2013

Carol asks…

I’m looking at different townhomes and apts for rent, I always rented apts. from rental communities, but there

are some privatly owned townhouses for rent that I’m interested in, What considerations should I take when renting from private individual? is the price more negotiable? how to negotiate? We are a landlord’s dream, no kids, no pets, no smoking, good jobs.

Administrator answers:

When renting regardless of private or not there is no negotiating. Most people know exactly what they want and tell you what the rent is. However, when renting for private individual you may be able to negotiate other things like them fixing all things when they break, or reimbursing you -v- you paying for that. Also, when renting from a private individual make sure you know in advance what utilities, if any are included. You may want to know if gardeners are offered, or if you will have to do the gardening yourself, same pool service (if there is a pool). If you are renting from a condo, townhouse or house that is within an association you will need to make sure you are given the CC&Rs and Rules and Reg’s so you know what is and is not allowed in addition to your rental agreement.

Make sure you are comfortable with the homeowner before renting from them. Remember they will need to be responsible if there is damage or other issues that need to be addressed (and it’s there responsiblity to to maintain those items).

Living for private individual has its advantages and disadvantages. I wish you luck in whatever you decide.

Happy Home Hunting!

William asks…

Any rent to own houses in the philippines?

I am looking for rent to own houses in the philippines, it would be great if it’s on paranaque city.

Administrator answers:

Good evening Sir,
Am Quiel of konzepto realty and i am willing to assist you to buy your own house and lot or townhouse here in Paranaque,
if you are interested here’s my contact number 09167591759 or you can email me at mdc_ql@yahoo.com

Chris asks…

How can I purchase a second home without selling what we currently own?

We live in a great area- but our place has become too small for us. It would be great to keep our townhouse for an investment property. Problem is, we need to sell to buy b/c we don’t have enough money saved for a down payment on house number 2. Is there any way around this?
We are currently saving little to no money b/c we have small children and I stay home..btw.
I don’t think a bridge loan would work. Need another solution.

Administrator answers:

Two years ago, this was not a problem. Heck, I did it twice.

First, you need a banker who understands business. Second, how much experience do you have with rental property. I did it twice, and sold the old house after three years because it was not worth the risk. You don’t rent out houses you lived in, but some dump you don’t care about.

So how much equity do you have in the town home. If it is greater than 10%, you can take out a second loan, and use that money for a down payment. Note, townhouse bank does not know you are planning a rental. For non owner occupied homes, they demand 25% equity.

How does your cash flow look if you rented your townhouse? Will the rent cover the first and second mortgage. What happens if you are not able to rent out your townhome for two monthes? If you are not saving much money now, you may not be able to take the hit.

Now if you can find a banker who understands businus. Then you may make a case. I am planning to keep the townhouse for two more years and then sell it and get a better price. Untill then, you will take a balloon loan for your new house and pay 1% interest. If you sell your town home now, you can make a 10% down payment. If you sell your town home in two years, you will have 20% or better down payment. If you have no other debts, no car loans, no credit card ballances, the banker may accept it. Otherwise, you are stuck in the town home for two more years.

Steven asks…

Bad Smells How do I remove them?

I recently found a manufactored home for rent. I absolutely have fallen in love with the place but the former tenants messed it up badly. If we get it the carpets will be replaced. There is an awful smell about the whole place and I think it is a combination of animal, kid and human odor. I think it has gotten into the wood of the floor under the carpeting. How do I get this smell out of the whole place if I chose to rent it? I know it needs a good airing out but what else can I do to rid the place of the stench and make it smell good again? I’m afraid the smell will come back. Help!! I really love this place.

Administrator answers:

I manage townhouses and have the same problem sometimes when tenants move out. The wood on the floor really won’t hold much of an odor, if any. You can use bleach, but don’t get it too wet and let it dry completely before installing pad and carpet. Once you put in the new pad and carpet, the smell will be gone for sure. Carpet and padding holds 99% of the smell. We usually use a Pine Sol solution on the walls, unless they need paining. Good Luck!

Susan asks…

Any good websites that have houses for rent in the oregon portland area?

Ive looked through many websites for houses and renting. but almost all the websites eventually lead to just appartments. if anyone knows of any good websites that are not real estate for buying it would be wonderful. thanks!

Administrator answers:

Well, actually, you will come across many websites for houses for rent in Portland when browsing online. Most of these websites are dedicated to offering various types of homes for rent, like houses for rent, condo rentals, townhouses for rent, duplexes for rent, cottages for rent and other types of home rentals all across the Portland area.

Craigslist (for Portland) is just one of these sources. Its website is:

http://portland.craigslist.org/apa/

Other sites are:

http://www.rentals.com/Oregon/Portland/

http://oregon.rentalhomesplus.com/Portland

Good luck!

Robert asks…

What are the names of some nice condominiums around South Park in Charlotte?

I am moving to South Park (Charlotte, NC) soon and I want to know if there are any nice condos for rent around that area ? Can you give me a list? Thanks in advance

Administrator answers:

What is your price range?

There are nice condos, decent condos and expensive condos. What amenities are your looking for?

Do you want a flat or a townhouse?

Your best bet may be to check with rental companies, like dwelle realty, henderson properties or Meca properties.

You want to search areas 5 or 6, maybe 4 too.

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