A letter of intent to buy property is usually written under three circumstances: • You want to document the terms tentatively agreed upon for the purchase of property. • You wish to provide the seller with some evidence of your decision to buy the said property. • You do not wish to commit to a… Read More »
The good thing about real estate sales agreements is that there are no standardized formats that one has to follow. Each real estate agency create its own agreement format, provided that it conforms to state rules and regulations. The purpose of a drawing up an agreement of this sort is to settle the terms between… Read More »
As a landlord / property owner, it is your responsibility to provide notice of any changes in the status of a lease or rent to the tenant. The best way to do this is through a letter. A letter makes everything official. For instance, if you want to let your tenant know that you will be… Read More »
As a landlord, you cannot increase the rent of your property whenever you want. There are laws governing when and how much rent you can increase. Usually, the initial rent agreement holds information of yearly rental increases so the tenant is aware that an increase in rent is impending. However, it is important to provide… Read More »
Renting out your prized property to tenants has its good points – the monthly rent that comes in can be a great addition your income. But it also has its bad points. Tenants are not homeowners to whom looking after the premises is second nature. While not all tenants deliberately damage the property that they… Read More »
It is nothing short of pure pleasure to receive a check for a certain amount each month. However, renting out your property and then not receiving rent for it is quite annoying. And puts you in an uncomfortable position with your tenant, with whom you may have had a pretty good relationship up till now.… Read More »
A no objection certificate may be needed in the most sensitive of situations. This may include death of a parent or sibling, for whom you are one of the legal heirs. There are several different types of NOCs that you can write in a situation such as this, including one in which you give up… Read More »
Finally moving out of your rented property because you now have a new place to live? Congratulations! But do what is right before you leave – send a notice letter to your landlord to let him know that you are vacating the house. This is important to do for two reasons. The first reason is… Read More »
It is especially important to provide / ask for rent receipts once rent has been received / paid for a certain property. Rent receipts are not one time affairs; every time you pay the rent, you should ask for a rent receipt. Keeping receipts in your records is a good idea not only because it… Read More »
Evicting a tenant is not a pleasant job but you may have no choice but to do this if your tenant is not paying rent on time or has damaged your property. You cannot simply send in a note saying “leave my property” – you will need to pen down a letter of eviction that… Read More »
Letters of intent to sell a house are written to put forth the basic terms of a transaction between a buyer and a seller. While not legally binding, letters of intent are considered a solid basis for clarification when selling houses. Some information (legal terms and clauses) may be considered legally binding due to the… Read More »
A letter of consent to use property is written by an individual who wishes to grant permission to another individual or a party to use his property. This letter is written straightforwardly and does not include any restrictions or discussions – if there is need for either of these, it has to be done in… Read More »