When it comes to evictions, time is more important and if that tenant stays for a long time you will lose a lot of money. Waive off the rent and ask the tenant to leave immediately. This might seem that you are losing your rents but it makes sense financially. If it doesn't happens, then court is the only place where you can go. Try to solve the controversy without any litigation. Until the tenant vacates the house and signs a release of liability, do not pay any money to the tenant.
No matter whatever happen, you need to comply with the state law against security deposit. In most of the states, you must return the deposit within 30 days or you should tell the client the reason for keeping it. Failure to comply with the procedure will result in a lawsuit against you. If the tenant has not paid the rent and if they have made damage to the property, you can sue the tenant in small claims court.
If you sublease a property, then you are a landlord. This is the minor detail that most gurus forget to mention and you will have state and federal disclosure requirements. At the federal level, you must disclose the existence of lead-based paint hazards and give your tenant an EPA pamphlet. Check with your state and county housing authority for the required disclosures. Also, keep in mind that some states might consider a lease/option to be a sale for the purposes of disclosure.
For more information visit: http://www.rementor.com/n-realestateeducation.shtml
No matter whatever happen, you need to comply with the state law against security deposit. In most of the states, you must return the deposit within 30 days or you should tell the client the reason for keeping it. Failure to comply with the procedure will result in a lawsuit against you. If the tenant has not paid the rent and if they have made damage to the property, you can sue the tenant in small claims court.
If you sublease a property, then you are a landlord. This is the minor detail that most gurus forget to mention and you will have state and federal disclosure requirements. At the federal level, you must disclose the existence of lead-based paint hazards and give your tenant an EPA pamphlet. Check with your state and county housing authority for the required disclosures. Also, keep in mind that some states might consider a lease/option to be a sale for the purposes of disclosure.
For more information visit: http://www.rementor.com/n-realestateeducation.shtml
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