Are you ready to sell in the Spring Real Estate Market ?

Posted on January 26, 2015 by robertjrussellcompanies

GardeningEven though it’s the middle of the winter season, before you know it, spring will be here. Historically in most real estate markets, the spring is when it really begins to heat up. The spring real estate market generally yields the highest prices for those selling their home. This is only possible though if the proper preparations are taken before spring is upon us!

If you’re thinking of selling your home in the spring, you must know that even though you may receive top dollar for your home, the competition will also be the strongest. This means it’s absolutely critical that you’re prepared for the spring real estate market so you can knock out your competition. Check out these tips so that you’re prepared.

Begin Interviewing Prospective REALTORS®

It doesn’t matter what time of year you decide to sell your home, it’s critical that when selling a home, you know how to interview REALTORS® when selling a home. As spring continues to approach, the top producing REALTORS® will only continue to get busier. Make sure you start reaching out to the agents you think would be a great representative to sell your home sooner rather than later.

Know What Your Plan Is

One huge mistake sellers make is not knowing what their plan is once they sell their home. Are you planning on buying another home once your home sells? Do you have the option to move in with family? Can you rent, if need be? Can you buy non-contingent? These are things you should think about and know the answers to before the spring real estate market hits. It’s a great idea to discuss your financing options with a local lender before you list your home for sale. If you can get pre-approved to purchase a home non-contingent, if need be, it can give you a huge advantage over any seller who is selling their home subject to finding a suitable property to purchase.

Consider Having a Pre-List Inspection

One of the biggest reasons a home sale gets derailed is due to the home inspection. Most buyers will opt to have their offer contingent on an acceptable home inspection. Some buyers can even get alarmed and scared by the smallest home inspection finding. It can be easy to avoid this possibility and have your home inspected by a professional before listing it. Having a pre-list inspection is one of the top things to do before listing a home for sale.

Know Your Local Spring Real Estate Market

Every real estate community and market is different. Some spring real estate markets begin in late February/early March and others begin in the middle of April. It’s important that you truly understand your local real estate market. The best way to know your local real estate market is by hiring a top REALTOR®. Your REALTOR® should be able to advise you on current, past, and projected market conditions and also give you advice as to when you should list your home.

The time you choose to list your home for sale is critical in the spring market. If you wait too long, it’s possible you can miss that prime selling time frame. There are some REALTORS® who will even suggest beating the spring market competition and that it can be beneficial to list a home now and not wait until spring.

Clean & Organize

I know it’s cliché but it’s imperative to give your home a thorough “spring cleaning.” This doesn’t mean wait until spring though. Be proactive and start cleaning now; you’ll be glad you didn’t wait. A huge turnoff for prospective buyers are foul odors. Things such as smoke odors and pet odors can kill home sales.

Here are just a few things to make sure you clean before listing your home:

  • Wash your windows
  • Dust your blinds
  • Dust baseboard trims
  • Clean appliances
  • Clean shower(s) & toilet(s)
  • Clean inside cabinets

When selling a home, it’s important that you de-clutter and organize your home, too. A great way to achieve this is by packing. It may sound silly seeing as you haven’t listed your home for sale yet, but you will need to pack at some point anyways, so why not do it now! Clean out closets and pack away anything that you don’t have a necessity for. It is incredible how much better a home will show and how much quicker it will sell if it’s organized and de-cluttered.

Final Thoughts

The spring real estate market is a great time to be selling a home. Just because your spring market doesn’t begin until mid-April doesn’t mean you should wait to prepare for the sale of your home. Be proactive and follow the above tips for getting ready for the spring real estate market. You will be glad you did when your home sells quickly and for a high price!

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The Truth is Behind Door #1

Posted on January 25, 2015 by robertjrussellcompanies

First-time sellers beware: there are lots of myths out there about the right way to sell your home. While your Texas REALTOR® is your first line of defense against making these mistakes, here are three common selling myths busted:

Myth: I bought a house, so I know what it’s like to go through a real estate transaction. I’ll sell my home on my own and save money by not using a real estate agent.
Truth: Texas REALTORS® don’t work for free, but that’s because they provide valuable assistance through the home-selling process. Selling isn’t the same as buying, and a Texas REALTOR® can help you reduce your risk of making a costly selling mistake. Plus, they help clients with the ins and outs of property transactions every day and are plugged into your local housing market. If you DIY, that means you’ll have to spend time marketing your home adequately, be available to show the home yourself, and navigate your way through a tricky transaction alone.

Myth: If I price my home higher than market value, I’m leaving room for negotiations.
Truth: Buyers have no idea you’re employing this strategy and won’t understand why your price is too high. Many won’t even view your home, much less put in an offer. When your home is priced improperly, it’s more likely to sit on the market, making potential buyers think there’s something wrong it. When that happens, you’ll probably wind up with lower offers than if you had priced the home fairly at the start.

Myth: All I need to do is mow the lawn and hide my stuff in a closet and my home will be ready to show.
Truth: Is a mowed lawn and hidden clutter all it takes to attract you to a home? It won’t work for potential buyers of your property, either. Your Texas REALTOR® might go through your home with you and identify areas that could use some sprucing up to make your home more appealing. Or, he or she might recommend working with a home stager to make the best impression. Be open to those suggestions … your Texas REALTOR® knows what makes a property sell quickly for top dollar.

Comments

kathryn nelson on 03/07/2014

So true.  We often forget some of these basics.  Selling ‘by owner’ can also be dangerous; how do sellers know that the ‘interested’ party is interested in only the sellers’ personal—not real—property?  Pricing is more critical than ever; because of our shortage of inventory,  as few as 21 days-on-market can elicit, “What’s wrong with the property” from buyers.  And with multiple offers, often resulting in sales prices over list,  creative marketing strategies are a must.  More than ever,  Texas REALTORS® familiar with their market are the best resource for sellers wanting to maximize their bottom line in the shortest amount of time.

 

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The Opera Ain’t Over Til the Fat Lady Sings…..

Posted on January 24, 2015 by robertjrussellcompanies

You accepted a buyer’s offer on your home? Congratulations! Now put down the champagne. There’s work to be done. Lots of work, if you want the deal to close.

Many sellers are surprised when twists and turns occur during their transactions. The buyer’s inspector may uncover serious problems you didn’t know existed—or maybe not-so-serious problems that still put a wrinkle in the process. The buyer could have difficulty getting financing or might just get cold feet. Those examples barely scratch the surface.

Thankfully, when you hire a REALTOR®, you have a professional working for you who knows how to deal with all the sticky situations that may arise. REALTORS® understand how to get from an accepted contract to a done deal. Then it will be time to pop the cork on that champagne.

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Buying Investment Property with Your IRA

Posted on January 22, 2015 by robertjrussellcompanies

Purchase Investment Property With Your IRA and a Nonrecourse LoanMany property investors are unaware of IRS rules that allow them to take non-recourse loans against their self-directed IRA, and leverage their savings to buy investment real estate. Best of all, IRA-owned investment property can be taxed at a lower rate than privately owned investment property.

Self-Directed IRA

A self-directed IRA is a financial instrument that allows an investor to make alternative investments for retirement savings. Typical alternative investments include: real estate, private mortgages, private company stock, precious metals, etc.

The financial institution serves as the trustee/custodian of the IRA’s assets. The institution holds the assets on behalf of the owner, processes the transactions, maintains records pertaining to the assets, files IRS reports, issues client statements, and performs other administrative duties.

Non-Recourse Loans

As part of a self-directed IRA, investors can purchase investment property. The down payment is paid from the self-directed IRA, and a non-recourse mortgage is placed against the property. As a result, neither the IRA, nor the IRA account owner, is liable in the event of a default.

With a non-recourse loan, lenders can only recoup the pledged collateral in the event of default (ie, the real estate), and can’t go after an individual’s personal assets.

Since there is less personal liability with non-recourse loans, they typically have a higher down payment because of the lender’s increased risk.

Qualifying for a Non-Recourse Loan

Since lenders aren’t lending to the investor, they typically don’t place emphasis on the investor’s personal finances, such as pay stubs and tax returns. Rather, the investment property’s appraised value, property taxes, insurance, and overall cash flow are generally the key concerns.

Lenders may also have minimum loan amounts. As a result, the least expensive properties may not qualify, especially in light of the high down payment required for non-recourse loans.

Closing Costs for a Non-Recourse Loan

Closing costs for non-recourse loans are fairly typical. You can expect to pay:

  • Origination fee
  • Underwriting fee
  • Processing fee
  • Flood Certification fee
  • Appraisal fee
  • Settlement/Escrow fee
  • Title Insurance
  • Recording fees
  • Mortgage Registration
  • State fees (if applicable)
  • Prepaid Interest, Taxes, and Insurance

Account Reserves

Since lenders have higher risk with non-recource loans, they require a 10-20% reserve in the IRA, depending on cashflow.

The reserve ensures the IRA can pay taxes, major repairs and mortgage payments, especially during times of vacancy.

Taxes

IRA-owned properties are subject to unrelated business income taxes (UBIT).

In any year the IRA-owned real estate generates taxable income, the IRA must pay UBIT on the percentage of taxable income attributed to the leverage.

The amount paid in income tax for IRA-owned properties is at trust tax rates, which could be significantly lower than real estate held privately and taxed at personal federal and state income tax rates. Therefore, investors could pay less tax and keep more of the income gains by investing in property through a self-directed IRA.

Here is an example in MarketWatch by Eric Wikstrom, a certified public account and financial planner, and founder of Seattle-based Integrated Wealth Strategies, which specializes in self-directed IRAs.

For example, if an IRA accountholder earned $10,000 in annual income on a 50% mortgaged property, $5,000 would be subject to UBIT, Wikstrom says. Factoring in a $1,000 allowable deduction, $4,000 would be subject to UBIT, which at trust tax rates would be $780.

“If you made that real-estate investment with discretionary funds and generated the same $10,000 of taxable income, you’d owe federal and state income tax at your marginal bracket, which would likely range from 25% to 40% — or $2,500 to $4,000,” Wikstrom said.

“Would you rather pay a UBIT tax of $780 or income taxes four to six times higher?” Wikstrom says. “Having higher taxable income on federal and state tax returns also can reduce the benefit of itemized deductions and personal exemptions.”

Leveraged property in an IRA also qualifies for deductions for depreciation, mortgage interest and real-estate taxes in computing UBIT. And contrary to what many accountants only fleetingly familiar with self-directed IRAs will tell you, Wikstrom says the after-tax return on buying, renting and selling a property inside an IRA and then withdrawing funds is better than buying with non-retirement funds, even with depreciation allowances and tax deductions.

“At the end of the day, you’ll ultimately keep more of the income and gain working for you as opposed to paying immediate taxes on that income and gain if that investment is owned with discretionary funds,” Wikstrom says.

Note: see your accountant for tax liability relating to your specific situation.

Get Started

To get started, you need a self-directed IRA funded to make a down payment on a property, meet reserve requirements, and qualify for a non-recourse loan.

Next, to find out more about this then you should call Robert J Russell – Licensed REALTOR and Insurance Broker. Ask him to find a suitable IRA-owned investment property. After finding an agreed upon property, Robert will coordinate the remaining details with your IRA Insurance Company, a lender, a title agency, a property manager and other involved parties to purchase the property and get it generating income.

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Would you like to be an Inside Sales Agent ?

Posted on January 21, 2015 by robertjrussellcompanies

Learn the job descriptions & tasks that Inside Sales Agents (ISAs) perform to convert leads to appointments on top real estate teams. Traditionally referred to as telemarketers, ISAs are generally responsible for prospecting for new leads, servicing inbound leads from sign calls and other internet sources, and converting these leads to appointments for a team’s sales agents.  Real estate teams utilizing ISAs have found the income they produce to be at least five times the cost of employing ISAs, which amounts to a 5 to 1 return on investment.

The 3 Types of Inside Sales Agents (ISAs)

All inside sales agents are not created equal, and it’s important to know the differences if you are looking for guidance from the ISA models that other teams are actively implementing.  There are 3 types of ISAs:  1) Outbound; 2) Inbound or 3) Both Outbound/Inbound.  Outbound ISAs generate new leads by prospecting for FSBOs, expired listings, just listed/sold, COI, past clients, geographic farms and etc.  Inbound ISAs respond to incoming leads from internet sources and sign calls while repeatedly maintaining contact with leads over time to ultimately foster them into qualified appointments.  Performing both roles at once can be challenging since they are very distinct roles that require two different types of behavior.  An Outbound ISA should be more aggressive and driven to make cold calls, where an Inbound ISA should be more of a customer service orientated individual that loves people and building relationships.

Training & Leading Inside Sales Agents (ISAs)

Inside Sales Agent ISASuccessful inside sales agents are trained and held accountable on an ongoing basis.  Weekly and daily scripts, objection handling, and role-play practices should be conducted.  Outbound ISA’s should track activities to determine conversion ratios for contacts-to-appointments and other key metrics for motivation and skill development.  For Inbound ISAs, response time and all lead follow-up attempts must be tracked with notes on each conversation input into the team’s customer relationship manager for future use.  Finally, the results of all activities tracked should be displayed and compared to pre-determined goals at regular team meetings for accountability and to overcome difficulties with related team performance.

Inside Sales Agent (ISA) – Job Description

The following is a sample job description for an Inside Sales Agent (ISA) that converts both inbound and outbound leads to appointments for a real estate teams’ sales agents.

General Job Description

  • Prospect for new clients on a daily basis from various lead sources
  • Respond to inbound leads from all internet lead sources, sign calls, and etc.
  • Schedule appointments for Listing and Buyer Specialists
  • Input/manage client & lead databases
  • Conduct lead follow up & nurture leads until appointments are set

Job Specific Skills & Traits

  • Communicates effectively with peers, superiors, customers, and vendors in written and verbal form.
  • Practices, memorizes, and internalizes scripts.
  • Ability to block out distractions and listen intently to the conversation that is occurring.
  • Creates a sense of comfort and familiarity through their ability to build rapport.
  • Excellent organizational and time management skills.
  • Organized, systematic, and detail-oriented.
  • Results oriented and high achiever.
  • Basic understanding of computers and navigating the Internet.
  • Excellent organizational and time management skills.
  • Career development and training focused.
  • Confident telephone voice

Key Activities & Duties

  • Set weekly goals
  • Track all key business activities.
  • Measure conversion ratios and meet performance benchmarks.
  • Set up an “Ideal Week” that blocks time for activities designed to reach goals.
  • Attend training and establish daily role-play partners.
  • Willing to be held accountable for goals & results.
  • Call past clients and your sphere of influence to ask for referrals.
  • Manage contact database system.
  • Manage 50+ new leads each week & work existing leads to convert into buying/listing appointments.
  • Practice, memorize and internalize scripts at least 1-2 hours /week.
  • Prospect for new clients on a daily basis 1-2 hrs/day.
  • Do 5-10 hours of lead follow-up per week.
  • Make 50 to 100 contacts per week calling on:
  • Expired Listings
  • FSBOs
  • Center of Influence
  • Past Clients
  • Just Listed & Just Solds
  • Open Houses

http://therealestatetrainer.com/2014/12/10/inside-sales-agents-isas-real-estate-teams/

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So You Want to Start…Cooking Healthy ‹ Hello Healthy

Posted on January 18, 2015 by robertjrussellcompanies

Cooking healthy. For many of us, saying these two words together is a culinary kiss of death. You see, somewhere between the fat-free, reduced salt and sugar-free fads, “healthy” became synonymous with bland and unexciting.

Back when I decided to start “cooking healthy” shortly after graduating from college, I, like many others, made every mistake in the book. I skimped on the fat and sprinkled salt only sparingly. For years I chewed…and chewed…and chewed dreadfully dry chicken breast and tried to get excited about steamed, butterless broccoli.

That never happened–but with the help of cookbooks, beautiful food blogs, and a whole lot of hours in the kitchen, I gradually discovered that healthy cooking could actually be really tasty–and it didn’t mean skipping the butter on my broccoli. I grew to love cooking so much I started my own food blog, went back to graduate school to become a Registered Dietitian made myself a career out of enjoying healthy food!

If you too want to start cooking healthy, here are some tricks I learned along the way to take the headache out of, and put the taste back into, cooking healthy:

1. Find some reliable recipe resources. Don’t do what I did and get stuck in a bland broccoli rut for lack of a reliable recipe collection. Ask friends for cookbook or recipe recommendations and poke around online for some healthy food blogs to follow. The internet is laden with millions, maybe even billions of delicious, healthy recipes. When you find one that catches your eye, just bookmark, Pin or print it for later. CookingLight is a personal favorite for quick, easy, and reliably delicious recipes since they taste-test every single one in their amazing test kitchen.

2. Take it one dish at a time. Learning how to cook takes a bit of practice, so start simple and take it slow. Begin by selecting one new recipe, preferably one that’s done in 30 minutes or less. If you like it enough, perfect it next time by adjusting the seasoning to your tastebuds. Do this a few times a month and before you know it you’ll have a rotation of familiar favorites to choose from. You can even add your top recipes to the MyFitnessPal food database for quick and easy logging!

3. Don’t be afraid to try something new. When selecting healthy recipes, sticking to those with ingredients you know and enjoy is always a safe bet, especially if time is tight. But don’t forget to occasionally give a new, totally delicious looking recipe a try, or pick up an unfamiliar grain, fruit or vegetable the next time you spot one at the grocery store. A few years ago my husband introduced me to brussels sprouts in a way I had never had them before: roasted with just a bit of olive oil, sea salt and a dash of pepper. They’ve since become one of my all-time favorite veggies! Which leads me to #4…

4. Roast your vegetables. If you’re like me and don’t love raw veggies or salads (there, I said it…) roasting is an easy way to bring out great flavor. They almost always come out of the oven more sweet and irresistibly delicious. And because there’s no boiling involved, they tend to retain a good amount of their water-soluble vitamins and minerals. Coat them with a bit of olive oil to retain moisture and you’ll up the absorption of those healthy fat-soluble vitamins A, D, E and K too.

5. Learn some simple ingredient substitutions. Oftentimes adapting a decadent dish into something a little more nutritious can be as simple as swapping out one or two ingredients. For example, dollop some 2% Greek yogurt on top of your spuds in place of sour cream for a protein-packed potato. I’ve found Pinterest to be a great resource for healthy ingredient substitution ideas.

6. Write a grocery list. With takeout just a phone call away, not having the right ingredients on hand could be bad news if you’re trying to cook healthier. Grocery list writing is an underrated skill that can  not only save time but spare you the headache of having to beg your spouse to run back to the grocery store for you. I speak from experience. Once you have a recipe selected, jot down your list of items to buy as you poke through the kitchen cabinets and take inventory of what’s in the refrigerator. If you know your market well enough, organize foods by groups as they’re arranged in the grocery store (i.e. produce, meats, cheeses etc…) to save yourself even more time.

7. Make small Investments in cooking equipment. I never realized the value of an inexpensive slow cooker until I owned one. Now that I do though, I can’t imagine life without it. Certain kitchen gadgets really can simplify cooking, make your food taste better and reduce the amount of time and effort you spend in the kitchen. On my long list of must-haves:

8. Stock your pantry with some healthy essentials. When they’re on sale, stock up on canned beans and tomatoes, herbs and spices, soup stocks, nuts and whole grains like brown rice, quinoa and oats. Having a stash of healthy pantry staples will save time and money and allow you to pull together flavorful dishes when you have food in the fridge that needs to be eaten up.

9.  Put your trust in your tastebuds, not the recipe. Very rarely do I find a recipe that doesn’t need some sort of tweaking, even if it’s just a tad more salt or a little less spice. Whatever you do, don’t make a recipe and wait until it’s on the table to taste it. Recipes are guides, at best, and the only really way to end up with a truly satisfying dish is to taste along the way.

10. Make cooking a friend and family affair. I admit, with all of the peeling, slicing and dicing involved–with those veggie-heavy dishes in particular–sometimes cooking can feel like a chore. Involving the kids, your spouse, or inviting friends over to make dinner on the weekend can quickly make cooking healthy a fun and delicious occasion. Who knows, you may even acquire some buddies to swap recipes with in the process!

11. Resolve to learn a new culinary skill in 2014. Sign up for a cooking or knife-skills class this year. Becoming a better, faster and safer cook will only be more incentive to skip the takeout and make more healthful meals at home. As an added bonus, you can show off your new skills in the kitchen when your friends come over for dinner.

12. Consider a meal plan. If you’re feeling overwhelmed, signing up for a weekly meal planning service might help get you started. Meal plan recipes are generally geared towards newbie cooks, can typically be tailored to meet your individual dietary needs and many services provide some added perks like preparation tips and tricks or printable grocery lists. Check out our holiday gift guide for a few healthy meal planning services to consider.

I hope these tips help you be a little bolder in the kitchen when it comes to cooking healthfully.  Feel free to share any healthy cooking tips and tricks you’ve learned in the comments below!

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Can’t Pay Your Tax Debt ?

Posted on January 17, 2015 by robertjrussellcompanies

Currently Not Collectible is a program offered by the IRS for taxpayers experiencing economic hardship. This status means that the IRS will, for the time being, stop any collection action until the taxpayer’s situation improves.

There is no standard threshold to qualify for the Currently Not Collectible program, as there are numerous ways that a person can qualify. However, the typical Currently Not Collectible taxpayer usually is:

Unemployed or on a fixed income.

Sick or seriously ill and unable to work.

Unable to meet all of their current necessary monthly expenses.

Has little to no assets or equity that could serve as repayment of the tax debt.

If a taxpayer is accepted into the Currently Not Collectible program, the IRS will review their financial circumstances periodically. If the IRS sees that the taxpayer’s ability to pay has changed, the status of Currently Not Collectible will be reviewed.

Circumstances that may qualify for the revocation of a Currently Not Collectible status include:

Returning to work

Receiving a raise or promotion

Recovering from an illness

Failing to file and pay taxes

The Currently Not Collectible program does not prevent a Federal Tax Lien from being filed by the IRS, as well as it does not extend the Statute of Limitations a taxpayer has to pay the federal tax debt.

via Currently Not Collectible | Tax Defense Network.

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Tenant Rights – Florida Law

Posted on January 13, 2015 by robertjrussellcompanies

When a person pays to live in a house, apartment or mobile home, the renter becomes a tenant governed by Florida law. It doesn’t matter whether payment is made weekly, monthly, or at other regular periods.

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Also, it doesn’t matter whether the apartment, house, or mobile home is rented from a private person, a corporation, or most governmental units. These facts are true even when this is no written lease agreement.

A tenant has certain basic rights protected by Florida law, which the landlord must observe. Of course, the tenant also has certain responsibilities.
The tenant’s rights are specified in the Florida Statutes at chapter 83 part 2. A tenant in public housing has rights under federal law, as well. If there is no written lease, these laws regulate the tenant’s rights. There may also be a written lease which could affect a tenant’s rights. If there is a written lease, it should be carefully reviewed. The Landlord-Tenant Law prevails over what the lease says.

A tenant is entitled to the right of private, peaceful possession of the dwelling. Once rented, the dwelling is the tenant’s to lawfully use. The landlord may only enter the dwelling in order to inspect the premises or to make necessary or agreed repairs, but then only if he or she first gives the tenant reasonable notice and comes at a convenient time. If an emergency exists, the requirement for notice may be shortened or waived.

The landlord is required to rent a dwelling that is fit to be lived in. It must have working plumbing, hot water and heating, be structurally sound and have reasonable security, including working and locking doors and windows, and it must be free of pests. The landlord must also comply with local health, building, and safety codes. If the landlord has to make repairs to make the dwelling fit to live in, the landlord must pay.

If the landlord claims the tenant has violated the rental agreement, he or she must inform the tenant in writing of the specific problem and give the tenant time to correct the problem–even if the problem is non-payment of rent–before the landlord can go to court to have the tenant removed. If the tenant commits a serious act endangering the property (such as committing a crime on the premises) or the tenant fails to correct a problem after written notice from the landlord, the landlord must still go to court to be permitted to evict the tenant. In any court proceeding, the tenant has the absolute right to be present, argue his or her case, and be represented by an attorney.

If the landlord requires the tenant to pay a security deposit, the landlord must preserve the deposit during the tenancy. In addition, the landlord must return the full amount of the deposit within (15) days after the tenant leaves the dwelling or give the tenant written notice of why some or all of it won’t be returned within thirty (30) days after the tenant leaves the dwelling. The tenant then has the right to object in writing within fifteen (15) days of receipt of the notice. Under some circumstances, the tenant may receive the security deposit plus interest. Before moving out the tenant must provide the landlord with an address for receipt of the security deposit, or else the tenant may lose the right to object if the landlord claims the right to keep the deposit money.

The tenant has the right, under certain very aggravated circumstances caused by the landlord’s neglect, to withhold rent. This can only be done when the landlord fails to comply with an important responsibility, such as providing a safe and habitable home in compliance with local housing codes. Before rent is withheld, the tenant must give the landlord seven (7) days written notice of the problem so the landlord can fix it. Even after withholding rent, the tenant should preserve the money and seek court permission to spend part of it to do what the landlord should have done. If the tenant does not preserve the money and seek court assistance, the tenant may be evicted for nonpayment.

Finally, the tenant has the right to move out. If there is a written lease, the tenant can move out when a written lease is up. If there is no written lease, the tenant may move out for no reason by giving written notice of his or her intent to leave no less than seven (7) days before the next rent payment is due if the rent is paid weekly or fifteen (15) days if the rent is paid monthly. The tenant may terminate the rental agreement if the landlord has failed to live up to one of his or her major obligations, provided the tenant has sent written notice to the landlord, seven (7) days before the rent is due (there are some exceptions to the right to move out).

If a landlord loses in court, the landlord may be held liable for any costs and attorney’s fees incurred by the tenant. If the tenant loses in court, the tenant may be liable for the landlord’s costs and attorney’s fees.

A tenant also has responsibilities, which if not observed can lead to eviction. The tenant must pay the agreed upon rent and do so on time. The tenant must comply with building, housing, and health codes. The tenant must maintain the dwelling without damage, keep the dwelling clean, and maintain the plumbing. The tenant must not violate the law or disturb the peace, nor allow guests to do so.

In trying to evict a tenant, a landlord will try to prove the tenant violated a tenant responsibility. However, the landlord may not seek to evict a tenant in retaliation for legitimate complaints about housing conditions to proper authorities. No eviction can occur, though, until the landlord first gives the tenant notice of the problem, and then gets a court order. Without the court order, the landlord has no power to interfere with the tenant. The landlord cannot, for instance, lock a tenant out or cutoff tenant’s utilities. A landlord engaging in this type of prohibited practice may be liable to the tenant for damages in the amount of three months’ rent or actual damages whichever is higher. The landlord must get a court order of eviction before he or she can interfere with the tenant’s occupancy. If a tenant is served with papers seeking eviction, the tenant should immediately seek legal assistance. The tenant may have legal defenses. For instance, the landlord cannot try to get even with a tenant by evicting him or her when the tenant has not violated tenant responsibilities. To raise defenses in an eviction proceeding, a tenant normally must pay into the court registry past due rent if any is owed and rent which comes due during the proceeding. If the tenant disputes the amount of rent claimed to be due, he or she may ask the court to determine the correct amount, but the tenant must show why he or she believes the amount is wrong. In an eviction proceeding, a tenant has very little time to respond, so quick action is extremely important.

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The Biggest Thing to Hit Texas!

Posted on January 10, 2015 by robertjrussellcompanies

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Click the Link to Switch your electric company – No Enrollment Fee – No Sign Up Fee – No Credit Check – Save Money on your Electric Bill

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http://www.enfinitiglobal.com/robertjrussell

 

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Watch American Sniper on My Blog (Click here)

Posted on January 9, 2015 by robertjrussellcompanies

http://afdah.com/embed/2179136

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