Rent to Own in Miami

Some potential homeowners who are not able to purchase a home right away consider rent to own options instead. A rent to own option, often referred to as a lease, is essentially a rental contract for the rental of a property which includes the stipulation that the renter will be given the option of purchasing the property at the conclusion of the lease. This type of rental agreement may not be worthwhile for all renters but there are some who will find this type of agreement to suit their needs quite well. In particular renters with bad credit who might be unable to buy a home otherwise and renters who aren’t quite sure they really want to buy a home. It can also be a worthwhile agreement for homeowners who are planning to sell their home buy may not want to sell it immediately.

When Your Credit is Bad

Potential homeowners with bad credit may find a rent to own situation may be just what they are looking for to help them purchase their dream home. There are a variety of financing options currently available and it is likely even homeowners with poor credit can find a financing option but it is not likely this option will be favorable. Homeowners with poor credit are often shackled with unfavorable loan terms such as higher interest rates, requirements to pay points and adjustable rate mortgages instead of fixed rate mortgages. In these situations, it might be worthwhile for the renter to repair his credit before attempting to purchase a home.

One of the best ways to repair credit is to maintain good credit in the present and into the future. Most blemishes on credit reports are erased after a certain period of time. Renters who have poor credit can work on repaying their current debts in a timely fashion and with time their credit score will improve. During this time participating in a rent to own program allows the renter additional time to repair his credit and may also allow the renter to accumulate financial resources which will enable him to purchase the home when the lease period is over.

When You Just Aren’t Ready to Buy a Home

Some renters opt for a rent to own program when they aren’t quite sure they really want to own a home. In these types of agreements, renters are given the option of purchasing the home at the end of the agreement period but they are not obligated to purchase this home. This allows the renter to see what it is like to own a home without having to commit to homeownership.

Renters who are renting a home may learn a great deal about homeownership during the rental period. This may include information about maintaining the landscaping of the property and dealing with conflicts with neighbors. It may also entail caring for and maintaining a significantly larger domicile than most apartment renters have to maintain. Some renters are not quite sure they are ready to handle all of these issues and may use a rent to own agreement as a trial period to determine whether or not homeownership suits them.

When the Homeowner Just Isn’t Ready to Sell

Some homeowners offer a rent to own option when they plan to sell their home but do not want to do so immediately. Some homeowners may be hoping for property values to rise before they sell their home so they can either regain the amount they have invested in the house or profit from the purchase price of the home. These homeowners might choose to rent out their home during this time and offer the renter the option of purchasing the house after a set time period. This enables the seller to earn an income from rent while they are no longer living in the home. The rent they charge to the renter is often enough to cover the mortgage and yield a profit making it a financially wise decision for the seller.

Renting with Dogs in Miami

Renters who have a dog or more than one dog may face additional challenges when renting an apartment or a house. One of the primary challenges the renters may face is finding a living situation which is acceptable to them and also willing to accept their pets. This can be difficult as many rental properties do not allow dogs at all. Those who do allow animals on the property may place certain restrictions on they size and breed of dog which may reside on the property.

Finding an Acceptable Living Situation

The first step in renting with dogs is to find an acceptable living situation. For those who wish to rent with dogs, the first question to be asked should be whether or not dogs are allowed to live on the property. This is important because it can save the renter a great deal of time. The renter may otherwise invest a great deal of time learning more about the property or even undergoing a credit check only to find out pet are not permitted.

For some dog owners, finding a rental situation which allows dogs is not the end of the search. The renter should also confirm the type of dog he owns will be allowed to live on the property. This may include both the size of the dog as well as the breed as some apartment complexes place limitations on the size of the dog and also prohibit certain breeds. Again confirming these facts early in the search for an apartment can be a tremendous time savings especially for those who own large or commonly banned breeds.

Renters should also consider the surrounding area when selecting a rental property. An ideal location would be one in which there is an adequate location to walk and exercise the dogs. Areas with large grassy areas may be ideal while areas which do not have a location to walk a dog may be problematic.

Read Contracts Carefully

Renters who have dogs should read their contract carefully before making a decision to rent a particular property. This is important because many landlords may impose restrictions on renters who own dogs. These restrictions may include, but are not limited to, requiring an additional security deposit for the renter, requiring specific cleaning methods on the carpets after the renter vacates the apartment and holding the renter responsible if the dog engages in nuisance barking. Nuisance barking can be a problem in apartment situations where the apartments are located close together and even share a common wall. Renters should be aware that in some situations, nuisance barking can be a cause for eviction. For these reasons, renters who own dogs should take the time to familiarize themselves with the rental contract.

Take Care of Your Rental Property

Finally, renters who have dogs may have to take additional efforts to maintain their apartment. This may include more diligent cleaning, especially of the carpets. Renters with dogs should respond quickly to accidents in the house to minimize the possibility of permanent staining and odors. Each accident should be addressed immediately and every effort should be made to clean the affected area completely.

Renters with dogs should also vacuum regularly especially if their dog is a heavy shedder. This will help to keep the living environment cleaner and will also minimize the amount of cleaning required when the renter vacates the property. Regularly vacuuming will prevent hair from being embedded into the carpet so deeply that it is difficult to remove.

Finally, renters with dogs should take care to pick up after their dogs while on walks and to keep their dogs leashed while in common areas. Many cities have leash laws and laws regarding picking up after dogs. Even if these laws are not in effect, renters should follow these policies as a courtesy to their neighbors. Additionally, keeping dogs on leashes during walks helps to ensure their safety by preventing them from running into the street.

Rental Swaps in Miami

Some vacationers find a rental swap to be an ideal situation when they are traveling. Homeowners, especially in desired locations, may find there is a great deal of interest from others who would like to rent their home for a short period of time. Typically this is about one to three weeks although it may be longer or shorter in some cases. A rental swap is essentially where a homeowner in one location offers the use of their home to another homeowner in exchange for use of the other homeowners home. Ideally these swaps will take place concurrently but in some situations swaps are organized at different times of the year.

A Rental Swap Saves You Money

For many a rental swap is worth considering because it can result in a tremendous financial savings. Lodging often accounts for a large portion of a vacationers travel expenses. By eliminating these costs the vacationer may find they are able to add additional aspects to their vacation. For example, by eliminating lodging costs, a vacationer may have money left over in the travel budget to see a few plays, eat dinner at extravagant restaurants or purchase tickets to sporting events.

A rental swap, however, does not always automatically translate to a financial savings. Consider the cost of staying in a hotel within walking distance to major attractions as opposed to participating in a rental swap 10-20 miles away from most major attractions. In the case of the rental swap, the vacationer will most likely have to rent a car during their stay but might not have to do so when staying in a hotel. The need for a car, whether or not the kitchen in a rental swap will be utilized to cook meals and other factors should be considered in determining whether a rental swap or hotel stay is more financially logical.

A Rental Swap is More Comfortable than a Hotel

In most cases a rental swap usually results in a more comfortable stay than a visit to a hotel. Of course there will always be situations in which the quality and even the size of the hotel may be superior to the conditions of the rental shop but for the most part, vacationers usually feel more comfortable in a rental swap situation. Staying in a home typically provides the vacationer with more privacy as well as the ability to spread out a little more. This can be very beneficial for keeping the peace especially for large families who may quickly feel overcrowded in a hotel situation.

There are Risks to a Rental Swap

While a rental swap may certainly seem appealing, there are some inherent risks to this type of lodging situation. First of all the possibility of the rental property not being exactly as described is a very real risk. Homeowners may exaggerate the appeal of their property either intentionally or unintentionally. Regardless of the intent of the homeowner, the vacationer may still find themselves in a situation where they are disappointed with the accommodations. This may be because the house is not as large or well appointed as described or because the house is older and less well maintained than depicted.

Another risk to a rental shop is the possibility of the other homeowner not noting the correct dates. Although this is also a possibility with a hotel, it can be more troubling when the vacationer was counting on the rental swap for their accommodations during the stay. While a hotel might make every effort to accommodate the hotel guests when there is a mistake, homeowners in a rental swap may not have the available resources to find an alternate place for the vacationers to stay.

One final risk which exists in a rental swap, is potential damage to your own property when you allow others to use the property. Homeowners can work to minimize the trouble in these situations by screening those who they are considering for a rental swap carefully. Additionally, homeowners can take security measures by alerting the police as well as neighbors that a stranger will be staying in the home. This will help everyone to be more vigilant and aware of the potential for problems.

How Much Apartment Can You Afford in Miami?

Deciding how much apartment they can afford is one of the most important decisions a renter will have to make. This decision will help to determine a number of factors include the size and location of the potential apartment as well as the types of amenities offered. Those who are interested in renting an apartment will have to consider all of their current expenses in comparison to their monthly cash flow. They will also have to determine whether or not there are changes they can make to their current budget to make a larger or more well situated apartment affordable.

Consider All of Your Expenses

When deciding how much apartment they can afford, renters should carefully consider all of their monthly expenses in relation to their monthly income. Expenses may include, but are not limited to, utilities such as gas, water and electric, telephone, cell phone, Internet services, cable television, car insurance, renter’s insurance, gas for car, cost of commuting to work, groceries and other incidental charges. Subtracting these costs from the monthly income will give the renter a good idea of how much money they can afford to spend on rent each month. Renters might also consider subtracting an additional amount out of their monthly income to give them the opportunity to save some money each month.

Expenses to be considered should also include expenses for entertainment purposes such as dining in restaurants, going to movie theaters or cultural events. Even movie rentals should be considered in this category. Considering these expenses is necessary because otherwise the renter may not allot a portion of their budget for such purposes and may find themselves unable to participate in some previously enjoyed leisure activities.

Is There Room for Improvement?

When examining the monthly budget, renter should take the opportunity to determine whether or not there is room for improvement in their current financial situation. For example a renter may find they are able to minimize their monthly bills by obtaining their car insurance and renter’s insurance from the same insurance carrier. The carrier may be willing to offer a discount to a customer who utilizes their services for more than one type of insurance. Likewise there may be the opportunity to minimize expenses by bundling services such as telephone, Internet and possibly even cable television.

Also, consider entertainment expenses as an opportunity for financial improvement. If a renter currently eats out in restaurants for dinner on both Friday and Saturday of every week, they could consider limiting these dining experiences to only one night a week or even only one night every other week. This can result in a significant cost savings which may enable the renter to afford a more expensive apartment.

Other areas where renters can sometimes cut expenses are on cell phone bills and cable television bills. Examine your cell phone bill carefully. If you are not using all of your minutes each month, it might be worthwhile to switch to a plan with fewer minutes. This would lower your monthly bill without causing you to make any sacrifices. One area where sacrificing might contribute to more monthly cash flow is with cable television. Renters who pay higher fees for premium channels can consider eliminating these channels. All of these small changes to monthly spending can contribute to the renter being able to afford a more expensive apartment which may be larger or in a better location than the apartment they would be able to afford without making changes.

Is There a Need for Improvement?

Although trimming superfluous expenses is always a good financial strategy, renters should determine if this is necessary in terms of their rental situation before making drastic changes. Once a renter has established the amount of money they can afford to spend in rent, they can start to look for available apartments in that price range. If the renter is happy with the choices available to them at this time, there may not be a need to make financial adjustments at this time. However, if the renter is not happy with the options available, financial changes and stricter budgeting are warranted.

Getting Your Security Deposit Back on an apartment in Miami

For many renters the subject of the security deposit is somewhat of a touchy subject. Most renters assume they should receive their security deposit back in its entirety as long as there is no significant damage done to the apartment. However, this is rarely true as there are number of factors which contribute to whether or not the security deposit or a portion of the deposit will be returned to the renter when they vacate the premises.

Did You Do Any Major Damage?

Certainly doing major damage to the apartment such as putting holes in the walls, breaking appliances or tearing up the flooring may warrant the security deposit being kept but even in these cases the leasing agent must justify these costs. In other words the leasing agent cannot use one damaged item to justify keeping the whole security deposit. Rather the leasing agent is obliged to determine a cost to repair the item. If this estimate is large enough to justify not returning the security deposit the renter should be informed of the estimated cost of repairing the apartment.

Is Your Apartment Clean Enough?

All apartments should be cleaned thoroughly before the tenant vacates the property. This should include extensive cleaning of all rooms of the apartment including the bedrooms, bathrooms and any common areas. A cleaning should also include cleaning of all of the blinds in the apartment. Blinds can be rather difficult to clean and many leasing agents charge approximately $10 per blind if they deem there is a need to clean these items. This can add up rather quickly if there are a number of windows in the apartment.

Many leasing agents also perform a number of standard cleaning functions when any resident vacates the property. This may include items such as cleaning out the refrigerator, shampooing the carpet or repainting the walls. When these items are required, there is typically a fee associated with each item. In many cases, adding up these required fees results in a number which is likely already approaching the sum of the security deposit. Additionally, leasing agents often only allow for one hour of cleaning services to prepare an apartment for the next residents. This is rarely enough time to complete the work and therefore renters wind up being charged an additional fee at an hourly rate.

Have You Read Your Contract Documents?

Renters who want to have the greatest chance of having a large portion of their security deposit refunded to them should be very familiar with their contract documents. This is important while living in the apartment as well as while getting ready to vacate the apartment. It is important to be familiar with the contract terms while living in the apartment because it can prevent the renter from making decorating choices which are explicitly prohibited by the rental agreement. These types of decisions can be costly in the long run because they may result in the renter being assessed for perceived damages by the leasing agent.

Renters should also carefully review the contract documents as they are preparing to vacate the property. This is important because it may help the renter to clean and make repairs to the apartment in accordance to guidelines set forth by the leasing agent. Doing this will make it much more likely the renter will not be assessed exorbitant fees at the conclusion of the rental agreement.

Furnished or Unfurnished? apartments in Miami

Renters will often be faced with the decision of whether to opt for a furnished apartment or an unfurnished apartment. The majority of apartments available for rent are likely to be unfurnished apartments but there are some apartments which are available with furnishings. There are some situations in which it makes sense to choose a furnished apartment. Likewise there are situations in which a furnished apartment is not a good idea. This article will discuss these situations in an effort to assist the reader in determining whether or not it is better to rent a furnished apartment or an unfurnished apartment.

What Does Furnished Mean?

A furnished apartment may mean different things to different people. Some renters may expect a furnished apartment to have each and every room completely furnished with every possible piece of furniture. Typical furnishings may include a bed, a dresser, nightstands, alarm clock with built in radio, a television, stereo equipment, DVD player, an entertainment center, couch, coffee table, end tables, kitchen table and kitchen chairs. It may also include dining room furniture such as a dining room table, chairs and a curial cabinet. Others may assume a furnished apartment includes only the necessary furnishings such as a bed, couch, kitchen table and chairs. This essentially eliminates all electrical equipment as well as furniture deemed to be decorative in nature such as a coffee table, end tables or nightstands.

When is a Furnished Apartment a Good Idea?

A furnished apartment is a good idea for recent college graduates who lived on campus in a dorm room prior to graduation. These students likely have very little furniture of their own. In this case, renting a furnished apartment may be more economical than purchasing enough furniture to live comfortably in the apartment.

The overall cost of a furnished apartment may be higher in the long run because the renter may pay more but those who are unable to pay a great deal of money upfront to furnish an apartment might not mind paying this additional amount. For these renters, they are not likely to notice the impact of a slightly higher monthly rent payment but they would definitely feel the impact of significant purchases such as a bed, couch or dining room set.

When is an Unfurnished Apartment a Good Idea?

There are certain situations in which an unfurnished apartment is a good idea. This includes a situation where the renter has already accumulated enough furniture to furnish the entire apartment. In this case, selecting a furnished apartment would not make sense because the renter would have to find a location to store either his own furniture or the furniture supplied by the apartment complex. The cost of storage can add up very quickly. Additionally, the renter probably pays a higher rent to stay in a furnished apartment.

An unfurnished apartment is also a good idea when the renter currently does not have any furniture but is looking forward to purchasing furniture and has already saved up enough money to make these purchases. In this situation the renter will likely select an unfurnished apartment and plan on shopping for furniture almost immediately after taking possession of the rental property.

Storing Extra Furniture

Renters who opt for a fully furnished apartment when they already have a sufficient amount of furniture have to determine what they will do with their furniture while they are staying in the rental apartment. The options are basically as follows:

* Sell or give away all currently owned furniture
* Store your own furniture
* Store the furniture which comes with the apartment

While each of the above options is certainly valid, the renter should seriously consider whether or not they want to pay additional storage fees just to rent a furnished apartment. Renters who plan to sell or donate their current furniture do not face this dilemma but those who plan to store one set of furniture should carefully consider the price of storage. They should also consult with the leasing agent to determine if there are any contract items which prohibit placing furniture owned by the apartment complex in an offsite storage facility. There may be provisions which allow for these items to be stored but require them to be stored onsite.