T HINGS TO K NOW Rent Stabilization for Tenants, Landlords and Real Estate Brokers.

Slides:



Advertisements
Similar presentations
Real Estate Principles, 9th Edition
Advertisements

A Move to the City 6th Period English April 8, 2013.
RURAL PROPERTY RIGHTS AND INTEREST LAND IS SELDOM HELD IN FEE SIMPLE DUE TO ACCESS EASEMENTS, UTILITY EASEMENTS, MINERAL RESERVATIONS, AND OTHER ENCUMBRANCES.
Landlord/Tenant Law Business & Personal Law Gary Nelson April 2001.
Renting Realty Chapter 22.
Renting & the Law CHAPTER 33. Renting & the Law: Chapter 33  The person who rents property is the Tenant or Lessee.  The person who owns property and.
Real Estate Law Residential Leases Real Estate Law Residential Leases.
RSO & Relocation December What Does Rent Stabilization Do? Controls rents (Vacancy decontrol) Limits evictions (12 Legal Reasons) Requires relocation.
Chapter 11 Rentors/Landlords. Vocabulary Tenant – a party to a lease who pays rent to the landlord in exchange for the possession and use of real property.
1 ARE 306Unit 15 Tenancies. 2 Definitions l Lessee l Lessor l Rent.
Chapter 13 Leasehold Estates 2010©Cengage Learning. All Rights Reserved.
Renting or Owning??? Principles of Law Mrs. Pollison.
Renting. Types of housing available Studio Apartment Condominium Single family home Town house Duplex Mobile home Rented room in house Cooperative apartment.
 ‘Trade-Offs’  Interest › Lost with a down payment/security deposit  Commuting › Driving to work daily › Time vs Cost  Time & Money › Lower/older.
Kirsten Ruliffson Program Manager – Real Estate, Rental and Intern Housing.
Protecting the Property Manager at Foreclosure: What You Need to Know Presented by Abby Lee August 20, 2014.
Tenant Package Coldwell Banker Pioneer Real Estate Property Management Division Sunnymead Blvd. Moreno Valley, Ca off (951) fax (951)
CHAPTER 17 Ownership and Leasing of Real Property
Chapter 9.1: Rental Agreements
© 2013 All rights reserved. Chapter 8 Property Management New York Real Estate for Brokers, 5 th e By Marcia Darvin Spada Cengage Learning.
Real Estate Principles and Practices Chapter 14 Leases © 2014 OnCourse Learning.
© 2015 OnCourse Learning Chapter 13 Leasehold Estates.
Real Estate Principles and Practices Chapter 14 Leases © 2010 by South-Western, Cengage Learning.
Financing a Place to Live: An Intro to Housing Costs
Law for Business and Personal Use © South-Western, a part of Cengage LearningSlide 1 Chapter 18 Ownership and Leasing of Real Property Chapter 18 Ownership.
Chapter 29 LANDLORD AND TENANT. WHAT IS A LEASE? n Lease an agreement in which one party receives temporary possession of another’s real property in exchange.
Renting or Owning a Home Chapter 9. What do you know about renting a house or apartment? Lease terms, landlord and tenant responsibilities, deposits,
Contracts Lesson Five. Learning Objectives  Review meaning of leasehold estate.  Learn and understand lease rights.  Become familiar with the various.
RENTING 9 th Grade Business Application Application form a document used to determine person’s credit history, financial stability, and references.
Chapter 16. Georgia Real Estate An Introduction to the Profession Eighth Edition Chapter 16 Real Estate Leases.
Revised Chapter 17 Slide # 1 Copyright – David A. McGowan All rights reserved Chapter 17 LEASES (Page 330) Landlord Property owner Lessor Tenant.
LEASING REAL PROPERTY ► CHAPTER 13 © 2009 South-Western, Cengage Learning.
LANDLORD AND TENANT RESPONSIBILITIES. Landlord responsibilities: To have the premises ready when the renter is ready to move in Premises must be habitable.
Chapter 7 REAL ESTATE LEASES Real estate leases are contracts that transfer the rights of use and possession, but not ownership of real estate between.
Chapter 5 Deeds and Leases. Deeds  Written document that transfers title (ownership) of real estate  Necessary Elements of a Deed Designation of the.
Rental units come in all shapes and sizes, from single-family homes to multistory high-rises that contain hundreds of units. This block of historic apartment.
Chapter 8 Contracts and Transferring Real Estate Interests “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner.
Rights and Responsibilities of Renting or Buying a Home.
Renting or Owning a Home. Exciting event Learn about the rights of landlords and tenants in various kinds in of tenancies Types of co-ownership and deeds.
Renting BASIC TERMS, RIGHTS, AND RESPONSIBILITIES.
TENANTS 101 The rights and responsibilities of renters in the City of West Hollywood 2/5/2014.
LAW IN AMERICAN SOCIETY RENTING AN APARTMENT. 1.tenant: person who rents the space 2.landlord: the person who owns the space.
Renting CMAGNO. Did You Know? 1/3 of all people in the U.S. rent Who are these people? – Majority are: singles, young couples, and senior people – Many.
TENANTS 101 The rights and responsibilities of renters in the City of West Hollywood 1/26/2016.
The Rental Agreement Section Understanding Business and Personal Law The Rental Agreement Section 33.1 Renting a Place to Live Section 33.1 The.
Ch. 28 Housing Law. Buying a Home Major Purchase Major Purchase Many people finance home with a mortgage. Many people finance home with a mortgage. Interest.
Chapter 18 Ownership and Leasing of Real Property
Rental Agreements Moving In, Moving On
Chapter 9.1: Rental Agreements
Family Economics and Financial Education Take Charge of your Finances
Florida Real Estate Principles, Practices & Law 39th Edition
Securing a Living space
Tenanted Properties.
Contracts Lesson Five.
Family Economics and Financial Education Take Charge of your Finances
Renting a Residence.
Understand Sales, Consumer, Property and Cyber Laws
Objective 2.02 ANALYZE financial and legal aspects of renting.
Family Economics and Financial Education Take Charge of your Finances
Landlord Basics Gain a basic understanding of the Rent Stabilization Ordinance, landlord rights and responsibilities.
Jeopardy Real Estate Edition.
City of Marathon Vacation Rental Training Session
Tenants 101 The rights and responsibilities of renters in the City of West Hollywood 1/26/2016.
The Rights & Responsibilities Issue
Securing a Living space
Family Economics and Financial Education Take Charge of your Finances
Family Economics and Financial Education Take Charge of your Finances
Family Economics and Financial Education Take Charge of your Finances
Chapter 10 Vocabulary.
Securing a Living space
Presentation transcript:

T HINGS TO K NOW Rent Stabilization for Tenants, Landlords and Real Estate Brokers

Tenants Responsibilities Pay rent, including reg. fee pass through Abide by provisions of lease Notify landlord of changes in occupants Provide 30-day written notice when moving Rights Annual rent increase allowed Unit must meet RSO maintenance requirements Housing services cannot be reduced Off street parking cannot be changed Just cause evictions No fault evictions with proper notice and relocation fees Protection from harassment

Landlords Ongoing obligations to the City Provide ownership info and update it as needed Pay annual registration fees File and renew exemptions and notify RSH of changes Register new tenancies Rights and responsibilities Annual rent increase allowed Comply with RSO maintenance requirements Just cause evictions No fault evictions with proper notice and relocation fees Pay interest on security deposits

Real Estate Brokers Find out RSO status of the property Fees/Penalties Unit registrations/re-registrations Legal MARs verified with rent roll New owner responsible for overcharges Just cause eviction or relocation fees required Rent stabilized property All rented condominiums and single family homes New construction units Just cause does not include Expiration of lease Month-to-month tenancies Remodel Renting to someone else

Real Estate Brokers Relocation fees required Owner/owner’s-relative occupancy Withdrawal of units from rental market (Ellis) Transfer from seller to buyer Security deposits and interest Leases/rental agreements Rent increase info and tenancy re-registrations Update owner info with RSH Right to Show Unit Regular business hours Written notice of sale for right to enter with oral notice