Residential Leasing - Free Resources for Residential Leasing Agents, Real Estate Brokers, Property Managers, Residential Letting Agent, Residential Leasing Brokers, Rental Property Manager

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PRODIGYŽ means Professional	Many jurisdictions have tough legislations on residential tenancies as compared with commercial ones. Practitioners should get familiar with those laws when trading in residential leasing. Residential rent is normally gross. That's, rent includes management fee, fire insurance and property tax; sometimes it also includes utilities (apartments that include utilities in their management fees). The lease term is normally one year, then month to month with 60 days notice requirement to terminate the tenancy. It will be difficult to terminate a tenancy if there is a lease on it. It requires mutual agreement to terminate the lease before the lease term ends. With the rise of grow-ops (illegal operations that grow marijuana), landlords are more concern about the background of their tenants. In the past, only large houses were used for grow-ops as the growers needed large space for their operations. Now, small condo apartment units are also targeted by those organizations for grow-ops. Since the operations are small and they don't need to steal electricity from the outside (most condo have utilities included in their management fee), it is not easy to notice a grow-op in a condo apartment. Grow-op brings a series of problems to the landlords and the financial loss can be very significant. It is therefore crucial to check the potential tenant's credit history, employments and get reference to verify the fact before committing to any tenancy. When compare to commercial properties, the vacancy rates in residential properties are low and steady. It is because everyone needs a shelter, but not everyone needs a place for business use.
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