Smart Landlords Use Very Smart Leases
The longer you are a landlord the more you strive to create the perfect lease/rental agreement. Landlords learn in the school of hard-knocks that some tenants are certified trouble makers and we try our best to protect ourselves with a carefully structured restrictive lease.
That's just good business.... but be careful you don't include any provisions in your lease that may not be legal. For example...
It would be illegal to include a provision that states the resident agrees not to include his or her lease (the lease on your property) in their bankruptcy filing...
should their bankruptcy become necessary.
Bankruptcy laws are Federal.. lease law is state law.
Anyone can file for bankruptcy and invoke all protections afforded to them by the U.S. Bankruptcy Code... including not making lease payments... at least temporarily.
Here's another caution...
It would be illegal for your lease to require that residents be responsible for injuries he or she sustain during the lease term.
The law can legally hold landlords liable for damages and injuries caused due to negligence. A landlord cannot contract that away.
How about repairs....
The same would apply to a requirement that the tenant be responsible for all necessary repairs. In every state the law mandates that landlords perform certain repairs to maintain the property and keep it habitable.
Does your lease contain a clause concerning attorney fees?...
Requiring a renter to pay for all of the landlord's legal fees and costs regardless of a court case out come would also be a lease no-no.
Most good leases have stood the test of time and will help you avoid legal problems. Just don't ask tenants to sign it until you have read and completely understand every line of the lease you are using.
You'll find the lease we use here...
http://digbig.com/4ckcd
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Consolidating Your Credit Card Debt
Copyright 2005 MHG Consulting
Credit cards have revolutionized the purchasing experience since Diners Club released the first credit card in the year 1950.
The Dinners Club credit card gave consumers limited credit that, at times, even surpassed the personal savings of some participants. It allowed them to buy items they usually could not afford if they were to make a straight cash purchase. It also provided the convenience and safety of not having to carry large amounts of cash.
On average, American households possess 4 credit cards or a total of 13 payment cards if debit cards and store cards are included. There are, actually, 1.3 billion payment cards of assorted types in circulation in the United States.
But, if you think that credit cards have made the lives of modern American consumers easier, you may be wrong...
Statistics show that the average credit card debt for each household in the U.S. is $4,800 per month....
Bankruptcy > Consolidating Your Credit Card Debt
Debt consolidation ? Options for Reducing Your Debt
Studies show that Americans are now saving less than ever before. Along with that, Americans are carrying a heavier debt load than ever. It's easy for a home loan, a car loan and a few credit card bills to get out of hand, and many people are struggling with more debt than they can easily pay. To make matters worse, new bankruptcy legislation will make it harder than ever to file bankruptcy for those who simply cannot pay their bills. There are a number of solutions available that allow most people to reduce their interest rate on their debt, reduce their total monthly payment, or both:
If you have been making payments regularly, and you haven't had a history of late payment, you may be able to lower your interest rate on your credit cards simply by calling your credit card company and asking them! It doesn't always work, but the market for credit cards is pretty competitive these days, and many lenders would rather lower your interest...
Bankruptcy > Debt consolidation ? Options for Reducing Your Debt
One-Stop Online Source for the New Bankruptcy Law
Chicago, IL (ContentDesk) October 6, 2005 -- Start Fresh Today, Inc. is the first and only complete solution on the market.
Using a secure link on the Internet, they provide the tools attorneys need for the Bankruptcy Abuse Prevention and Consumer Protection Act, taking effect October 17, 2005.
The platform includes the Means Test, Credit Counseling Briefing, Due Diligence, and Debtor Education.
With the ease and convenience of the Web, attorneys can register and use the Means Test free of charge.
If clients use the Credit Counseling Briefing, Educational Course, or Due Diligence portions, then a fee will be assessed.
Discount packaging will also be available to keep the costs down for attorneys and clients. The key concept is the critical balance between complete compliance and keeping client costs at a reasonable level, states Kevin Chern, president of Start Fresh Today, Inc.
With Start Fresh Today, all documentation is stored...
Bankruptcy > One-Stop Online Source for the New Bankruptcy Law
Individual Voluntary Arrangement Can Prevent Bankruptcy
(ContentDesk) July 16, 2006 -- Bankruptcy is on a steep rise in the UK. Part of the problem is a misconception that going bankrupt represents a soft option when dealing with serious debts and insolvency, say debt help experts The Debt Counsellors, who are urging people with serious debts to consider the Individual Voluntary Arrangement as an alternative.