With the wide gap, that now exists between long term and short-term income there has never been a better time for an occupier to obtain an incentive from the landlord to extend their commitment at a property.
In many cases, landlords are now prepared to offer tenants better regear incentives, mainly in the form of rent-free or cash premiums, as there is a more marked increase to the value of their investment through extending lese terms to good covenants. In addition, the advantage for landlords of keeping their options open at lease expiry for redevelopment has reduced as in many cases the market rents have fallen to a level that does not justify redevelopment.
With landlords more willing to offer higher regear incentives tenants are being receptive to offers. Since 2007 tenants have been placing more of a priority on cash generation/cost savings and this has helped to counter tenant’s existing arguments against regears such as the difficulty of identifying their core estate and therefore the need to maintain flexibility.
What we have also seen is the SDLT efficiency of re...
This case study examines various real estate contracts – the Real Estate Purchase Contract (REPC) and two addendums labeled Addendum No. 1 and Addendum No. 2 – pertaining to the sale of 1234 Cul-de-sac Lane in Orem, Utah. The buyers in this contract are 17 year old Jon D’Man and 21 year old Marsha Mello; the seller is Boren T. Deal. The first contract created was Jon and Marsha’s offer to purchase Boren’s house. This contract was created using the RESC form, which was likely provided by their real estate agent as it is the required form for real estate transactions according to Utah state law. The seller originally listed the house on a Multiple Listing Service (MLS); Jon and Marsha agreed that the asking price was too high for the neighborhood (although we are not given the actual listing price), and agreed to offer two-hundred and seven-thousand dollars ($207,000) and an Earnest Money Deposit of five-thousand dollars ($5,000). Additionally, the buyers requested that the seller pay 3% which includes the title insurance and property taxes. After the REPC form was drafted, the two addendums were created. Addendum No. 1 is from the seller back to the buyer, and Addendum No. 2 is the buyer’s counteroffer to the seller.
“Social contract theory says that people live together in society in accordance with an agreement that establishes moral and political rules of behavior. Some people believe that if we live according to a social contract, we can live morally by our own choice and not because a divine being requires it.” - Crash Course. I think they provide a valuable framework for harmony in society. In this sitution is not good thing which third/ fourths of the people don’t understand english that it could be dangerous for the people who don’t speak chinse.
After the housing bubble burst, everyone involved in the process was subject to severe criticism. From the realtors to the land title insurance agents to the banks, the housing industry underwent a major overhaul. In order to make sure that what happened less than a decade ago doesn’t happen again with the same veracity, the American Land Title Association (ALTA), which guides the conduct of land title insurance agents, published a “Best Practices” manual. ALTA seeks to guide its membership on best practices to protect consumers and to meet legal and market requirements. This paper will lay out the best practices used by ALTA for title insurance and settlement.
Although the recent tech boom in San Francisco has been blamed for the increased housing demand and the lack of affordable rental housing in the City, the reality is that the shortage of affordable rental housing been steadily climbing for the last 35 years. Rent control is oftenat the center of the controversy regarding the affordable housing shortage. In response to high inflation, and escalating rents, San Francisco’s Residential Rent Stabilization and Arbitration Ordinance was passed in 1979 (Forbes, Sheridan, 1999). Rent control imposes restrictions on landlords in regards to rent increases and evictions. It is estimated that seventy percent of San Francisco’s rental units are under rent control (Marti, Shortt, 2013). Because of the limited rent increases allowed, tenants living in these rent controlled apartments seldom move out, which severely impacts the vacancy rates in the City. Although the vacancy rate among rent-controlled units is extremely low, there are occasions when a tenant may vacate a rent control unit (a job out of the area, the decision to purchase a home, etc.). When a rent-controlled unit is voluntarily vacated, the landlord is allowed to raise the rent to market rates (this is called vacancy de-control); then the rent control annual increase takes effect on the new rent. A landlord will often raise the new rent to the highest possible price the market will allow, in an attempt to recoup the financial loss he is incurring on the units still under rent control. Because of the new higher rent, the previously affordable unit is no longer considered affordable; which then impacts the inventory of affordable housing in San Francisco.
With the ratio still on a downward trend from 2012, construction of new apartments and condominiums is one of the fastest-growing segments in the construction industry, though slowdown is expected heading into 2021 as the economy continues to improve and home buying, in turn, will increase. (Apartment & Condominium Construction in the US: Market Research Report, 2016) With the trend for millennials to delay home ownership, landlords have some insulation to market fluctuations, but still need to be cognizant of anticipated increases in the rent/price ratio.
Bonzi found a necklace while staying at a hotel that is owned by Alpha Corp, and the question, “to whom does the necklace belong?” is asked. First of all, the type of property involved, from a legal perspective is personal property, and more specifically, tangible personal property because the necklace is a physical object that can be moved and touched. In determining who the necklace belongs to, the legal decision that needs to be made in relation to Bonzi is: who has legal ownership of the necklace?
If the government had a better policy such as limiting rent to one quarter of the income, the rent strike of Pruitt-Igoe could have been avoided. Also if the housing department negotiated with the tenants, the failure of Pruitt Igoe could have been
Our constitutional liberties referencing property rights have faded over the years by virtue of the over-reach of the federal government by their collusions and conspiracies among the different branches; thereby, infringing on the rights of individuals and the states. For example, the Constitution does not grant the national government jurisdiction over education, housing, agriculture, or energy; however, they have gotten around this by creating cabinet/committee level status (e.g., HUD, FTC, FDA, OSHA, SEC, EPA) in D.C. by Congress, administered by the executive branch with the court?s approval. James Madison captured the essence of federalism in The Federalist No. 45. He condemned the aggregation of all powers (legislative, executive, and judicial) in the same hands; whether of one, few, or the majority; whether hereditary, self-appointed or elected, may legitimatize the very definition of tyranny. James Madison, Property: The Founders Constitution, (Vol 1. Chap. 16. Document 23. 29 March 1792).
In the short run the amount of rental housing supplied would remain relatively constant (supply is inelastic). The biggest disadvantage facing landlords is that, under rent control, landlords would receive less incentives and this would have a knock-on effect that would eventually change the elasticity of
There is uncertainty surrounding the law in regards to the ownership of property and proprietary estoppel. This paper will deal with these issues by analysing two cases that involve these questions. It will first address Jack’s case and whether the two objects in question are chattels or fixtures; then, it will examine a Laurence’s case and whether he can rely on proprietary estoppel or not. By dealing with the two cases, this paper will clarify questions of what constitutes a chattel or fixture, and in what situations proprietary estoppel may apply.
effect, because they know that it is likely that landlords will not be able to
America is seen as the land of opportunity in that there are endless possibilities for an individual. In this land of opportunity, Americans strive to obtain the ideal known as the American dream. The American Dream is seen as the accomplishment of an ambition achieved while challenged by adversity.1 Americans often associate this success with the ownership of a home. The home is not simply a place of basic protection; there is a much deeper connection to the individual. Ownership of a home grants freedom and security that establishes a sense permanency for the individual. In contrast, renting a living space possesses a semblance of instability and dependence.2 The desire to improve ones’ position in life inspires one to obtain the American dream.
Housing tenure is a very important issue as it sets out the ground relationship between household and residence. In England, high income is associated with owner occupation which raises certain issues of what people in England actually really own – flats or houses?
The main problem rent control can create to landlords is the case of the tenant do not move out because of the good rental price. That causes the landlords to lose money by not being able to increase the rental price of their units. Besides, the price of maintenance continues to increase, causing landlords to not earn any profit with their ...
Introduction Real estate is a fixed, tangible and immovable asset in the form of houses or commercial property (Seldin & Richard 1985). Real estate market involves developing, renting, selling/purchasing and renovating of these assets (houses). Market participants include developers (contractors, engineers, and so on), facilitators (mortgage companies, real estate brokers, banks, management agents and so on), owners, renters (leasers) and renovators (Seldin & Richard 1985). Like other economic markets, real estate markets have internal and external forces that impact the market (Seldin & Richard 1985). Demand and supply forces have the major impact on the industry as they determine growth or decline in the market (Seldin & Richard 1985).