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Buying or Selling a Rented Home?
When buying or selling a property which is currently rented out to tenants, you need to understand that the lease comes (or goes... for that matter) with the property. First check the lease agreement to make sure how long the tenants can stay in ...
Question: Do I have to pay a deposit?
Answer: It depends on your lease agreement. If your lease agreement requires you to pay a deposit (usually equal to one month's rent, sometimes two months) then you will need to do so in order to occupy the premises. This applies to both verbal and ...
Question: Is my landlord allowed to withhold my deposit?
Answer: The purpose of a deposit is to reimburse the landlord for any outstanding money that is owed or to cover the costs of repairing any damage over and above "fair wear and tear. If your landlord does withhold your deposit, he will need to supply ...
What is Bridging Finance?
Bridging Finance allows purchasers or sellers to have access to cash before the registration and transfer process has been completed. The seller is able to use the funds to pay outstanding rates and taxes, for example. The purchaser can use the funds ...
Question: What happens to my deposit?
Answer: During the rental period, your landlord must invest the deposit in an interest bearing bank account or the letting agent must invest it in a trust account. At the end of your lease, the full deposit as well as the interest it has earned ...