Have you heard of rent to own? It’s where you basically rent a house that you chose, until you are prepared to purchase it. The rent that you pay contains something called “rent credits” that will be saved after 3 years and be used for the down payment of the house when you are ready to purchase it. It is a useful program that can allow first time home owners, people with bad credit and people who may have gone through a divorce and want to build their life again, to own a house but not have to wait to save for a large down payment. Large down payments would be required if someone were to purchase a house through a bank. Some people have concerns with this program, and I can explain some of the pros and cons of rent to own.

Pros and Cons

A pro of participating in a rent to own program would be the final down payment issue. You do have to provide a down payment with the lease signing $6000 to $12,000, but in comparison to what a bank would require, (15-20% of the price of the house) this is a steal! Like I mentioned earlier, the final down payment is being collected in your rent that it makes it effortless to save for the down payment. For example, if the rent is $1800 a month, roughly $200 to $400 is saved for the future down payment. It’s an easier way to save!

Another pro of this program would be the market price of the home being the same. Let’s say that the agreed upon purchase of the house at the beginning of the lease is $280,000, this will be the same price at the end of the lease. This will save you in times where the market may go up due to a market upswing, your contract will still be at $280,000, but the value could be much more! You will not have to pay for the increase in value, just what was agreed upon in the beginning.

A con of this particular program could be the rent. Depending on where you would like to purchase your house, the rent could be a bit higher than expected in the area. The surrounding area could have an average rent price of $1500, but since your rent will be including part of your future down payment, the price to rent may be $1500 and up. If you do decide to do this, you have to understand that even though you are paying more per month than a neighbour who would be renting their house, your increase in rent will allow you to save and purchase the house in the near future, where your neighbour will just be renting and never owning that house.

Another con would be the lease and final purchase of the house. In the beginning, you will have to put a small $6000 – $12,000 down payment on the house before you rent it which allows you and the landlord to agree upon the rent to own program. If there is no down payment, it will be a straight rent and would not allow you to make the jump from renter to owner. The lease agreement could last from 3 years or more. If you decide in the second year, you do not want to permanently move into the home, you will forfeit the down payment. You will be in breach of the lease contract and you would not be entitled back to your down payment. But if you were to live in the house for 2 years, why would you want to leave? You have the option to redecorate, remodel and upgrade the house to a certain extent since this will be your future home. If you wanted to paint it, you can! You can make the home comfortable and catered to your likes to make it your home. If you make it your home, there will be no reason for you to leave!

Hopefully these points will make you reconsider the possibility of rent to own as your answer to home ownership in the near future. You can always buy a house with headaches and stress, but this will give you the opportunity to make this house a home easily and stress free.

It is a common occurrence for renters to be confronted with a plethora of different pricing metrics during an apartment hunt. Landlords, agencies, sub-letters offer rental prices weekly, monthly, fortnightly, and sometimes even daily. This is confounded by the fact that rents can be collected based on different time periods, such as monthly (per calendar month) or every 4 weeks.

It is easy to be confused by the headline figures. For example, $300 weekly rent does NOT equal $1200 monthly rent. The monthly rent is not simply multiplying the weekly rent by four. This is because every month has different number of days within it, and that has to be taken into account.

Therefore, renters will always need to be able to convert weekly to monthly (per calendar month) rent and vice versa. This article shows you how to create your own calculator to achieve this.

First, we calculate weekly rent from you per calendar month (PCM) rent. For argument’s sake that’s say your monthly rent is $700. To calculate your weekly rent, multiply your monthly rent by 12 to calculate your annual rent. 700 x 12 = $8,400. Since we know that there are 52 weeks in a year, we then divide $8,400 by 52 to return our weekly rent. So it is $8,400 / 52 = $161.53.

Conversely, to calculate monthly from weekly rent, we first multiply the weekly by 4, then one-third on one week’s rent. So for example if my weekly rent is $120, then to calculate my monthly it is $120 x 4 = $480 + $40 = $520, since one third of my weekly rent of $120 is $40.

Another scenario is when you need to calculate the daily rent. This is needed for example if you need to work out your ‘prorated rent’ when you move into an apartment in the middle of the month and you need to calculate how much to pay for that month until you start paying monthly.

To do this, multiply your monthly rent by 12 to calculate your annual rent. Then, divide your annual by 365 to arrive at your daily rent, since there is always 365 days in a year. Then, work out how many days you’ll be living in the apartment until the starting date of your monthly lease. For example, if lease began on the 20th of July and rent is collected on the 1st of every month, I will be in the apartment for 11 days in the first month. I will then multiply the number of days by the daily amount owed.

So if monthly rent is $600, my annual will be $600 x 12 = $7200 and my daily rent will be $19.72. The amount payable in the first month of the lease will then be $19.72 x 11 = $216.99.

We hope that the rent calculator outlined above will cut through the pain and complexities of apartment hunting, and we hope you will find your dream apartment.

Moving into your first apartment can be an exciting time. Being independent, living away from your parents, and having somewhere to call their own is just a few of the reasons why young adults look forward to their first apartment. Before making that decision as to which apartment you should rent there are several factors that you should consider.

Your needs

You should look for an apartment that suits your needs such as first floor apartment, apartments for adults only, two bedrooms, pool, etc. You can find apartment listing sin the newspaper or online. Some websites will allow you to take virtual tours of the apartments that are for rent. This will help you see the floor plans and what amenities are offered without making the trip to see the apartment if they are not what you are looking for.

Location

First, it should be located in a safe neighborhood. If you are going to school, you may want an apartment near campus. If you are working you may want it near work or near a bus line or subway if you need to use those modes of transportation. You should also consider if you want it located in a neighborhood where many children live or do you prefer a quieter neighborhood. Maybe you want an apartment that is close to shopping and entertainment.

Amenities

This can include dishwashers, have washer-dryer hookups in the apartment, free cable, and WiFi, have a balcony or small patio, etc. Some apartments may have a laundry room that is shared by the residents of the apartments so you need to check to see how many washers and dryers are available and if it is a well-lit area. You may also want to see if they allow pets if you have one. These are just some of the amenities that apartments may offer.

Other considerations

• Although the apartment may be in a good safe neighborhood look at the condition of the buildings, the sidewalks leading to the apartments, the locks on the doors, the landscape, etc. You want to make sure that the landlord takes care of the property and keeps the grass mowed and that the apartment building does not appear run down.

• If possible, try to talk to some of the residents to see if the landlord is prompt on fixing any problems that might come up.

• Check the lease carefully to make sure that there is nothing in it that was not discussed and agreed upon.

• You should also check with the Better Business Bureau to make sure that there have not been any complaints filed against the owner and/or landlord of the apartments.

• Make sure it is within your budget and can afford the rent each month.

Renting your property may seem like an easy way to increase your passive income, but upon starting the process, you may find it to be more complicated than expected. Your house may sit on the market for months without a rental applicant because it is priced above the fair market rent. A bad tenant may be late or outright refuse to pay rent; they have the potential do thousands of dollars in property damage and may ignore your attempts to evict them from the property until authorities are involved.

So how can you avoid the headache of these common difficulties associated with renting a property? Here are five things to do before renting out your house to reduce the risk and stress of being a new landlord.

1. Take Photographs of the Property

Photographs of the property are necessary for several reasons. They are an important part of online advertising – otherwise favorable rental listings without pictures of the property are often passed over by potential tenants because they do not want to have to wait for a house tour to find out that the property does not have a layout or design that suits them. These photographs will also be helpful when your future tenants are moving out, as you can use them to measure any property damage that occurred during the rental period.

2. Assess Fair Market Rent

While it may be tempting to charge higher rent to make money back on recent renovations you may have done or moving costs from when you left the property yourself, the best thing to do is conduct market research: check with rental websites, newspapers, local landlords , realtors, and property management companies to determine the amount that properties of similar location, size and condition are renting for.

3. Create a Concise, Effective Rental Application

An effective rental application will not intimidate potential renters with its length, but will be comprehensive enough that it can be used for tenant screening purposes. Any additional information that you need from the tenant should they pass screening can be included in the lease documents. A good application will have spaces for the following items:

• Name
• Date of Birth
• Social Security Number
• Phone Number
• Current / Previous Addresses (last 7 years, including landlord name (s) and contact information)
• Current Employer (name, address, hire date, income, contact information)
• Authorization to Obtain Consumer Report Statement
• Tenant Signature

4. Consider Using a Property Manager

Property managers will typically charge a percentage of the monthly rent for their services, but in exchange, they will take care of things such as finding new tenants, creating / signing the leases, collecting the rent, and issuing legal notices (including evictions). Hiring a property manager cuts down on the profit you will make from your tenants' rent payments, so you should carefully consider the cost-benefit of these services.

5. Find Good Tenants

Finding a decent tenant is easier said than done – many applicants can be friendly, polite, and will seem to be a good fit, but will create a flood of problems for you. The best way to improve the quality of tenants that you are leasing to is to conduct tenant background checks – that is, choosing tenants based on measurable fiscal and rental responsibility. Most landlords will charge rental applicants an application fee to cover the cost of tenant screening.

Although, many people consider owning a home, of one’s own, as the American Dream, some individuals may not be suited, or happy, being homeowners, while others may become house – rich, while making the rest of their lives, more stressful, than is healthy, and/ or happy. Since, for most of us, our house represents our single – biggest, financial asset, doesn’t it make sense to be an educated, informed, prepared buyer, rather than, merely an emotional/ hopeful, one? With that in mind, this article will attempt to briefly, identify, consider, examine and review, a few of the relevant considerations, in terms of whether home ownership, is best, for them.

1. Emotional considerations: Do you want to own a home, of your own, for the right reasons and purposes, or, are you doing so, either, to Keep Up With The Jones’, because the idea seems to inspire/ motivate you, or, for another emotional reason? Are you ready, and prepared, for the responsibilities of home ownership, which go along with owning a house, such as responsibility for repairs, renovation, exterior and interior maintenance, etc? Will owning a house, make you feel better, about yourself, in a positive manner? Will being a homeowner, make you, a more – complete person, self – satisfied, pleased, and secure? Or, will these stresses, make you expand your personal comfort zone, and will you be ready to do so?

2. Financial considerations: Nearly everyone, especially first – time home buyers, depends on securing a mortgage loan, in order to be able to afford to do so. One must address his credit rating/ report, carefully, and address any issues, which might have a negative effect on securing his loan. This can be done, by yourself, or you can receive professional assistance, in your efforts. In addition, a prepared buyer should exhibit the discipline, to save considerable funds, needed, for the downpayment, as well as for the reserves, smart consumers, create, for future necessities, such as a reserve for repairs, renovations, maintenance, emergencies, etc. It’s important to begin with a perception of possessing job security, so you are comfortable with proceeding. Consider, whether you are handy, enough, to do some things, yourself, or whether you will need to hire a professional/ expert, to get things done. Also, will this experience, address your current and anticipated future needs, etc.

3. Who might want to continue to rent, instead of own?: Owning is not for everyone, for a variety of reasons. One, of course, is financial/ economic, and the level of your personal comfort zone. Will the responsibilities make you more comfortable renting, and having your landlord remain responsible, etc? Are you considering relocating, in the somewhat, near future, because, if you are, you might be better served, renting? Are you uncomfortable with the maintenance and repairs, and/ or, other ownership – aspects, or with, the possibility of unpredictability?

Home ownership is wonderful, as long as you are financially and emotionally prepared, and, really, proceed, with your eyes, wide – open. Should you own, or rent?

More and more people travel to Pakistan and especially to the capital Islamabad on business. While the public transportation network is vast, you will be better off relying on your own transport to ensure that you will not be late for meetings and other important events. It’s easy to rent a car in Pakistan to use during your stay in the country. Here are some essential tips to help you ensure that you will rent the right vehicle at an affordable price.

General Requirements

To rent a car in Pakistan, you will need an international driver’s license, also known as international driving permit (IDP), if you are a foreigner. You can obtain this license via the licensing authorities in your country before departure.

The minimum legal age for driving in Pakistan is 18 and this applies to foreign nationals who drive a rental car within the country. At the same time, many car rental companies in the country have a young driver requirement under which drivers who are under 25 years of age should pay higher charges corresponding to the risk which they pose. When approaching a service provider, you should check if they apply such charges.

Where to Find Rentals

Car rental companies operate in all major cities including Islamabad, Karachi and Lahore. They usually have offices at the international airports and the largest hotels popular with foreign business people and tourists. While you can rent a car directly at such an office, you may want to do it online in advance of your arrival. This will guarantee you that you will be able to use a car which meets your requirements fully during your stay. All major car rental services have a website supporting online bookings.

What types of cars can you rent in Pakistan? When you use a reliable service with strong reputation, you can expect all vehicles to be under 10 years of age. You can choose from sedans, coupes, SUVs and even vans in some cases. There are luxury vehicles too. It is worth noting that the cars are mostly from Asian and European brands such as Honda, Toyota, Suzuki and Mercedes Benz and BMW.

Costs and Payments

The price which you will pay for renting a car in Pakistan depends on the type of vehicle that you hire and the term of the hire. There are extra charges for specialty services such as having the car delivered directly to the place where you will stay. The cost of insurance is also added to the total price. Before you travel to the country, you should check whether your auto insurance at home extends or can be extended to this country. You may also want to enquire if your international credit card comes with car insurance coverage which is valid in the country.

Check when and how you are expected to pay when you rent a car in Pakistan. Most companies require a deposit and a few will only accept a cash deposit in the local currency, Pakistani Rupee. Ideally, you will be able to pay both the deposit and the remainder of the total cost via a credit card.

Are you curious about rent to own, but don’t have any money to put down? Wondering if a no-money down rent to own option can work for you?

It is a very important question and good for you for doing some research on the topic. You will need to understand the challenges that will come as a result of a no-money down rent to own. Hopefully this article will heighten awareness around some of the questions you need to ask to protect yourself if you are pursuing a no-money down rent to own.

Simply put, a no-money down rent to own is one where you do not have to put any money down in order to get into the program.

What are the implications?

1. More risk to the investor so they will offset their risks by charging you higher monthly rents (maybe even higher than market rents). I have seen situations where rents for a no money down rent to own were as high as $2000-2500 when the market rents in the same area were $1500 per month. This amount of $2000-2500 does not always account for any money being credited towards your down payment so be sure to ASK!

2. You will have to save up a greater portion of your down payment by yourself before the end of the rent to own program or risk not qualifying for a mortgage and consequently losing the property. Looking at this in terms of numbers, an average house price of $300,000 will require a 5% down (or $15,000). If you come into the rent to own with ZERO down, you will need to save up $15,000 over an average term of 3 years (for example) to qualify for that mortgage at the end of the term. That means saving $5,000 a year. If your rent to own allots, say, $200 a month towards your down payment, you would accumulate $7,200 over the three years. That means you would need to make up the balance, or $7,800 yourself. If you are unable to do this, you will not qualify for your mortgage and you will more than likely be asked to leave the house at the end of the rent to own term.

3. You will not build up any equity in the property (basically you are a renter (paying higher than market rents) with the hope that you can save up enough down payment and purchase the property at the end of the rent to own program. Equity is the amount of money you have invested in the property or earned on the value gain for the property. For example, if you put $10,000 down on a property, you automatically have $10,000 in equity in that property. If you put no money down, you have zero equity in the property.

4. In many cases (not all but many), you will be left to your own devices to improve your credit situation and save up a minimum 5% down payment. If you have received no support on your credit repair and your credit has not been repaired enough to qualify for 5% down, you may be required by the lender or bank to give 10%, 15% or 20% down (which you will likely not have since you were targeting saving 5% down payment). Looking back at the average price of house from the 2nd point ($300,000), if you were unable to improve your credit over the term of the rent to own program and needed 10% to get the mortgage, you would not be required to come up with $30,000 down, not the $15,000 from the previous example. If $15,000 sounds like a daunting task, imagine $30,000 or even more if 15% or 20% is needed.

So what does all this mean to you?

Do your DUE DILIGENCE!

Ask questions and be VERY sure you know all of the pitfalls that you can run into if you choose to enter into a no money down rent to own. As a start, ask questions like:

1. How much is the monthly payment going to be? (compare it against other rentals in the area)

2. How much of each monthly payment is going towards your down payment?

3. Do they provide credit support?

4. What happens at the end of the rent to own term if you cannot get a mortgage?

I am not saying a rent to own with no money down cannot succeed. I am just saying that the road to success is MUCH harder this way and requires a very different level of determination and discipline.

Finding apartments for rent can be a stressful task. However, there are several tips that can alleviate the annoyances and make the search for a new place fun.

Be Specific

When apartment hunting, make sure to determine which features are a must-have and where it’s okay to compromise. If there’s a perfect two bedroom in a great location, but it lacks the perfect yard, it may be time to adjust priorities. Decide what is necessary and stick to it, but try to remain realistic.

Find Out the Included Utilities

This is another major must-do when looking for a new place. Many rentals include some utilities, but there are hidden costs to look out for such as trash or water costs. If not included, these costs can add up quickly. As well, there may be additional charges for parking or a security system.

Ask Around

This may seem obvious, but asking friends of the family for landlord referrals is helpful. If anything, it’ll help weed out the inattentive and neglectful landlords. Who knows, a friend may even know someone who has apartments for rent.

Take Measurements

Depending on what furniture one currently has, this may be an important part of house hunting. Making sure the bed fits in a smaller bedroom or being able to comfortably walk around seating in the living room is essential to a cozy environment.

Avoid Scams

We all know of popular classified sites that offer rental deals, but if it sounds too good to be true, it probably is. Make sure the listing includes photos and a local phone number. Also, be sure to check the average rent prices in the area; if the price seems like too good of a deal, it likely is. There may also be a catch to a cheaper place, like bad parking or poor renovations.

Check the Pet Policy

If a pet is important, double check the lease for costs such as a pet deposit. Also, there may be weight, number, and breed restrictions to consider. Some listings may not mention a pet policy, but it’s worth asking. Some landlords allow pets on a case-by-case basis.

Bring a Friend

Always have someone tag along when looking for apartments to rent. It always pays to have an extra opinion, and they may be able to point out things that wouldn’t always be noticed on a solo look. It’ll also be convenient to have one person ask questions while the other takes photos and measurements.

Make a List

This may not be common, but it’s a great idea to make a list of questions to ask when hunting for apartments to rent. Getting caught up in the excitement of the search can make one forget about asking about things such as the average electric bill cost or if the washer and dryer are included. Having a list makes a person prepared, but it also makes them appear responsible to the potential new landlord.

Keeping this advice in mind, one can be sure to find a great new place to make a wonderful home.

As the time is proceeding continuously, several changes have occurred. With this stream, the traveling also flows. Within the few years, it has been considered as the leisure more than the requisite. Either you are intending to depart for the hill station to spend the vacation or going to your relative’s place, you must need a conveyance. Car rental is the most favorable alternative to choose for going far. No worries for changing the vehicle at the halts! No annoyance of carrying the luggage! Even, you don’t have to make the adjustment with the outsiders, as in the public transports. Basically, you will be free from many obstacles after hiring the car.

Who doesn’t want to travel in the luxury cars? Fortunately, if you are getting this chance of renting them, then there is no harm in it. Grab this opportunity and relish your trip. Moreover, renting a luxury car adds the class and style to your journey. At the same jiffy, the affordable and convenience factors are also included. This is the reason that the luxury cars are becoming more famous day-by-day.

Include the Luxury Cars in your Road Trip

No need to look for the chauffeur that will follow the route that is pre-fixed at the time of the contract! Rent a car and disappear!

Nothing can beat this feel to have your own luxury car whilst on the tour. You have the full freedom to take the halts wherever you desire. Click the snaps of the beautiful green lands, mountains, the glittering sky, different persons and you! An unparalleled idea to spend your holidays! No chance to skip any of the destinations that have come along your way! Precisely, if the start is good, then the entire journey will make you smile.

Sitting in the luxury car will not only give you the feeling of class, but the onlookers also get stunned to view your vehicle. Not everyone can afford to ride a luxury car. You are the one! You are lucky enough to get this golden chance. So, enjoy it with your heart and soul. However, make sure to check your luxury car properly, before hiring to avoid the latter problems.

Car Rental Companies

To sort out the best company, create the checklist of the companies and then start classifying according to your needs. Check the terms and conditions and compare them with your requirements. As soon as you have got the right match, tap on it! Even, these companies will also lend you a hand in picking the right deal, according to your specifications and hence you can find the right choice. Incorporating the right company will help you save your cost and allow you to spend in your journey for recreation.

So, get your car fueled completely and get set go!

If you are looking for a cheap and beautiful apartment, you need to work on your deal-finding and negotiation skills. Before you go ahead and negotiate, make sure you know what you need. Given below are 6 tips that may help you rent the right apartment.

#1: Use an apartment locator

First of all, you need to consider a few important features before you look for an apartment in your area. You can check out an apartment locator as well. There are many websites that can serve this purpose. This tool can help you find the right place for you.

#2: Consider your needs

You want an apartment that can meet your needs, not those of your friend’s. Make sure the place is located in the type of neighborhood you like. It should have all of your desired features.

#3: Call a local Locator

You can also contact a local apartment locator for help. In the same way, you can also use a phone book.

It’s a good idea to make a call to at least 2 providers to ask about rental neighborhoods and communities. Make sure you let them know about the features you are after.

Since the locators work for commission, they will try their level best to find you the property you need.

#4: Call a Community

Make sure you pay a visit to the property before you make the decision. It’s even better if you make a call to ask for a quote. Once you are in the apartment, the agent may impress you with the features of the property. On the phone, you will just get numbers. What you need to do is compare the numbers you get with the figures you found online.

#5: Visit the apartment

Although virtual tours can help you make the final decision, you shouldn’t rely on them alone. You can find these tour videos on websites, and this can give you some idea of the features of the property. However, it’s important to keep in mind that visiting the house in person is a must. You just can’t rely 100% on the virtual tours. To get a better feel, you still need to walk around your neighborhood.

#6: Review the features

Make sure you review the features you want in the house. Actually, you should remove the features that are on the bottom of your priority list. This will help you have you choose from a broader list of properties that may have the features you want. You should make adjustments to your list based on the short list of features. Finally, you should make the renting decision after weighing the features and the price you are willing to pay.

The Takeaway

So, these are a few things that you should keep in mind when looking for an apartment to rent. Keep in mind that you will get what you pay for but keeping a few basic things in mind can go a long way.