renting a house?
How is renting a house like. I mean, my brother will be moving out in about a year from his townhouse and is wandering when i'm eighteen if I want to live in it by renting in it. How does that work? Please give me as much detail as possible.
By renting a house electrical bills and stuff like that still are sent to me correct?
- Homer J. SimpsonLv 61 decade agoFavorite Answer
By renting, you obtain the rights of exclusive use and quiet enjoyment, but not the right of disposition. In otherwords, you can prevent others from using the property while you are renting it and your brother can not further divide your rights unless he retains that option in the lease. In any event, only your brother can dispose of the property, however, this is subject to your lease, which is not affected by sale, encumbrance, or any other hypothecation. To obtain these rights you must give up something of value. Usually, this is a stream of periodic rental payments.
Your brother will retain a reverter interest in the property so that he again regains all of the rights that were separated or divided when the lease expires.
In all states leases in excess of 1 year MUST be in writng. In some states, leases for less than 1 year can be oral.
WHat else do you want to know?
The lease will specify who is responsible for utilities. Your brother can build the expected costs for these things into the periodic rent and then he can pay them himself or he can bill you each period for the items and keep the responsibility for paying them himself OR the lease can specify that you have to get the utilities put in your name so that you have to pay them directly.
You need to figure out what the townhouse community association pays- usually water and trash. Then you need to determine what is left over (gas, electric, cable, internet, owner's association dues, property taxes, hazard insurance, renter's insurance) and explicitely state in the lease which party is responsible for each item.
- 1 decade ago
well, it works like this: you will pay agreed rent every month usually on the 1st. usually, you will need to pay electric, gas, cable, telephone. Usually in apartment or townhouse, the owner pays water, sewer and garbage. Does your brother own this townhouse? or is the owner just so nice that you will be able to take over lease? If you are 18 when you rent, you will probably be going to school at the same time? you might want to find roomate and split the expenses in 1/2. If you do that make sure you establish rules of the house, and make them sub-lease from you so you are in charge, in case it doesnt work out you can give them 30 day notice & boot them out. :) hope this helps and good luck