15 Words That Could Add Value to Your Listing

When it comes to writing an effective listing description, don’t hold back. If you’ve got it, flaunt it!

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Why do some homes sell for a premium? Timing, for starters. An analysis of 24,000 home sales in “Zillow Talk: Rewriting the Rules of Real Estate” also reveals listings with certain keywords tend to sell for more than expected.

“Bottom-tier homes described as luxurious tend to beat their expected sale price by a whopping 8.2 percent,” write co-authors Spencer Rascoff and Stan Humphries. “Top-tier homes described as captivating tend to beat theirs by 6.5 percent. That means, if your home’s estimated home value is $110,000, but your listing includes the key word ‘luxurious,’ you could pocket an extra $8,965.”

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If one of the following words accurately describes your home, you might want to consider adding it to your listing.

1. Luxurious

As mentioned above, lower-priced listings with the word “luxurious” sold for 8.2 percent more on average than expected. “Luxurious” signals that a home’s finishes and amenities are high-end. This is a huge selling point, particularly in this price range.

2. Captivating

Top-tier listings described as “captivating” sold for 6.5 percent more on average than expected. Unlike the word “nice,” “captivating” provides a richer, more enticing description for buyers. Plus, it’s less open to interpretation. Anything can be seen as “nice,” but “captivating” sets a high bar.

3. Impeccable

On average, listings in the bottom tier with the word “impeccable” sold for 5.9 percent more than expected. Like “captivating,” “impeccable” is a rich adjective. It also implies something about the quality of a home: The features are desirable and the home is move-in ready.

4. Stainless

“Stainless” is typically used to describe kitchens with “stainless steel appliances.” It’s in your favor to talk up these features in your listing — especially if your home is in the bottom price tier. In our analysis, lower-priced homes with the word “stainless” sold for 5 percent more on average than expected.

5. Basketball

On average, lower-priced homes with the word “basketball” sold for 4.5 percent more than expected. This may seem like an odd word to include in this list, but when you consider the context it makes sense. Among lower-priced homes, a basketball court — or even better, an indoor basketball court — is a huge selling point. While it may not stand out as much among higher-priced homes, it’s definitely worth mentioning in this price range.

6. Landscaped

It’s just as valuable to describe your yard as your house. In all price tiers, listings with the word “landscaped” sold for more than expected on average. The biggest premium was seen among lower-priced listings, which on average sold for 4.2 percent more than expected.

7. Granite

In the same vein as “stainless,” “granite” is typically used to describe countertops or another high-end home feature. Listings with the word “granite” sold, on average, for 1 to 4 percent more than expected across all price tiers.

8. Pergola

Not only should you include high-end home features in your listing description, you should also mention features not found in every home. They’ll help your listing stand out, especially if buyers are searching for homes online by keyword. The data shows mid-priced listings with the word “pergola” sold for 4 percent more on average than expected.

9. Remodel

Was your home recently remodeled? It may be worth mentioning. On average, bottom-tier listings with the word “remodel” sold for 2.9 percent more, middle-tier homes for 1.8 percent more and top-tier homes for 1.7 percent more than expected.

10. Beautiful

While beauty is in the eye of the beholder, a beautiful feature like a view may be worth noting. Lower-priced listings with the word “beautiful” sold for 2.3 percent more on average than expected.

11. Gentle

“Gentle” may seem like a weird adjective to have in a listing description. It’s typically used to describe “gentle rolling hills” or something about a home’s location. Top-tier listings with the word “gentle” sold for 2.3 percent more, on average, than expected.

12. Spotless

You may think all homes are spotless when a buyer moves in, so it’s not worth mentioning in a listing. But when it comes to lower-priced homes, cleanliness isn’t always a given. In this price range, listings described as “spotless” sold for 2 percent more on average than expected.

13. Tile

Much like “stainless” and “granite,” “tile” is a great word when it comes to describing the features of your home. A newly tiled backsplash or updated bathroom tile not only indicates a home’s aesthetic value but also sends a message to buyers that the home’s been well cared for by the current owners. Bottom-tier homes with the word “tile” in the listing sold for 2 percent more on average than expected.

14. Upgraded

On average, lower-priced listings with the word “upgraded” sold for 1.8 percent more than expected. Most buyers will agree that upgrades are a selling point. They indicate a home not only looks nice but also functions well. Spelling out which features have been updated is a good approach, so buyers have the right expectations when they see your home.

15. Updated

“Updated” sends a similar message to “upgraded.” But in addition to speaking to the quality of a home, it signals that something old has been replaced with something new. This is a great fact to communicate to potential buyers, as evidenced by the data. Mid-priced homes with “updated” in the listing sold for 0.8 percent more on average than expected.

Related:

Source: zillow.com

How to Get Rid of Your Roommate (Legally!)

As tempting as it may be, you can’t just kick him to the curb.

He’s messy, his rent is always late, and now he “lost” his pet scorpions somewhere on the premises. In other words, it’s high time for your roommate to hit the road.

But how to get him out? Legally speaking, can one tenant kick the other to the curb based on a few common lease violations? And, if so, what is the least-stressful way to accomplish this feat? Below, we discuss several tips and techniques for lawful roommate eviction, as well as conduct to avoid at all costs — or you may find yourself on the curb.

Communication is key

As in any relationship, lack of clear communication between roommates could be the downfall of an otherwise promising cohabitation situation. When a problem first arises, talk it out. Perhaps your roommate is under unusual stress, isn’t aware of the rules or just needs a little coaxing to meet obligations. Hopefully, this tactic will calm the waters.

But if not, it may be time to bring your landlord in on the conversation. If your roommate is engaging in clear violations of the lease agreement, your landlord should be notified immediately, and the violations should be clearly documented through pictures and descriptions. Assuming your roommate is a tenant of record (more on that below), he or she maintains a distinct legal relationship with the property owner or landlord and must abide by the terms of the lease. While general messiness is not usually cause for eviction, late rent payments and unapproved pets likely are, so alert your landlord. He or she can start the eviction process under your state’s landlord-tenant laws.

Off-the-record roommates

This issue can become much more acrimonious if your roommate is not a tenant of record (i.e., an inhabitant who has not signed a lease agreement). In essence, this person has no legal duty or obligation to the property, its owner, or its lessee (you), so state landlord-tenant laws do not apply. Accordingly, it may be time to seek an alternative legal remedy. However — and this is key — you cannot physically force a roommate out the door by pushing them or throwing belongings on the sidewalk.

Most states have enacted a more civilized approach that provides the unwanted guest the right to notice and due process. In many states, a roommate must first be put on notice that he or she is no longer welcome. To accomplish this, a simple one-page statement declaring that the roommate arrangement has ended should suffice. Further, provide the roommate with a deadline for leaving, which usually must be at least 15-30 days from the date of the notice. Lastly, as much as you might like to avoid actual interaction, be sure the roommate actually receives the document.

See you in court!

Hopefully, the roommate will take a hint and exit gracefully. If this does not happen, however, it will be necessary to file a petition for eviction in your local court, which is likely the same court that handles formal landlord-tenant matters. By allowing the roommate to remain on the property sans lease, you actually created a month-to-month oral tenancy agreement, which must be undone using proper legal channels.

The court staff will give you a date and time for an eviction hearing. At the hearing, be prepared to present the eviction notice mentioned above, as well as evidence to show that the roommate was never included on the lease and — at most — had a month-to-month tenancy as an off-the-record roommate.

The court will likely grant the petition, and your roommate will have no choice but to vacate the premises immediately.

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

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Source: zillow.com

What Are Comps? Understanding a Key Real Estate Tool

Whether you’re buying or selling a home, comparing similar homes can yield a wealth of helpful information.

“Comps,” or comparable sales, is a term anyone on either side of a real estate transaction should know well. It refers to homes located in the same area and very similar in size, condition and features as the home you are trying to buy or sell.

Buyers look at comps when deciding what price to offer on a home, and sellers use comps to figure out how to best price their home for the market. Real estate agents look at comps all day long as a way to keep on top of their local market. If you are a buyer or seller, it’s helpful to have a strategy to analyze comps, because all comps aren’t created equal.

Location is the highest priority

If you are trying to price a home or figure out its value, you need to look nearby. The market is based on location, so keeping as close to the subject property as possible — meaning, within the same neighborhood — is the most effective approach.

If you can’t get enough comps nearby, it’s fine to keep expanding out. But there will always be a boundary, like a school district, that you need to stay within.

Timeframe matters

The best comps are homes that are currently “pending.” Why? Because a pending home is a piece of live market data. A pending home means that a buyer and seller made a deal, and that deal will reflect the most up-to-the-minute stats on the market.

A good local real estate agent, leveraging her network, can get a fairly accurate idea what the ultimate sale price or range is for a pending deal. Try to stick with sales in the past three months, and never go more than six months, because older data is not reflective of the current market.

Factor in home features

Once you have location and timeframe, it is key to look for homes with similar features that have sold, as opposed to comparing price per square feet. While the latter is helpful, it won’t consider factors like views, a new designer kitchen or a finished basement vs. unfinished.

If you have all three bedrooms on the top floor, look for something similar. Try to compare your subject property to like properties when it comes to traits like total size, the number of bedrooms and bathrooms, and the size of the lot. You can make adjustments once you have found similar homes.

Don’t overanalyze the comps

Putting your trust in a good local agent will keep you from agonizing over the petty details of each comparable home. Your agent is likely familiar with some of the recent sales, and can help shed light on why one comp fares better than another. You may not know that one home was next to a fire station or across from a parking lot, or that another didn’t have a real backyard, but your agent will. These small nuances will affect the home’s value.

Find your home on Zillow to see your Zestimate® home value with your comps.

Related:

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

Source: zillow.com

HARP Now Extended Through 2016

The program, which helps underwater borrowers refinance, won’t be ending any time soon.

Since it first launched in 2009, the Home Affordable Refinance Program (HARP) has helped 3.2 million borrowers across the country lower their monthly payments by refinancing at historically low interest rates. Friday, FHFA Director Melvin Watt announced this relief won’t be ending any time soon.

HARP will continue through the end of 2016, allowing homeowners who owe more than their homes are worth and regularly make mortgage payments to refinance. To help eligible borrowers take advantage of this program, Zillow remains the only marketplace supporting HARP and FHA Streamline refinances.

The FHFA has started a 10-day Twitter campaign using the hashtag #HARPfacts to help spread the word. They’re targeting Chicago first, where nearly 40,000 Chicago-area homeowners could save an average $189 per month or $2,300 a year with HARP.

Get answers to your HARP questions here.

Related:

Source: zillow.com

What Are Comps? Understanding a Key Real Estate Tool

Whether you’re buying or selling a home, comparing similar homes can yield a wealth of helpful information.

“Comps,” or comparable sales, is a term anyone on either side of a real estate transaction should know well. It refers to homes located in the same area and very similar in size, condition and features as the home you are trying to buy or sell.

Buyers look at comps when deciding what price to offer on a home, and sellers use comps to figure out how to best price their home for the market. Real estate agents look at comps all day long as a way to keep on top of their local market. If you are a buyer or seller, it’s helpful to have a strategy to analyze comps, because all comps aren’t created equal.

Location is the highest priority

If you are trying to price a home or figure out its value, you need to look nearby. The market is based on location, so keeping as close to the subject property as possible — meaning, within the same neighborhood — is the most effective approach.

If you can’t get enough comps nearby, it’s fine to keep expanding out. But there will always be a boundary, like a school district, that you need to stay within.

Timeframe matters

The best comps are homes that are currently “pending.” Why? Because a pending home is a piece of live market data. A pending home means that a buyer and seller made a deal, and that deal will reflect the most up-to-the-minute stats on the market.

A good local real estate agent, leveraging her network, can get a fairly accurate idea what the ultimate sale price or range is for a pending deal. Try to stick with sales in the past three months, and never go more than six months, because older data is not reflective of the current market.

Factor in home features

Once you have location and timeframe, it is key to look for homes with similar features that have sold, as opposed to comparing price per square feet. While the latter is helpful, it won’t consider factors like views, a new designer kitchen or a finished basement vs. unfinished.

If you have all three bedrooms on the top floor, look for something similar. Try to compare your subject property to like properties when it comes to traits like total size, the number of bedrooms and bathrooms, and the size of the lot. You can make adjustments once you have found similar homes.

Don’t overanalyze the comps

Putting your trust in a good local agent will keep you from agonizing over the petty details of each comparable home. Your agent is likely familiar with some of the recent sales, and can help shed light on why one comp fares better than another. You may not know that one home was next to a fire station or across from a parking lot, or that another didn’t have a real backyard, but your agent will. These small nuances will affect the home’s value.

Find your home on Zillow to see your Zestimate® home value with your comps.

Related:

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

Source: zillow.com

Facts About Using a Co-Signer on a Mortgage

If you’re thinking about buying a home with a co-signer, be sure you know what that means for both you and them.

Do you need a co-signer to buy a home? To help you decide, let’s review the reasons you might use a co-signer, the types of co-signers, and the various requirements lenders have for allowing co-signers.

When to use a co-signer

Many young professionals ask their parents to co-sign while they’re ramping up their income. Other lesser-known but still common scenarios include:

  • Divorcees use co-signers to help qualify for a home they’re taking over from ex-spouses.
  • People taking career time off to go back to school use co-signers to help during this transitional phase.
  • Self-employed borrowers whose tax returns don’t fully reflect their actual income use co-signers to bridge the gap.

Before using a co-signer, make sure all parties are clear on the end game. Will you ever be able to afford the home on your own? Is the co-signer expecting to retain an ownership percentage of the home?

Types of co-signers

There are two main types of co-signers: those that will live in the home, and those that will not. Lenders refer to these as occupant co-borrowers and non-occupant co-borrowers, respectively.

  • Non-occupant co-borrowers are the more common category for co-signers, so the lender requirements summarized below are for non-occupant co-borrowers.
  • Occupant co-borrowers who are co-signing on a new home can expect lenders to scrutinize the location and cost of their current home, and should also expect post-closing occupancy checks to verify they’ve actually moved into the new home.

Ownership considerations for co-signers

Lenders require that anyone on the loan must also be on the title to the home, so a co-signer will be considered an owner of the home.

If borrowers take title as joint tenants, the occupant and non-occupant co-borrowers will each have equal ownership shares to the property.

If borrowers take title as tenants in common, the occupant and non-occupant co-borrowers can define their individual ownership shares to the property.

Financial considerations for co-signers

Lenders allow occupant and non-occupant co-borrowers to have different ownership shares in the property because the Note (which is the contract for the loan) makes them both equally liable for the loan.

This means that if an occupant co-borrower is late on the mortgage, this will hurt their credit and the non-occupant co-borrower’s (aka the co-signer’s) credit.

Another co-signer risk is that the co-signed mortgage will often count against them when qualifying for personal, auto, business, and student loans in the future. But the co-signed mortgage can sometimes be excluded from future mortgage loan qualification calculations if the co-signer can provide documentation to prove two things to their new mortgage lender:

  • The occupant co-borrower has been making the full mortgage payments on the co-signed loan for at least 12 months.
  • There is no history of late payments on the co-signed loan.

Lender requirements for co-signers

Occupant co-borrowers must have skin in the game when using a co-signer, and lender rules vary based on loan type and down payment. Below are common lender requirements for co-signers. This list isn’t all-inclusive, and conditions vary by borrower, so find a local lender to advise on your situation.

  • For conforming loans (up to $417,000, and high-balance conforming loans up to $625,500 by county), Fannie Mae and Freddie Mac will allow for the debt-to-income ratio (DTI) to be calculated by simply combining the incomes of the occupant and non-occupant co-borrower. This is known as a “blended ratio,” and is especially helpful when the co-signer has most of the income.
  • Conforming loans will require at least a five-percent down payment to allow a co-signer.
  • For conforming loans with less than 20 percent down, lenders will require at least five percent of the down payment come from the occupant co-borrower. Flexible programs like Fannie Mae HomeReady loan allow blended ratios for co-signers, and go further by allowing income of people who won’t even be on the loan but that will verify in writing that they’ll be living in the home with you for at least 12 months.
  • Some jumbo loans above $417,000 (or above the conforming high-balance limit by county) will allow blended ratios for qualifying with co-signers. Your lender will advise based on your down payment, reserves left over after the loan closes, loan amount, credit score, and other components of your profile.
  • Many jumbo loans allow for the occupant co-borrower’s DTI to go as high as 50 percent when using a co-signer, but in most of these cases, at least 10 percent of the down payment must come from the occupant co-borrower.
  • Select jumbo loans allow for the occupant co-borrower’s DTI to go as high as 75 percent when using a co-signer, but there will be many other requirements, and the rates won’t be as competitive.

Related:

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

Source: zillow.com

3 Situations Where It Pays to Buy a Fixer-Upper

You finally found “the house,” but it needs some work. Will it be a money pit or a money maker?

It’s every home buyer’s worst nightmare: Finding a house within striking distance — of your price range and work— that quickly turns into a money pit.

On the flip side of the fixer-upper experience is someone like Jordan Brannon, a director of digital strategy in Spanaway, WA, near Tacoma. Although he’s sunk considerable money into his two-story, late-1990s home, he feels it was a good investment.

“It was about finding a home that we could add value to — and could purchase at a below-market rate,” he says of his 3,000-square-foot home. But there was one crucial caveat: “The fixer-upper work that we wanted to do, we had to be able to do.”

While that fixer-upper you’ve got your eye on may not be the steal you’re expecting — the average fixer-upper lists for just eight percent less than market value, according to a new analysis from Zillow — it’s still a tempting prospect for many buyers.

Should you make a fixer-upper your next home? Here are three scenarios where the answer may be “Yes!”

When the upgrades are simple

Knowing that hiring contractors was out of the question — in part because Brannon works from home — Brannon and his wife focused on finding a home they could revamp themselves.

This meant forgoing homes with any foundation, electrical, or plumbing issues, and eyeing properties where cosmetic upgrades were the name of the game.

This isn’t to say the couple didn’t put in a lot of hard work; the project took nearly three months.

“We basically gutted the first floor down to drywall — did a full repaint, with all new trim; replaced the kitchen cabinets and countertops, and added new light fixtures and door handles,” Brannon says. New toilets and sinks are recent installments.

“The home looks 10 years younger, and feels cleaner and brighter,” Brannon remarks. “We’re more comfortable living in it, and I’m confident we’ve made an improvement in the home’s resale value.”

Combined estimates from contractors put the value of the improvements around $55,000, minus one bathroom. Altogether, Brannon says the couple spent about $15,000 on the work, plus 240 hours in labor (yes, he’s been tracking). For Brannon, it was a worthwhile endeavor.

When the numbers add up

“Fixer uppers [only] make sense as long as the numbers pencil out,” says George Vanderploeg, a luxury real estate broker with Douglas Elliman in New York. In other words, “Is the money that I have to put into it going to make the property worth at least that much when I do it?”

In general, people will price a property based on what others sell for, Vanderploeg explains. “If I were just to pick a block in Manhattan, say on 63rd Street, between Lexington and Third Avenue, the renovated townhouses there might sell for $3,000 per square foot,” he continues. “An un-renovated townhouse might sell for maybe $2,000 per square foot. If you have the money to put in, it may all work out.”

Of course, for many home buyers, especially those without a big — or any— renovations budget, this is easier said than done.

When the timing is right

Every municipality has a building code, says Vanderploeg, and the work that you do on the home must fall within legal bounds. “An architect usually will supervise the work, and then at the end of the process, they’ll sign off on it,” he says. However, this can be time-consuming.

You can also run into hurdles if your contractor falls behind schedule, has trouble staying on budget, or is just unreliable. “Where people go wrong sometimes is having a bad contractor,” says Vanderploeg.

If you’re unable to live in the home or get stuck waiting for permits, you could also find yourself in a bind. “Sometimes we have to find people a place to live for six months to a year while they’re waiting for something to be finished,” Vanderploeg adds.

For these reasons alone, homeowners need to be clear-eyed about the renovation process.

Remember, committing to upgrade a fixer-upper is more than a labor of love — it requires a time and financial commitment. But if you’re willing to go all in, think about the bragging rights!

Hear about one family’s fixer-upper experience:

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Top image from Zillow listing.

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Source: zillow.com

Understanding Single-Family Home HOAs

Before you buy a home in an HOA-governed community, make sure you review the rules thoroughly.

What does HOA mean?

HOA means homeowners association. It can also be referred to as HOD or Home Owners Dues. HOAs can exist in planned housing developments, town homes, and condos. It is generally billed on a monthly basis.

Most people think of homeowners associations (HOAs), legally known as Common Interest Developments, as related to attached housing structures like condominiums or town homes. But this is not always the case.

Around the 1980s, developers started building communities of single-family homes that were actually Common Interest Developments. These communities came with their own sets of rules, regulations and HOA fees.

The reason builders starting developing communities in the HOAs structure was to maintain order and the aesthetics of a community. Their rules keep home paint colors and front yards in harmony, restrict building additions that don’t fit into the neighborhood, and stop owners from parking broken-down vehicles in their driveways or front yards. Such regulations assure new and existing owners that a neighbor’s behavior and choices will not diminish property values.

But they also mean that you must follow the rules yourself, and typically contribute monthly fees to manage and run the HOA for the benefit of all owners. When residents violate these rules — which can cause stress for other owners and hurt property values– the HOA will typically step in and enforce them with violation notices, fines and possibly litigation, if the issue gets that far.

The root of the issue

Often, the problem is not the rules, it’s that people don’t read the rules and regulations before they buy into a community, and then they violate the rules. But ignorance is no excuse — those rules are recorded on the property title, and likely given to every buyer to review before they purchase a home in a standard transaction. Owners are still bound by those rules whether they received and read them or not.

If you are buying into an HOA-governed community, be sure to read the rules and regulations before you buy. Once you’ve read them, if you don’t like them, then you should avoid buying a property in that community.

What if you already own in an HOA, and don’t like the rules or how the elected HOA board of directors interprets and enforces them? Luckily, an HOA is a democracy and the owners can vote out the board of directors and change the rules!

Any member-owner can try to get elected to the board and change the regulations. They just have to get enough other community members to support their opinion and vision for the community.

Unfortunately, most community members never go to a board meeting and never get involved. They just complain about the board — who are all volunteers, by the way — and complain about HOA fees, rules, and special assessments, etc.

If you are one of those owners who doesn’t like the rules, then get involved and take the time to campaign in your community, get on the board, and change the regulations.

Do Renters Pay HOA Dues?

“The landlord cannot force you to pay the HOA unless that is what is required in the lease. If it is part of the lease, then you have to pay. If not, you don’t, but the owner may decide to find another tenant when the lease is up.

If the HOA is not doing their job in clearing snow, I would write them a letter and send copy to the landlord. You are not the owner so they may not listen, but it gives you proof of the issue and may prompt the owner to act.”

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Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

Source: zillow.com

Is Paying Rent in Advance a Good Idea?

Thinking about handing over a stack of money to secure an apartment or get a rent discount? Be sure you know what you’re getting into.

In some instances a landlord might offer, or you might propose, paying rent in advance. This could be done to secure a particular property that is on the rental market, or to get a discount on rent.

Paying in advance could be a good idea depending on the circumstances, but be sure you know what you’re getting into — especially if you’re paying a significant amount like a full year’s rent upfront.

Paying ahead to secure a unit

If you are vying to rent a particular property and you believe the competition is fierce, you might think offering to pay a large amount of rent upfront could help seal the deal. Or the landlord might encourage you to do this to get the place. It could be a good idea if the rental is a great place for you at the right price. However, you do want to be careful of a few issues.

First, as with any rental property, watch out for fraud. Sometimes scammers try to rent a property they don’t own. It might be done fully online, or they might meet you at the property, gain access somehow, pretend they’re the landlord, and take your security deposit. They could also push you into providing upfront rent for the place to secure it. Unfortunately, if they are a fraudster, you’ll never see a dime of your money again.

To protect yourself, research the landlord and the property, and talk to a real estate agent about any concerns. Go meet the landlord at their office if possible, never wire money, and watch out if the deal seems too good to be true.

Even if the landlord is reputable, if they ask for extra rent upfront, try to verify that they’re not going into foreclosure. If they do lose the property, you’re pretty well protected under many states’ laws if you’ve paid rent.

Paying ahead to get discounted rent

If you are already living in the property and the option comes up to pay advance rent, it should come with a sweetener like reduced rent or some other benefit to you. You are taking a risk by paying upfront. What if the place burns down, or there is a flood, or you have to move out? Do you want to fight with a landlord over getting your money returned? It’s not worth it in most cases.

Sometimes it may make sense if there is a benefit sweetener to you. You’ll have to determine whether or not it is the right incentive for you to jump on it. A 10-percent discount might make paying a full year in advance a good option, but only if you are sure the landlord is stable and you’ll be able to get your full year of residency. A smaller discount might not be worth the risk.

Overall, these pay-in-advance options are infrequently available, but if one comes up and it’s a good arrangement with low risk, it might be to your benefit to open up that checkbook and make the deal.

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

Source: zillow.com