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FAQ

Are there any online lawyer services that allow me to cheaply draw up a lease agreement for renting out my condo?
You can get inexpensive forms from Realtor associations. I am sure that LegalZoom would help you draw up a lease agreement. Nolo might sell forms as well.Keep in mind however, that none of these forms will be specific to your needs. If there is anything special about your needs, these forms will not help you identify them. This is the major risk to using a form that isn’t drawn up specifically for you.Sometimes cheap is fine. Sometimes cheap lends itself to trouble. Alas, you often don’t know which is the case until it is too late. Make sure that anything you get covers not only state law, but any local laws that are relevant to your situation.
Have you tried to sign your lease agreement online? How does it work? Is it free or do I have to pay?
I’m not aware of any landlords or management companies that charge a fee to sign the rental agreement online. In fact they are moving more and more to digital signatures as way to speed up and make signing more convenient.Colorado Lease Agreement /4421976 Free Condo Lease Agreement is a very commonly used digital signature and document management program/service.
Is it a good idea to buy a condo and to lease it out to other people, in order to make more money?
Yes, provided you can lease it out at a profit.  Generally speaking, today's rental market is strong while the sales market is weak, creating an environment in which buying a home to lease out at a profit can be, well, profitable.But a condominium is a restricted form of ownership whereby the owner is subject to rules and regulations adopted by the governing board of the association of condo owners in the building or complex. So it is critical that you understand what restrictions, if any, are placed on the renting of your condo before you buy it. Must the renter be "approved" and, if so, what are the requirements for approval? Are there any fees, excessive paperwork or waiting periods involved? These are the types questions that must be asked before considering a condominium as an investment property. To find out whether this is a good idea for you requires research into the rental market in your area and, if possible, the specific building or complex where the proposed condo is located. Besides researching rental prices, you'll want to find out the strength of demand there, specifically how long are rental properties on the market before they are being rented? This will give you an idea of how long you might have to "hold" the apartment before it is rented and how long it may be vacant between tenancies. This is often overlooked by novice investors.For most people, using an experienced real estate broker to acquire the condo who is also experienced in rentals will be an essential part of such a project. There are a myriad of variables, pitfalls and possibilities that can make this either an extremely rewarding investment or a complete financial and emotional disaster. My advice is to seek out the best broker in your area to assist you. Good luck?
What's important to have in a written agreement for my mother's significant other to live rent free in her condo after she dies?
Your mother’s friend will need a rental agreement with the heirs of her condo to become effective when your mother dies. Your mother should also establish a trust fund to pay her friend’s rent.There is nothing free in this world.
What personality tests are good, free, and on the internet to fill out?
Many free personality assessments are fun, but not really useful.  It depends on what you are looking for. If the 'test' provides you with results but no way to use the information (no interpretation of your results, no debrief, no access to a trained consultant) then you have data with potentially no understanding, no context or no way to apply the results. Unless you can find the content and consultant on your own you have to consider what you will do with the results.  Finding a 'test' that is based on well known personality constructs and not one that makes up it's own personality factors is generally a better idea. Look for tests that offer you information on how they were created and what they were validated with (if the results are repeatable and how well they measure what they say they are measuring).I use an on-line assessment tool for Jungian Personality type assessment called Typefocus.com  - there is a free version and the option for a more detailed paid result. I have used this assessment for 8 years and find it's validity as good as any out there for measuring Jungian personality type (it uses the same jungian functions as the MBTI, against which it has been validated). The reason I use this assessment is that there is also a lot of data related to personality type available in general and many trained interpreters you can tap into once you obtain your results. I have assessed many, many on-line personality assessments over the years and there are a lot that you can have fun with and others you will find more useful.
How do I file my taxes with renting out my home and lease a condo for my primary residence?
Disclaimer: I’m not an accountant, so this isn’t accounting advice. For that, you need an accountant.You don’t get any benefit from renting a condo. (The fact that it’s a condo doesn’t matter. You’re a renter. There are no tax benefits or considerations from renting a residence.)Renting out your home is a different matter. That’s a rental property. To oversimplify somewhat, you’ll report both your income and expenses. Your income is the rent you receive plus any other payments you receive. (Some people, for instance, rent out a garage or shed separately.)Your expenses fall into several categories. Any repairs or maintenance are taken in the year you pay for them. However, replacing certain (often high-ticket) items—such as a roof, windows, carpet, appliances—are depreciated over a set number of years. In addition, the house itself is depreciated. Also, expenses incurred in renting the house out (newspaper advertisements, fees paid to real estate agents or others) are deductible in the year they occur. Taxes, insurance, etc., also are deductible. Pretty much anything that costs you money that involves the rental of the property is deductible.But one thing that’s not deductible is your own labor. Suppose a toilet needs to be fixed. If you buy the supplies and drive over to the house, those supplies and your car expenses are deductible. But the two hours you spend fixing the problem isn’t. On the other hand, if you call a plumber, then all his charges—including his labor—are deductible.