Santa Clarita, CA

Our normal lease term is 1-year. Sometimes we are approached and asked if the owner would consider a multi-year lease at a reduced rate. I'm not against a multi-year deal; but what assurance do you have that the tenant is going to stay in the home for the entire term. I would advise that if you do go for a reduced rate, on a multi-year contract, that you include some language in your contract like:

"Landlord and Tenant have entered into an agreement wherein the original rent amount of X has been reduced to Y based on a longer time period contract than normal. Tenant agrees that if they do not serve out the entire lease term that landlord is entitled to receive the full amount of rent X back to the beginning of the contract. The back rent may be taken from any funds held by Landlord, or Landlord's representative, including but not necessarily limited to security deposits, pet deposits, last month's rent held, or any other Tenant funds in Landlord's possession."

What this clause is essentially saying is this. Let's say that normal rent is $2,000 under a 1-year deal. They offer you $1,900 under a 2-year deal, and you accept that offer. They leave in month 18 of a 24 month contract. You have been receiving less than you should under the contract for the last 18 months; you are out $1,800 dollars. You want to be able to, at a minimum, get your money from any of the Tenant's money that you are holding.

-----

Scott Taylor is the principal property manager and co-owner of SCV Leasing in Santa Clarita, California. SCV Leasing serves Valencia, Stevenson Ranch, Newhall, Santa Clarita, Saugus, Canyon Country, Fair Oaks Ranch, Castaic, Sand Canyon, and Westridge with homes for rent, condos for rent, and property management services.

His experience as a rental property owner and as a property manager makes him the best choice for managing your rental. SCV Leasing's unsurpassed marketing plan puts renters in properties fast. Mr. Taylor can be reached at scott@scvleasing.com.

What is a Loan Modification?

Sometimes also known as mortgage modification it involves the reduction of the following:

1. The interest rate on the loan

2. The priniple balance of the loan

3. the term of the loan

4. Any combination of the above three

These typically result in a lower payment to the home owner and a more affordable mortgage.

The Benefit: Reduces the payment a home owner is required to make on a monthly basis and may reduce the principle balance

The Disadvantage: It requires that the home owner is qualified for the new payment and will often require full documentation.

Usually the home owner is disappointed with the end result of the loan modification because it's not the reduction they were hoping for.

<>

The Renno Lending Team Jason & Keith Renno Loan Consultants (661) 290-3819 Office- Jason (661) 290-3817 Office- Keith (818) 644-0686 Cell- Jason (818) 521-8515 Cell- Keith (866) 371-7991 Team E-Fax Team Email:TheRennoLendingTeam@Prospectmtg.com Website and Online Application: www.RennoLending.com

New Listing 22718 Rio Chico Drive, Valencia, CA. 91354

Gorgeously remodeled Valencia Racquet Club with two master suites ( one up, one down) and lots of sky lights so this home shows light and bright. Remodeled kitchen with with beautiful cabinets and granite. Enjoy added storage, vaulted ceilings, laminate floors and more. Outside enjoy covered patio with ample grass area or enjoy the amenities of the HOA. Community pool & spa, tennis courts, rec center, basketball courts, and playground. $365,000

For more information click here.

Working in this Constrictive Market with a slew of buyers - More buyers than anyone deserves :-) has brought something on our team that was not expected.

With the Huge Demand for Foreclosure, Regular human, any and all - Listings - we have found ourselves thinking about starting a First Time - or anytime buyer's support group.

Here are how the numbers weigh in when it comes to Santa Clarita Valley California:

New Listings topple the chart at 24 in the last 24 hours.

Out of those we have 5 that are Real Estate Owned Foreclosures and 7 that are Short Sales, both property types can be seen on our Directed Real Estate in Santa Clarita News and Information Platforms.

For Short Sales - Information about Short Sales in the Santa Clarita Valley Click Here!

For the Foreclosure activity in the Santa Clarita Valley and all of the wonderful happenings with regard to Bank Owned Homes - We have that placed here.

For any and all Santa Clarita Relocation and how we operate our RE/MAX Relocation Business Model - Visit this site.

And for everything else that is Santa Clarita Real Estate and in the Surrounding Communities - Visit this site.