Hector Lesende

All landlords in the Miami real estate market must be able to know when and how to do an eviction. Being a landlord is today's market is a full time job. The landlord must follow all the rules and must act quickly for time is of the essence. A landlord must know when to evict. Allowing the tenant to live in the property rent free is unaffordable and devastating. Delaying an eviction and giving a bad tenant more time is a very costly mistake that should be avoided. The landlord must realize that when to evict is just as important as how to evict. Landlords must follow the 5 steps of when to evict so that a bad tenant is ejected.

These are the 5 Steps of When to Evict in Miami real estate.

Never allow the tenant to do the following:

1. Non-payment of rent - The landlord must evict immediately when the tenant does not pay the rent. The more you wait the worst it is later and the more money you lose. The landlord can not hesitate and must evict right away. The landlord can't waste any time and must give the three day notice before the 5th of the month. This will reduce the amount of time the tenant is in the premises without paying the rent. Tenants will use any excuse not to pay the rent and if allowed they will remain in the property for months rent free in the Miami real estate market.

2. Late payments - Evict a tenant if they continuously pay rent late and they refuse to pay a late fee. It is all right for a tenant to be late once in a while as long as a late fee is collected. If the tenant is constantly paying rent and near the end of the month is time to get another tenant in the Miami real estate market. The pattern of paying late is intolerable, time consuming and a waste of time and money for the landlord. The landlord must realize that an eviction is inevitable and it is better to do it sooner than later.

3. Withhold rent - When the tenant withholds the rent money until the landlord does repairs to the premises you must evict right away. Tenants will try to withhold rent until they get their way. Usually the excuse is that not all repairs have been completed. Tenants will take pictures of the repairs to be made. The landlord is obligated to do any repairs in order to get the tenant to pay the rent. This form of blackmail in the Miami real estate is not to be allowed. The tenant should not use withholding of rent as a tool for negotiating repairs. The tenant should not force the landlord to do unnecessary and arbitrary repairs.

4. Deduct rent - Evict when a tenant decides to deduct repairs from the monthly payments. The tenant must always pay full rent as agreed. Tenants will buy a brand new stainless steal refrigerator and then deduct form the rent. Tenant is not allowed to deduct any portion of the rent for repairs, improvements, appliances or any other reason. The rent in the Miami real estate market should be separated from the property repairs. Repairs must be approved and paid by the landlord at all times. The tenant should not decide which repairs are to be done and when to do them. The tenant can not make repairs first and then advice the landlord he/she will deduct the repairs from the rent.

5. Live the deposit - Start an eviction immediately when the tenant advises you that he/she is not paying rent and will live the deposit. Living the deposit is unacceptable and against the law. The problem is that the landlord does not know for sure if the tenant will in fact leave the premises when the deposit is gone. It is not unusual for the tenant to stay in the property and try to live subsequent months for free. Do not allow the tenant to live the deposit under any circumstances. The deposit is returned to the tenant in the Miami real estate market usually 15 days after the tenant leaves the premises and the landlord has an opportunity to inspect. The landlord will deduct from the security deposit any funds used to repair the property.

The landlord must follow the five steps of when to evict in the Miami real estate market and take action immediately in order to avoid a potential nightmare. Don't keep a bad tenant in the property just so the place won't be vacant or just because it will be hard to rent. It is always better to rent the property to someone else who will pay the rent on time and take care of the property. Screening the tenant is an essential step in the renting process. Eliminating a bad tenant who is in the practice of, not paying the rent, making late payments without paying late fees, withholding rent until repairs or other demands are made, deducting the repairs from the rent, and living the deposit, is a must for today's landlords. Identifying bad tenants and eliminating potential problems is essential in order to succeed as a landlord in the competitive Miami real estate market.

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Hector Lesende is owner/licensed real estate broker in Miami, Florida and creator of the (Lesende) L Steps. Please visit <a href="http://www.lesende.com/">Miami Real Estate </a> We will sell your home fast. We offer a Foreclosure List. Search <a href="http://www.lesende.com/blog">Miami Real Estate Blog</a> Search <a href="http://www.lesende.com/coral-gables-real-estate.php">Coral Gables Real Estate</a>

Real estate investing in Miami real estate is now becoming popular again as there are many properties in foreclosure, short sale, bank reo's, and government foreclosures. With such an overwhelming inventory of homes available for sale a real estate investor must be able to determine which one to purchase. Investors must follow six steps in order to learn, understand and achieve Miami real estate investment success.

These are the six L steps to Miami real estate investing:

1. Location - Location, location, location is still the key of buying Miami real estate. Buying Miami real estate just because the price is low in a declining area is big mistake that should be avoided. Look for homes in an excellent location like, good schools, economic stable and growing neighborhoods, near shopping centers and malls, near bus stops and metro rails, near hospitals and restaurants. Sometimes it is better to pay a little more for a property in a good location than getting a bargain in a place where it is very hard to sell or rent the asset. Location is often overlooked in purchasing real estate as many investor think they can overcome a bad location if the price is low enough. Out of two homes that are exactly the same, the one in the best location will command a much higher sales price and rental income. Location is the number consideration when purchasing Miami South Florida real estate.

2. Long Term - Real estate investing is a long term proposition. Don't think you are going to be a millionaire over night. It takes years of hard work and dedication in order to succeed. Hold any property at least one year before selling it. Capital gain taxes will be greatly reduced. Consider renting the property for at two or three years. The rental income generated will help you to properly repair and renovate the property. Many investors purchased properties in the middle of real estate boom with no money down and no equity. These investors were thinking of flipping the homes fast and make a killing in the process. Many homes now in foreclosure are due to investors that were caught in the middle and now realize that real estate investing is very hard to time. Long term Miami real estate investing is the secret to a successful real estate career.

3. Lease Option - Never rent a property with a lease option to buy. Either sell or rent it straight out. A lease option usually is a disaster for both buyers and sellers. The tenant will demand a large discount of the rent to go towards the down payment and closing costs. The problem is that tenant will not buy the property at the end of the lease and the landlord/seller will have wasted a lot of money in rebates given to the tenant/buyer. Demand a 20% or 30% deposit from the tenant/buyer and a clause in the contract that if they default on the purchase they will lose the deposit. This technique will force the tenant/buyer to purchase the property or lose the deposit. The risk of losing the deposit will eliminate the tenant from taking advantage of the landlord by walking out of the contract after receiving a monthly rental discount.

4. Local - Buy real estate close to where you live. Don't buy real estate in another state or in another country. Keep real estate investing local. Buy in your own county and in your city. The more you know about the area where you are buying the better the decision will be. The investor should always be close to the investment property. The Miami real estate investor should inspect the property often to determine any repair, roof and other problems. The landlord must inspect the property every month when collecting the rent. Check for the number of tenants actually living in the property, check for damages and destruction of the property and overall condition of the place. The investor/landlord will not be able to inspect and determine the condition of the property if it is located far away. Keeping real estate local is an essential step in real estate investing.

5. Leverage - Most real estate books and seminars tell you to use other people's money when purchasing real estate. This technique is not the best and buyers should try to buy the property in cash if at all possible. Buying a house in cash will help you get a better deal and allow you to negotiate from a position of strength. A cash buyer will always have the upper hand in negotiating with banks, property owners, and other sellers. Cash buyers will not suffer and go into foreclosure if the market turns and they are unable to sell or rent the house right away. Like Dave Ramsey always says "cash is king and debt is dumb". Buying an investment property in cash is an excellent way to avoid Miami real estate investment mistakes.

6. Learn - Research the property and learn everything about it before you buy. A mistake in Miami real estate investing can be very costly. Usually you make your money when you buy not when you sell. Buying the property at the wrong price the wrong place and at the wrong time could be detrimental. One mistake could wipe you out and put you out of business before you start. Ask questions to the experts, real estate agents, appraisers, mortgage brokers, and other real estate investors. Learn, research, educate yourself in all aspects of real estate investing before you purchase the asset.

It is definitely a buyers market in Miami-Dade County. Miami real estate investors have more choices than ever before when it comes to real estate investing. Investors must follow the L steps, the 6 steps real estate investor guide to successful real estate investing in order to achieve their investment goals in the Miami real estate market.

Hector Lesende is owner/licensed real estate broker in Miami, Florida and creator of the (Lesende) L Steps. Please visit http://www.lesende.com We will sell your home fast. We offer a Foreclosure List. http://www.lesende.com/blog

HUD homes sales are very popular in the Miami real estate market. Investors are always looking for bargain prices when purchasing real estate. HUD homes Daily All Bidders list is the best way of buying HUD homes for investors. HUD is offering a lot of incentives in order to sell their Miami real estate inventory. The $100 down payment for owner-occupants is a very attractive FHA loan incentive. The FHA 203k program is a good way to obtain money for repairs. The 203k program allows the buyer to combine the cost of repairs and the mortgage. HUD is also giving sales allowances that allow the buyer to pay down the mortgage, pay closing costs, or make repairs. These incentives do not apply to investors.

Daily All Bidders - Investors are not allowed to purchase a HUD home in the initial bidding period. The investor must wait for the property to go into the Daily All Bidder status. When a Miami HUD home does not sell in the initial offer period it goes into a Daily bid list. This is when the investors come in and pick up the property at a discount. Investors try different bids usually starting low and moving up until their bid is accepted. The Daily bid is an excellent way for the investors and end users to buy a HUD home in the Miami real estate market without having to compete in the regular bid process. Investors do not want to get caught up in a bidding war which can raise the sales price. The first acceptable HUD bid is accepted in a daily manner. HUD will reject all offers that do not meet their guidelines and is considered too low.

HUD will not disclosure the percentage they will take as the lowest bid. This percentage could be from 13% to 50% or less depending how long the property remains in the Miami real estate market. All Miami HUD homes used to sell on the initial offer period and for a lot more money than the starting bid. It was not uncommon for a property to sell for 50% over the list price with multiples bids offered for the same property. All of this has changed dramatically. Now most of the HUD properties do not sell in the initial period. Most of the Miami real estate inventory is sold in the Daily bids at discounted prices. The net to HUD is usually is now much lower than the original price.

Many investors study the bid results page so that they can determine the lowest percentage HUD will accept. The results also shows the selling office, date of sale, the offer accepted and the net to HUD. All HUD homes are sold in as is condition. An investor must make a bid through a registered real estate agent. There are now more HUD homes available for sale in the Daily bid list. The numbers of HUD homes will increase greatly due to the high number of FHA loans being originated. Investors must consider the Daily All Bidders when purchasing a HUD home in the Miami real estate area.

Hector Lesende is Owner/Licensed Real Estate Broker in Miami, Florida. Please visit <a href="http://www.lesende.com">Miami Real Estate</a> Search <a href="http://www.lesende.com/coral-gables-real-estate.php">Coral Hector Lesende is Owner/Licensed Real Estate Broker in Miami South Florida. Please visit <a href="http://www.lesende.com">Miami Real Estate</a> Search <a href="http://www.lesende.com/coral-gables-real-estate.php">Coral Gables Real Estate</a> We will sell your home from only 1% commission. We provide a free Miami Foreclosure and MLS http://www.lesende.com

Marc Rasmussen's site thesarasotamls.com has been shut down due to trademark issues in his ongoing battle with the Sarasota Association of Realtors (SAR). This post by Morgan Carey of Real Estate Webmasters explains all the details. This action is very unfair since Marc has a disclaimer in his site stating that he is not Sarasota MLS. No one has confused his site for the Sarasota MLS. There's never been any consumer complaints. Marc was cleared of all ethics violations filed against him by (NAR) National Association of Realtors. (ICANN) International Corporation of the Assignment of Names & Numbers ruled against Marc on charges on trademark infringement by SAR and Marc was ordered to give up his domain name and transfer it to SAR.

Marc's only crime is being too successful. Marc used to get over 700 visitors per day on his site. He had hundreds of number one rankings for many Sarasota real estate related keywords. The visitors were not looking for Sarasota MLS; they wanted to search homes for sale in Sarasota. Marc was not trying to trick or deceive anyone. It is unfair to single out one Realtor just because of his overwhelming success online. The SAR board should allow Marc to keep his domain name and redirect it to his new website www.luxurysarasotarealestate.com so he doesn't lose all the years of hard work he has put into the site.

We are linking to his website from our Miami real estate website's home page. Let's all get a No SARjacking Badge to show our support for Marc Rasmussen.

Related posts: Joe & Colleen, Judy Orr, SAR Pokie

The Miami real estate rental market is booming. Finding a qualified tenant that will maintain the property in good condition and pay the rent on time is a challenge. Miami-Dade County Housing Authority - Section 8 is an excellent way of finding tenants with most of the rent guaranteed by the US government and timely inspections done yearly. The benefits of renting to Section 8 tenants far outweigh the detriments. The landlord must follow all the procedures, rules and guidelines of the Section 8 process in order to comply with all the requirements.

The Section 8 rental process is as follows:

1. Finding the tenant. Miami-Dade Housing Authority produces a list of available homes for rent in the Miami real estate area. The landlords can be added to the list so that all potential tenants can find available properties for rent. Be advised that Section 8 tenants do not have two months deposit plus the current month rent so you must be flexible.

2. Fill out the voucher. Each tenant has a voucher that must be filled out thoroughly and notarized. Any mistakes in the voucher will delay the process. The application will be rejected and all mistakes must be corrected. The Section 8 rental process begins once the voucher is delivered to the field office.

3. Survey. A property survey is conducted to insure that the rent requested is comparable to the rent charged in the Miami real estate area. The survey is a crucial step in the process. The landlord will receive a call from Miami-Dade Housing in the event the property does not pass the survey. The landlord will get the opportunity to lower the requested rent amount or cancel the contract.

4. Initial Inspection. According to the new guidelines the landlord gets only one chance to pass the initial Section 8 inspection. If the property does not pass the inspection the tenant must get another voucher and start the process again. The inspection consists of the following: no dead bolt locks, no exposed wiring, covered fixtures, weather tight doors, no dead bolt locks, no exposed wiring, covered fixtures, air conditioner must have heater, smoke alarms, electrical panel box, water heater, windows, bedroom must have a closet, windows must have screens, kitchen must have range hood over the stove, bathroom must have ventilator fan, all window bars must have openings, no scaling paint, no trash or junk vehicles in yard, among others.

5. Rent Increase. There is usually a yearly rent increase. The landlord must request the rent increase in writing two months before the lease is due and the re-certification is done. The maximum amount of rent increase is 8% unless a freeze is in effect for that year in the Miami real estate market. The landlord will not receive a rent increase if there are errors filling out the forms, or the forms are filled incorrectly or not turned in on time.

6. Yearly inspections. The property is inspected once a year by Section 8. You will receive a list of items that must be repaired, if any. It is specified if the tenant or the landlord is responsible to do the repairs in the list. You have 30 days to do all repairs and if you fail the second inspection the rent payments are stopped. The payments will resume after all repairs are completed. The payments are not retroactive. The rent will stop permanently if no repairs are made.

7. First Rent Check. The landlord must be prepared to wait for the first check to arrive in the mail. The first check can take up to five months to arrive. Section 8 has tried to speed up the process but has not corrected it yet. After the first check is received and the tenant is in the system all consequent checks are received every third day of the month in a timely manner.

The Miami real estate Section 8 rental process takes about a month to complete and the landlord must be diligent in following up and keeping track of the inspection, survey process. It is in the landlord's best interest to follow all the procedures so that the property can be rented quickly in the Miami real estate market. The best thing to do is to go in person to the Section 8 office and find out the status of your property and potential tenant. Don't assume that everything is fine. Miami Section 8 has an overwhelming number of tenants.

The process of renting to a Section 8 tenant is difficult and time consuming but definitely worth the effort. The tenant is not allowed to move into the property until the survey and inspection are done. Miami Housing Authority will not pay the rent if the tenant is allowed to move in prior to approval and no initial inspections are conducted while the tenant is occupying the property. Section 8 tenants are highly regulated and must confirm to very strict rules and regulations. Renting to Section 8 tenants is a viable alternative in today's Miami real estate market.

Hector Lesende is Owner/Licensed Real Estate Broker in Miami, Florida. Please visit Miami Real Estate. Search Miami Lakes Real Estate. We will sell your home from only 1% commission. Miami Section 8 Expert Agent. Visit http://www.lesende.com