Austin and the state of Texas sometimes have different opinions on regulations, policies and laws. One recent high-profile example involves the issue of short-term rentals (STRS), which are a room or home rentals of 30 days or less. This is a hot-button topic as other parts of the country have embraced or sought or regulate the use of Air BNBs and other online STRS services.
Eminent domain is the government’s way to take private land for public use under certain circumstances. The Takings Clause of the U.S. Constitution’s Fifth Amendment defines that power for the government. For state and local governments, the clause applies through the Fourteenth Amendment, which limits governments from taking private property from citizens “without just compensation.”
Real estate transactions are the largest deal that the average person makes in their lifetime. So it is crucial to find a real estate agent that is the right fit regardless of whether one buys or sells. At their best, these agents bring advantageous deals to the table and provide knowledge and support that makes for a smooth closing. At their worst, a realtor can badly misread the market, the intentions and potential of a buyer or seller across the table, or unnecessarily delay sales through incompetence or indifference.
Most of us need a mortgage to buy a home. So determining the size of a mortgage is likely the most critical part of the process, some may argue it is more important than picking the actual house or condo.
The robust real estate market here in Austin is great for those who own property, particularly if they got in a while ago and bought low. Nevertheless, the competitive market should not prevent others from buying a rental property because it is still often an excellent investment.
When parties sign a real estate contract, it is with the assumption that the businesses, buyers, landlords or tenants will honor the terms. However, this is not always the case, or perhaps they even violated the law. The contract will usually outline the terms of contract violation, but the reality of solving it may be different.
The tenant improvement allowance is an important part of any commercial lease negotiation. This allowance given the landlord enables the new tenant spend money to build out the space so it better fits its specific needs. This along with the length of the lease are going to the be two most significant issues to impact on the amount a tenant pays on its negotiated rental rate.
We like to post helpful real estate tips lists every once in a while. Our last one focused more on low-impact home improvements, but this list involves the so-called “staging” of a home. As is always the case, the idea is to prepare a home and make it appealing enough that the buyer either wants to move in or sees it as a good investment.
Real estate transactions involve the most valuable asset for many of us – our homes – but it can also be an investment property. Either way, part of that transaction process involves transferring the title from one party to another. It is crucial that property sellers and buyers ensure that these matters are in order.
Different initiatives have been designed by the federal government to incentivize private investment in low-income communities. Today, it is Opportunity Zones that are located in a few areas here in Austin, but an estimated 57 percent across the country would qualify. These types of new markets programs have been around for a while but have gained new relevance in the new Tax Cuts and Jobs act of 2017.