Profile picture for costa34

im renting a house in eastampton and my landlord was charging me 3000.00 is that what his mortgage

how can i find out what he really is paying a month. im being charged 3000.00 first year and my last 2 years i have been paying 2500.00
  • March 09 2011 - Eastampton
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Answers (3)

Profile picture for wetdawgs

That puts a whole different slant on the question.  $16,000 down suggests you were hoping you were in a rent to own situation, rather than a regular rental.   If that is the case, you should have a written signed contract (vetted by a lawyer) stipulating the details of what happens to your deposit if you leave.   In the contract, it will also describe what portion of the rent is going to the purchase price, the fate of these dollars if you leave, and when you have to actually come up with your own funding. 

Or, if $16,000 was a typo and and you meant $1,600, then the terms for return of your deposit money should be in the lease agreement.  Breaking the lease mid - term could certainly cause you to lose your deposit.

  • March 09 2011
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Profile picture for costa34
i put 16000.00 down on this house when i moved in. if i leave i don't know if i lose the money.
  • March 09 2011
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Profile picture for wetdawgs

An individual's mortgage payments are not public information.  There are many costs associated with renting out houses above and beyond mortgage payments, therefore, you can't judge what a landlord should be charging by his/her mortgage costs.

If you don't like the rent, start looking before the end of your lease and give appropriate notice that you won't be renewing your lease.  Is the current rent competitive with market area rents?
 


  • March 09 2011
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