In the U.S., all real estate transactions. invariably be incorporated in a common software available to real estate professionals: the MLS ("Multiple Listing Service").

NOTHING IS HIDDEN nature of property: surface, mapped location, photographs, specifications, purchase price and subsequent sales - which allows to know the true market value of the property

Broker and Agents All Realtors have access to all properties for sale. If an agent you dangled an "exclusivity" that some would be granted by a seller: attention to the possible pitfalls that can hide a scam. Exclusivity is illegal.

Sales transactions can not be strictly carried out by a broker and agent duly licensed realtor. Any person other than the broker or one of his assistants officially approved can not even show you a property (this does not prevent you to be accompanied by the person of your choice as council).

 

Charges

Expenses of an apartment located in a "condominium" can sometimes be high and amount to several hundred dollars per month depending on benefits.

The reception and security are ensured 24/24 h and the maintenance of common areas and technology watch.

In addition to these traditional services, the co-owners and tenants have full access to free and permanent clubhouse, the fitness room, steam room, sauna, swimming pool, tennis court, a day care and sometimes even a mini-store inside a room Film or private conference, or to the assistance of nurses or doctors on duty there. Simply order the service or to reserve the use with the HOA.

 

Some object times the amount of these charges, but we must nevertheless consider the practicality of all these services "at home", saving time, saving travel and cost they represent if they were obtained outside .

These services are managed by the "HOME OWNERS ASSOCIATION" or HOA - literally Owners Association of the House. This organism is present in the United States in all communities and condominiums. It has legal personality, shall provide the condominium rules and acts as trustee.

Under the sacrosanct principle of transparency in the United States, the HOA is populated in real time by a "Black List" which are worn all federal non-payers and persons who have a conviction for aggravated crime.

When you rent your property, the HOA approved the tenant under the Black List and the condominium bylaws. This will avoid renting to a person deemed unsafe or non grata by the other joint owners. The charges are payable by the owner and are obviously charged rent.

Fees & Commissions

The official commissions are always clearly defined. They are INCLUDED IN THE SALE PRICE OF THE COMMISSIONS ARE STILL REQUIRED THE SELLER. They generally amount to 3%.

You will provide in addition to the notarial fees are 3% of the price paid 

The fee usually amounting to a lump sum of 250 to $ 500.

 

 

So we set up a RENTAL MANAGEMENT AGREEMENT revolving around two axes: the rental itself with all its annexes and compliance with the tax authorities.

In real time and report quarterly registered, we are committed to:

• Identify your tenant in connection with the HOA in the building or community and you submit an application for approval;

• Pay all charges, taxes & incidental tax and insurance premiums on your behalf;

• Ensure that the rents are collected in good time under the lease you sign;

• Turn the sums recorded on the bank account you designate, the United States or wherever you direct.

It should be noted that in cases where the location permits and in accordance with internal regulations issued by the HOA we can consider renting your property part of the calendar year, for you to leave freely available for your use staff at the times that the property would be free of occupation.

You free from care management will cost you 10% of the rent.

You will be charged extra all-time work and / or services requested after quotes encrypted and expressly accepted by you, this is the subject of ad hoc amendments to the main contract rental management.

Hire

The rent is payable (payable in advance). A deposit equivalent to two months' rent is usually required.

The establishment of an inventory is theoretically not necessary, but we recommend it highly. In addition, in most cases it is required by the HOA.

Many tenants assume that their owner's insurance covers the loss of personal property in case of fire, explosion, theft, water damage and other disasters. But it is nothing. Tenants uninsured are therefore at risk: not only their personal assets are at risk, but also their financial security would be threatened in the event of legal action against them for damages caused to third parties (damage to another apartment due to a water leak for example).

The Act requires that the apartments are painted and cleaned from top to bottom at the entrance to the premises and the kitchens are equipped (cupboards, sink, stove, refrigerator, etc.)..

Eviction of a tenant defaulting

In most cases, the approval of a tenant must be approved by the HOA which verifies that the name of it is not focused on the "Black List".

Yet it may happen that your tenant proves faulty. In case of non-payment of rent, it would receive a notice from the third day of the finding of non-payment: the "three days" letter (letter mail in three days - "registered letter"). At that time the process of expulsion is engaged. It is conducted by the Police Force (Office of the Sheriff) after one month. There is no winter as in Europe, or reason for the tenant to remain in the premises (school children, unemployment, age, etc.)..

Regulations may seem harsh, but it is a reflection of the contractual relationship and protect American interests of the owner better than anywhere else in the Western world.

Since two month deposit is required when entering the premises, if you have carefully chosen a villa or an apartment in an area with "zero risk" where the demand for rentals is strong and recursive

 

Tax system

United States, the declaration of rental income received by a non-resident person is MANDATORY. It is controlled by the IRS ("Internal Revenue Service"). So there is no interest for the owner to conceal this income, which could cause problems at the time of resale. The European owner of property leased in the United States must make this statement. We take care of as part of our rental management contract.

The payment of U.S. tax withholding is by (withholding). Under the Convention on the Non-Double Taxation Franco-American (effective December 30, 1995), income received in the United States who have paid U.S. taxes are not taxable in France: the U.S. tax clearance is final of the French tax. It is the same for all countries of the European Union.

The tax rate on net income is about 10 to 15% after all deductions (statements actual costs and not the package). Deductions are many and varied depending on whether you buy in their own name or through a company that you create - you own 100% - that you perform or not construction work or embellishment (deductible) whether you buy "empty" or "busy", etc..