Residential Property Leases With Zero Down In King
Description
Form popularity
FAQ
Apartment complexes can provide impressive returns if managed well. Profitability depends on several key factors that investors must consider. These include location, market conditions, and effective property management.
For a contract to be legally binding, the parties signing the agreement should be of legal capacity. Meaning the individual should be capable of understanding what they are agreeing to. Lack of legal capacity makes a contract null and void.
While it's possible to have a lease with a $0 rent amount, there are several factors that can affect the validity of a lease.
Loss of Employment, Change of Employment, Job Transfer, Death in the immediate family, Long Term Illness, Partner or Roommate Breakup, or maybe even Lack of Maintenance by the owner, No Heat or Air Conditioning, Horrible Neighbors, or any other reason imaginable. The actual reason is secondary to the situation.
If both parties want out of the agreement, that may be achieved by signing a Mutual Rescission and Release Agreement. The Mutual Rescission and Release Agreement serves to render the original contract null and void and places the parties back to their original positions before they entered into that first agreement.
What makes a contract null and void? The subject of the contract is illegal. The terms are vague or impossible to fulfill. Lack of consideration. Fraud.