Home » Articles posted by Kristin Rosan, Madison & Rosan, LLP (Page 2)

Posts By: Kristin Rosan, Madison & Rosan, LLP

Managing Vacation Rental Homes

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With the rise of vacation rental home websites, like Airbnb and others, many have sought to expand their practice to include the management of vacation rentals.  There is a difference between a vacation property management and traditional property management.  One difference is that a vacation rental is for a short-term (usually a week) while a… Read more

Dying with Real Estate

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Much of estate planning is tailored to those items that can pass outside of probate and those that cannot.  An example of something that can transfer outside of probate is real estate. Others include insurance proceeds, investments, and bank accounts.  Upon the death of the decedent, these items will transfer to previously named beneficiaries, notwithstanding… Read more

Property Management: The Worst Mistakes You Can Make

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Over the last year, the Ohio Real Estate Commission has seen a pattern of certain types of cases that result in the discipline of a real estate licensee’s license.  A review of these property management cases and associated conduct can aid licensees in being sure they are steering clear of those activities that are seeing… Read more

Can a Trespasser Become a Property Owner Through Occupancy?

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An adverse possession action will result in a legal owner of real property having to forfeit their ownership interest to another, without compensation.  An example would be an incorrect fence placement that results in the user of property owned by another ultimately becoming the rightful owner of the property by adverse possession. In order for… Read more

5 Must Know Tips for a Residential Property Disclosure Form

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The Residential Property Disclosure Form (RPDF) is the source of many questions, ranging from who must complete it to how it should be completed. Here we’ll answer some of those questions and provide best practice tips for agents when dealing with the form. 1. Know what type of property requires the RPDF to be completed… Read more

Real Estate Advertising Rules Affected by Division-Issued Drafts

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The Ohio Division of Real Estate has issued proposed changes to 35 rules, the adoption of 5 new rules, and the rescission of one rule. Some of the rules are directed at implementation of H.B. 532, which became law in April of this year. The rest are part of a 5-year rule review process each… Read more

What Happens When Tenants Escrow Rent

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Attention all landlords and property managers! There are consequences for failing to keep a rental in good repair or otherwise abide by the terms of the lease. Under certain circumstances, a tenant may escrow rent with the county clerk of courts rather than pay the rent to the landlord. The tenant can withhold rent, if:… Read more

Representing Buyers of Properties with a Homeowner’s Association

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With Baby Boomers retiring and Millennials entering the real estate market, more buyers are purchasing condominiums or properties with a homeowner’s association. These buyers are looking to avoid the routine maintenance and upkeep that comes with owning a home. These properties are subject to additional restrictions of which buyers should be aware. Below are some… Read more

5 Essential Contract Clauses to Have on Hand

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Most brokerages use form purchase agreements supplied by their local Board of Realtors. Many of those forms have been updated over the years to include the most frequently used contingencies. Namely financing and inspection contingencies. However, in a hot and competitive real estate market, clients are seeking to have other clauses added to their purchase… Read more

Can You Lose Your License for a “Crime of Moral Turpitude”?

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Most licensees know that their license can be in jeopardy if convicted of a felony. What about a misdemeanor? Better yet, what if that misdemeanor involves a crime of moral turpitude? Real estate license law contains a similar provision to other licensed professions. It allows the Real Estate Commission to impose discipline towards a licensee… Read more

Is Your Real Estate Team Violating Federal Law?

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We are all familiar with the idea of a real estate team. These groups of several or more agents provide efficient and coordinated real estate services to clients. Many teams hire personnel (licensed or unlicensed) that handle various phases of a transaction. Anything from marketing to showing. They also act as the transaction facilitator or… Read more

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