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Cyber Rentals

By Jonathan Bick
May 30, 2006

The Internet has profoundly changed the way real-estate rental transactions are executed, mostly for the better. Besides putting significant amounts of rental information into the hands of potential tenants and allowing virtual tours of available rental properties, the Internet allows prospective renters and landlords to submit rental applications and negotiate contracts online. Properly executed, an Internet real-estate rental application may save time and money for the potential tenant and landlord. Improperly executed, such an application may result in legal difficulties, including unenforceable contracts and negligence claims.

Internet real-estate rental applications, like traditional applications, are either commercial or residential in nature. Residential and commercial property transactions normally are initiated by an application and result in an agreement to create a contractual relationship between the tenant and the landlord, providing space in exchange for consideration. The terms of a residential transaction, however, are normally subject to more governmental regulation than a commercial agreement typically is.

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