I frequently hear frustrated landlords complain that “I’ll never see that money, so why even bother trying to go after a tenant who owes me?” Sometimes that is true, but not always. It is almost always worthwhile to make an attempt to collect what is owed to you. By following the simple steps and procedures outlined below you can begin to reduce the amount of money that tenants owe you and ensure that your business becomes even more profitable. The best way to get nothing is to do nothing The only way to guarantee that you won’t get anything is to do nothing. Far too..
I know I didn’t ask if it was ok to get a dog, but I did anyways. What do you mean I can’t keep him…. he’s family! When someone decides to rent out a property they have the right to choose if they would like to allow pets. Simply getting a pet does not mean that you will be allowed to keep it. Talk with your manager BEFORE you bring a pet on to the property to avoid legal consequences.
It is fairly common for people to assume that expenses are not theirs. In property management it is a daily occurrence. Here are some of the common expenses that are the tenants responsibility that are often assumed to be ‘included’ in a rental: Lightbulbs: #1 on this list is definitely lightbulbs. Upon moving in the light bulbs should all be working. The resident’s use of the lights is what causes them to need to be replaced. This is why it is typically the residents responsibility to change them when they burn out. Furnace Filters: Along the same lines as light bulbs, filters become dirty through..
Did you know that your landlord’s homeowner’s insurance policy does not cover any of your personal belongings in case of an emergency? If your fridge goes out, the basement floods or someone breaks in and steals your TV, the landlord most likely won’t be the one paying for your stuff. This is a great reason to have renter’s insurance, which can cover all of your personal belongings depending on your coverage. We often don’t think of having renter’s insurance because as non-permanent residents, it just doesn’t seem like we have that much or that what we have is even worth the money. What to consider..
Most landlords prefer to sign one year leases with their tenants. And for most tenants, living in one place for a year will work with their own schedules as well. But whether you are planning on staying for the entire lease term, or if you already know of life plans that will require a move, it is good to know what the options are for getting out of your contract. Before you sign a lease, make sure to review it and talk to the landlord to understand what the expectations are for getting out of that lease. Are you allowed to sell your contract? What’s..
Don’t send that deposit check! New and experienced renters alike are often victims to rental listing scams. It happens like this: you search online for that perfect rental. You find it and contact the manager/owner about renting. They message you back and tell you to email all your personal info for an “application” or ask you to mail them a deposit check with certified funds. Next thing you know, they have your money and you have no keys. When searching for rentals online, it is very easier for scammers to steal pictures and details about a house to create their own rental listings. If in..
I haven’t paid my rent because I hardly used the home this past month and I will be out of town for a lot of this probably month.
I haven’t paid my rent because actually I don’t feel like paying it.
I don’t have the money for the rent, because I spent it all on Christmas presents for the kids. You don’t expect me to tell my kids they don’t get Christmas presents, do you?
A tenant continually complains that it is cold in their rental property, and insists that the windows and doors need to be sealed better or replaced! When the manager arrives it is truly cold in the home. Upon further inspection he notices that the furnace is actually turned OFF? When he questions the tenant about it they state, “Of course it’s off, do you know how much the gas bill would be if we turned it on ALL.WINTER.LONG?” Needless to say, the windows and doors (and furnace) were just fine, it was the tenant who needed ‘instruction’ photo credit: http://www.freeimages.com/photo/thinking-1237556