With hundreds of thousands of landlords across the United States, there are few tenant issues that haven't been encountered by someone, somewhere, at some time. And out of those experiences come new lease clauses.
At the very least, rental agreements or leases – terms we use interchangeably here – cover dates, rent and security deposit amounts and who pays utilities. Clauses modify and expand those basic terms, just as they do in any contract. A clause can be a short sentence setting out a rule about parking. It can be a complete addendum that lists requirements, and any no-nos, for the handling of trash and recyclables.
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You gathered a pile of applications for your rental property. You narrowed it to several finalists and, after screening a few backgrounds, you finally settled on the best candidate for your next tenant.
Now, that tenant is backing out of the lease at the very last minute. What should you do, besides tearing your hair out?
It depends on whether or not the tenant signed your lease agreement, and whether you… Read More »
Property management revolves around legal contracts – purchase agreements, loans, leases – so, the law is integral to every aspect of the rental business. Usually, after the rental property is purchased, most “contract time” will be spent on writing strong leases. A good lease that meets state laws provides protection from tenants who mistreat the rental, fail to pay utility bills or stop paying rent.
However, even the very best leases get tested.… Read More »
How many times have you heard that proposal being made among friends? It is a living arrangement that once was mostly reserved for college students, graduates and other young adults who wanted to save on rent until they moved into more permanent lodgings. Now, it’s an increasingly popular option for 30-something singles and older adults who want to cut living expenses.
The financial advantages seem obvious; yet, are today’s roommates completely thinking things… Read More »
It has been more than five years since the federal law on assistance animals got its last major revision; yet, landlords continue to send questions and comments on the topic to our chat, email and online forums.
Admittedly, it was a dramatic shift, requiring rental property owners who had traditionally banned dogs and other animals to accept tenants with assistance animals. Even landlords who welcomed pets have been scratching their heads over new… Read More »