General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 6 years ago, 07/22/2018
Tenant pays first $100.00 in maintenacne???
I was having a chat with a co-worker over Slack about ways to keep costs low in rentals. He was in a different state than me, and had years more RE experience than I have. His background was acquisitions and purchasing large tapes of properties. He said something that struck me, and I didn't really want to fact check him in the group setting. So I'll bring it here.
"Write it in your lease's that the renter is responsible for the first $100.00 of any issue. You can put in language that negates the charge should it be a major CAPEX like an HVAC. This prevents erroneous maintenance requests, or a tenant trying to get you to upgrade the property through work orders. Before occupancy, you need to have a thorough inspection (with pictures) done in person that they sign, along with a healthy deposit (no $99 move in specials). That will keep them from calling every time the floor squeaks, and taking care of things a little bit better since they know they can't pull the 'it was that way when we moved in.'"
What do yall think of that? It seems smart, but is it legal?