All Forum Posts by: Aditya Hejib

@Aaron Montague In my case, on Jan 2016, I will collect $100 difference and put it under Tenant interest bearing Escrow account. is that right?

@Theresa Harris Is there any reference of such on Mass.gov that you can point me to?

Hi,

I have a question specific to Massachusetts law. I just renewed lease for my tenants and with increased rent, I asked them for difference in security deposit. Per Massachusetts law landlords are allowed to take 1 month of rent as security deposit.

However I could not find any reference to if rent increases, do we also collect difference in security deposit? One of the local real estate professional mentioned that landlords are not allowed to collect difference but I wanted to confirm with wider audience if that is the case. I will really appreciate if someone who is aware of Massachusetts law can shed some light on this matter.

Thank You in advance.

Thank You all for your valuable feedback. I did bring it up yesterday and they apologized and decided to pay today. You all did mention one thing which I will always keep in mind. Treating rental properties as a business and taking away emotions out of it. 

@James Galla @Nathan Gesner @Kristian Widjaja

@Charles Carillo appreciate your response. Yes technically they are late by 4 days but I am reaching out to wider audience before things gets out of hand.

@Jaysen Medhurst I appreciate your response. They are (technically) late by 5 days and my lease does mention rent by 5th if every month. But I absolutely agree with you and I will bring it up today. I reach out to wider audience before things get out of hand.

This is a very good lesson and I will enforce the lease and for now will waive the late fee.

I have a situation and wanted to get feedback on how to bring up unpaid rent and other things when Tenants are going through a lot..

To be precise, I have a tenant who is having a baby, their lease has expired and needs renewal. I understand that everyone goes through a crazy phase at some point in life and with medical, new born expenses there will be money crunch. Keeping all these things in mind, I have not discussed anything with the Tenants about unpaid rent and lease renewal. Will it be okay if we bring up the topic? and yes, how to go about it? I am trying to be accommodating and do want to give them a chance because this is the first time rent has been delayed in a year. Does anyone have any suggestions?

Thank You in advance for your time