All Forum Posts by: Lyndsey Keller

I'm trying to get familiar with Ohio Laws for tenants/landlords. The resource I'm using is this: http://codes.ohio.gov/orc/53 .....Is there another site/place to look? Anywhere to give specifics, or explain in plain English what some of this means? I'm looking for specifics such as late fees, days to notice of termination, days to notice of property entry, etc.

Can I steal this and put it at the top of my lease agreement? LOL

Oh, I never thought about that! Well, we will (more than likely) have just the one (for now). I will admit that I may have been bitten by the real estate bug, being totally obsessed with research and starting to eyeball properties I've never noticed for sale before....

I've been researching the different online payment methods (erentpayment, sparkrent, etc) and the other methods used to pay rent. Do you put in your lease these different options and LEAVE THEM AS OPTIONS to the tenant, do you let them choose the way and then it must remain that way, or do you specify exactly which way a tenant must pay?

I was thinking it may get old if one month you received an online payment, the next month a payment sent to a P.O. Box, the next month something else....never knowing where/how the money is being sent.

Basically, how much freedom do you give when it comes to them choosing the payment options?

As far as the handicapped, what if someone in a wheelchair wanted to rent my house, but there's no access due to stairs? Would I HAVE to add ramps? Or would that be up to the prospective tenant to ask for it, offer to have it built, etc?

What are the protected groups? Obviously races, religion, what else?

I was thinking of the same thing, NOT renting to family/friends. We still haven't 100% decided to rent, but we're already getting inquiries from family and friends, interesting in renting. Right now I've just said we currently aren't renting, but when it comes down to actually renting, I'm going to feel awkward saying "no family". Better to feel awkward now than later when issues would arise, though, right?

Does anyone rent to family/friends? Do you NOT on purpose? How do you avoid it without discriminating?

I've been doing a lot of searching and reading lately on the forums, and I have 2 concerns about the application/screening process.

1) I had never even thought to have an application fee. I've been asking around, and no one around here has ever had to pay to apply, some haven't even filled out an application! I'm afraid that if I ask for an app fee, people in this area are going to look at me like I'm nuts. But at the same time, I WILL be doing credit/background/eviction checks, and the costs will add up....I know that if I was looking for a place to rent, I'd be leery about giving an app fee. I didn't see anything in Ohio's laws about this either. Is this legal here?

2) I was reading about the whole income verification letter/form and how some companies want to be paid to send them to you, etc. This sounds expensive and like a long-process. Why can't you just ask the prospective tenant to bring the 2 most current pay stubs with them to the showing? Is that tacky?

My husband was talking with the owner of about 30 units that does business with him. He mentioned something along about the interest on the security deposit. The owner told him that he's RARELY ever had to return a security deposit/interest, so it won't be a big issue like I'm reading into it.

Does everyone typically end up keeping your security deposits? How often would you say the full amount, or almost the full amount is returned to the tenant?

If you haven't already noticed, I'm new here. You will probably be getting a lot of questions from me. My husband and I have been trying to sell our home for over 6 months with not much interest. But lots of inquiries as to if we'd rent. We are seriously considering it now, and I'm trying to get all of our ducks in a row before we jump into the deep end.

I've been reading the Ohio Landlord and Tenant Laws. And I have a question about security deposits.

5321.16 Procedures for security deposits
(A) Any security deposit in excess of fifty dollars or one month's periodic rent, whichever is greater, shall bear interest on the excess at the rate of five per cent per annum if the tenant remains in possession of the premises for six months or more, and shall be computed and paid annually by the landlord to the tenant.

We're planning to charge $650 for rent and from what I've read, the security deposit should be about the same as one month's rent, so a $650 security deposit. We are also planning on a one-year lease. So, let's assume the lease is up after a year. Interest on the deposit would be $32.50. If I've found the golden tenant and have no need to use the security deposit for damages, They would then receive their $682.50 ??? What if the tenant decide to renew for another year? I pay them the $32.50 and hold the deposit for the next year?

What if I have to use half of the deposit for repairs? How do you compute the interest then? Or is it only if you don't need all of the deposit? Or do you just apply the remaining deposit/interest to the last month's rent?