All Forum Posts by: Karli F.

That's a great idea! Thank you.

Current lease has size limits for both but it's time to reconsider- are size limits enough or scratch them all together?

@Mary M. In Minnesota, I'm sure it's 1% interest for security deposit and only the security deposit. They can't make you pay out interest on a rent payment.

Yes, I would not use prepaid rent for damages! Not allowed in my area and just doesn't feel right. Thank you all for your advice! I had a feeling most would say to hold on to it, just needed to rationalize it again. 

Really appreciate the advice! @Adam Martin I hadn't thought of it that way. Great advice! I did also take a damage deposit and pet deposit. Having leverage is always a plus and if they fall behind, can be used for that. They didn't ask or bring it up at all... was just a thought.

Hey guys, I'm in Minnesota and my renters did not meet the credit score requirement so they agreed to pre-pay the last month's rent as assurance. They are coming up on a year of timely rent and have been great tenants and with COVID and everything, I have been thinking about refunding the last month's rent. I'm looking for recommendations or advice on whether to do so or not. Thanks in advance!

Thank you James.  I see what you mean and have decided to keep it simple.

I would like to resurface this question.  I just listed my first rental (single family home) and I am receiving many requests to fill out an application.  I am using Cozy.com which charges 40.00 and is non-refundable.  It's been 20 years since I rented myself and I have a poor memory.  If anyone can share some best practices, it would be helpful.  Is it normal for a renter to apply knowing they may not qualify?  I've had a couple who say they can't move in until a month later but still want to pay to apply... I can't imagine advising to not fill out an app, but at the same time, don't want to waste their time and money.  Also, first-come, first-serve or best qualified?  Any thoughts?

I have a similar question... I'm in Minnesota; can I put in the lease that I would cover water up to a certain amount (a reasonable amount for the home size) and any overage would be charged back to the renter?

I need to refinance a house to remove a co buyer but I don't want to have a new 100% loan for the balance owed on my credit. Does it make sense to refinance for 20K more than amount owed, then applying those funds to the new mortgage?  For example, amount owed is 195K; new loan would be 215K with 20K out, but the 20K would be paid back to the loan.