All Forum Posts by: Steve Nowak

Members of the HOA are the owners, not the tenants. The owners are responsible for ensuring that their tenants are familiar with and comply with HOA rules and regulations. The owners are responsible for the HOA fees, and owners should take those fees into account when determining the rent.

Look into a liability waiver / indemnification clause, enforceable for your state.

How is the rental market there?  Maybe low security deposits are a way to attract more tenants.  Or, maybe the landlords make up for in in other ways, such as move-in and/or cleaning fees, last month's rent, etc.

I am not a lawyer, but it seems like option "B" would make the tenants liable for rent until the property is re-rented, or until the lease ends (if the property isn't re-rented before then).  Option "A" lets you change the termination fee, and then the Tenants are basically off the hook.

I don't, but does your lease prohibit the tenants from being a nuisance to neighbors, and require them to comply with applicable laws and ordinances?  If so, you can refer the tenants back to those provisions, as well as to any specific noise restrictions the city or town has in place.   Also, check out some of the websites for colleges in the area.  They might have sections on student housing that include restrictions on parties, etc.

Check the laws of your state before making insurance a requirement.  Here's some advice regarding Massachusetts (a tenant friendly state):

http://massrealestatelawblog.com/2012/03/15/can-massachusetts-landlords-legally-require-that-tenants-buy-renters-insurance/

I include the following: Tenant understands that any judgment or collection activity concerning Tenant’s default on rent payment could adversely impact Tenant’s credit rating.

As someone else recommended, be sure to familiarize yourself with your state's landlord/tenant laws.  What's valid in one state may not hold up in another.

Nancy, did the lease set expectations as to how clean the tenants had to leave the apartment? 

To landlords who have been involved in an eviction proceeding, how much did it cost you in attorney fees?   I am asking for the purposes of contingency planning. (I will consult with legal professionals in my area as well.)

Thanks!

I meant to include the link for the information above: http://www.nolo.com/legal-encyclopedia/north-carol...