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26 June 2024 | 2 replies
For example, if the previous last month's rent was $1,000 and the new rent is $1,100, you would request an additional $100 to cover the increase.Update the Agreement: Ensure that the lease renewal includes a clause that reflects the new last month's rent amount.Refund and Repay:Refund the Previous Deposit: You can return the last month's rent from the previous lease to the tenant.Collect New Last Month's Rent: Then, collect the new last month's rent at the increased rate as part of the lease renewal process.Steps to Take:Review Your Lease Agreement: Check the current lease agreement to see if there are any specific clauses regarding the adjustment of last month's rent upon renewal.Communicate with Your Tenant: Inform your tenant about the rent increase and how it affects the last month's rent.
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29 June 2024 | 5 replies
And when you do offer it to them, collect the full deposit within 24 hours.
28 June 2024 | 7 replies
Yes, you can use an attorney to close without using a real estate agent, and they can usually hold the earnest money deposit and distribute funds after closing.
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2 July 2024 | 73 replies
Airbnb gives you far less control, and getting deposits for damages is near impossible.
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30 June 2024 | 9 replies
I see that they don't currently have physical checks (though will send one on your behalf) and it takes 6-7 business days for a check to show up in your account after depositing via their app.
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28 June 2024 | 2 replies
@John Williams politicians at all levels of government are taking away landlord property rights to protect slum-tenants.We'll soon be like Ontario, Canada where they can't charge application fees or security deposits and it takes 12 months to evict a tenant.Unfortunately, landlords are too cheap to make political donations to stop the madness:(
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28 June 2024 | 12 replies
We have ended up being the latter a couple of times in 7 years because we started off trying to be helpful, but have put policies in place to avoid it:Our rule of thumb is that you can’t be behind by more than your security deposit.
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28 June 2024 | 16 replies
She now has a stable job with the city and offered to pay double the security deposit if I would consider their application.
28 June 2024 | 13 replies
Once you are out, we will inspect to verify there's no physical damage to the rental and refund your deposit immediately.
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29 June 2024 | 6 replies
The cost to move is expensive between security deposits, moving costs, etc.