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13 November 2024 | 4 replies
Even if the tenant can’t pay, it sets the expectation and documents the issue.Small Claims Court: If the tenant refuses to pay, you could take them to small claims court, where you can seek repayment without needing a lawyer.Security Deposit: If the tenant has a deposit, apply it toward the damages.Consider Eviction: Given the arrears and damage, eviction might be a last resort to prevent future losses.Talk with your property manager to create a plan that minimizes further risk.
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14 November 2024 | 6 replies
If someone rents before Dec. 31st for next year, even if they only put a partial deposit down now, the tax does not apply to them.
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14 November 2024 | 8 replies
I do two things: 1) I put specific language in my lease agreements that I need 30-days notice for early termination and 2) I also put language in the agreement that the security deposit can be kept if the renter terminates early.
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17 November 2024 | 33 replies
The letter confirms the amount of security deposit and the "paid through" date for rents.
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18 November 2024 | 14 replies
However, they will pay a double deposit and some other fees.
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13 November 2024 | 14 replies
Once you move forward with someone you have vetted and feel comfortable with co-living, you can use the message templates to inform your tenant, upload your lease for e-signing, and collect a deposit and rent.
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14 November 2024 | 19 replies
I used furnished finder and keycheck to find tenants, screen them, and collect rent/security deposits.
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12 November 2024 | 8 replies
This needs to be highlighted in the lease and acknowledged by them.Security Deposits: You can’t use their security deposit for routine cleaning, but if they leave things in bad shape beyond normal wear and tear, it’s fair game to deduct cleaning costs.I’d start by having a straightforward talk with them about the importance of keeping things clean for health reasons and property preservation.
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19 November 2024 | 111 replies
With really bad credit I do require (in addition to first month and security deposit) 1/2 to a full last month's rent and/or a good honestrenter.com score.
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18 November 2024 | 35 replies
Damage is always on the tenants and comes out of their deposit.