Most landlords are unaware that there are laws on where to keep tenant security deposit funds. That’s why it’s important to know how to open an escrow account for security deposit money. A common mistake is co-mingling security deposit funds with other money in the same bank account. In the video below we share how…Read More
Late paying tenants are one of the biggest headaches for a landlord. An experienced landlord will build late fees into their lease and do proper tenant screening to avoid this issue… … however, even the best landlords can still deal with late paying tenants. A question worth asking, is why do tenants not pay rent on…Read More
A common issue that arises from owning and renting out a multi-unit are noise complaints. Our friends over at Avvo recently did a webinar with Zillow addressing common issues between landlords and tenants. The audio file above addresses this question as Avvo’s chief legal officer, Josh King, weighs in with his thoughts. Below you can read the…Read More
Collecting rent electronically is a very attractive option for landlords nowadays, and there are many different ways to do it. However, more tenants and landlords are finding that going paperless actually can include some processing fees and other costs. What to do about those fees and what to pass on, if anything, to the tenant…Read More
It has happened to us all. The car breaks down or you have to make an unexpected trip to the emergency room or you simply miscalculated your budget and suddenly, you find yourself short on rent. Depending on how much money you need, there are some ways to handle the situation or make up the deficit without…Read More
It’s happened to all of us; you lose track of the days and before you know it, your rental payment is a few days late. Fortunately, today’s digital world makes it much easier to put in a standing order for a rent payment and not have to remember to write a check each month. Following are…Read More
Withholding rent is a tactic used by renters trying to negotiate with a landlord. However, just as many tenants often threaten to “sue you” or to “call their lawyer,” the declaration that they will not pay their rent until something gets fixed has no legal standing except for a very few instances. You can diffuse the…Read More
When it comes to tenants not paying rent because repairs to the property are needed, there are two separate situations: repair and deduct, and withholding rent. This article is about repair and deduct, and the topic of withholding rent will be addressed in a future article. The ongoing battle between tenants and landlords finding common…Read More
How much do you charge each tenant as a security deposit? How much can you charge according to state law? Nearly every landlord knows the answer to the first question, but fewer know the answer to the second one. While you’re not required to charge the maximum security deposit allowed by law, you are prohibited…Read More
It doesn’t seem like that long ago I was writing checks at grocery stores and malls. But if you’re like me now, you hate getting stuck behind the person who whips out the checkbook to buy cat food instead of using a debit card. Times have changed since the debit card and most people rarely…Read More
