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Showing posts from July, 2014

HOW TO AVOID A HUGE MOVE-IN MISTAKE

The function of a security deposit is to provide some assurance that a tenant will return a rental property to its original state (or pay for any necessary repairs). However, one common mistake will diminish the property owner’s ability to apply deposit deductions.

Let’s say that you have a verbal agreement with a tenant that, as landlord, you will repair a garbage disposal, clean the carpets and apply a fresh coat of paint to the bathroom. The soonest that these repairs can be made is one week after the desired move-in date. Upon occupying the unit, the tenant takes photos which highlight its current state of disrepair. You just lost the ability to collect full reimbursement for damages from the security deposit. When the lease expires the tenant has a justifiable reason to refuse deposit deductions, as they can fairly argue that they returned the unit to its original condition. You may very well have upheld your verbal agreement, and the tenant benefited from the repairs made to the…

CITIES WHERE RENTING IS SMARTER

In some markets it is more logical to rent than to buy a home. Due to the amount of time it would take to break even on a home investment, and considering median home prices as compared to average rent amounts, some cities offer the more affordable option to the renter.

If you do not plan on staying in a given location for at least 2.5 years, you should consider renting…especially if you are living in one of these cities:
-San Jose
-Seattle
-Denver
-San Francisco
-Colorado Springs
-Phoenix
-Mesa
-Minneapolis
-Albuquerque
-New York
-Boston
-Virginia Beach
-WashingtonD.C.
-San Diego
-Honolulu
Information sourced from Zillow. Please visit www.erentalservicesinc.com for more useful rental and property management resources.