However, her past credit was good, and her income was good.
She offered to pay us in advance for 6 months, pay a double Security Deposit, and give us pre-written checks for the second 6 months. In AZ, it is illegal for landlords to accept more than 1. After the lease signing, she drafted a letter to us at her own initiative, with a check for the funds to pay for 6 months of her rent, and 6 individual checks to cover the months that followed. But in accordance with the laws in paycheck loan the area, we deposited them, and used them as the rent became due. She takes ownership of the property and treats it like her own.
She also takes care of items that the HOA sends letters about (they send HOA violation letters to both me, and the property) like a roof tile that fell down, a side gate fence that needed painting, etc. She just takes the initiative, and I can just send her funds for paycheck loan the expense (if any) and her time. For larger items, she contacts me right away, and I have it taken care of. She has even been agreeable to rental rate increases over the years.
While she no quick loans with no credit check longer prepays or sends checks, she always pays on time, and usually goes directly to my bank to deposit cash. She is a great example, NOT to convince landlords that they should start throwing caution to the wind and accept credit issue tenants, but rather to open the eyes of some landlords who jump at the opportunity to voice their opinion about a market they may have not yet experienced. So, the maximum sum a California landlord is allowed to accept for move in is a total of 3 months rent. It seems that you cannot collect a certain amount of prepaid rent on month to month leases, however, on long-term lease, for example a one year lease, then that provision does not apply. So, the e z money payday loans maximum sum a California landlord is allowed to accept for move in is a total of 3 months rent. In my experience, it has always been a red flag for a prospective applicant trying to hide something. I have been offered and accepted 1 year payment after initial 1 year lease was up without a problem.
After 6 months or so I have accepted 3-4 months payments at a time without a problem. I did have to return part of a 1 year lease when a tenant was called up to Iraq. Still feel like a newbie, but I have had a TON of tenants over the years. For me credit has been the biggest indicator of tenant quality.
Nice guy, but he was a wreck with his finances and a total pain as a tenant... I had a lump sum of cash and decided to offer my landlord 12 months rent in advance to help my budgeting and to see if the discount I got which would be risk free could beat investing the lump sum.
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The question is, assuming you have more than one applicant do you feel advance payment is a plus. I personally see no benefit to it what so ever considering that legally the money remains the property of the tenant in instant direct deposit loans all situations. If they leave for any reason, voluntary or eviction, the money must be returned. If a tenant offering to pay in advance in some way influences a landlords decision to accept them over another applicant that landlord has displayed very poor judgement.
For those that did accept did you feel that this took away motivation on both sides? Risks are on both sides, for example if landlord fails to make repairs (realistic or not) at the request of the tenant typically a tenant could deduct from rent or withhold. This also allows the landlord to move forward with actions to get the tenant to pay. If money is dispersed upfront both sides lose that leverage.... My experience is a mixture of agreeing to collect up front and denying people who offered this. There are four factors I consider: I have taken prepaid rent from two tenants and denied two others. The two I denied was because the source of income was illegal or they were not paying taxes, which made it illegal. The two I took prepaid rent from were legitimate and I had no problems.
Sometimes prepaid rent should be taken as a hard-no, but if you are able to otherwise qualify the candidate and prepayment is used as additional risk mitigation, I say go for it. I had one tenant that paid a year upfront - a family that just sold their house but wanted to stay in the area so kids would finish school before downsizing. When they moved out, the house was spotless, so i didnt loose much as far as turnover costs.
One of them is still with me after five years and he pays a full year of rent every year in October. The other cases were all people that negotiated a small discount in exchange for paying the entire year in advance. I have a tenant that paid 2 years up front and was and is a great tenant.
After his initial 2 years, he chose another unit of ours that was a little cheaper to pay for the full year. He and payday loan no fees his family is still there and doing very well as our tenants. I know it may not paycheck loan be the norm but this particular situation has worked out great for us.
I am fairly new to land-lording and this is the first time this issue has come up. I spoke with the water department and was told if I sent in copies of the repair bills they would credit the accounts. Does the landlord pay the difference or do they split the cost? As soon as we were told about a leak at both properties we immediately took care of the problem. Looking forward to hearing how others have handled a situation like this. I am fairly new to land-lording and this is the first time this issue has come up.
I spoke with the water department and was told if I sent in copies of the repair bills they would credit the accounts. Does the landlord pay the difference or do they split the cost? As soon as we were told about a leak at both properties we immediately took care of the problem.
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I owned a property some years back over 60 years old with the original plumbing. At a certain point, to get to the leaks, the plumber has to open walls and get to it. I pay the water bills, and of course it affects the water bill.
Should I ask my tenants to share in my plumbing misfortunes? This is beyond them enduring the inconveniences of repairs. In mine, it would be totally inappropriate to charge the tenants. My initial reaction was to pay the water bill minus their usual amount. No, the leak was not due to negligence by the tenant.
My initial response was to pay the bill-I just wanted to get input from more seasoned landlords.
As such, the tenant should pay zero percentage of the extra water bill. I would embarrassed to approach the tenant and suggest she pay for any of the extra water bill. As for water bill that depends on the lease agreement.
If you acted on the notice of repair immediately and the pipe was fixed...
Get the detailed breakdown from water company and go from there. You reacted quickly, how do you know that tenants reported quickly is my thing.
Fair is fair and right is right no matter owner or tenant. No one noticed bad credit installment loans direct lenders the noise of the rushing water or the drop in water pressure or anything else, like a paycheck loan swimming hole in the basement or around the house? Offer to split the difference with the tenant and see what they say. Do you feel it provides sufficient and accurate information? So when I rented my house on Zillow I turned on option to accept applications. I went ahead and ran the persons credit via residentresearch.
I like how resident research approves, declines or says conditional with more deposit. On Zillow I have to look at everything and be the person accepting or declining which puts the liability on me if someone complained that I turned them down. The people I just signed a lease with applied before they even saw the house.
Apparently that had applied to another house but someone beat them to it so the applied their application to my property at no extra expense to them. Does Zillow replace the need for rental applications? I just listed my first property on Zillow and have seen great volume of leads but I am uncertain with the overall process.
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