Question About Return Of Security Deposit
Try to make this short. Just had a tenant who paid 1/2 of the rent. Sent them out the 5 day notice to pay or quit and they decided to move instead of paying the other half or get evicted. Now today, I just got a stop check on the 1/2 of the rent they did pay. Now since they breeched the lease and did not fulfill the terms of the lease (which is stated in my lease) do I automatically get to keep their security deposit for breech of lease and can I legally charge the 1/2 rent and the fee that I incurred for the stop payment on check above and beyond the security deposit, or do I have to deduct that from the security deposit. Just confused because since the breeched the lease, I was thinking the security deposit would automatically be ours and any damage or unpaid rent would be above and beyond the security deposit. Any help is appreciated. Thanks.
First google your landlord tenant code for your county,state,jurisdiction. You should have that before you rent. In Delaware the Landlord must give a copy of landlord/tenant code to tenants at lease signing. !!
Follow nolo link given above for some links and info. too.
Within the days (state decided... 21, 30, 45) of return of property, you must send to last known address an accounting of charges to include unpaid rent, late fees, bank fees, court fees, property damages. Can also charge for advertising and utilities for broken lease.
Sounds like you can still file for unpaid rent for the month up to the days required to give notice.
Meanwhile you should try to rent asap. You cannot charge rent to more than 1 tenant at a time, but you already are out for the lost rent in sounds.
confirm what local landlord tenant laws..
Every state allows landlords to collect a security deposit when a tenant moves into a property. The purpose of security deposits is to assure that a tenant pays rent on time and keeps the property in good condition. Half of the states place limitations on how much a security deposit can be. In addition, there are usually limitations on how a security deposit can be used by a landlord.
I always understood security went to cover rent, and then damages.
Thanks to all of you for your advice. It definitetly helped me out in deciding what the right thing is to do.
I charge a $50 late fee. If they dont like it I tell them they can leave. In your situation I would try to work something out. Pay 1/2 on the 1st and 1/2 on the 15th.
Even if you do this you are still gettting your money and at least its rented. I would not let it drag on like this. The tenants might say "oh I will pay you next month" and take off one day and you will be out of your rent $$.[ Edited by cashcow57 on Date 11/14/2008 ]
Since a re-rent costs are approximately 2 months and repairs 300. I figure if the rent owed is less than that, it is probably worth to keep the tenant in the unit rather than evict and have a vacancy that is prone to break ins and copper stealing during a down market (Late year).
Once I had been late paying my rental fee. It’s really frustrating because eversince I didn’t fail to pay my rent on time, it’s just that there’s an emergency happened that time. I talked with my landlord explaining my reason and he understand; thank goodness because he’s nice. My rent for the whole month was 2 weeks delayed.
I have tenants that are chronically late. I have tried getting them to give me a little portion in advance until they catch up, but they dont seem to mind paying the late fee every month. I have a few tenants that pay 30 days late every month and I am starting to get tired of having to float that kind of money every month to make my bills. I have an acquaintance that actually gets his tenants to agree to sign an agreement where his rent is autodrafted from their account every month. This seems to be working well for him and he is getting his rents on time with no issues. I am actually exploring doing this now. I think this should eliminate most if not all late rent issues.
[ Edited by pstabile on Date 12/12/2008 ][ Edited by pstabile on Date 12/12/2008 ]
Are you saying that the tenants are paying rent a month late, that is, they pay from the month before?
Quote:
On 2008-12-12 00:19, pstabile wrote:
I have tenants that are chronically late. I have tried getting them to give me a little portion in advance until they catch up, but they dont seem to mind paying the late fee every month. I have a few tenants that pay 30 days late every month and I am starting to get tired of having to float that kind of money every month to make my bills. I have an acquaintance that actually gets his tenants to agree to sign an agreement where his rent is autodrafted from their account every month. This seems to be working well for him and he is getting his rents on time with no issues. I am actually exploring doing this now. I think this should eliminate most if not all late rent issues.
<font size=-1>[ Edited by pstabile on Date 12/12/2008 ]</font>
<font size=-1>[ Edited by pstabile on Date 12/12/2008 ]</font>
Renting a room or having a roommate, is not really an investment move. But you basically sign a standard rental agreement, with all of bathroom, kitchen, yard use polices.
Craigslist works well in many cities. Dont get to caught up in the long lease in that situation, its extremely easy for EITHER of you to break a roommate situation. But this isnt an investment move, so dont waste your time trying to get too formal.
Good luck with your roommate!
It can be nasty. A roommate stop paying her share in it was going to have top be a full blown eviction.
My investment partner and agree to pay her $800 in 1st and security to get her to leave.
It was very awkward for that week or so.
Be sure to know your local codes. If rental permits are required, expect that, even if you rent to "friends," at some point someone will object to your running a rental without a permit and may use that to weasel out of paying rent, after the fact of course.