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We're going to be moving. Our lease is up Sept 1. We put down a non refundable deposit on a GREAT apartment, so I'm not worried about having somewhere to go but of course DH wants to keep looking to see if we can find something amazing in a single family home. (I miss having my own home). Anyway, we'll be ready to own again in about 2 years, so yea.
But I think it's sooo crappy that when renting from a private person, you have to give them ALL your info - credit cards, amounts on cards, checking and savings w/ amounts, car payments, etc. They have NO law to that says they have to tell YOU, the renter if the house is behind on payments, if it's in foreclosure, etc. So if it goes into foreclosure, you lose your $, your house, and your deposit. And they don't have to do anything. Most don't even care b/c they aren't living there anyway.
This happened to a friend of mine. She was paying $2500/month in rent in this amazing place and the owner wasn't making the house payments. It was foreclosed on and she had a few weeks only to get out. Fortunately she makes good money and was easily able to find a place of her own to buy.
I just read that this is happening to families everywhere. Homelessness is up to record proportions b/c suddenly they are finding out that their landlord wasn't paying on the house. These types of landlords need to be criminally prosecuted.
We're going to be moving. Our lease is up Sept 1. We put down a non refundable deposit on a GREAT apartment, so I'm not worried about having somewhere to go but of course DH wants to keep looking to see if we can find something amazing in a single family home. (I miss having my own home). Anyway, we'll be ready to own again in about 2 years, so yea.
But I think it's sooo crappy that when renting from a private person, you have to give them ALL your info - credit cards, amounts on cards, checking and savings w/ amounts, car payments, etc. They have NO law to that says they have to tell YOU, the renter if the house is behind on payments, if it's in foreclosure, etc. So if it goes into foreclosure, you lose your $, your house, and your deposit. And they don't have to do anything. Most don't even care b/c they aren't living there anyway.
This happened to a friend of mine. She was paying $2500/month in rent in this amazing place and the owner wasn't making the house payments. It was foreclosed on and she had a few weeks only to get out. Fortunately she makes good money and was easily able to find a place of her own to buy.
I just read that this is happening to families everywhere. Homelessness is up to record proportions b/c suddenly they are finding out that their landlord wasn't paying on the house. These types of landlords need to be criminally prosecuted.
First, at least in California, there is no such thing as a Non-Refundable Deposit... Property Owners are allowed to charge a "Reasonable" application fee to offset the cost of processing your application.
Second... there is no law that I'm aware of that requires you to provide any personal information to a prospective Landlord... I still know many Mom and Pop owners that only check references from the previous 2 Landlords and Employment.
Third... Renters can and do check public records pertaining to rental properties they are interested in... Just the other day, a co-worker's son found an apartment to rent... but had a bad feeling about the owner.
The co-worker's son stopped by the County Recorder's office and learned that a Notice of Default had been recorded regarding the property...
It all depends on how much effort you are willing to expend...
I know others, and I've done it myself... have stopped and asked neighbors and other renters to find out about how well the owner takes care and responds to problems...
I'm not a Lawyer, but any Tenant can persue a Civil Case against an owner that has defrauded them... we are in uncharted waters and many property owners and tenants are just trying to stay afloat...
Here in VA, you have to also do the application fee. Usually (so far) it seems to be between $30 - $40/adult in the house. That's in addition to the deposit and 1st month's rent that is due.
I'm looking at the standard application as I type.
name, birth, etc.
present address
current employment and salary
previous employment
Other income
how do you rate your own credit
have you ever had a foreclosure, eviction, bankruptcy (all legitimate questions)
do you pay child support or alimony
are you a party to a lawsuit
are you a co-maker of a note
car/card: balance & monthly payments
But I think it's sooo crappy that when renting from a private person, you have to give them ALL your info - credit cards, amounts on cards, checking and savings w/ amounts, car payments, etc.
I don't know any land lord that would want, or need credit card info, and I would be weary of anyone who asks for it. They probably just want to be sure that you can, and do, pay your rent on time but they can get that info when they run your credit check.
Actually, we ask for credit card information now, as well as banking information. It is very nosy and personal, and I was very against it at first, but if you end up in court with a tenant for non-payment of rents, and get a garnishment in your favor, it is legal (in Idaho at least) to collect against wages, tax refunds, bank accounts, credit cards, etc.
We had this happen once and didn't have the information, ended up being out a lot of money because the guy is a waiter and tips aren't included in garnishable wages, so he technically makes under the cutoff each week.
Of course, on a credit card, you can deny the charges, but with a court ordered garnishment, the LL is probably going to win. (Again, this is in Idaho, anyway)
This happened to a friend of mine. She was paying $2500/month in rent in this amazing place and the owner wasn't making the house payments. It was foreclosed on and she had a few weeks only to get out. Fortunately she makes good money and was easily able to find a place of her own to buy.
I just read that this is happening to families everywhere. Homelessness is up to record proportions b/c suddenly they are finding out that their landlord wasn't paying on the house. These types of landlords need to be criminally prosecuted.
NicoleJ - I am sorry that happened to your friend. And glad you + your family are moving into a nice apartment.
I've just found out that another landlord who lives on my street has one of his rental properties scheduled to be sold in the next tax foreclosure auction, if he doesn't pay the city what he owes. A family with small children lives in that house, and I don't think they know anything about the impending foreclosure. The foreclosure auction isn't till the end of October.
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