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renters insurance covers damage done by tenant and their guest.
WRONG! It covers IF the home catches fire ins will put tenant up in Hotel til LL can fix or they find a new place [limited time frame] Tenant Robbed will help replace items. WILL NOT Cover damamge Tenant causes! Thats why Security deposits are required.
WRONG! It covers IF the home catches fire ins will put tenant up in Hotel til LL can fix or they find a new place [limited time frame] Tenant Robbed will help replace items. WILL NOT Cover damage Tenant causes! That's why Security deposits are required.
kati if tenet has 50 gal fish tank that bust renters insurance will pay if the water goes down stairs in another apt same if they over flow sink or tub. will pay damage repair trust me on this one. mine even states it will if my kid over flows tub and makes celling drop in apt down stairs so yes it will pay tenet damage
Employment letter is too restrictive, IMO. Nobody wants to get their supervisor or HR into their personal business.
You should perform employment verification given a tel# contact that is provided by the renter on the app. It's usually HR. You can also verify a paystub. I think paystub makes more sense than W2 because paystub is more recent. W2 can be from employment that ended 8 months prior.
Requiring 2 references is being too picky.
What is prior renter owned a home and hadn't had a landlord in 20 years? Would you turn them down if no landlord info to provide, if you could verify that they owned home(s)?
IMO, forcing renters insurance is too restrictive. Some folks are willing to take the risk of walking away from their furniture/clothing if there was a fire or something. And they have enough money to afford a hotel if the rental was damaged from fire.
I would pass on your rental even with great credit and income/ability to pay. Actually, I passed on a rental that required rental insurance and chose a more expensive rental that didn't require it. Just didn't want the hassle of another insurance policy to deal with and didn't want someone else to tell me that I needed to insure my junk furniture that I didn't care about.
Renter's insurance is a must, and you may want to specify the amount. It protects you also if there is a problem.
Pets: you decide, I love pets but would not allow anyone in my rental unit with a pet. With new carpeting costing over $3000, new kitchen floor at $1000, etc--would not take a chance based on my experience with renters. Too many of them will be gone all day and that means your carpet will need to be replaced based on having a dog. $250 pet fee is nothing based on the damage a pet can cause. I also put into my leases NO Pets and a penalty (increased rent) of $200 per month if a pet in housed in the apt. You also need to have a Rider to the lease. Most lease are not specific to what you need to protect yourself. My rider is 2 pages with about 15 items, including things like no deep oil broiler in the kitchen, no storage of any items that contains gasoline, must notify landlord if vacant (ie vacation) over 10 days, $50 late payment penalty per day after the 5 day due (no one is late now), $75 return check penalty (most standard leases say $25 from years ago--banks are charging $50)--and requirement that if a check is returned all future checks must be certified, all residents are listed on lease and not guest can stay more than 10 days without permission (that avoids you renting to 2 people and finding out there are now 5 people staying), etc ,etc.
Renter's insurance is a must, and you may want to specify the amount. It protects you also if there is a problem.
Pets: you decide, I love pets but would not allow anyone in my rental unit with a pet. With new carpeting costing over $3000, new kitchen floor at $1000, etc--would not take a chance based on my experience with renters. Too many of them will be gone all day and that means your carpet will need to be replaced based on having a dog. $250 pet fee is nothing based on the damage a pet can cause. I also put into my leases NO Pets and a penalty (increased rent) of $200 per month if a pet in housed in the apt. You also need to have a Rider to the lease. Most lease are not specific to what you need to protect yourself. My rider is 2 pages with about 15 items, including things like no deep oil broiler in the kitchen, no storage of any items that contains gasoline, must notify landlord if vacant (ie vacation) over 10 days, $50 late payment penalty per day after the 5 day due (no one is late now), $75 return check penalty (most standard leases say $25 from years ago--banks are charging $50)--and requirement that if a check is returned all future checks must be certified, all residents are listed on lease and not guest can stay more than 10 days without permission (that avoids you renting to 2 people and finding out there are now 5 people staying), etc ,etc.
lol, why don't I just rent from the county jail? It would be less restrictive.
Actually jaybb has probably just learned from experience. There are things you have to put in a lease as someone in the past has taken advantage of it NOT being in the lease. It looks silly and restrictive to normal people, but it has to be in the lease to get the abnormal out.
Actually jaybb has probably just learned from experience. There are things you have to put in a lease as someone in the past has taken advantage of it NOT being in the lease. It looks silly and restrictive to normal people, but it has to be in the lease to get the abnormal out.
The late and NSF fees are not unreasonable. It's the other stuff that's a bit absurd. But I've already gone once-around in this forum about restrictive terms in leases and I don't have the energy to do it again.
Yep, unless you're renting a tenement or a slum, first, last, and full to 1.5x security is pretty standard.
It sucks for the renter trying to come up with thousands of dollars up front, I will say. Especially when a move comes a bit quicker than one anticipates! For example, last August I interviewed for a new job in another state. I was offered the job on August 31, for a start date in mid-December. So I thought I had three months to save up some money. But then the employer asked me to start at the beginning of November. There was some serious scrambling going on to pull together deposits, let me tell you! It's tough when you're moving from a job where you're living almost paycheck to paycheck trying to save. Heck, the whole reason to take the new job is to be able to save! Oh well, we all find a way to manage I guess.
I'm curious about your take on employment letters. When I was looking in the fall, I had proof of current employment, but I was relying on the employment letter to get me a better rental based on a higher income. Would you not have taken that offer of employment, or perhaps called to confirm the offer?
I would not take an out of state person. I live in a townhouse development and most of us are owners and have lived here for quite awhile. I want someone who plans to stay for sometime.
Renter's insurance is a must, and you may want to specify the amount. It protects you also if there is a problem.
Pets: you decide, I love pets but would not allow anyone in my rental unit with a pet. With new carpeting costing over $3000, new kitchen floor at $1000, etc--would not take a chance based on my experience with renters. Too many of them will be gone all day and that means your carpet will need to be replaced based on having a dog. $250 pet fee is nothing based on the damage a pet can cause. I also put into my leases NO Pets and a penalty (increased rent) of $200 per month if a pet in housed in the apt. You also need to have a Rider to the lease. Most lease are not specific to what you need to protect yourself. My rider is 2 pages with about 15 items, including things like no deep oil broiler in the kitchen, no storage of any items that contains gasoline, must notify landlord if vacant (ie vacation) over 10 days, $50 late payment penalty per day after the 5 day due (no one is late now), $75 return check penalty (most standard leases say $25 from years ago--banks are charging $50)--and requirement that if a check is returned all future checks must be certified, all residents are listed on lease and not guest can stay more than 10 days without permission (that avoids you renting to 2 people and finding out there are now 5 people staying), etc ,etc.
Good stuff.
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Especially when a move comes a bit quicker than one anticipates! For example, last August I interviewed for a new job in another state. I was offered the job on August 31, for a start date in mid-December. So I thought I had three months to save up some money. But then the employer asked me to start at the beginning of November. There was some serious scrambling going on to pull together deposits, let me tell you! 
