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I have an apartment that I am going to rent out to grad students. They do not know each other and will be moving in and out at different times. Usually I rent to a group of students and when they move out as a group, I get the apartment cleaned and fixed up. I will use some of their security deposit to return the apartment to the condition it was in when they moved in. If I have grad students moving in and out at different times I'm not sure how to go about doing this. If 3 students live there and 1 moves out how do I know if they have caused any damage etc. Also, I wont be able to assess the cleanliness of the apartment when they leave since others will still be living there. It seems like I will get stuck paying to get it cleaned and fixed up. Any advice?
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"I don't understand. But I don't care, so it works out."
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I agree with Flamingo. You can't deduct "usual wear and tear" from their deposits, only damages. You can't expect the place to be in the exact condition it was when they moved in - that's what rent is for. Renters don't vacate a property leaving it in the exact same condition it was before they rented.
I would think you have every right to go in when one leaves the lease and another grad student comes in to sign the lease. That's just expected - a walk through with a new tenant.
And yes, when the apartment becomes completely vacant again you will have to clean it up (reasonably) and repaint (reasonably) and recarpet (reasonably) for the next tenant. Usual wear and tear being kept in mind.
I only use security deposits to cover damages and cleaning to bring the apartment back to the level of clean it was when they moved in. I have been a landlord for 10 years and don't have a problem with security deposits. I decided to change one of the floors to just grad students. The 11 month lease won't work as the grad students are 3-4years. If I rent to two students that are 4 years and then one that is 3 years then when the 3 year students moves out and I get another 3 year student in....it will just go on forever and I won't know who caused what damage. I know there are landlords that do this but maybe they just never get their places cleaned. I don't see that as an option so maybe this won't work for me.
Do the walk thru, and look for damages, extreme filth. Tell all people on lease that x amount is being charged for damages.
Do a walk thru when new person is moving in, and document conditions.
Assume that, when last person moves out, they may get hit for cleaning fees.
I have an apartment that I am going to rent out to grad students. They do not know each other and will be moving in and out at different times. Usually I rent to a group of students and when they move out as a group, I get the apartment cleaned and fixed up. I will use some of their security deposit to return the apartment to the condition it was in when they moved in. If I have grad students moving in and out at different times I'm not sure how to go about doing this. If 3 students live there and 1 moves out how do I know if they have caused any damage etc. Also, I wont be able to assess the cleanliness of the apartment when they leave since others will still be living there. It seems like I will get stuck paying to get it cleaned and fixed up. Any advice?
Three of my rental properties are under-grads who are of all years in college and move in/out/remain/leave. Two have 8 tenants each (4 bed townhouse-style) and the other has 5 tenants (SFH). Neither of the properties ever "clear out" completely. My other properties tend to be groups of the same aged/year & move in/out together.
I don't do month to month, so at the end of every lease all old and new tenants re-sign ONE new lease for the upcoming year. The properties gets inspected at that time for damages. If any deductions are made, as I only accept one security deposit & one rent check, that gets handled by the tenant whose name the security deposit account is in. Interest has to be paid at that time as well (by law) and I'm not going to keep track of who gets 3 years of interest, who gets 2 years, etc. by the time they move out. SO much easier this way from an accounting standpoint.
You might want to check with your city/town if you can rent rooms & have individual tenant leases (if that's what you are doing on this particular floor of your rental property) - can't do that in the city my rentals are in. That would be considered "boarding" and you would need to be approved & licensed as a "boarding house" for that.
When it comes to cleaning:
Depends on how you are running that floor of grad students. I don't know if how I deal with it all would benefit either you, your exiting tenants or your newbies if you don't end & renew leases every year.
Yet I'm sure you have a clause in your lease which states that a minimum level/standard of cleaning/cleanliness must be kept at all times & if it is not that the tenant(s) will be responsible for the charges to do so. And this includes while they reside in your property, not just when their lease ends and they move out.
When one of your tenants moves out and another moves in & I'm sure you are already there to see the condition of the room the tenant moved out of, the unit/floor in it's entirety, & to make sure all is "good" for the newbie moving in, yes?
So you can judge the condition "of" at that time.
I'm sure that you walk through your unit with your new tenant & have them sign a waiver where he/she accepts the unit "as is"...and especially if you aren't sure how to get a deep cleaning in/who to charge without eating the cost. Yes?
If not, look in to the legality of it all & what you can and can't do.
You might have much more leeway than you think....
I only use security deposits to cover damages and cleaning to bring the apartment back to the level of clean it was when they moved in. I have been a landlord for 10 years and don't have a problem with security deposits. I decided to change one of the floors to just grad students. The 11 month lease won't work as the grad students are 3-4years. If I rent to two students that are 4 years and then one that is 3 years then when the 3 year students moves out and I get another 3 year student in....it will just go on forever and I won't know who caused what damage. I know there are landlords that do this but maybe they just never get their places cleaned. I don't see that as an option so maybe this won't work for me.
I looked at a complex in Chapel Hill, NC when I was moving to North Carolina, that rented to a lot of Grad students.
Instead of Deposits, they instituted a flat fee and termed it as a 'cleaning and turnover fee' (I think it was 25% of rent.) So, the amount was easy enough to swallow and it worked out alright. A lot of those places might have someone that lives there for 3 years, someone that lives there for one semester, someone that lives there for nine months, etc, and so it probably really worked out to the LL's advantage.
If youre worried about permanent dirt spots, there are lofty areas around here for college kids and they sign a lease that states that cleaners will go through every quarter and carpet clean and deep clean what typical young college students dont even think of. Maids get steady jobs and landlords get a nice discount and everyone gets their security deposits back. Landlord inspections are also done before the cleaners come. Young adults usually cause heavier wear and tear.
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