Tenant’s Guide to Finding and Getting into a Great Property
Are you a tenant? Would you love a guide on where to look and what to do in order to find a successful property? Do you need information on how to have a great landlord/tenant relationship?
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On the surface, this site is very geared to landlords with titles such as “Strengthen Your Landlord Backbone”. Look further into the site and you will see the awesomeness of the message; that you, the tenant can also enjoy. The whole point of this website is to provide the “knowledge” that can be the power to have a successful and prosperous experience for either tenants or landlords.
So here is that promised guide
First Step- Where to Look for a Place to Live
This article describes all of the places a landlord can advertise their house to rent. This is your map to all of the places you should be looking for your next house.
Top 7 Places to Advertise your Listing
Second Step- Negotiations
We are all human and love to get the best price. Here is some great insight on negotiations-to make sure you get the best price AND start off on the right foot with your landlord. Remember this is your landlord’s business. You want him/her to be profitable. It’s no different than Target, Panera, or any of your favorite places. If they are not profitable they won’t stay in service. It’s the same thing with your landlord!
Tenant Negotiations Made Simple
Do you have a pet? Love the house, but it says no pets allowed? Use these tips to convince the landlord to accept your “furry” family member.
Third Step- Writing that lease
Personally this is the “most” important part to the entire process. Your lease is your “written” contract with your landlord. You and your landlord will hash out ALL of the terms of your lease. This will include the big stuff like price but may also include where you can park your car or put your trash. As you verbally go over the lease with your landlord make sure you fully understand it and that all of the terms that you have agreed to are reflected in the lease before you sign it. If it’s not written it doesn’t count. I have a 14 page lease; don’t let that scare you! Embrace it! As a landlord I have found that it makes everyone’s life easier!
Let’s dive a little deeper into two “controversial” clauses that might exist:
1. Break Lease Clause: The Buy Out Clause– Honestly this is great for all parties. Life happens and people often need to reevaluate. While a year doesn’t seem long; you would be surprised what can happen. While it might seem to favor the landlord it honestly is great for tenants too. Under current rules, you owe rent until you are replaced with new tenants. While a landlord should be able to replace you, what happens if he doesn’t? You have no control over the situation and you are required to continue paying until your lease ends or a new tenant is found. There is no incentive or requirement to lower the rent to get someone in to the house. So if it is October and your lease ends in March, guess what? You are responsible for the rent until March.
Thought: If you read Possession is 9/10 of the Law: Who has custody of your money? you might think you are off the hook. If you have a federal position, care about your credit score/eviction record, get a tax return, etc. that is all fair game.
2. Reverse Military Clause- As seen in Military Moves: Are you Protected? A lot of military have reverse clauses if they move back into the area. I have even heard that some states have this in their federal law. So if you don’t want to move mid-duty station, examine the lease closely for this clause. If you are in love with the house, ask the landlord frankly how likely this is? Also know that if you only sign a one year lease that the landlord doesn’t have to renew. So chose terms wisely!
Warning: Read Me!
As this article describes, unless it is in writing, it doesn’t exist! So do not “count” on anything unless it is in the lease or in a signed addendum. In my experience email and texts count as writing. So they are my favorite forms of communication.
Strengthen Your Landlord Backbone: Get it all in Writing
Fourth and LAST Step:
Send in your Security Deposit! I personally am a huge fan of direct deposit and it starts with the security deposit. It’s great for you as there is no “remembering” or forgetting! Mail can’t get lost or anything else that seem to happen.
Reluctantlandlord’s goal is for everyone to succeed in real estate. Real Estate is the definition of “mutual assured distraction”. If one party loses, they both lose. The sad part is I have equally counseled tenants and landlords on issues from the each side, so it’s not a side sickness!
United We Stand! Divided we Fall!!! Which will you do?
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The post Tenant’s Guide to Finding and Getting Into a Great Property appeared first on The Reluctant Landlord.
