By Trevor Rhodes
The Definitive consultant for Every Landlord
Whether you simply have an additional room to hire or a growing to be condo empire, you continue to want trustworthy details and specialist suggestion to ensure you do it correct. Drawn from years of expertise supporting millions of landlords, American Landlord leads each person from the hot landlord to the outdated professional via all of the fine details of estate administration.
- Buying and keeping condo houses
- Successfully advertisements your vacancies
- Safely and securely screening your candidates
- Effectively facing complicated tenants
- Understanding condominium types and agreements
BONUS CD-ROM FEATURES: Ready-to-print condominium functions, rent agreements, checklists plus landlord-tenant legislation for all 50 states, and masses more!
Read Online or Download American Landlord Law: Everything U Need to Know About Landlord-Tenant Laws (American Real Estate) PDF
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Additional resources for American Landlord Law: Everything U Need to Know About Landlord-Tenant Laws (American Real Estate)
Unpaid Rent Landlords are permitted to use the tenant’s security deposit for any unpaid rent no matter which way you want to try to look at it! Whether it be for additional days the tenant stays beyond the “move-out date” or perhaps because the tenant didn’t give enough notice to cover the period mutually agreed upon in the lease in either case, then you can prorate those extra days that notice should have been given. If the tenant is not on a month-to-month lease, you can also withhold the balance of the remaining lease term should the tenant leave early and you are unable to re-rent the property, after a sincere effort on your part to advertise the property’s vacancy, during that time.
1 of each year Washington No statute West Virginia No statute Wisconsin No statute Wyoming No statute Where to Keep the Deposit As previously mentioned, security deposit funds are not legally yours until you can lawfully make a claim against them. Therefore, it’s in everyone’s best interest (especially yours, when worrying about complying with numerous laws and regulatory agencies) to keep these funds separate from your business and personal accounts. In other words, a tenant’s security deposit should be held in a separate bank account not in your back pocket or underneath your mattress in a federally insured bank, preferably located in the same state as the property.
In the meantime, a basic ability to reason will prove more than adequate to help us cope with our individual differences in perception. And, as long as you’ve done your homework in hiring the best possible tenant (discussed in much greater detail in the American Landlord volume of the “Everything U Need to Know…” series), you should somehow be able to come to a common agreement – especially since most sane people are really not interested in the joys of engaging in small claims court proceedings over such a relatively small sum of money.
American Landlord Law: Everything U Need to Know About Landlord-Tenant Laws (American Real Estate) by Trevor Rhodes