New Landlord (by Kelly [AZ]) Oct 24, 2008 1:41 PM
New Landlord (by Bill [TX]) Oct 24, 2008 1:57 PM
New Landlord (by galveston [TX]) Oct 24, 2008 4:44 PM
New Landlord (by AllyM [NJ]) Oct 24, 2008 5:19 PM
New Landlord (by DIXIE [KS]) Oct 24, 2008 7:44 PM
New Landlord (by Laura [GA]) Oct 24, 2008 7:50 PM
New Landlord (by Katherine [TX]) Oct 24, 2008 8:55 PM
New Landlord (by billy button [MA]) Oct 25, 2008 6:58 AM
New Landlord (by jessica [CA]) Oct 25, 2008 8:12 AM
New Landlord (by Laura [KS]) Oct 25, 2008 5:30 PM
New Landlord (by Lynda [TX]) Oct 27, 2008 8:30 AM
New Landlord (by Kelly [AZ]) Posted on: Oct 24, 2008 1:41 PM Message:
State Specific Question About: ARIZONA (AZ)
Hi,
I am new landlord. I have found a tenant who meets all requirements, credit check, background, etc.
I am meeting today to fill out the Rental Agreement forms. The move in date will be Nov. 1st.
Do I collect the first months rent and the Security Deposit today to hold the unit, or just the Security Deposit?
Thanks in advance for the help.
--68.99.xxx.xx |
New Landlord (by Bill [TX]) Posted on: Oct 24, 2008 1:57 PM Message:
Sign the rental agreement if tenant can pay 1st month’s rent plus security deposit. If less than full amount, then use a holding fee agreement.
Here is one that I use:
Holding Fee Agreement
__________, hereinafter referred to as Lessor has a lease located at _________ that is currently available to lease. _______________, hereinafter referred to as Applicants desires to lease this property but can't move in till ____________. Lessor is willing to hold the unit open up till 12:00pm on ________ for compensation in form of a cash holding fee. Said fee is ___________________ ($______) and is non refundable. To be paid in full this day.
If Lessee signs the lease agreement that has a term of one year and pays all fees and monies owed under agreement & switches over utilities, then a credit will be given Lessee equal to the amount of the holding fee and said money shall be deducted from the money due at signing of lease agreement. This credit is given based on the fact tenants agree to stay full term and pay all other monies owed at signing. If tenants fail to stay full term the amount of credit given will be added back and will be considered by all parties as additional unpaid rent owed Lessor.
Lessee states they have reviewed a copy of the lease agreement they are required to sign and return with all additional monies and fees by the end of the holding period. Receipt in hand by landlord constitutes delivery by Lessee.
Signed this ______day of _______ by
_________________ _________________
Applicant Applicant
________________
Lessor
Happy Landlording!!
Bill [TX]
--75.20.xxx.xx |
New Landlord (by galveston [TX]) Posted on: Oct 24, 2008 4:44 PM Message:
So long as you have sec dep and first month's rent before you give them keys. And no checks for this. Should be money order, cashiers check or cash. Then for subsequent rent pmts, whatever you decide, checks, cash, etc. --70.196.xx.xxx |
New Landlord (by AllyM [NJ]) Posted on: Oct 24, 2008 5:19 PM Message:
Yes, especially the security deposit must be cashiers check or cash because there aren't really any laws to help you get it if the tenant doesn't pay it. My mom rented to someone years ago and they gave her the security in a personal check and then told her not to bother depositing it after they moved in. --76.99.xxx.xx |
New Landlord (by DIXIE [KS]) Posted on: Oct 24, 2008 7:44 PM Message:
What I would do is collect the deposit only today. Sign only a "deposit receipt" which would indicate that the deposit won't be returned if they "change their mind".
Then on Nov 1 [or, better Oct 31], I would meet to [1] sign lease [2] do movein inspection [3] collect rent and [4] hand over keys. --70.14.x.xxx |
New Landlord (by Laura [GA]) Posted on: Oct 24, 2008 7:50 PM Message:
The "law" that helps you get your security deposit is your lease. It should be written in to your signed lease and thereby enforceable.
I'm really puzzled by that post! --76.97.x.xxx |
New Landlord (by Katherine [TX]) Posted on: Oct 24, 2008 8:55 PM Message:
I like Bill's idea. Use a holding fee amount in the amount of the deposit, then on paper convert the holding fee into the deposit at move in.
That fee is non-refundable as a holding fee but converts to normal returnable deposit once the rent is paid and she moves in. You need an agreement like Bill's that takes care of this.
That type thing best protects you if she backs out for any reason.
Welcome to the site and welcome to LLing! --64.12.xxx.xxx |
New Landlord (by billy button [MA]) Posted on: Oct 25, 2008 6:58 AM Message:
be sure u get all money due and utilities in their naqme if they will be responsible before givibg keys.cash or cert ck best.ive taken a opersonal ck with no problems but i call bank first and see if its good.read bank the acct numbers on bottom of ck.dont tell them u will do that --208.58.x.xx |
New Landlord (by jessica [CA]) Posted on: Oct 25, 2008 8:12 AM Message:
Get ALL $$$ due, and make certain it's cleared funds (cash, money order or cashier's check). The first is only a few days away. Good advice above - make certain utilities are in tenant name before keys are turned over.
I generally make it a rule to have security and first month on signing the rental agreement. --72.87.xxx.xxx |
New Landlord (by Laura [KS]) Posted on: Oct 25, 2008 5:30 PM Message:
Be sure you understand what is legal and what you need to do to protect yourself in the state/county/city where the rental property is located. Landlord tenant laws vary from state to state and can also vary by county/city, when government assisted housing is involved and/or if the property is located in a rent controlled area. Many states have very distinct laws regarding what constitutes a security deposit, maximum security deposits, how a landlord is to account for a deposit, etc..
If you are unsure, do yourself a favor and check with an experienced landlord tenant attorney who practices law in the same area that your rental property is located for direct legal advice. It is better to get started on the right foot instead of having legal issues after the fact. --216.244.x.xxx |
New Landlord (by Lynda [TX]) Posted on: Oct 27, 2008 8:30 AM Message:
Kelly, congratulations and welcome. I always collect everytyhing I can as soon as I can--but the LEAST you shd take is the full SD. Advice above is good. ALSO, as soon as you have time--go uo to the LL/Tenant Laws link (in blue) and print all laws for your state. Put in a 3-ring binder for your use. Its a lifesaver to have at a moments notice. --140.140.xx.x |
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