Security Deposit forRent
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
     
     
Security Deposit forRent (by Mary [NJ]) Oct 11, 2018 8:13 AM
       Security Deposit forRent (by JB [OR]) Oct 11, 2018 8:40 AM
       Security Deposit forRent (by S i d [MO]) Oct 11, 2018 8:52 AM
       Security Deposit forRent (by Plenty [MO]) Oct 11, 2018 8:58 AM
       Security Deposit forRent (by fred [CA]) Oct 11, 2018 9:25 AM
       Security Deposit forRent (by Mary [NJ]) Oct 11, 2018 10:00 AM
       Security Deposit forRent (by Plenty [MO]) Oct 11, 2018 10:33 AM
       Security Deposit forRent (by Barb [MO]) Oct 11, 2018 10:45 AM
       Security Deposit forRent (by Oregon Woodsmoke [ID]) Oct 11, 2018 10:50 AM
       Security Deposit forRent (by AllyM [NJ]) Oct 11, 2018 10:57 AM
       Security Deposit forRent (by Frank [NJ]) Oct 11, 2018 12:29 PM
       Security Deposit forRent (by Vee [OH]) Oct 11, 2018 1:18 PM
       Security Deposit forRent (by DJ [VA]) Oct 11, 2018 5:38 PM
       Security Deposit forRent (by Tony [NJ]) Oct 11, 2018 5:42 PM
       Security Deposit forRent (by BRAD 20,000 [IN]) Oct 11, 2018 6:00 PM
       Security Deposit forRent (by Mary [NJ]) Oct 15, 2018 9:33 AM
       Security Deposit forRent (by Frank [NJ]) Oct 15, 2018 10:58 AM

Click here to reply to this discussion.
Click Here to send this discussion to a friend

Security Deposit forRent (by Mary [NJ]) Posted on: Oct 11, 2018 8:13 AM
Message:

We are currently renting out a 2nd floor, 3 bedroom apartment (2 family house) in North NJ to a young married couple, toddler, infant, and the wives parents (At the time I had no choice but to use a realestate agent, Mistake!)

On Tuesday, Oct 9th, the wife called my husband and told him she wants out of the contract (Lease ends January 31st) because her and her husband can no longer afford the rent. The reason being is her father was deported out of the country and the mother has a terminal illness. My husband let me know of the situation. I decided to call her husband instead because I refuse to deal with her as she has been is very complicated, rude, and a ball of stress to deal with in the past..

I was happy to comply with her and her family leaving the unit early. When I spoke to her husband, I let him know that I had no problem having them break their lease providing I get new tenants to rent (easy to rent). We also went over on when I can show the place. I also told them since they painted and wall papered (they never asked us for permission) that they would have to paint the walls back to its original color. I know she was listening and he stated he was fine with all of that.

Within minutes of that conversation, the crazy wife texts my husband a long message in broken English to let him know that the reason they wanted to leave was because they had an opportunity to leave to another place that was cheaper. But that now they are going to stay and that they will stay and use their Security Deposit and apply it towards the rent???? And that they may stay long until they canít find a reasonable place to rent.

The husband sends ME a text stating they rechecked their finances and everything is ok and that they are staying thru to the end of the contract.

This is going to be a problem for us. To start with, their Security Deposit will not cover the 3 months and when they leave, they will stick us with any repairs, painting, removing wall paper. What can I do or is there a letter that I can write where they have to pay the rent or I take them to court? I never had to deal with this.

Thank you.

--47.22.xx.xxx




Security Deposit forRent (by JB [OR]) Posted on: Oct 11, 2018 8:40 AM
Message:

Is the agent acting as your manager? Why are you even having to deal with them? --24.20.xxx.xxx




Security Deposit forRent (by S i d [MO]) Posted on: Oct 11, 2018 8:52 AM
Message:

Mary,

Welcome! Relax. This is typical tenant behavior.

First, no more texts. That mode of communication isn't very good for conveying complex thought anyway. It's good for "meet me for pizza, Dominoes, 7 pm" or "Rent?" reminder if money not received on time, and that's about.

Second, if your Agent is acting as the property manager, they need to deal with this, not you.

Third, if your Agent is not acting as the property manager, then you simply need to remind the tenants that everyone needs to abide by the lease. The lease should specify the purpose of the Security Deposit. Mine specifically states that the Security Deposit cannot be used to pay any rents, charges, damages or fees due under the lease. If your lease says that, you simply copy that page, highlight it, and mail it to the tenants. Then wait to see if they comply (yay!) or don't (boo hiss!). If your lease does not state this clearly, be sure to fix it for the future.

Side note: many states including mine have laws the say the Land lord cannot touch the Security Deposit until the lease terminates. So even if I WANTED to accept it for the rent (I don't, for all of the same reasons you stated above!) I can't because it's illegal to do so. Might check what your state law says about it. If this is the case for your state, try sending tenants a copy of it so you can blame the "big bad state's law" limiting what you can/can't do. Otherwise, just tell the tenant it is your "Standard policy" not to accept Security Deposit as rent. If they push, push back. "This is how we treat everyone and we must be fair."

Ultimately, tenants will do whatever they feel like doing. If they fail to pay rent when it is due, you start the eviction process immediately. Don't let them wheedle you or make excuses. Their family drama and financial woes are not your problem. Your one and only job here is to collect the rent, in full, on time, and abide by the terms of the lease everyone agreed to when signing.

Btw, next time someone paints or wall-papers without permission, the time to address that is immediately, not at the end of the lease. Letting problems build up like this only ensures that the security deposit will not be sufficient to cover your turn over costs.

Good luck!

. --173.20.xxx.xxx




Security Deposit forRent (by Plenty [MO]) Posted on: Oct 11, 2018 8:58 AM
Message:

Oh boy. I wouldn't like any of that. I would just stay on them. Prepare now for what may come. Stay on top of everything. Read your lease and know your rights and state laws. Any late or unpaid rent file for eviction the first available day. Do not delay. Know your strategy and be prepare to follow thru. Mo excuses.do not believe their words. Stop replying to their texts. Let all their phone calls go to voice mail. Sit tight. Don't worry prepare yourself and know a plan of action. Work your business. --99.203.xx.xx




Security Deposit forRent (by fred [CA]) Posted on: Oct 11, 2018 9:25 AM
Message:

Sid and Plenty are giving you plenty of good advise, you have to follow thru.

Let me add this: contact an eviction lawyer right now, to guide you for what's coming. Do not seek info from realtors, property mangers or any lawyer, just eviction lawyer.

Tenants who change their minds, their short and long term plans in minutes are the worst kind. They let emotions run all over their reason.

Just remember: If rent is not on time, file a "Pay or Quit" notice immediately without losing a day - hand it to them, post on the front door and mail them a copy. When it expires and you still don't have the rent, go to your eviction lawyer with all your documents and have him take over.

Let us know what happened. --99.59.x.xxx




Security Deposit forRent (by Mary [NJ]) Posted on: Oct 11, 2018 10:00 AM
Message:

Hello,

Thank you for your responses! This realestate agent was a bad choice on our part and never again. So no, they do not manage our property.

fred, CA - I have seen those word's "Pay or Quit" notice. Where do you find that? Do you go to the town for that?

Thank you again,

Mary

--47.22.xx.xxx




Security Deposit forRent (by Plenty [MO]) Posted on: Oct 11, 2018 10:33 AM
Message:

Mary... just type it up yourself or Google search for a free one. Maybe on this sight. Print it out at office supply store. Mail it and post it on bright colored paper tape it to the door and take a picture with your phone --99.203.xx.xx




Security Deposit forRent (by Barb [MO]) Posted on: Oct 11, 2018 10:45 AM
Message:

You need to look up what your state and city require for your pay or quit. The timeline and if a form is required.

When can you call rent late? It is a local or state law you need to know. --131.151.xxx.xxx




Security Deposit forRent (by Oregon Woodsmoke [ID]) Posted on: Oct 11, 2018 10:50 AM
Message:

What I would do would be to email back. "You may not use deposit for rent. If rent is not paid within three days, I will file for eviction . This is your three day notice that rent is late.

Dont forget to include the late fee when you pay the rent."

You then go and post the written pay or quit on their door.

Look up your law to make sure three days is the legal pay or quit notice perid. Your state might vary.

--174.216.xx.xxx




Security Deposit forRent (by AllyM [NJ]) Posted on: Oct 11, 2018 10:57 AM
Message:

Wife is a problem and has crazy ideas. Only communicate with the husband. --73.178.xxx.xx




Security Deposit forRent (by Frank [NJ]) Posted on: Oct 11, 2018 12:29 PM
Message:

1) No more talk/text.

2) as stated above....start getting yourself a lawyer. It seems that this is your first timer issue and in NJ you do not want to make a mistake.

3) RENT is RENT. Security Deposit is NOT REN?T --173.70.xxx.xxx




Security Deposit forRent (by Vee [OH]) Posted on: Oct 11, 2018 1:18 PM
Message:

I always mention the deposit is not accessible until the court pushes out the unpaid tenant or the tenant turns in the keys to the manager/owner, if it were a rent deposit it would not be called a security deposit. --76.188.xxx.xx




Security Deposit forRent (by DJ [VA]) Posted on: Oct 11, 2018 5:38 PM
Message:

In addition to what others have said, look up on the top, left of this page for the blue letters " Landlord/Tenant State Laws ". Find yours, save them to your computer, read, study, understand and apply them. Use them in your new, improved, rental agreement. --68.10.xxx.x




Security Deposit forRent (by Tony [NJ]) Posted on: Oct 11, 2018 5:42 PM
Message:

A lot of good advice here. Some things are state specific. Check yourself for compliance. These people may quickly become street smart.

Did you inform the tenant IN WRITING where their security deposit is within 30 days of move-in? ( If not, they can direct you to use it for rent payments and you CANNOT require a replacement. I always put it in my lease )

Is the SD in a NJ thrift institution? Does the place require/currently have a C of H ?

If no to any of these you should contact a LL/tenant attorney. If you don't know one, contact the special civil part at your county courthouse. They WILL NOT recommend an attorney but they can tell you names of lawyers who appear regularly in LL/tenant court. These people are setting you up for the highly coveted "rebate" at the end - won't pay last month's rent, no incentive to leave the place clean/damage free. Good luck. --73.195.xxx.xxx




Security Deposit forRent (by BRAD 20,000 [IN]) Posted on: Oct 11, 2018 6:00 PM
Message:

Mary,

WIfey and I are babysitting our two grandsons tonight. (FREEDOM!!!) The older boy wanted the ball the younger one was playing with. I said NO and gave it back to the younger one. Older boy falls on the floor in a tantrum.

THAT is EXACTLY what you residents are doing. Testing you and throwing a fit if they don't get their way.

It starts when the LL "gives in" on the rules.

Go back to square one and FOLLOW THE LEASE. Period.

They ALL have terrible terrible heart tugging problems to try to convince you they deserve special treatment. It's not up to me to play god and decide who gets to break the rules and who does not. Treat everyone the same - FOLLOW THE LEASE.

I HOPE your lease has an Early Lease Termination Fee because it solves your dilemma in a heartbeat. They can pay the fee and leave at any time.

1. Send a copy of the lease and remind them your company will stick to the lease. Any verbal agreements are non-binding. (A proper lease already states that)

2. Send them a Late Letter (Pay or Quit) the MOMENT the rent is late. Me? We send a text "This is your only notice to pay within 3 days to avoid court ordered sheriff eviction on your record. Pls reply when paid."

I don't bother trying to explain rules about depsoits. We simply send the late rent text and start piling up late fees. And we DO file eviction on the 4th day.

Paint and wallpaper?!? A proper lease covers this. Does your lease address this? with pre-agreed costs to repair/repaint? My lease is clear: Resident may not paint, paper, or change the building in any way. $275 per room to repaint back to Management's colors.

GO NOW and put eyes on this home. Take photos. Charge them NOW for the repairs, NOT waiting until move out. YOU need that deposit to cover unpaid rent and damages after they are out.

It's simple: pay the rent.

Do NOT allow yourself to be dragged into a discussion or drama. Simply stick to the lease.

Stay Strong!

BRAD

--68.50.xxx.xxx




Security Deposit forRent (by Mary [NJ]) Posted on: Oct 15, 2018 9:33 AM
Message:

Thank you all!

RAD 20,000 [IN] - My lease (given by an attorney I once met with years ago) so it does state about repairs and painting. So how do you charge a tenant when you find out that they changed the colors of the walls and painted when they first moved in?

Do you send a letter stating that I will take it immediately out of their security deposit? Sorry just a little confused because the only time I thought you can do this is After they leave?

Thank you. --47.22.xx.xxx




Security Deposit forRent (by Frank [NJ]) Posted on: Oct 15, 2018 10:58 AM
Message:

Here is something Important:is the property registered with the State of NJ?. NOT the.municipalty, NOT the County, The State. If not you will most likely not be heard in court

LP --107.77.xxx.xxx



Click Here to send this discussion to a friend
Report discussion to Webmaster


Reply:
Subject: RE: Security Deposit forRent
Your Name:
Your State:

Message:
Security Deposit forRent
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. Do not add your address more than once per thread/subject. By entering your email address here, you agree to receive notification from Mrlandlord.com every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible to readers.
Email Address: