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LANDLORD LOOPHOLES: ISSUES TO CONSIDER WHEN RENTING AN APARTMENT

August 19th, 2013 - By Blair Bedford

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There are plenty of ways an independent landlord could get over on you as a tenant. Knowing your rights as a tenant could pay off big and protect you from a money-hungry landlord. Perfect example of this: A 30-year old Harlem, NY tenant is paying only $1 a month (yes, only $1!) for his two-bedroom apartment because of a loophole he found that his landlord did not overturn, DNAinfo New York online reported.

Make sure you are well-informed and knowledgeable about these main factors of renting from an owner before it becomes an financial and legal issue

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SECURITY DEPOSIT

The security deposit can range drastically, from one month’s rent to up to three months, depending on the landlord. Stay informed of how much you are paying for security deposit and make sure you get a written receipt of the transaction. Before the end of your lease, make sure you read over it and note the factors that would stop you from getting your deposit back when you move out, such as the condition of the home or vacating the premises properly

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NEIGHBORHOOD PROPERTY VALUE

Check the neighborhood’s going rate for apartments before signing the lease on your new place. Your landlord could be increasing the rent of your apartment without an increased value of the property of neighborhood.

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RENT STABILIZATION

Some apartments are offered at a rent-stabilized rate. These apartments do not go up in price as high as those priced at market-value. While many apartment complexes and individual apartments in changing neighborhoods could go up in rent by hundreds of dollars, these apartments are not required to do so. In New York City, apartments that are not rent stabilized and are owned by an independent landlord are subject to a raise in rent that is up to the landlord and tenant’s discretion and negotiation.

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SUBLEASING

Many metro cities like New York offer subleased apartments, but it’s up to the owner or landlord’s discretion. Sometimes if a tenant has to move and they find another person to move in as a replacement, the landlord is amenable. Read over your rental agreement to make sure this is allowed or not allowed. It could cost you your deposit or possible eviction from the apartment.

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MOVE-OUT NOTICE

Many landlords expect their tenants to give them or their company a written 30–to-60-day move-out notice before a new lease begins. Make sure you read over the contract or rental agreement between you and your landlord in regards to what type of notice is needed before your landlord claims they were given insufficient notice, leaving you at a disadvantage to getting your security deposit back.

LANDLORD LOOPHOLES: ISSUES TO CONSIDER WHEN RENTING AN APARTMENT

August 19th, 2013 - By Blair Bedford

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PETS

Petsin the residence could be a deal breaker for your landlord. Don’t get caught trying to raise a pet in an apartment that doesn’t allow them, or keep a pet of a prohibited size or breed. This could compromise your security deposit at the end of the lease term and may even get you evicted. And don’t think it’s just the landlord that will call you out. A nosy neighbor, someone with allergies or a nervous parent could be on the horn telling everyone if they get a whiff of the news.

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ALTERATIONS & DAMAGE

Making changes to the apartment, such as painting, nailing artwork to the walls and more, could be at a cost to you at the end of your lease. Many landlords don’t like to cover the expenses of fixing up the alterations done to the apartment, no matter how nice you may think it is. Damage to the unit could also prorate your rent, get your security deposit withheld from you, or both.

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TRASH REMOVAL

Check with your landlord and read over your lease to see if trash is covered for your apartment complex or building. In many city apartments, a designated trash and recycling area is covered by the landlord. A mistake could send a bill your way for putting your trash out illegally on city streets. Make sure you and your landlord have a clear understanding of where and what the trash removal entails. And be thorough about recycling. It’s good for the environment and the fines could add up.

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APARTMENT ACCESS

If you decide to change the locks on your apartment door yourself, make sure your landlord is aware and has a key for the new lock for himself. For many independent landlords, denying them access to the apartment could accumulate fines or even make you face eviction from the property.