The Urban Dictionary of Dispelling Myths About Renting A House!
Many years ago, cockroaches were found in my Chicago home. I squandered money on traps, sprays, and other tools to get rid of the filthy rent-free tenants, but I was unsuccessful.
So I asked my landlord for help. If he objected, I would withhold rent or terminate our agreement—I was justified, right?
Maybe. It couldn't be. Due to the variations in tenancy laws and rights from city to city, even if my landlord wasn't performing his duties, it might not have been legal for me to leave. Fortunately, it didn't come to that since he quickly hired an exterminator, and I was roach-free for the remainder of my lease.
Like myself, many tenants feel that in the event of issues or maintenance, you might withhold or miss a payment of rent. Rental-related myths are also frequently held. In addition to the truth, here are a few more common ones.
1. Renting is a waste of money.
Undoubtedly, buying a house is a wise investment. But there are also additional benefits to renting as an investment. You might find it more economical, prefer having someone available for maintenance and repairs, or you might desire the flexibility to move whenever you like. Additionally, renting provides you time to accumulate funds for a down payment on a house.
Therefore, the next time well-meaning friends or family members try to persuade you that renting is a lousy option, remind them that they are wrong and that you can disprove their claim.
2. Landlords have unrestricted access to your property.
To show your flat to possible tenants, check the fire alarms, or carry out regular maintenance, your landlord may need entry to your residence.
A landlord cannot, however, access your apartment whenever they want. He has to give you a reasonable amount of time, typically 24 hours. Naturally, there are some exceptions: landlords may access the property without prior notice in case of an emergency like a fire or a severe water leak.
3. The cost of renting a home is established in stone.
We won't lie to you: In a competitive rental market, you often need more negotiation leverage when deciding how much to spend on a rental. Although every landlord is different, you have a few aces up your sleeves. Consider first signing a lengthier lease. Tenant turnover often gives landlords the willies. If you can commit to staying for the long(er) term, they might be more willing to negotiate the rental price and lease terms.
Second, consider how much time you have. Landlords might be more open to negotiating because there are more rental vacancies in the winter. Finally, gather the following evidence to support your case: To prove that you're a responsible tenant, bring letters of recommendation from your previous landlord and knowledge of the neighbourhood's vacancy rate and market prices for comparable apartments.
4. You can deduct your rent when you conduct your repairs or maintenance.
Deducting the cost of repairs may seem like the most straightforward answer, but doing so could cause issues in the future, primarily if you have yet to speak to your landlord about the matter. Leave the work to your landlord, along with an itemised list of what needs to be done.
You'll have evidence to present to a higher authority if the owner declines to perform the repairs. Tenants can contact their neighbourhood building inspectors "to check [the place] and force the landlord to undertake the necessary repairs," according to Alicia Bosben, broker property manager at the Realty Tree in Madison, WI. by code."
5. All repairs and maintenance are the responsibility of the landlord.
Depending on where you live and the terms of your lease, the landlord's or property manager's duties change. Your landlord is in charge of all routine maintenance, noise, plumbing, and pest control issues.
Some problems, though, are usually your responsibility if you start them.
According to Daniel L. Staley, associate broker of Staley Real Estate in Rhinebeck, NY, "If the tenant's negligence results in the damage, the landlord may elect to remedy the problem and deduct the expense from the renter's security deposit."
We're talking about lawsuits here, so depending on how severe the damages are, and it can cost you more than your security deposit.
6. Your landlord has the authority to evict you for any reason.
If your lease is in writing, your landlord cannot evict you for any reason. The tenant's eviction must be supported by evidence that the landlord has proven you have broken the terms of the lease. (However, the regulations can get hazy if you rent monthly.)
Furthermore, it would be best if you didn't come home to discover your possessions strewn about the street and your locks changed. Nolo, one of the largest online databases of reliable consumer information, states that landlords or property management companies must provide adequate and comprehensive written notice to evict a resident.
After giving you the notice, the landlord has the legal authority to initiate eviction proceedings against you if you don't leave or change your behaviour.
7. Your security deposit may be forfeited if you stay there for an extended period of time.
Given that you've only lived somewhere for a year and there isn't any apparent damage, you should certainly get your security deposit returned. However, if you've been there for a time, you presumably believe you can get rid of that security deposit.
Chestnut Tower Apartments in Chicago's property manager Megan Perkins Roldan says it can be challenging. When determining wear-and-tear damages, Roldan explains, "we take the lease period into account. We also anticipate that longer-term renters will want more maintenance from us at move-out. But sometimes, it's not regarded as damage.
Returning the equipment to its original condition as much as is practical is the most significant way to cut costs. Clean the space thoroughly, patch up any noticeable holes, and repaint any walls painted in a specific colour.
8. You can never rent an apartment if your credit score is low.
Credit might make things more complicated, especially in a market where renting is highly competitive. This does not, however, automatically rule you out as a rental candidate. When you submit a housing application, they will do a credit and background check. Other factors, like sharing a space with a roommate, showing proof of income, or getting letters of recommendation from former landlords, could help make the decision.
Please have a look at my other blogs:
No comments