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September 2005 |
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Renting Isn't the End of the World — If You Know How To Do It While buying a home has become less and less affordable, renting is surprisingly and historically cheap right now. For a lot of families trying to live within their means, renting may be the best option or the only option. Unfortunately, along with renting comes a landlord. So, here are a few tips to help make the best of a rental relationship. Get everything in writing Plenty of landlords and tenants enjoy great relationships. Unfortunately, many others do not. Some well-meaning landlords are simply in over their head and some have little regard for their tenant's needs. To remedy this, the law generally requires the landlord to provide housing that complies with the building code and keep it in "good repair." But here's the rub: Keeping the landlord true to the law essentially falls upon the tenant. And that is best accomplished by keeping everything in writing. Everything. If you provide a security deposit, get a receipt. If you call your landlord to tell him you have no hot water, mail him a letter that same day saying so and keep a copy for your file. When the repair is made, photocopy the work receipt. If the repair isn't made, call again and send another letter. The idea is to be able to demonstrate, in court if necessary, a record of your landlord's quality of response. However, the goal is not to wind up in court. Most of the time, doing this will keep you out of court because a landlord who knows he's on record will try to be responsive. So don't wait until your landlord disappoints you to start the recordkeeping. Keeping careful records should keep your landlord on guard from the beginning. Also, don't get emotional in your letters. Stay professional and cordial. Done correctly, the paper trail can actually enhance a renter-tenant relationship. A picture can save you a thousand words Upon moving into a place, take a bunch of photos showing the condition of the carpeting, walls and anything damaged or dirty. Also, if the home falls into disrepair because of landlord neglect, photograph the conditions. If a dispute arises, these photos will be invaluable in court. Know the local renter rights Your local library, legal aid offices and the Internet have guides to renter rights. They change from state to state. But being versed in the law will give you much more power in dealing with your landlord and help you know how to keep the all-important paper trail. Have an emergency fund Homeowners need emergency funds to avoid running up a credit card to pay for a major urgent repair. But renters need an emergency fund as well. They need to have enough money saved where they can move out anytime, which means enough to cover first month's rent, a security deposit and moving costs. The reason is that if the landlord repeatedly fails major plumbing or the central heat, — making the home unlivable — the renter needs to be able to move out on his own dime. They'll then have to seek security deposits and perhaps damages in court. Scout your landlord To ward off trouble, before signing the lease ask potential landlords the following questions: How many properties does he manage? Is this his primary source of income? Does he have a property management company? Who will be doing repairs and are they on call 24 hours? Has he ever had a problem with previous tenants? How long has he been a landlord? As a renter, there's a temptation to take a hands-off approach to your housing. But being organized and proactive can make renting more enjoyable and ward off unpleasant and sometimes costly conflicts with a landlord. |
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