As a landlord, you may think you have all the information you need to keep your rental business on the up and up while protecting yourself and your assets. Let’s see how you do with this simple quiz.
T or F: The landlord is always right no matter the tenant’s argument.
False. There are two sides to every coin, so to speak. When the subject is arrears in rent, both the landlord’s and tenant’s sides must be examined. Though the rent must be paid, many states are pro-tenant in anti-discrimination suits. It’s good to have a legal contract in place that protects the rights of both parties, and if necessary, pursue legal action.
T or F: A tenant can move out completely without notice should she/he feel unsafe in the rental property.
True. It is incumbent upon the landlord to provide a shelter free of serious defects which could be harmful to the health or safety of the tenant. And some states permit the tenant a right of cancellation. However, the tenant must inform the landlord in writing and allow him/her to repairs the problem in a reasonable amount of time. Further, a tenant who wishes to cancel a lease should seek legal or appropriate governmental agency advice to ensure the conditions are severe enough to warrant vacating.
T or F: An artistic tenant has painted the walls with a textured paint in one room, a blackboard paint in another and applied wallpaper in another. The tenant has now given proper notice according to lease requirements and has moved out. Do you refund the tenant’s security deposit in full?
It depends. Did the tenant improve the property? Leases usually include a limited covenant to possessory interests. If tenants wish to have their security deposit returned, most statutes say they must leave the premises in move-in condition. However, some tenants agree in writing to update, personalize or decorate a property upon leasing.
This quiz’s purpose points out the need for thorough data screening and consideration by both parties before renting. No renter should enter an agreement without reading the lease or viewing the property. And no landlord should rent without a complete data screening of the applicant.
A professional agency such as Data Screening can assist you with a thorough background check for your rental applicant. Learn as much as you can to protect your investment and keep everyone’s mind at peace.
About DataScreeening.com
Data Screening is a Certified Women’s Business Enterprise that has offered business-to-business employment and tenant screenings to human resource professionals and business owners, including staffing companies, for two decades. Among other organizations, they are members of the New Jersey Staffing Alliance, the Society for Human Resource Management and the National Association of Professional Background Screeners. How may we help you today?