Property Management News
We’ve all done it before: we’ve found an item in a store, brought it to the register, and asked customer service to hold it so no one else can snag it while we shop. We’re used to seeing this practice in the retail industry, but did you know it is also commonplace in the rental world? Like an item at a clothing store, prospective tenants can reserve an apartment with a holding deposit before signing a lease agreement. As a landlord, this tells you that a renter is serious about your property and doesn’t want to risk losing it to another applicant. However, unlike the retail industry, where holding deposits are just a few dollars, an apartment holding fee holds much more weight. What... Read more
Even landlords who conduct in-depth analyses of tenant credit and financial health will experience some tenants who become financially unstable during the term of the...
There seems to be quite a bit of confusion on the part of landlords and renters alike as to the difference between a security deposit and a move-in fee. The biggest...
A lease guarantor is an individual or entity who agrees to take responsibility for the lease obligations of a tenant if they are unable to fulfill them. They provide a...
California has specific laws in place when it comes to security deposits, and it is essential for both landlords and tenants to understand their rights and...
Renters in California will no longer be asked for a security deposit larger than one month’s rent, under a bill signed into law by Gov. Gavin Newsom. On Wednesday, the governor signed Assembly Bill 12 by Assemblymember Matt Haney (D-San Francisco). According to Haney, the measure would stop the practice among certain landlords to charge two or even three times the monthly rent as a security deposit. “Massive security deposits can create insurmountable barriers to housing affordability and accessibility for millions of Californians,” Haney said in a statement. “Despite skyrocketing rents, laws on ensuring affordable security deposits haven’t changed... Read more
A bill going through the California Legislature has the potential to limit the amount of security deposits for renters, reports MarketWatch’s Aarthi Swaminathan....
New lease trade-outs plummet nationally. A new report from Berkadia shows how concerns about slowing apartment demand and falling apartment rental rate growth is...
Normal wear and tear doesn’t count When a tenant moves into a rental property, he or she will pay the landlord a security deposit in addition to first month’s...
As eviction moratoria begin to expire, the importance of doing a thorough tenant background check on prospective renters has never been more important. Property owners...
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