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One Hour And 30 Minutes
by Anonymous
on May 24, 2015 @16:06
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I just got off the phone with my best prospective tenant who has an approved application. This person has 20 years with the same employer, has a 700+ credit score, and makes over $100K per year. It took 1 hour and 30 minutes for this person to detail all the changes, 18 changes that they want made to the LPA lease. They had their lawyer go through and mark all the areas they don't agree with the wording.
For example, The definition of default versus breach of lease is not clear.
Paragraph 14 appliances. "Appliances are not included in the rent and are provided for the convenience of the tenant but if the tenant wishes to use them tenant shall assume all responsibility for care, maintenance and repairs" I explained that if the dishwasher wore out and broke I would fix it at my cost. This person says that is not what the lease says.
Paragraph 25 Default; Says the tenant shall not have the right to make a counterclaim or set off. They do not agree.
The LPA lease says the garage is not included in the rent. This person says it is.
Paragraph 27 Attorney's Fees: It says in any legal action relating to the terms or premises, REGARDLESS OF THE OUTCOME, the owner shall be entitled to all costs incurred ... including attorneys fees. This person does not agree.
They want the happy clause inserted/included. If I agree to all the changes it will take me hours to change the wording and then I should have my attorney approve the lease.
They also have a rent concession for the first year of a 24 month lease.
Some of the changes to the LPA lease seem to make sense, but I know they read that way for a reason.
This SFH has been vacant for a long time. It took me months to find a real qualified applicant. This person is a PITA but is the LPA lease worded incorrectly? What should I do? Walk?
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Re: One Hour And 30 Minutes
by J (FL)
on May 24, 2015 @16:57
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"This person has 20 years with the same employer, has a 700+ credit score, and makes over $100K per year."
I wonder why on earth a person like this rents instead of owns?
Did you check out their rental history? Did you look in county records to see if they've filed lawsuits against other people?
Yes, they sound like a PITA to me, based on what you've stated.
Having said that, I used the LPA lease, but deleted a few of the clauses on my own before ever using it with a tenant, because I felt those clauses were over the top. The thing with the garage sounds ridiculous. What does that mean on a practical level, they have to pay extra to store their own stuff in a garage? Tenants expect use of a garage.
How do they even know what the "happy clause" is? Did they used to be a landlord? I would not agree to inserting that. It could conflict with the ELT fee clause (if ELT is allowed in your state).
I would not make 18 changes in a lease because a tenant wants that.
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Re: One Hour And 30 Minutes
by Jackie
on May 24, 2015 @17:10
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Some of the lease clauses may not follow your State law and that's why the request for changes is made. That's why a landlord must check to insure any lease meets their State landlord tenant laws, and reflects any local laws also.
What does your lawyer say about your lease meeting your State landlord tenant laws?
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Re: One Hour And 30 Minutes
by J (FL)
on May 24, 2015 @17:16
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I just saw this:
"They also have a rent concession for the first year of a 24 month lease."
What is this concession exactly? This is something they came up with? No way would I do that.
And I would never sign a 24 month lease with anyone. If you don't like them, you could stuck with them for a long time!
I would be tempted to offer these people a month to month lease, based on what you've stated about their demands.
Is there something wrong with your rental? Why is it taking so long to find a qualified person?
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Re: One Hour And 30 Minutes
by Anonymous
on May 24, 2015 @18:03
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Never make a concession for the 1st month of any length lease -- if you want to offer concession, make it the final month, that way they have to stay the entire lease to get the benefit at the end. I learned that one the hard way -- tenant got discount up front, then left supposed 24 month lease early and in my state my lost rent is limited (some states allow landlord to sue for remaining months on lease, but most don't).
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Re: One Hour And 30 Minutes
by Katiekate (New York)
on May 24, 2015 @19:17
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First, some of what you mention in that lease is normal and standard.
The minute they said they have 18 changes...I would have said...sorry, I guess this place isn't for you. Good luck in your search.
Next, rent concession ? No way. But, I think since your place has stood empty for such a long time(as you say) you need to consider why. Maybe for the place you are asking too high a rent? Maybe for the market you are not offering enough amenities..(like include all appliances...without hedging the responsibility?). Something isn't right, check your market and be sure you are at least offering the same as your market. Lower your rent to offset, or upgrade.
Finally....at that income and stable employment level this tenant should have FICO in the 800+ Did you look at the entire credit report? Something isn't getting paid on time...or maybe he is over extended? Something...look for it.
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Re: One Hour And 30 Minutes
by Shaun (FL)
on May 24, 2015 @20:40
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As I have mentioned before I had my attorney review the LPA Lease. He too took out the part about the appliances.
Secondly, in this area (college town) he had me change the item concerning subleasing. LPA stated no subletting. My lease now states Tenant can sublet, but not without my approval of the new tenant.
I agree with the others. PITA--see ya!
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Re: One Hour And 30 Minutes
by Anonymous
on May 24, 2015 @20:49
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Hello, I am the OP LL in the south. Part of your questions may be explained by the fact that this tenant is military and was PCS'd to this city. This tenant already owns a property elsewhere in the country and appears to be upside down on the appraised value versus the mortgage. Yes this person appears over extended.
It was interesting that this person dictated their own version of the happy clause, they did not use that name, (30 day notice and pay 2 months), and expected that to be in the lease because they had that before in a lease. I know my state"s property code and applied it. My eviction/small claims attorney has not reviewed my lease but he made me aware of a number of things I should be doing and not doing. I figured the LPA lease was good as is, customized for my state.
This SFH has rented for the last ten years at about the same rent. The rent has not been increased and there is a good discount for military. It is at market value, or a little below, based on my neighborhood comps and several on-line rent estimating services including section 8. No I don't take section 8. If I was to add appliances I would have to move up to the next pricing tier and then it would not be competitive in that tier. I offer some things few other properties do: I accept small pets and have lots of mature trees and shrubs surrounding the house, corner lot and cul-de-sac in the fastest growing area of this city The house is older and for only about $300.00 more in monthly rent you can get a much newer house with appliances and absolutely no landscaping, except for a mile of grass that requires mowing and a lot of water (we are in a drought here). It seems that renters here don't care about landscaping; they only care how snazzy the interior is. Well, go pay an extra $300.00 per month!
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Re: One Hour And 30 Minutes
by anon
on May 24, 2015 @21:37
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This potential tenant is not worth the time of day. Move on or your life will be miserable.
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Re: One Hour And 30 Minutes
by Anonymous
on May 26, 2015 @17:39
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They've read and understand your lease, and can tell just how oppressive it is to tenants. Nope. Can't have that. Better move on to the next applicant who can't understand the lease.
Seriously, owners get fees and costs even if they lose? Get real.
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