Q:How much is the rental fee and who pays it?
A:We charge a one month rental fee to the tenant. This is paid at the lease signing. Most landlords require the security deposit at the lease signing also. Sometimes the landlords are willing to wait until the tenants get the keys to collect the rent. At that time the rent usually must be paid in cash or the check should have cleared.
Q:Why does the tenant pay the fee? How about the landlord paying it?
A:On Long Island, we have a supply and demand situation. Too much demand and not enough supply. The landlords don't need to pay anything when the brokers are volunteering to pay for advertising and charge a fee to the tenant. And if the landlord advertises without a broker, customers are lined up and practically breaking the door down.
Q: Hi John,
I have an apartment that always rents fast. This time it has been sitting for 2 months. The agent told me I can get $1,500. 2months ago and I'm still waiting. Last year it was rented for $1,150. What's going on? Alice
These past 2 years we had homesellers getting almost any price they asked. Many real estate agents were all over it actually outbidding eachother for the listings. Unfortunately a low supply of listings can cause this type of inflation of prices. The majority of "rental agents" really specialize in home sales. Many of these people are not landlords themselves and will never see the landlord again. So, if they can make a quick rental fee, the bigger the better! Or is it? Not for the landlord! Don't let greed cost you in the long run.
The missing elements they usually forget about when maximizing the price are:
1. Quality screening (For agents, that takes away the chances of making a quick and easy deal on your rental?)
2. Rental longevity (Good tenants don't stay long where they feel gouged on the rent. Also, many of these high paying tenants are now in eviction court . Some just wanted to get in and never intended to keep paying.)
Q:My tenant gave me 1 week notice to move. This will cause a vacancy for next month. Can I keep the 1 month security deposit?
A:I would. You might even be entitled to more money than the deposit if the tenant left damages. The legal minimum amount of notice to vacate is 30 days and it should be in writing to be enforcable. I make my tenants give notice in writing because I don't want to rely only on their word that they are leaving and when.
Q:Hi. I listed my apartment rental with a broker. Is it legal for me to discriminate against Section 8? The broker told me I have to take her people and fill out all this paperwork for social services. It seems thats all they keep bringing me. Arlene, Merrick
A:Hi Arlene. Yes it is legal to discriminate based on financial qualifications. You may not feel secure enough if the tenant must rely on assistance to pay the rent. Also, I'd like to mention another point about section 8 that I learned the hard way. If they require you to sign their gov't lease in addition to your own, yours will be nullified and you will be bound by the section 8 lease and all the pro-tenant rules it may have. The eviction procedure can also be a bit more complicated.
If your rental is in an area where you won't be forced to take tenants with assistance, try to hold out for a qualified tenant who can handle their own rent. If the price needs adjusting, do it. Piece of mind and a good tenant is really worth it in the long run!
Q:I am so angry right now! I've already lost 2 months rent and now I am about to lose November too! I thought I had it rented twice and each time the people held us up. Said they had to get back to us about the money. Why can't people keep their word? I had 3 different brokers including Rentals Only and I still have an empty apartment. I have one of the nicest apartments I have ever seen. I know I can get my price. Jackie Jones(Not my real Name)
A:Hi, "Jackie". You're not the only one feeling that kind of frustration. Imagine how I feel when I keep telling you the price is about $300. too high! You are right- House values did go up. BUT peoples' income did not increase the same way. The people who would be good tenants for you will not or can not pay what you're asking. Don't you think in an area with limited rentals like ours, they'd be beating the door down if the price was in reason? Of course they would. The rentals with good prices rent fast. It just doesn't pay to get TOP DOLLAR if you have to endure months of vacancies trying to get it. Remember this quote:
"Bulls make money. Bears make money. Hogs get slaughtered." - I don't know who said it first, but it's so true. Good luck.
|The rental forms on this page are all completely free for immediate use to assist you in various landlord and tenant situations. Just click on the ones you want and download them. All forms are in Adobe Acrobat format. If you don't already have it, you can download Acrobat Reader for free.|
This is one of the popular Rental Binders used by many Realtors. Similar versions of this form are used by landlords and real estate agents across the US. Many people actually use it as a basic rental agreement! It's not really meant to be a rental agreement or rental application, but is a pre-contract form used as a binder receipt to show an offer has been made with an earnest money deposit. Upon written acceptance of the offer by the owner/agent of the rental, it becomes a binder, whereby it is agreed that the rental will not be rented to anyone else before the agreed lease signing date. When not using the LPA Rental Application, this form is especially helpful to rental agents who collect their real estate commission from the tenant because it provides for a written agreement of the rental commission.
Sometimes your tenant doesn't really grasp the consequenses of a full blown eviction. This eviction letter explains the immediate and future drawbacks to the tenant caused by the process of eviction and it's aftermath.
Collect your rent in cash? Whether it's in cash or check, feel free to print up your blank rent receipts right here.
This free form is now required by HUD on all housing built before 1978. Landlords and real estate agents must disclose whether or not they have knowledge of the existance of any lead base paint hazards on the premises.
This booklet explains to tenants in detail all the hazards associated with lead paint. It must be given to tenants when they rent pre-1978 real estate. You can view the entire booklet here through Adobe Acrobat Reader. You can also print it on normal letter size paper and put the booklet together. After printing, you can also reproduce larger quantities of it on a copy machine in color or in black and white.
Even though this is not a "landlord form", it is useful and helpful legal information for anyone who owes money. Even landlords are in debt and need to know what to do when creditors infringe on your legal rights.
View or print the State Specific Notice Period Chart to determine the proper amount of days notice needed to cure the default for non payment of rent. Used for Notice to Pay Rent or Quit form.
This is a standard lease addendum form used for making additional information or clauses a part of the lease. When meeting with the tenants to do a lease signing, we often think of certain rules or clauses we'd like to add into the lease agreement. Most leases and rental agreements do not provide room for extra lease clauses (unless you are using The LPA Lease Agreement in word processor format) The lease addendum form can easily be filled in at the time of lease signing with topics that are important to you that may not be already included in the lease agreement form. It's a handy form to have in your folder if the need arises to add any special clauses to your lease.
has become an important time and money saver. We send this form to the tenants about a week or two before they vacate. It reminds them specifically of certain tasks and cleaning they should perform in order to get a full security refund. This letter instructs the tenants how to lock up and secure the rental until it can be inspected by the landlord/ management, and also where and how the tenants should return all keys.
We have found this form to be very effective and it helps tenants to be more cooperative on the way out.
Is a convenient and helpful touch appreciated by many tenants. It is a form for you to provide new tenants with important telephone numbers and information relating to the rental and neighborhood they are about to reside in.
Most tenants should not be allowed to paint. Sometimes it can be a tremendous relief for the landlord not to have to deal with painting, though. If you want your tenants to do the painting, it may be helpful to have them follow some instructions on how you want it done. Many of us have seen just what some tenants will do with a paintbrush!
Is a form that shows a measured reading of fuel so that the landlord can charge the new tenant fairly for the oil being conveyed to the new tenant with the rental property.
Is an addendum to the lease agreement. It specifically covers the tenant's responsibilities concerning the use of a waterbed in the dwelling.
Sometimes a tenant may request a letter of recommendation, and you have to sit down and compose a letter. Some of us are more than happy to write letters, while many landlords find themselves overwhelmed with too many tasks to accomplish at once. This is a time saving letter for tenant recomendations.
In the event you refund security to a tenant in person, this form is a receipt and a release of any future claims by the tenant.
The Key Receipt is a simple receipt signed by the management/landlord given to the tenant upon return of keys to the rental. Many landlords require the use of a key receipt in order to document the official return of possession of the premises.
This is a management form that many management companies and landlords use whenever performing repairs or work on an occupied or unoccupied rental. When it is occupied it is preferable to have the tenant sign the work order as an acknowledgement that the work is being done. It is also wise to document work agreed to when employing a handyman to do work on your rentals.