December 14, 2022 at 10:22 am
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Justin Becker ·
Comments Off on How to Pay Rent for an Apartment
Booking that dream apartment is an important milestone, but you have to consider a lot of factors before the final signing. The most important of these is the issue of paying rent.
The initial security deposit, first and last month’s rent payment, and other apartment move-in fees also count – but most of these are just at the beginning of the lease agreement. The monthly rent will take out a large chunk out of a tenant’s gross income each month, so it needs careful consideration before renting an apartment.
Several Ways to Pay Rent on an Apartment
As a potential tenant, you need to ensure that the matter of rent payments is sorted before signing on the dotted line. Your potential property manager or apartment complex might already have a set of rules on the matter.
Know the Options
It helps to know the various options available for occupying a rental property. This way, you can be sure of having enough money to make the rent payments each year, saving embarrassment and possible late fees. It will also help to budget for the future, which can be a great help with rising costs everywhere.
How to Pay Rent for an Apartment
There are several solutions available for facilitating regular rent payments to your property owner or landlord. Whether you are a first-time apartment renter or not, knowing about these solutions can really help out.
You may also be wondering if you should rent a 1-bedroom apartment, have only a shared apartment, or live in studio apartments.
Wondering what the choices are and which ones are the most beneficial?
Let’s find out now!
1. Pay Rent Online
A large percentage of American renters are behind on their rent payments, but an online system helps to keep track of these issues. There might be different systems available. They usually entail the tenants putting in the required information and making the payment without having to go anywhere.
Features
Online rent payment services also provide features such as reminders, notifications, warnings, and other automated nudges. Tenants might even be able to link their bank account to the service and send proof of a direct deposit once they make the payment.
Saves Time and Hassle
When landlords or property managers set up an online rent payment service, this shows that they are valuing the tenants’ time and peace of mind. There might be a small fee for such services, but that should not matter if the dealing is smooth.
2. In-Person Rent Payment
Some apartment communities have a landlord’s leasing office on-site or very near the main property. If you are considering such a place, you would probably appreciate the convenience. Not only should it be easy to submit the rental application, but you can also make your payments directly to the office. This may be in the form of a personal check, a money order, or even cash.
Method of Payment
The exact method of payment here will depend on the apartment management. However, this should not be the only means of rent collection. You might be traveling at times or busy with the holidays. Many apartment communities will have some sort of alternative, so make sure to ask your rental agency and the property management before committing.
3. A Mailed Check or Money Order
As a tenant, you can mail in a money order or check to your landlord. This could be a physical check or one generated through your bank’s services.
The Downside
While this is a reliable and traditional method most of the time, it does make for a lot of frustration and delay at several points. The weather might not allow timely mail delivery or affect the operating hours of the post office. The same goes for the holiday season and many other factors.
Where Can You Get a Money Order?
You don’t necessarily have to visit the bank to get a money order. They are a fairly old means of payment, but this option might still be available at check-cashing stores, the USPS, convenience stores, large grocery stores, pharmacies, and payday loan stores.
If you do pay by money order, make sure that your name and the landlord’s name are both on the document.
4. Electronic Transfers
Automatic Clearing Housing (ACH) electronic transfers are the most common option here. Some banks may provide such services, however your landlord does need to coordinate the system with their own bank account as well.
Fees
If you do go for this process, keep in mind that it will require certain information and updates over the years. While the service itself is convenient, it can become problematic if the information is not regularly updated. Banks may also charge a high fee for such services, but it varies according to location and branch.
5. Online Money Transfer Services
There are several money transfer services that make it both easy and safe for tenants to pay their rent. These usually require just an email address shared from the recipient’s side. Let’s have a look at some of the most popular examples of such services:
Zelle
This is quite a common method of transferring funds to and from various bank accounts. However, there are a few drawbacks to this service.
Zelle isn’t available for many business and some personal accounts. This means that while it may work for you, it may not work well for your landlords. You will have to ensure that the other party is willing and able to accept such payments before making this your default method.
Venmo
This is another popular payment method performed through an app. However, its popularity is usually due to the ease in which friends can pay each other back for a shared meal or coffee at a restaurant.
The Downside
Venmo might work for rent payments, if there is no other option, but it is far from the best method. That is because the service providers don’t offer protection against any kind of errors. In case you use an incorrect Venmo address, there is no way to get the money back unless the recipient is kind enough to send it back. Plus, there are transaction fees if you are using a business account.
Apple or Google Pay
These payment methods are yet another means of paying your rent online. They are convenient if you already use services from Apple or Google. However, your landlord might not be updated on either options or familiar with their interfaces.
Plus, Apple Pay requires an Apple device to accept any payments. If your landlord does not have an Apple device or is outsourcing their rent collection work, this could be a frustrating obstacle.
Electronic Invoice Platforms
Just a few examples of electronic invoice platforms are Square, Stripe, and PayPal. These electronic platforms have additional features, such as reminders for paying rent and tracking systems for the payment timings.
The Downsides
On the downside, though, there are some considerable transaction fees with these services. Since they can really add up, landlords may not want to go for such services.
There are also some delays when you use such invoice platforms. These could be up to three business days or even longer. The delays could cause issues in bookkeeping and cash flow on both sides.
A Bit More About Online Payment Platforms
These online payments are also called peer-to-peer or P2P payments. The means of payment is usually your bank account, credit card, or debit card.
When it is time to pay your landlord, you can simply enter their email address, mobile number, or other relevant information. Then, type in the required amount and transfer the funds. Debit card or credit card payments usually have an attached fee.
Why Might Online Payment Be the Best Option?
While these payment methods may not be the most ideal option, they do have undeniable advantages. The greatest of these is that there is no need to physically go to an office or bank to pay rent. You also do not have to go through the hassle of paying rent by mail, which could be subject to unpredictable delays.
6. Cashier’s Checks or Bank Drafts
These checks or bank drafts are physical paper payment forms that you can get from a relevant financial institution. This could be a bank or credit union, which will write the cashier’s checks and bank drafts and guarantee that the landlord will be able to cash them in.
The Pros
Unlike a personal check, these cashier checks and bank drafts won’t bounce. They are written against the funds of the credit union, not the tenant. However, the tenants should have enough money in their bank account to cover the monthly rent. Only after withdrawing the amount does the bank write the cashier’s check. This way, there won’t be insufficient funds against the check.
7. Direct Deposit
A direct deposit is a method that allows you to electronically pay rent (or any other payment) directly into the other party’s bank account. This method differs from EMTs or email money transfers. The latter only requires an email address to send the money, while a direct deposit requires the sender to have the account number of the recipient.
Credibility
While this is a viable payment method, it will only be an option if you and the landlord have established trust in your relationship. For a regular landlord-tenant connection, account numbers are usually not shared due to the risk factor of such personal information.
8. Certified Checks
Certified checks are issued by a financial institution. They are signed and stamped as proof of verification. They are a bit like cashier’s checks, but there is a difference.
Basically, the tenant will go to the bank and ask them to make a certified check for making the rent payment. The bank can then charge a small fee for making this check as part of their services. They will ascertain that the tenant really has enough funds in their account for paying the rent.
Good for Landlords
Unlike the cashier’s checks, the bank does not withdraw the funds in the tenant’s account here. It simply issues the check that has proof of the funds. This way, landlords will have more confidence that they will get their payment through this check.
Are Certified Checks Reliable?
These checks are more reliable and secure than regular personal checks. However, they are less secure than bank drafts, money orders, and cashier’s checks. Some banks will hold the required funds to make sure that the certified checks are cleared, so that makes the process more reliable.
Its Less Convenient
While this method might help you build a trust relationship with your landlord, it is not the most convenient option. To get the certified check, you will have to visit the bank’s branch in person. A monthly visit to the bank can get pretty inconvenient, especially around the holidays or when you are traveling.
Why Should You Go for Certified Checks?
Some landlords may require certified checks or something more secure for certain tenants. They might do this as part of their policy or due to the low credit score of a tenant. You may also have to provide proof of income when renting as a self-employed person.
The Takeaway
When you enter an apartment lease agreement with a landlord or property manager, you usually have to go through a credit check. There should also be proof of annual income, evaluation of your credit score, and other aspects to consider.
Keep in mind that the lease agreement is a legal document, so you should be absolutely sure of being able to cover both rent and moving expenses. If this is your first time moving, it is worth knowing about the deductions from your security deposit.
The payment methods above may not be all the available options for your particular situation. Some might be easier and more secure than others. The convenience factor is also important. In some cases, your company might rent an apartment for your accommodation needs. No matter what you think your rent payment situation might be, always make sure of the details before signing anything.
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December 5, 2022 at 9:56 am
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Justin Becker ·
Comments Off on Can My Company Rent an Apartment for Me?
For some careers and positions, it is not unusual for employers to offer a housing provision for their employees. At times, they might pay rent or even rent an apartment on the behalf of that person and their family. This is a pretty good setup for both parties, at least in most situations.
So, can your company do something similar for you? The answer could be “yes,” but it depends on who you work for. Small businesses usually won’t be able to afford such a benefit, but larger organizations may have employer housing for you.
Why Would a Company Rent an Apartment for Their Employees?
There are many reasons why an employer company may want to provide something more than a designated workplace for some employees. Here are some of them now:
Convenience
For some companies, the business purposes require having staff on-site. Think about universities and other institutes offering higher education.
Employers may want to attract certain employees and keep them within their workforce for as long as possible. At certain levels, a higher salary may not be good enough. So, providing a new residence is a major benefit to ensure employee loyalty.
Benefits to the Company
Some workplaces might find it easier to conduct business if they have certain employees living nearby or on-site. For instance, a property owner may require someone from the management company to be on the premises at all hours if they are running an apartment complex. This gives them a personal guarantee that someone responsible will be present to manage all situations at any hour of the day.
Helping Out During Hardship
If an employee is facing undue hardship at a certain point, they might not be able to find a suitable rental property for their needs. This is most likely in the case of disability.
The employee might be an old and loyal one for the company, and still valuable for their services in spite of their hardship. In such cases, their employers may consider paying rent for more accessible accommodation within local zoning laws. This will ensure that the company retains their employee and the employee can keep working despite their hardship.
Temporary Working Location
If your job requires you to work in a temporary location for some time, they might pay rent for that time. This way, you wouldn’t have to worry about how much income is required to rent an apartment in that area.
For example, an employee in Michigan might have a permanent residence in the city of Detroit. However, if their company has to send them to work in Phoenix for some time, they will pay rent for all accommodation required during that period.
Since employee benefits are usually considered as part of the income you earn, they are also taxed by the government. However, employee housing might not be taxed in certain situations. Even in such cases, you should still be informed about what bills to expect when renting an apartment.
Can My Company Rent an Apartment for Me?
It might be possible to provide income for rent when self-employed. However, it is a great load off your back when your employer agrees to rent an apartment for you. Paying rent is one of the biggest monthly expenses for many individuals. So, saving on that hassle will be an attractive perk of any job.
Here are the ways in which your employer might choose to rent an apartment or arrange some other type of rental property for your accommodation needs:
1. Providing Housing for the Benefit of the Employer
If an employer wants to provide housing for their own business purposes, they might be able to get taxes waived for it. This applies in the following situations:
- The housing is provided for the employers’ business interests – there should be a direct link between the employee living in an apartment and their role at the company
- It is required in the employment contract and the employee accepts that money in lieu of an apartment will not be viable
- The apartment is located on the company’s business premises (the employer should also own these premises), with the apartment being an integral section of the property
The Necessary Documentation
If the apartment is to be nontaxable, the employer needs to file some documentation. The requirements may vary from one location to another, but we may expect to provide at least the following:
- The employee’s responsibilities within the employing company
- An apartment description
- The various reasons why the employee needs an apartment in order to properly perform their work at the company
- The terms in the contract between employer and employee
- A thorough list of all services and utilities (taxable and non-taxable) that the employee receives while residing in the apartment
What if the Apartment is Not on the Business Premises?
If the apartment is outside of business premises, there are additional required steps. In this case, you will have to make a log of the activities in the unit. For tax purposes, there needs to be evidence that the apartment is utilized for work-related activities.
The apartment may also be under a management company rather than the employing business. Again, the exact requirements will depend on where the apartment is located and the contract between the employer and business.
2. The Employee is Working in a Temporary Location
We have already talked about how a company might pay rent for an apartment if the employee is in a temporary work location. Again, this setup might be subject to tax exemptions. However, there are several aspects to consider before anyone can get these benefits:
- The required work is at a considerable distance from the employee’s permanent or regular residence; this usually means that it needs to be outside the area or even the whole city where the employee usually works
- The project or assignment must not be planned for a longer time than one year; if the employers are not sure about the end time of the work or want the employee to go for more than a year, the apartment will count as a regular tax home (in this case, the rent paid will fall under taxable criteria).
Additional Benefits
- The main or tax home will be determined according to the number of hours, source of income, and the activity level of the employee at the various locations. For instance, if they have to live in a Michigan apartment for nine months with an income of $50,000, but have a permanent residence in California with $20,000 earned during the rest of the year—the Michigan unit is not tax-free.
- Regarding the last point, the Michigan apartment might get a tax-free treatment if the employee is hired for a certain project that does not extend to a year. In this case, they will have to prove that they have a tax home in California already.
3. The Provided Apartment is within an Educational Campus
Several academic health centers or higher educational institutions prefer to have some of their staff on premises at all times. Part of the university experience is having professors living on the same campus and being easily available for student interaction, events, etc. The employers in such institutions may provide already paid-for apartments or offer discounted rental rates.
Tax Exemptions
There will usually be tax exemptions for approved apartments if they are situated in the premises of an educational organization. However, this exemption will usually be for the amount in excess of the lesser of the following:
- 5% of the approved apartment’s appraised value
- The average rent for the housing or the fair market value of property that the educational institution provides
As an example, someone who works in a college (that owns apartments in or near the premises) might be able to live in a unit with a low rental rate. Around 5% of the apartment’s appraised value can be counted as a nontaxable benefit in such cases.
4. Considering Housing as a Fringe Benefit
An employer may provide housing as part of the fringe benefits offered to desirable employees. They may also do this to retain an employee who is considering a resignation due to housing issues.
In both these cases, the IRS will usually consider the value of the housing as a taxable benefit. This will be part of the employee’s taxable income. Whether it is housing that the employer pays rent for or a housing allowance, it needs to be reported and included while filing taxes.
Some employers may offer a choice between a higher pay and housing benefits for their employees. Even in this situation, the lodging will be taxable due to the choice available.
5. Taxes on Employer-Provided Housing
If the housing an employer provided does not meet the IRS requirements that are necessary to exclude it from wages, it will fall under taxable fringe benefits. These might give rise to taxes such as:
- Federal income tax
- Medicare tax
- Social Security tax
- Federal unemployment (FUTA) tax
In some states, the general valuation rule applies when we want to determine fringe benefit values. This means that we have to look at the fair market value of housing at that point. This is possible by doing the following:
- Finding out the value of similar housing within the same area
- Asking a realtor to estimate the value of the housing
- Getting a property appraisal
6. Employees in a Tenant Status
If an employer owns some property, they might want to rent it out to their employee. For this to be a housing benefit, the rent should be reduced or eliminated altogether. They may also simply require the tenant/employee to pay the security deposit or just waive all fees.
In such cases, it is best to make a proper signed agreement between the landlord and tenant. This process should also be applied to each employee who gets the housing benefit. The lease agreement needs to adhere to the local laws for regular rental property. Learn how to read an apartment lease here.
The Takeaway
Having your rent paid by your employing company might be a dream come true for many folks. However, this does mean that you may have to settle for a relatively lower salary or relocate according to the company’s needs. However, it can all be worth it, especially if you get one of the top 5 apartments in Oakland County with utilities included!
At the end of the day, you have to make sure that your work performance is up to the mark. A company may rent an apartment for a valuable employee, but they will also demand proper input in return. At the same time, you should also ensure retaining the security deposit and making sure there are no complaints from the property owner. Size may also be an issue, so do find out how to maximize space in a small apartment.
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November 21, 2022 at 10:43 am
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Justin Becker ·
Comments Off on How Long Does it Take to Move Apartments?
Living in an apartment has many perks. One of them is that they are relatively easier to pack up. When it is time to move to your new apartment, the moving process should not be as long and arduous as it is with a traditional house (see owning a house vs. renting an apartment). However, there are several factors that influence how long it will take to pack everything up and bring it to the new place.
Why Should You Ask ‘How Long Does it Take to Move Apartments?’
Before the closing date and the actual moving day, you have to make a lot of important decisions. Even if you have a studio or one bedroom apartment, a lot of stuff can accumulate over time.
By asking the question ‘how long does it take to move apartments’, you can start streamlining the moving process.
The Decisions
With a proper analysis, you can start making decisions about:
- Whether to hire professional movers, moving companies, etc.
- Where to save time and effort
- When to start packing up your old apartment
- Whether to set aside more time, especially if you’re moving to a new house
- Schedule time according to truck accessibility, apartment size, etc.
Along with the points above, make sure that you know about the expenses when moving into an apartment.
How Long Does it Take to Move Apartments?
When you tell your landlord about your intended move, don’t just give two weeks’ notice. Ideally, the porches of packing up and organizing your belongings should start six weeks before the move-out date. You may require more or less time than this, depending on the size of the rental property and other factors. One of those factors is if you’ll have movers help you pack your belongings; MoveBuddha offers a helpful cost guide that makes it easy to figure out what you should budget for this service, as well as what to expect from the process.
Have you found just the right apartment for your next stage in life? Wondering how long it will take so that you can plan ahead? Check out the following factors and keep them in mind!
1. The Intended Time Frame
If you are hiring professional movers, they will probably provide you some guidelines according to your apartment size. They might look something like this:
- Two to three hours for a studio apartment or one bedroom apartment
- Three to five hours for a two bedroom apartment
- Up to seven hours for a three to four bedroom apartment
- Five bedroom apartments and larger might take around eight to ten hours, or more
Estimates
The guidelines above are estimates based on the standard sizes of apartments. If a certain apartment complex or community has larger or smaller sizes, moving companies will probably revise the estimated times.
Some apartments may also have unique features like long hallways, walk-in closets, etc. These might increase the packing and moving time.
General Time Frames
With the proper time frame, companies can better gauge how many hours and manpower they need to dedicate to a move. They will then give you quotes accordingly.
May Not Take Everything into Account
The estimated time frames from a company may not include every corner of your old home. Make sure to get quotes for different levels of services, if possible. These could include:
When you get to your destination, these guidelines on what to know about moving into an apartment will help out. The movers you hire may not take into account certain details, like cleaning your apartment. So, make sure to include that during initial discussions.
2. The Details of Moving
Many aspects of a move might speed up the overall process or slow it down. Let’s have a quick look at them so you can see if they are applicable to your particular situation:
The Internal Aspects
- Apartment Size: This one is pretty obvious; unless there is a hoarding problem at hand, a smaller apartment is usually quicker to pack up and move out of than a larger one
- The Boxes: If you hire movers just to load and unload boxes, keep the boxes ready beforehand; the number of boxes will obviously affect the time it takes to handle them
Furniture
- Furniture: Some people have a sparsely furnished apartment, while others don’t have much; the size of the furniture pieces also matters (learn how to arrange furniture in a small living room apartment here)
- Assembling and Disassembling: Your furniture may require a lot of dissembling, which will take up time both while packing up and setting up the new place
The External Aspects
- Truck Accessibility: If the movers have to walk far to reach the truck, the whole move might take much longer than anticipated
- Weather Issues: Rainy weather, snow, sleet, and other factors can slow down the moving process
Fragile Items, Stairs, and Walkways
- Items to Pack: Other than the furniture, you also have to pack loose items and fragile pieces very carefully; the more you have, the longer things will take
- How many flights of stairs you will have to handle in both the new and old buildings
- Accessibility of a working elevator and its size
- The presence of walkways or long hallways in both places
The Assistance and Distance
- How many people are helping you to move-out and move-in – the more you have, the quicker things should be (although it really depends on how reliable and experienced they are)
- The distance you have to travel (including back and forth trips, if applicable), with traffic and weather conditions potentially delaying the route
Take a Breath
Even after you have considered all these factors in your planning, allow for a little extra time. This leeway period can be a blessing in case there is an unforeseen event that slows everything down. Those extra two weeks or three weeks will also give you a chance to plan and maximize space in a small apartment, if necessary.
3. Make a Timeline
If it’s been some time since your last move, you may have forgotten certain lessons from any past experiences. Plus, you may have either accumulated more stuff than before or downsized to a more minimalist lifestyle. With this in mind, you may not know just what steps to take and how long everything will take.
To make things a little easier for yourself, make a timeline and plan for the impending move:
Locate Your New Apartment
If you do not want to renew your current lease, start your apartment search a few months in advance. The end goal should be to book a place at least a month before the end date of your lease.
Informing Your Landlord
Most landlords will require a notice of at least 30 days. Yours might have other terms; in some cases, the notice period is around 90 days. To avoid penalties and retain your security deposit, make sure to check your contract and plan accordingly.
Hire a Company
When you book your new apartment, hire professional movers for the intended moving dates. Once you have a set time period for moving and experienced movers helping out, the process will be less stressful.
Organize and Declutter
Take inventory of what you have right now and declutter your belongings as much as possible. Organize everything into three or four piles – keep, throw away, and donate/sell. Ideally, one should begin this process six weeks before moving out (see: how to declutter your apartment).
Changing the Address
You will have to transfer utilities and submit your change of address as soon as possible. This step will ensure that your mail gets to the new address. Plus, you will have the power and heat working properly when the move-in is complete. Start this process around two to three weeks before the moving date.
Start Packing
Your packing should begin around a month before you plan to move. This way, you won’t be so stressed a few days before the big day. Spend just a few minutes packing one or two boxes; leave one empty for the essentials that you have to keep out until the last moment.
Clean Up
If you want to get your security deposit back from your previous landlord, start a deep clean some days before moving out. Not only will this increase your chances of getting most or all of the deposit, but will also end things on a positive note (see: how to deep clean an apartment). You do not want to burn bridges or leave your previous landlord on unpleasant terms.
Consider the following steps while deep cleaning your old apartment:
- Use putty to fill up nail holes
- Use a magic eraser to do away with scuff marks
- Clean and scrub the bathroom, especially the fixtures and tub
- After emptying the cabinets, wipe them and let dry before closing their doors
The Takeaway
At the end of the day, it is best to plan ahead and not leave anything to chance if possible. You may get a lot of advice from friends and family members. Unless they have had a similar moving experience fairly recently – with apartment sizes, finances, and furniture comparable to yours, they are probably not qualified to guide you properly.
Instead, go for professional movers and packers who can help in making the whole experience as smooth as possible. Once you are settled in your new place, don’t forget to read up on how to get your apartment to smell good!
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November 14, 2022 at 11:26 am
·
Justin Becker ·
Comments Off on What Happens if You Fail an Apartment Inspection?
Apartment inspections can be stressful and tense for the occupant. You typically go through an apartment inspection when it is time to renew the lease or when moving out. Since your lease agreement or your security deposit could be riding on that inspection, it is important to know what will happen during and after it.
Why Pass an Apartment Inspection?
The apartment inspection will hopefully get you your security deposit back, but it is also for helping out the landlord, property manager, and any potential future tenants. Nobody wants broken appliances or broken windows in the apartment they are renting out.
This is why you, as a tenant or former tenant, have to keep up with the terms of the lease agreement. Part of this will outline what you have to do to maintain the apartment and make it presentable on a regular basis. Learn how to read an apartment lease here.
What Does a Landlord Look for in an Apartment Inspection?
The property manager gets the reassurance that they will not have to pay for any deep cleaning services, repair large broken appliances, or deal with anything other than normal wear and tear in an apartment.
Since this is much more than a routine inspection, the landlord must look for serious issues and ensure that the apartment is in good shape.
Here are a few specific points that you should consider beforehand:
Any signs of breaching the lease
The landlord or manager will check for pet hair, which might be a sign that you are breaking the no-pets clause. If the lease does not allow smoking indoors and you break that clause, the signs will be pretty evident. There will be a certain kind of odor, the window panes might be yellow, and there might be tobacco stains on the furniture.
Broken appliances
This applies to the appliances that were in the apartment on the move-in date. While normal wear and tear will break or damage some appliances over time, most landlords can only hold you responsible if the damage was out of the ordinary.
Broken walls or windows
Both of these are issues that present a threat to the safety and comfort of a home. They need urgent fixing before renewing any lease or allowing a new tenant to come in.
Warped or otherwise damaged flooring
Damaged floors are not just unsightly, but they can also present a tripping risk. Units with hardwood floors are more vulnerable to this issue. That is why it makes sense to keep an eye out.
What Happens if You Fail an Apartment Inspection?
Now comes the big question of what will happen if we fail an apartment inspection. Wondering what you should brace yourself for? Let’s have a look.
1. Difficulties in Finding a New Home
If the apartment inspection took place due to your action of moving out, failing could make it harder to find a new place to live. Your property manager or landlord may not give a recommendation to future authorities. A lot of places require your rental history, so you may not even stay on the list of potential new candidates for your desired apartment.
2. Forfeiting the Security Deposit
As we have mentioned before, you may not get your security deposit back. Or, at the very least, you will not get all of it back. The landlord or manager could keep a part of it back in order to pay for the required cleaning of your apartment or repairs you have left in your wake.
That security deposit also will not come in handy towards getting your new apartment. In a nutshell, you would be back to square one and have to save up for a new deposit, first and last month’s rent, etc.
What To Do About It
At the end of the day, it is usually better to ensure that your security deposit for an apartment is refundable. Even if you can afford to lose it, it is not wise to leave your previous apartment on negative terms.
3. Lease Not Renewed
If you want to renew your lease, but fail the inspection, the owner might deny your request. This will leave you in the lurch, scrambling to find accommodation for the near future.
Here are a few ways to make sure you are not in the unenviable situation:
Before Signing the Lease
- Make sure to read the lease conditions before signing it in the very beginning
- Ask a lot of questions before the actual signing
- Make sure that each condition is clear and that you understand them completely
- See if you are willing to comply with each condition and can fulfill them all
Know About Further Expectations
- There might be the usual restrictions about indoor smoking and an apartment pet policy, but some unusual requirements as well – for instance, you might be expected to mow the lawn or not be allowed to grow certain plants
After Visiting the Apartment
- Make a list of any damage that was already there upon your move-in – stains on the wall, a cracked pane; it is even better if you took pictures and sent them to the manager right away. Keep them safe so that you have proof during the apartment inspection.
- Regular maintenance and cleaning to prevent permanent stains, broken things, etc.
Be Proactive to Avoid Failing the Apartment Inspection
If you have made some changes to make an apartment feel like home, use the right equipment to quickly repair the minor damage. Fill in any small holes you have made with spackling paste before the inspection, make sure to use painter’s tape during a painting project, invest in a steam cleaner, and so on.
4. Receiving a Written Notice
If you fail an apartment inspection, you will first get a written letter outlining all the deficiencies that cause the failure. If possible, you may request a re-inspection at a later date.
5. Annual Inspections and their Aftermath
Most apartment complexes have at least a yearly inspection. If you fail this, your reinspection will probably be scheduled for at least 35 days in the future. The actual repairs should take place within at least 30 days.
The Letter
The letter about the failed inspection should reach both the tenant and the property owner. This will ensure that the person in charge of the repairs should be aware of them well in time. If there are any emergency repairs to make (learn what is considered emergency maintenance in an apartment here), they might only get a grace period of 24 hours.
Responsibilities of the Owner
It is up to the property owners to ensure that all the repairs are up to date. They also have to make sure that the tenant or owner (whichever is required) is present when the repeat inspection takes place.
6. A Possible Abatement Status (for Some Areas)
If no one is present at the time and there is another failed inspection, the present unit will fall under the “Abatement” category. This means that the owner of the property will get a notice from the relevant inspection company about losing out on some assisted payments until the next month or until they can make the unit pass inspection.
Contract Termination
If the apartment stays in this status for too long, the landlord might get a termination letter. The tenant may then get a notice to look for housing elsewhere. In this case, the tenant will have to pay the entire contract rent after the contract termination date if they don’t leave the unit.
7. Paying Specific Fees
Instead of losing the security deposit (or if the deposit is not enough to cover the damage), you may have to pay specific fees after a failed inspection. Here are some examples:
Cleaning Fees
Growing mold, permanent stains, and other issues could lead to major cleaning fees on your part. To avoid this, you might want to perform a deep clean before the inspection yourself.
Smoking Fees
A lot of rented units have contract clauses that prevent tenants from smoking indoors. This makes sense, as smoking can lead to discoloration and damage as well as being a fire hazard. If there is evidence that you have broken this clause, you may need to pay up for cleaning, repairing, or even replacing certain items.
Paying for Water Damage
You may not be directly responsible for water damage caused by leaks, seepage, inclement weather, or weak structures. However, you are responsible for alerting the people in charge of repairing such issues. If you neglect this, you may have to deal with the damage on your own in order to avoid a failed inspection.
The Takeaway
Getting your security deposit back is a great perk of living in an apartment. This can help you with the deposit for a new apartment, or perhaps, even a down payment for your own home! If you want that deposit back or that lease renewed, though, this might be the time to get out that stain remover or call a professional to check out any damaged flooring.
One can’t really blame the landlord for wanting everything to be perfect for the next new tenant’s move-in date. If you do not want to suffer penalties for failing an apartment inspection, now is the time to repair, maintain, or work on anything outside of normal wear and tear. Here are a few maintenance tips for apartments that can help you pass that apartment inspection with flying colors!
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November 7, 2022 at 11:22 am
·
Justin Becker ·
Comments Off on What is Deducted from My Security Deposit?
Lease agreements are essential to the process of renting an apartment, and understanding each part of the lease agreement is equally important.
When you move into your new apartment, most landlords will have a rental agreement that includes language about a security deposit.
Much like you have the ability to purchase renters insurance, security deposits can serve as a bit of insurance for the landlord in case certain situations arise.
A security deposit, also often referred to as a damage deposit, is in place to allow a landlord to deduct items from the tenant that are detailed in a lease agreement.
The rest of this brief discussion will discuss exactly when landlords deduct items from a security deposit and what things the landlord can deduct from a security deposit.
What is Deducted from My Security Deposit?
A tenant’s security deposit is funds deposited upfront to protect the rental unit from damages or unpaid rent (more on this shortly).
A tenant security deposit usually equals either the first month’s rent or a month and half’s worth of rent.
Security deposits can help when individuals vacate before their lease is up, as it benefits a property owner or landlord to cover some unpaid rent when this occurs.
Security deposits are extremely common, and it would be difficult to find an apartment or any rental situation that does not require one.
In fact, security deposit laws even exist in most states. The security deposit laws will help dictate how a security deposit can be used by the landlord and what situations require the landlord to return it to the tenant when the tenant leaves or moves.
Many items cause concern for renters when it comes to knowing if landlords will deduct from a security deposit.
Let’s do a full breakdown of everything that a landlord could deduct from a security deposit and what you can potentially do to avoid it happening.
Unpaid Rent and Unpaid Utilities are Normally Deducted from Security Deposits
This is not overly surprising to hear. Leaving your apartment early or before all rent due has been paid can result in deductions from your security deposit.
It is one of the biggest reasons security deposits exist outside of significant damages and cleaning costs. Learn how to reduce dust in an apartment here.
Suppose you intend on leaving your apartment early or even on the agreed-upon date and want your full security deposit returned to you. In that case, you will want to ensure your rent is paid in full.
It is also important to note that a security deposit only works one way between the tenant and the landlord. While the landlord can hold funds from your security deposit to cover late fees and unpaid rent, the tenant cannot opt to use a security deposit to cover rent. The same is the case when it comes to unpaid utilities.
Suppose you still need to pay your electric bill, water bill, gas bill, or other utilities that are expected of you as detailed in your lease agreement. In that case, your landlord can attempt to cover these outstanding charges using your security deposit.
Again, you can not opt to use your security deposit to pay these utility bills from your side, and late fees could be levied for late payments.
Outside of unpaid rent and utilities, the most common items to see deductions or loss of a security deposit fall under the category of damages.
Cost for Damages within the Apartment Will Come Out of Your Security Deposit
When you rent an apartment, it is not unreasonable for the property owner or landlord to expect the property or apartment to be returned to them in the condition it was rented.
Hence, significant damages, unnecessary or extensive messes, or even large left behind items may end up dinging your security deposit or potentially removing all possibility of a security deposit being returned to you all together, depending on the extent of the damages.
Normal wear and tear is expected and will not be deducted from your security deposit. This can include items such as faded paint and worn carpet after so many years.
On the other hand, it is easy to understand the difference between normal wear and tear and significant repairs or items that lean more towards negligence by the tenant.
Items like this could include things such as damaged or broken appliances, holes in walls, or burn marks in carpet.
Items to Look Out For
When you move into your apartment, it would be a good idea to test and ensure everything is working correctly and document the testing.
Let’s use appliances as an example. It is advised, before vacating an apartment, that with appliances you take a moment and determine if it could be considered normal wear and tear or something that will need repair.
For instance, A/C units are known to have a certain lifespan, and it is possible that needing it to be replaced was not your fault. Also, dishwashers can become clogged in the hoses, which is not necessarily your fault.
You get the point. Appliances, unless it’s clear as day that it was damaged due to negligence, are an item that is worth discussing with a landlord before allowing your security deposit to be taken to cover said damages.
Other damages that may ding your security deposit include, but are not limited to:
● Ripped or Stained Carpet
● Stains from Pets (always review the apartment pet policy)
● Broken Windows
● Broken Doors
● Mixing Fixtures
● Large Messes
● Drywall Repairs
The next most common question regarding security deposits typically pertains to individuals who have kept their apartments in great shape and all bills are paid in full.
When will a Security Deposit Be Returned to the Tenant?
The good news is that the language for a security deposit being returned to a tenant is typically very clear and detailed within the apartment lease agreement.
While some states may have different time frames, the landlord in Michigan has 30 days to return a security deposit and send a breakdown of all the deductions to a tenant once they have vacated the premises.
Again, this assumes that any security deposit is left to be returned after all deductions. If there is no money left to be returned, then just an itemized statement outlining all of the deductions will be sent to the tenant.
The landlord will typically either give the option of either picking up the security deposit l payment or having it mailed to the tenant using their forwarding address.
The 30-day timeline may vary from state to state; so if you are curious or have questions about this, it is best to ask the landlord or hire a lawyer to review your apartment lease agreement.
The Takeaway: Take Care of Your Apartment if You Want Your Full Security Deposit Returned
Rental property owners must protect their properties, and security deposits are one way that help them do so.
On the flip side, security deposits can be a substantial amount of money. So, not having it returned when you vacate the property can be a significant loss.
Do a detailed walk-through of the apartment before signing your lease and take pictures and notes of any damages so you are not held responsible for them later.
Also do a detailed walk-through of the apartment when you vacate the property.
Ensure your utilities are paid in full and your rent is all caught up. You will typically be able to get your security deposit returned to you in full if you follow these directions.
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October 31, 2022 at 10:31 am
·
Justin Becker ·
Comments Off on How to Deep Clean an Apartment
Even though renting is not technically ownership of a property, one can argue that apartments are still significant investments and are not cheap.
I think we can all agree that we want to keep our apartments clean and tidy.
There are some unique advantages of renting an apartment, but that does not mean they don’t need a good deep cleaning from time to time.
Whether it is time for spring cleaning or you just need to get more organized, it’s time to use a little elbow grease and get down to business.
Having a deep cleaning checklist is a great start if you want to deep clean your apartment. A checklist will help you break down all the deep cleaning tasks that need to be completed.
Most of us take the time to at least stay relatively organized and tidy up, but it’s rarer to see a true deep clean performed. One in which you target several key areas. We are talking about a deep clean that requires a deep clean checklist and the right cleaning supplies to get the job done.
Not to worry. Today, we intend to cover not only what cleaning supplies you can use to complete a deep clean of your apartment, but we will also cover some of the areas to focus on when deep cleaning the apartment.
In short, we want to cover some essential deep cleaning tips.
Before diving into the cleaning supplies you will need to use when deep cleaning your apartment and what to focus on, let’s cover some basics.
How to Deep Clean an Apartment
Deep cleaning an apartment may seem easy, but, in all reality, not many likely know how to clean an apartment in the essential areas where it matters most.
The amount of work involved with deep cleaning will also depend on the size of an apartment.
Some of you may have different reasons for wanting to perform a deep clean. Maybe you plan to sublease your apartment and want the best chance of impressing a potential subletter. Maybe you are a long-term renter and want to perform a deep clean for your own satisfaction.
Regardless of the reason, it is essential to have the right supplies and a plan. Not only will you save time, but you will also perform the deep clean quickly and with great results.
To clean your apartment, you have a few checklist items you should get in order before beginning. Ultimately, this will help you clean your apartment more efficiently and effectively.
You can clean your apartment faster and better if you prepare before kick starting the process.
Standard Cleaning Materials that You May or May Not Need
When you embark on the deep cleaning process, you might be overwhelmed before you even begin.
Part of this is because you don’t know which cleaning supplies are best or which cleaning supplies you may or may not need.
Due to this, we decided to start with a quick list of some of the basic supplies that will make the deep clean much more straightforward.
Depending on what exactly needs the deep clean, you may or may not need some of these supplies.
Additionally, you may decide to swap some supplies with more modern cleaning tools. For example, with hard surface floors, some may prefer to use a steam mop or a Swiffer-wet jet.
While this is a viable approach and will get the job done, we wanted to keep the list as basic as possible.
You can find or purchase most of the items below at any store.
A good majority of the things you may already have sitting around in the apartment under a kitchen sink or stored away in a storage closet.
Let’s look at that list:
● Rubber Gloves
● Old Toothbrush
● Lemon Juice
● Distilled White Vinegar
● Disinfecting Wipes
● Hot Water or Warm Water
● White Vinegar
● Wood Cleaner
● Damp Cloth
● Scrub Brush
● Microfiber Cloth
● Paper Towels
● Other Home Remedies or Cleaning Solutions
● Dish Soap
● Glass Cleaner
● Baking Soda
Common Spots to Clean Inside Your Apartment
Now that we know what supplies will help us the most during the deep cleaning process, we need to move to the next step in the deep cleaning checklist.
You have your supplies gathered, but now you need an easy checklist of the areas inside the apartment where you need to focus the most time and effort. Especially for those genuinely trying to get the job done the right way.
These areas of the deep cleaning process are also for those trying to do a complete job with your deep cleaning and who want to hit the spots that most often get neglected.
None of the areas of the apartment we will cover below are listed in any order, and everything listed in this discussion should be considered and cleaned if it applies to you.
Let’s get down to business.
Garbage Disposal
Garbage disposals need some love, too. One of the best ways to clean a garbage disposal is to sprinkle ½ cup of baking soda into the drain. Then, add white vinegar and allow it to sit for 5-10 minutes. Next, power the garbage disposal with hot water running to drain the baking soda and white vinegar mix.
The baking soda and distilled white vinegar mix would have worked its magic during this timeframe, leaving the garbage disposal smelling and looking clean.
Kitchen and Bathroom Cabinets
When cleaning cabinets, the main thing you want to do is to make sure you clean all the dust off the surface. This is relatively easy, assuming it doesn’t require any potent chemicals.
Typically, a Pledge surface cleaner spray bottle and a damp microfiber cloth can quickly get the job done.
Shower, Shower Curtains, and Showerhead
Showers and toilets always tend to be the least favorite cleaning spots, and it is common for people to wait too long in between cleanings.
Nevertheless, it needs to be done. The good news is that deep cleaning a shower is not overly complicated.
Use a scrub brush and a cleaning solution, such as warm water and hydrogen peroxide. This mixture will do a great job cleaning mildew and mold, which is common in wet areas such as the shower.
Make sure to clean all the shower walls, grout lines, and tiles as well. It is also best to check the areas where the floor seals to the base of the shower. If a shower door is present, such as a glass in-and-out door, clean the edges and seal spots where water tends to build up.
It would help if you also used some white vinegar to clean your shower heads. This will aid in unclogging the showerhead and re-open the water flow, while removing the soap and water scum.
Lastly, be sure to wash your shower curtain per the directions provided by the manufacturer.
Ceiling Fans
Ceiling fans are one of the most common areas to neglect inside an apartment.
Out of sight and out of mind. Dust and dirt debris can easily begin to collect on the fan blades, so it is best to take the time to clean them during a deep clean.
A microfiber towel with some warm water will do the trick. Or, if you choose, you can use paper towels and pledge to clean the blades.
Hit both sides of the blades for the best results and clean the inside of the light fixture attached to the ceiling fan. Learn how to reduce dust in an apartment here.
Clean Windows, Mirrors, and Window Treatments
Glass cleaner and paper towels will be needed to complete this job, but this is one of the most satisfying parts of the deep cleaning process. It is very noticeable to see clean mirrors and windows in an apartment clear of smudge and smears.
If you have window treatments, it is also worth cleaning them during the deep clean. This will depend on the kind of window treatments you have, so be sure to follow the guidelines for your specific window treatments.
Toilet and Toilet Seat
Deep cleaning a toilet seat and toilet is another relatively easy deep cleaning task to complete.
Use some rubber gloves, paper towels, and white vinegar. The vinegar will help disinfect the toilet, while also removing any stains.
Light Fixtures
We touched on how cleaning ceiling fans is essential during the deep cleaning process because of how often they are neglected. Light fixtures also apply.
Light fixtures are typically straightforward to clean, as they require light dusting and an easy wipe-down with some warm dishwater and a little dish soap. Go around the apartment and hit each light fixture.
Garbage Cans and Recycling Bins
Depending on which floor of the apartment building you occupy, you may or may not have garbage cans to worry about cleaning.
With that said, deep cleaning your garbage cans is another super easy job. Make sure the garbage cans are entirely empty. Begin by rinsing the garbage can with warm water and dish soap. You can also use a mixture with some lemon juice to help with odor control.
Once the garbage can is rinsed, give it a good scrub with a scrub brush and rinse the garbage cans one more time.
Allow the garbage cans to dry, and you are good to go.
Wood Furniture
Wood furniture is easy to deep clean. In most scenarios, you must complete a thorough dusting job on all wood furniture throughout the apartment.
Other smell-good and feel-good cleaners, such as pledge, can leave the apartment smelling and looking great to add the finishing touches. Learn more on how to get your apartment to smell good here.
Hardwood Floors
Deep cleaning hardwood floors only takes a few simple steps.
Begin by using a dry mop or broom, and remove all dirt and debris visible on the floors.
Next, you can use a wet mop or a mop equipped with a microfiber towel to avoid causing any harm to the hard-surfaced floors and scratching.
If a mop doesn’t quite get the job done when cleaning the hardwood floors, you can use a plastic putty knife to remove additional debris or scum buildup on the floors.
Once complete, you can use store-purchased hardwood shining products to add a nice layer of shine and give your hardwood the finishing touches.
Overall, depending on how much flooring you need to cover in your apartment, this should be one of the most straightforward deep cleaning tasks to complete.
Primary Living Space
When deep cleaning your primary living space in an apartment, you have some variables. It will depend on factors such as the flooring type and your furnishings.
For starters, you can either shampoo carpets or deep clean hard-surfaced floors by mopping or using a more advanced and modern tool, such as a Swiffer wet jet or steam mop.
Be sure to move items off shelves, coffee tables, and TV stands for furnishings. Dust all the furnishings and wipe down all your surfaces.
For furniture such as couches, chairs, and even your bed, you can begin by washing all your blankets and removable pillowcases.
For the furniture itself, it is going to depend on the material used. Some couches will be easy to shampoo and steam clean. In contrast, others may be better served by vacuuming, removing cushions, and cleaning beneath.
Be sure to check the material on your specific furniture to ensure you are using the right approach with your deep cleaning in an effort to avoid causing any damage or tearing to your table. Learn how much it costs to furnish an apartment here, if you are interested.
The Takeaway: Deep Cleaning is Time-Consuming, but Worth the Effort
We can all admit at least one thing when it comes to deep cleaning; once it is complete, it’s a very satisfying feeling.
It is much more enjoyable to relax in a clean apartment than just tidying up, but knowing in the back of your mind that the true deep clean remains unfinished.
While it may take some work, deep cleaning should be performed. Not only can it prevent germs and allergens, but it is an excellent way to maintain a property and enjoy your living space.
The real question is, why not perform a deep clean and maximize the potential of your new space? Here is hoping these tips help you achieve maximum cleanliness.
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