The post 8 Ways to Save Money on Rent in 2023 appeared first on Avail.
]]>
Buying a house has generally been more expensive than renting, but that may not be the case anymore with skyrocketing rent prices. The good news is rent prices are increasing at a slower rate, which is a positive sign for renters. However, that doesn’t lessen the burden of covering a costly rent bill each month.
For that reason, we outline the different ways to save on rent when entering a new lease agreement or already in one.
How to Save Money on Rent in 2023
Rent can be one of the most expensive monthly bills you’ll be expected to pay. To reduce the financial impact each month, here are eight ways to save on rent.
1. Reduce Add-On Monthly Fees
If you’re already locked into a lease agreement, you can consider removing add-on fees from your monthly rental bill to save some money. This option is ideal if you have to wait until it’s time to negotiate a new rent price or move to a more affordable apartment.
Examples of these fees include parking or storage unit fees that range from $50 to $150 per month. If you no longer own a vehicle or have access to public parking, see if your landlord is willing to remove this fee for the duration of the lease. For the storage unit, consider selling the belongings if they’re no longer in use or necessary to have.
2. Pay Rent With a Checking Account
Rent collection platforms allow you to pay rent with a debit or credit card, but there’s a catch — they typically charge a processing fee that can quickly add up. For example, paying rent of $1,350 with a credit card that includes a 3.5% processing fee can add $47.25/per payment, totaling $567 annually.
However, some platforms waive processing fees when renters pay rent with a checking account. Knowing this, check to see what payment methods waive processing fees (if any) the next time you pay rent. That way, you have a general idea of what method to try using more (if able) to save on rent.
3. Research Online Sweepstakes for Renters
It’s no secret that rent prices are higher than they were several years ago. As a response, there are more opportunities to receive free rent through online sweepstakes and games, specifically for renters.
In fact, Realtor.com® recently launched the Great Rental Search Party — an online game of skill where one person can win daily prizes (selected at random) like a paid Netflix subscription ($120 value) or one month’s rent (up to $3,000 in cash value) anywhere in the US. Although the Great Rental Search Party has now ended, you can still visit Realtor.com® to help you find your next home.
4. Search for Apartments During the Winter
Rent prices are generally lower during winter due to the lower rental demand. If you’re flexible on your move-in date, try searching for apartments in December, January, or February to pay less rent than you would moving during the summertime.
5. Sign an Extended Lease
In most cases, landlords and property managers offer 12-month leases with the option to renew. However, you can commit to a longer-term lease like 15 months for a lower rent price. The longer the lease term, the more stability this offers the rental owner so they’re more open to reducing the rent price by a few hundred dollars.
This is a great option if you’re confident the rental property meets your needs and can provide a positive renting experience.
6. Get a Roommate
Having a roommate has its pros and cons, but it’s one way to save on rent by not having to cover the full amount. The key to a successful agreement is ensuring the roommate can afford the rent, has a positive renting history, and communicates issues in advance.
Before finding a roommate, check in with your landlord so they’re aware of your plans. The roommate may also need to complete a screening process before moving in, so it’s best to inform the landlord at each step. This is especially important considering you’ll still be responsible for the full amount of rent in the case the roommate can’t pay.
7. Rent Out an Extra Room for Short-Term Stays
An alternative to finding a roommate is rental arbitrage. This is when renters can temporarily rent out an extra room as a vacation rental on platforms like Airbnb or for short periods of time (generally less than three months).
However, this option requires careful consideration since there can be laws on short-term rentals, as well as limitations outlined in the lease. Firstly, review your lease agreement and talk to your landlord before pursuing rental arbitrage. If allowed, this can be a great way to generate additional income each month that can go towards your rent.
8. Move to a Different Neighborhood
Not all neighborhoods have the same rent prices for certain types of rentals. Some neighborhoods can be more affordable than others. With that in mind, research different neighborhoods that offer your ideal apartment, but at a lower price than your current location.
Food for thought: Neighborhoods closer to downtown cities tend to cost more than suburban neighborhoods.
Find Available Rentals With Ease
With rent prices continuously rising, putting more income towards one bill can be stressful. With these tips, you can find ways to save on rent and have a positive renting experience without the hefty price tag.
*No purchase necessary. See Official Rules.
The post 8 Ways to Save Money on Rent in 2023 appeared first on Avail.
]]>The post A Guide to New York Rental Applications appeared first on Avail.
]]>
If you’re looking to fill a vacant rental property in New York, you’ll want to use a rental application. A New York rental application asks questions about a tenant’s personal, residential, and financial background to determine if they meet your screening criteria.
However, some laws can impact tenant screening and fee amounts, so we provided an overview of New York rental applications with a free form download.
What to Include in a New York Rental Application
Rental applications in New York should request the following information.
- The applicant’s personal information: Request their first and last name, phone number, email address, residential address, proof of identification, and if they own pets or smoke.
- Proof of income: Examples of proof of income include pay stubs, W-2s, bank statements, 1099 forms, letters from employers, and workers’ compensation letters.
- Employment history: Applicants can work full-time, part-time, or be self-employed so request information on their employment history.
- References: To learn more about applicants — especially those unable to authorize screening reports with a social security number or individual taxpayer identification number — you can request a personal, credit, or landlord reference.
- Tenant screening reports: In New York, landlords can request screening reports like a credit report, background check, and eviction history, so long as the applicant has provided written consent.
- Co-signer or lease guarantor application: If an applicant must get a co-signer or lease guarantor to get their application approved, it’s best practice to request an additional rental application. This can help ensure they meet your income requirements if the original applicant cannot afford rent.
How Long Does It Take to Process a Rental Application in New York?
The time it takes for a New York rental application to process will vary depending on the applicant. They can submit their application the same day or after a week. If you request applications through Avail, they will populate your dashboard in minutes once the applicant has authorized selected screening reports.
You can easily compare applications side-by-side, accept and deny applications directly in the platform, and move on to the next step, like creating a lawyer-reviewed lease agreement. To get started, you’ll need to set up your rental property and invite your tenants to Avail to request a rental application for free.
Are Tenant Screening Reports Allowed in New York?
Yes, tenant screening reports are allowed in New York if the applicant provided written consent beforehand. However, it is considered unlawful to use rental applications or screening reports in a way that can discriminate against characteristics of a protected class.
For that reason, it’s important to ensure your screaming criteria abided by New York State Human Rights law and Fair Housing laws.
What Are New York Rental Application Fee Laws?
According to New York landlord-tenant laws, landlords cannot charge more than $20 for background and credit checks. You can create an Avail account to request individual reports or bundle them together to request rental applications. The fee for requesting selected reports will not exceed the local amount, making it easier to abide by local regulations.
Request Rental Applications With Avail
New York rental applications can simplify the process of finding your next tenant. You can use our online template, add custom questions with Unlimited Plus, and bundle screening reports. Once you’ve approved a prospective tenant’s application, you can create a lease agreement, set up rent collection, and more in one platform.
Create an account or log in to screen prospective tenants with Avail.
The post A Guide to New York Rental Applications appeared first on Avail.
]]>The post A Guide to Georgia Rental Applications appeared first on Avail.
]]>
Georgia rental applications can help you learn more about prospective tenants applying for your rental property. You can learn more about their income, residential history, and if they own any pets. The rules around tenant screening, such as rental application fees and report limitations, can vary by state. So before getting started, it’s essential to know the best practices for screening applicants in Georgia and how to abide by Fair Housing laws.
Keep reading to get an overview of Georgia rental applications and download our free application template.
What to Include in a Georgia Rental Application
If you’re planning on using Georgia rental applications, here are six pieces of information to request.
- Applicant’s personal information: Include basic questions that ask applicants for their first and last name, contact information, current residential address, proof of identification, and pet ownership.
- Proof of income documents: Examples of proof of income include pay stubs, W-2s, tax returns, 1099 forms, and bank statements.
- Employment history: Learn more about an applicant’s current employment status. As a refresher, applicants can work full-time, part-time, or be self-employed.
- References: References help learn more about an applicant’s character and renting history. You can request a landlord reference, credit reference, or personal reference.
- Tenant screening reports: Add a credit report, background check, and eviction history to a Georgia rental application. However, check local landlord-tenant laws for any screening restrictions to be aware of in your county.
- Additional applications: You may need to request another application if an applicant is required to get a co-signer or lease guarantor for approval.
Avoid including questions that would violate Fair Housing laws.
How Long Does It Take to Process a Rental Application in Georgia?
Georgia rental applications can be processed the same day or in a few days, depending on how fast the applicant submits it. If you screen tenants with Avail, each prospective tenant’s application will populate in your dashboard minutes after they complete the form and authorize any relevant screening reports.
You can also compare applications side-by-side to make it easier to find your next tenant. To easily screen prospective tenants, create an Avail account.
What Are Georgia Rental Application Fee Laws?
There are no restrictions on how much landlords can charge in application fees, but it’s generally recommended to keep the amount reasonable. In most cases, application fees are also considered non-refundable, even if an application is denied or the prospective tenant changes their mind.
Are Tenant Screening Reports Allowed in Georgia?
Yes, screening reports are allowed in Georgia, such as credit and rental background checks. While some states require landlords to get consent before requesting specific reports, credit agencies can provide an applicant’s information without their permission. However, it may be best to still request authorization from the tenant so they know what information you requested of them.
They may also address issues worth knowing about beforehand to understand what happened and how they resolved it. This is especially important since refusing to rent to applicants with a criminal record can be considered discrimination.
Screen Prospective Tenants With Avail
You can get the information you need to find your next tenant using a Georgia rental application. Add relevant screening reports like a TransUnion credit report, background check, and eviction history for a one-time fee that you or the tenant can cover. Create an Avail account to help you request rental applications, approve and deny applications, and more in one platform.
Already have an account? Log in.
The post A Guide to Georgia Rental Applications appeared first on Avail.
]]>The post A Guide to Michigan Rental Applications appeared first on Avail.
]]>
The key to finding a great tenant is knowing what tools can help you gather the relevant information you need from applicants. One way to do this is with a Michigan rental application and screening reports like a credit check, background check, and eviction check. Before starting the process, it’s important to know what laws Michigan has on rental applications and how to best abide by Fair Housing laws.
In this article, we provide an overview of Michigan rental applications and a free form for your screening process.
What to Include in a Michigan Rental Application
A rental application form for Michigan should require the following information:
- Applicant’s personal information: You’ll want to request their first and last name, phone number, email address, residential address, proof of identification, and basic questions on pet ownership and recreational habits like smoking.
- Proof of income: Documents that can service as proof of income are paystubs, W-2s, bank statements, an offer letter, or paid invoices.
- Employment history: Prospective tenants can be self-employed, full-time, or part-time. You can request the employer’s contact information or the company’s website to verify their employment.
- References: Landlord, credit, and personal references can provide a variety of details about a prospective tenant. If they cannot authorize screening reports, landlord and credit references can speak to their reliability to make on-time payments and character.
- Tenant screening reports: Examples of screening reports are credit reports, background checks, and eviction history. Before requesting screening reports, check with local landlord-tenant laws to see if there are limitations on what reports you can request from applicants.
- Additional applications: There may be instances where applicants need a co-signer or lease guarantor to get their application approved. In this case, you must request an additional application from them to ensure they meet your criteria.
What Michigan Rental Applications Can’t Ask About
Regardless of your screening process, you cannot ask questions on a rental application that violate Fair Housing laws. Do not ask questions that would discriminate against applicants based on race, sex, national origin, familial status, religion, color, and disability.
Check out our complete guide for more information on Fair Housing laws.
Are Tenant Screening Reports Allowed in Michigan?
Tenant screening reports are allowed in addition to a Michigan rental application, but you must obtain an applicant’s written consent first. While Michigan doesn’t has restrictions, some municipalities may ban criminal history searches as part of a background check. For that reason, refer to your local landlord-tenant laws for more information.
One way to request reports is with a tenant screening service like Avail. You can request one individual report for a one-time fee or bundle them together.
Our system automatically requires applicants to authorize the requested screening reports, ensuring you abide by local landlord-tenant laws throughout the process. Once a prospective tenant has submitted their application, you can access it through your dashboard to compare it with others. You can then decide which person’s application to approve for next steps.
What Are Michigan Rental Application Fee Laws?
There are no fees restricting the amount landlords can charge in application fees. Such fees are considered non-refundable, even if a rental application is denied.
How Long Does It Take to Process a Rental Application in Michigan?
The time it takes for a Michigan rental application to process depends on how fast a tenant can complete the form and authorize the requested screening reports. This can be done the same day or after a week, but can vary. Once that’s complete, their application will populate to your Avail dashboard to approve or deny.
If you approve their application, you can move forward with creating a lease agreement or uploading your own to sign online for free.
Find Your Next Tenant With Avail
The best way to screen applicants is with a Michigan rental application. Get started by creating an Avail account to set up your rental property, invite your tenant to Avail, and request an online rental application. You can then determine if you want to add screening reports for a bundled fee or add them separately.
Already have an account? Log in to find your next tenant with Avail.
The post A Guide to Michigan Rental Applications appeared first on Avail.
]]>The post A Guide to Texas Rental Applications appeared first on Avail.
]]>
There’s no greater feeling than generating tenant leads from your rental listing. But now the real work starts — it’s time to screen them with a Texas rental application. While there aren’t too many laws that impact how you screen tenants, it’s important to know what information to include in an application and how to avoid violating Fair Housing laws.
Keep reading to learn more about Texas rental applications, tenant screening basics, and to download our free form to use for your rental properties.
What to Include in a Texas Rental Application
A key component of the tenant screening process is a Texas rental application. They can help you learn more about your applicants by gathering the necessary information to decide if they’re a good fit for your rental. Applications can include the same information, but it’s important to have the following details:
- Applicant’s personal information: Applicants should share their first and last name, contact information, current residential address, proof of identification, and if they own pets.
- Proof of income: Examples of proof of income include paystubs, W-2s, bank statements, or an offer letter.
- Employment history: In addition to proof of income, you can request their past and current employer information to verify. If they’re a freelancer or self-employed, you can request tax documents.
- References: There are different types of references: personal references, landlord references, and credit references. Personal and credit references may be ideal if an applicant can’t authorize screening reports or if they’re currently attending school. Landlord references are always great to request since this can provide information on their applicant’s previous renting history.
- Screening reports: If locally allowed, you can add screening reports to screen applicants further. Examples of screening reports include credit checks, background checks, and eviction history. However, refer to local landlord-tenant laws to know if there are restrictions on which reports you can request.
- Co-signer or lease guarantor application: If you request that an applicant get a co-signer or lease guarantor for their application to be approved, the additional person will need to complete a rental application.
To request an Avail rental application, create an account to set up your rental properties and invite your tenants.
Are Tenant Screening Reports Allowed in Texas?
In Texas, landlords can request credit reports, background checks, and eviction checks so long as the landlord has notified the prospective tenant of their selection criteria. Applicants must provide written consent for landlords to perform any checks.
Fees can be anywhere from $30 to $90, depending on the tenant screening software a landlord uses. The price should offset the costs of screening an applicant. Rental application fees are non-refundable unless an applicant is rejected.
With Avail, you can request all three reports for a bundled price or separately for a one-time fee. The applicants are generally required to cover the cost of the tenant screening report, but the landlord can also cover it if they choose to.
What Are Texas Rental Application Fee Laws?
There are no laws that restrict what screening reports landlords request from tenants. However, they must get written authorization from the applicant beforehand.
What Can’t Landlords Ask on a Texas Rental Application?
All landlords must abide by Fair Housing laws to avoid discriminating against applicants based on race, sex, national origin, familial status, religion, color, and disability.
Need more resources on screening? Explore our Tenant Screening Toolkit page.
How Long Does It Take to Process a Rental Application in Texas?
The time it takes to process a Texas rental application will depend on how soon an applicant can authorize the requested screening reports. Once that’s complete, you can get their application within five minutes if screening tenants through Avail.
If you’re screening more than one applicant, you can also compare multiple applications side-by-side through your dashboard.
Screen Prospective Tenants With Avail
Using a Texas rental application can help you gather the information you need to approve or deny a prospective tenant. You can download a free template online or create an Avail account to request rental applications and tenant screening reports. Screen applicants and request a lawyer-reviewed lease agreement to help you find your next tenant, all in one platform.
For more information on landlord-tenant laws, visit our official Texas legal page.
The post A Guide to Texas Rental Applications appeared first on Avail.
]]>The post 4 Best Sites to Find Renters for Your Rental Property in 2023 appeared first on Avail.
]]>
You can own an amazing rental property with in-demand amenities, a great view, and more. But without the right marketing strategy, you can find yourself struggling to get renters to view your rental listing and request an application. For that reason, it’s important to know the best sites to find rental properties that renters are turning to during their home search.
To help you, we looked at the top listing sites that generated the most leads for our landlords based on Avail data.*
What Are the Best Sites for Finding a Tenant?
There are various rental listing sites that can help you market your rental property, but they’re not all the same. Here are the top rental sites that helped our landlords generate the most leads in the past year.
1. Apartment List
Apartment List accounted for 19.18% of the overall leads landlords generated in the past year, marking it the top rental site. Apartment List follows a pay-per-lease model, which means landlords only pay when a renter moves into the property. While creating an account is free, you can find yourself paying anywhere from $399 to $449 per signed lease — depending on the type of metro your properties are in. However, you can qualify for discounts based on the size of your portfolio.
One great benefit to Apartment List is the verified badges they add to rental listings. This lets renters know that the listing is trustworthy to reduce the chances of being scammed online. They also have various features that can help landlords generate leads at all times of the year, which can be especially helpful during the slower months.
2. Apartments.com Rental Manager
It’s no surprise Rental Manager (previously Cozy) came in second at 18.34% of total leads, considering millions of renters turn to this platform to find their next home. In addition to their main site, your listing will also be published across the Apartments.com network, which includes Apartments.com, ForRent.com, ApartmentFinder, ApartmentHomeLiving.com, and Apartmentos.com.
If you upgrade to their Premium subscription, your listing can be published across seven more network sites.
3. Realtor.com®
Realtor.com® has historically been the go-to platform for homebuying, but is also becoming a great place to market your rental property. This platform generated 15.32% of new leads for our landlords and continues to be a go-to option for property owners. You can list your rental property on one of the top rental sites, making it easier to generate leads and find your next renter for free. Realtor.com® also allows you to upload virtual or 3D tours and add detailed information about your rental so renters can find your listing easier.
Once you’re ready to schedule in-person or virtual showings, you can do so through the platform directly and screen applicants with Avail landlord software.
4. Zumper
If you’re looking for an additional platform to market your rental, Zumper may be a good option. The site offers a new way to find tenants and generated 10.67% of new leads for landlords in the past year.
What makes Zumper unique is its filtering options for not only renters, but also landlords. If you require renters to have a minimum credit score or monthly income, you can input that information into their system. They will then present you with potential renters that already meet your criteria, reducing the time spent prescreening applicants. In addition to publishing on Zumper, your listing will also post to Padmapper.
How to Publish a Rental Listing on Avail
While you can manually post a rental listing on each site, this can quickly become time-consuming if you own more than one rental.
Instead, you can market your rental property through Avail, which automatically publishes your rental listing across the top dozen sites like Apartment List, Apartments.com, Realtor.com®, Zumper, and more with one click. There is also no added fee for marketing your listing, making it easier to get more eyes on your rental property without an added price tag.
Find Your Next Renter With Avail
The key to filling vacant units is using the right platforms that can help you generate qualified leads in no time. Luckily, Avail makes it easy to save time and money managing your rental property. Create an Avail account today to set up your rental properties, market your rental, schedule showings, and screen applicants — for free.
*Data pulled from calendar year April 5, 2022 to March 31, 2023.
The post 4 Best Sites to Find Renters for Your Rental Property in 2023 appeared first on Avail.
]]>The post Massachusetts Landlord-Tenant Laws: The Top 8 Laws to Know appeared first on Avail.
]]>
Massachusetts has various laws impacting how landlords handle security deposits, tenant screening, lease agreements, and more. To ensure you’re running an ethical rental business that doesn’t violate your renters’ rights, it’s best to stay informed on rent laws in Massachusetts.
Keep reading for the top eight Massachusetts landlord-tenant laws to know about that can impact the day-to-day activities of landlords.
1. How Much Can Landlords Charge in Security Deposits in Massachusetts?
Landlords cannot charge security deposits that exceed the same amount as the first month’s rent. Massachusetts also requires landlords to provide a security deposit receipt that shows the deposit amount. Landlords must hold the security deposits in a separate, interest-bearing account to avoid commingling and provide a notice of the bank it’s held in to the tenant.
2. How Much Notice Does a Landlord Have to Give Tenants to Move Out in Massachusetts?
Landlords have until the timing interval rent is typically due or 30 days (whichever is longer) to notify their tenant of their plans to terminate the lease for tenancies at will. You can use a non-renewal lease letter to notify your tenants and inform them of the next steps as they plan to move.
In the case of eviction, landlords must provide tenants with a 14-day Notice to Quit. However, it’s best to speak to a lawyer for more information on eviction procedures in Massachusetts.
3. How Long Does a Landlord Have to Fix a Maintenance Issue in Massachusetts?
If a tenant submits a maintenance request, landlords have five days from the date of the notice to begin making repairs or find a contractor to address the problem. According to Massachusetts law, the necessary repairs must be completed within 14 days.
In some cases, tenants can withhold rent if the landlord does not address issues and the local Board of Health has identified health code violations. For that reason, it’s best to have a maintenance tracking system in place to ensure issues are addressed within the specified time frame.
4. What Clauses Are Required in a Massachusetts Rental Agreement?
While both written and oral agreements are allowed in Massachusetts, it’s best to have a written agreement in place that protects both parties. In written agreements, it must state the following information:
- The contact information of the landlord and tenant(s)
- Security deposit amount and the landlord’s obligations regarding security deposits
- Statement outlining the present condition of the premises
- Late fees and the rent price
Once both parties have signed the agreement, the landlord has 30 days from obtaining the tenant’s signature to provide them with an executed copy. To make a Massachusetts lease agreement, you can create an Avail account to access our lawyer-reviewed, state-specific lease templates. Our system will populate the locally-required information you need to ensure the lease abides by local ordinances. The final lease agreement can be signed by both parties at no cost and easily accessed through your dashboard.
5. Can Massachusetts Landlords Charge Late Fees?
Yes, landlords can charge late rent fees if stated in the lease agreement, but they must wait 30 days for the payment to be considered overdue. They can pursue eviction if the payment is one day overdue, but it’s best to consult with an attorney to discuss your options.
Need more resources on rent collection? Visit our Rent Collection Toolkit page.
6. Can Landlords Charge Rental Application and Screening Fees in Massachusetts?
No, landlords cannot charge any fees for prospective tenants to submit a rental application and authorize screening reports. They can charge security deposit fees, request first and last month’s rent, and the costs of adding new locks, but they cannot require applicants to cover tenant screening-related fees.
If you want to request screening reports through Avail, you can cover the cost yourself through Avail so the applicant does not have to.
7. Can Landlords Charge Pet Fees in Massachusetts?
In Massachusetts, landlords cannot charge pet fees outside of pet rent since it’s considered additional rent. In other words, you cannot require tenants to pay a one-time pet fee before they move in, or else that will violate Massachusetts landlord-tenant laws.
If a tenant has an emotional support animal or service animal, landlords cannot require pet rent since it’s not considered a pet.
8. Can Landlords Prohibit the Use of Marijuana in a Massachusetts Rental Property?
While Massachusetts has decriminalized marijuana, landlords can prohibit the smoking of it on their premises — similar to smoking cigarettes. However, they cannot prohibit tenants from consuming marijuana by means other than smoking unless it would cause the landlord to violate federal laws or regulations.
If you make a lease agreement with Avail, you can include a custom clause with Unlimited Plus that outlines your rules on the use of marijuana so the tenant is aware of your expectations.
Learn More About Massachusetts Landlord-Tenant Laws With Avail
It’s important to stay up-to-date on your local laws to ensure you’re running an ethical rental business. One way to do this is by subscribing to The Avail Landing newsletter, where you receive curated content on general renting, laws, research, and more directly to your inbox. Submit your email below to subscribe today.
Visit our official page for more information on Massachusetts landlord-tenant laws.
*This article is intended for educational purposes only and does not constitute legal advice. Please consult an attorney for more information on landlord-tenant laws.
The post Massachusetts Landlord-Tenant Laws: The Top 8 Laws to Know appeared first on Avail.
]]>The post Illinois Rent Laws: An Overview of IL Landlord-Tenant Laws appeared first on Avail.
]]>
Illinois is a great place to own rental properties, but it’s important to stay informed on state and county-specific rent laws to avoid legal issues. Local laws may impact how you operate your rental business and handle certain parts of the process, like tenant screening.
In this article, we provide a general overview of Illinois rent laws landlords should know and helpful resources.
1. Do Landlords Need a Rental License in Illinois?
While Illinois does not have a state-wide rental license requirement, certain counties do. For example, Cook County requires landlords that own buildings (including condominiums) with four or more units to have a rental license.
To obtain a rental license, you’ll need to submit an application and ensure your rental property abides by the county’s requirements.
2. Are Landlords Required to Pay Interest on Security Deposits in Illinois?
In Illinois, landlords are allowed to charge their preference for security deposits. However, they must pay interest on the payment if it is held for at least six months and there are 25 units in the building. The interest must be paid to the tenant or applied as a credit to their rent every 12 months.
The security deposit must also be returned within 45 days of the lease ending, which can be done with a proper return letter that includes an itemized list. Failing to return it within the listed timeframe can result in the landlord owing twice the security deposit amount, court costs, and relevant attorney’s fees.
3. When Should Landlords or Tenants Provide The Other Party With a Non-Renewal Lease Letter?
If either the landlord or tenant plans not to renew the lease, they can provide a non-renewal lease letter 30 to 60 days before the lease expires, depending on which county you live in.
Cook County requires landlords or tenants to share their plans not to renew 60 days before the lease expires if they’ve lived in the rental property for more than six months but less than three years. In month-to-month leases, either party must provide notice 30 days before the termination of the lease.
Need more resources on lease agreements? Visit our Rental Leases Toolkit page.
4. Are There Limits on How Much Landlords Can Charge in Late Fees?
Unlike security deposits, landlords are limited on how much they can charge in late fees. For example, they cannot charge more than $20 or 20% of one month’s rent — whichever is greater. Payments are not considered late until five days past the official due date, so landlords must wait for that timeframe before charging late fees.
Luckily, rent collection apps like Avail allow landlords to automate late fees once the grace period officially passes. This makes it easier to encourage on-time rent payments without manually charging late fees each time a payment is officially late. Our system also emails tenants with rent reminders to ensure they know when their next rent payment is due.
5. Are There Tenant Screening Report Restrictions in Illinois?
Landlords can require whatever screening reports they prefer, like a TransUnion credit check, background check, and eviction check. However, Illinois laws like the Illinois Human Rights Act have rules on how the information on the screening reports can be used.
For more information on exactly how, visit our Illinois landlord-tenant law page.
6. What Rental Property Repairs Are Landlords and Tenants Responsible for in Illinois?
Illinois law does not specify what rental property repairs landlords and tenants are responsible for. However, the landlord can provide a reasonable list of responsibilities for both parties in the lease agreement so everyone knows expectations.
It’s important to note that the landlord must address all repairs and ensure the property complies with state and local health codes. If they fail to address those issues within 14 days of receiving the notice, tenants can repair the issue and deduct the amount from the next rent payment. However, the cost cannot exceed $500 or one-half of the monthly rent price.
To stay on top of requests, use a maintenance tracking system to ensure all issues are addressed within a reasonable timeframe. You can also log associated costs with receipts to deduct when filing your taxes.
7. What Are Notice of Entry Laws in Illinois?
Before entering the property, Illinois requires that landlords notify their tenant 24 hours in advance. They can enter the property without proper notice in the case of an emergency or addressing immediate repairs.
8. What Are Emotional Support Animal Laws in Illinois?
Even if a rental property does not allow pets, the Illinois Human Rights Act, 775 ILCS 5/3 et seq. requires landlords in some cases to accommodate tenants with disabilities that require animals to assist them in some manner related to their disability.
It’s also important to ensure your lease agreement has a pet addendum that does not discriminate against emotional support animals and service animals, as this can be a violation of your tenant’s rights.
Learn More About Rent Laws in Illinois With Avail
Renting laws in Illinois will continue to change, but it’s best to have helpful resources on hand to help you run an ethical rental business. For more information on landlording and relevant laws, subscribe to The Avail Landing newsletter. Get tons of content directly to your inbox to help your landlord like a pro.
For more information on Illinois landlord-tenant laws, visit our official legal page on Illinois.
*This article is intended for educational purposes only and does not constitute legal advice. Please consult an attorney for more information on landlord-tenant laws.
The post Illinois Rent Laws: An Overview of IL Landlord-Tenant Laws appeared first on Avail.
]]>The post Colorado Landlord-Tenant Laws: The Top 10 Facts to Know appeared first on Avail.
]]>
Being well-versed in Colorado landlord-tenant laws can be a great way to avoid costly lawsuits and negative renting experiences with tenants. This is especially true considering there are laws on security deposits, application fees, lease agreements, and many other areas of renting.
For that reason, we outlined the top 10 facts landlords should know about local regulations in Colorado.
1. Is a Rental License Required to Be a Colorado Landlord?
Colorado does not require a rental license, but certain cities like Denver do. Starting January 2023, Denver states you must get a rental permit for “anyone who offers, provides, or operates a residential rental property consisting of two or more rental dwelling units on a single parcel.” The same will apply for properties with one or more rental dwelling units on a single parcel starting January 2024. You must renew the rental license once every four years unless you’ve sold the property or changed ownership. For more information, visit the Denver official site.
However, it’s best to look up county-specific information regarding rental registries.
2. Can Colorado Landlords Charge Application Fees?
Colorado landlords are allowed to charge application fees so long as the entire fee amount is used to cover the cost of processing the application. In other words, landlords cannot charge more than the amount to pocket themselves or use for other expenses.
Application fees generally range from $30 to $90, depending on the software used to screen prospective tenants. If you request an application and screening reports from applicants through Avail, either party can cover the fee directly through the platform. That way, the person responsible for the fee will only pay for the application to be processed and nothing more.
3. When Can a Security Deposit Be Withheld in Colorado?
Like in most cases, landlords need an actual cause to retain a portion of a tenant’s security deposit. The security deposit can be applied to unpaid rent, property damage, cleaning the unit upon move out, or other reasons that bring financial difficulty to the landlord outside of normal upkeep of the rental. If any portion is withheld, landlords must state how much they plan to keep and what it’ll be used for in a security deposit return letter.
Colorado statute defines living wear as normal wear and tear of a unit that naturally occurs during the lease term, and not damage caused by carelessness or abuse. If you’re unsure whether an issue is considered property damage or wear and tear, consult an attorney.
4. What Is the Maximum Late Fee for Rent in Colorado?
Colorado landlords are not allowed to charge any late fees over $50 or 5% of the amount of past due rent (whichever is greater). They also cannot require interest on a late fee or enforce a late fee if it’s not stated in the signed lease agreement.
Did you know? Platforms like Avail allow you to set up automated late fees for all your rentals.
5. What Is the Rent Grace Period in Colorado?
The rent grace period laws in Colorado require landlords to wait seven days before considering a payment late. So even if the tenant submitted their payment past the first of the month, it is still considered on time if it’s not past the seven-day grace period.
However, landlords can provide tenants with a past-due rent notice to remind them of when it’s due and any associated late fees they’ll need to pay past the seven-day mark.
6. Are There Tenant Screening Restrictions Colorado Landlords Should Know?
While landlords are not prohibited from requesting specific tenant screening reports, there are limits on how the information can be used. For example, landlords cannot consider a prospective tenant’s rental history or credit history seven years prior to the application date if it’s used as screening criteria.
There are also some limitations on how criminal history can be used as a criterion, so refer to Colorado landlord-tenant laws for more information.
7. When Can a Landlord Evict a Tenant in Colorado?
Landlords can evict a tenant if they’ve failed to pay rent, stayed past the lease expiration date, or committed multiple lease violations. Self-help evictions — when a landlord attempts to evict the tenant without going through proper legal procedures — are not allowed, so it’s important to know what the eviction process is for your county.
8. Are Rental Agreements Required in Colorado?
Lease agreements can be both written and oral in Colorado. But lease terms longer than 12 months must be in writing. Oral lease agreements are generally when the landlord and tenant agree on a lease term, but it’s not in writing.
To create a lease agreement, you can create an Avail account to access our lawyer-reviewed Colorado lease agreement template for free. Our lease agreements are state-specific and include all the necessary clauses local ordinances require.
For example, Colorado written lease agreements must include a lead-based paint disclosure in buildings older than 1978. Once you input the rental address, this document will automatically populate. The finalized lease can be digitally signed for free by all parties and stored in your dashboard for easy access.
9. How Much Can a Landlord Raise Rent in Colorado?
Colorado does not have any laws controlling rent price increases but has identified rent control as a statewide concern. It’s also important to remember that drastically increasing your rent price can turn off your current tenants from renewing or prospective tenants from applying for the rental if it’s on the higher end.
Learn how rent analysis reports can help you determine a new rent price.
10. Can a Tenant Refuse Entry to a Landlord in Colorado?
Tenants can refuse entry to a landlord if they have not provided a reasonable explanation for why or given them sufficient notice prior. For that reason, landlords are generally recommended to include a notice of entry clause in the lease agreement so both parties know how to handle situations like this.
Generally, give tenants 24 to 48 hours before visiting the property to give them time to clean or relocate their pets.
Learn More About Colorado Landlord-Tenant Laws
Landlord-tenant laws in Colorado are constantly changing, but it’s important to stay up-to-date with laws and regulations regarding rental property management. To do this, subscribe to The Landing newsletter below for curated content sent directly to your inbox.
For more information on Colorado landlord-tenant laws, visit our legal page.
*This article is intended for educational purposes only and does not constitute legal advice. Please consult an attorney for more information on landlord-tenant laws.
The post Colorado Landlord-Tenant Laws: The Top 10 Facts to Know appeared first on Avail.
]]>The post North Carolina Landlord-Tenant Laws: Top 8 Things to Know appeared first on Avail.
]]>
Managing rental properties requires knowledge of your local landlord-tenant laws. This ensures you avoid legal issues and respect your tenants’ rights during a lease term. You can also know your protections in the case of unpaid rent or wanting to pursue eviction.
Keep reading for a general overview of North Carolina landlord-tenant laws. For more information, visit our official North Carolina legal page.
1. What Is the Most a Landlord Can Charge for a Security Deposit in North Carolina?
The amount North Carolina landlords can charge in security deposit fees depends on the type of tenancy. If the lease term is week-to-week, landlords cannot charge more than two weeks’ rent. However, in the cases of month-to-month rental agreements, they cannot charge more than one and one-half month’s rent. They cannot charge more than two months’ rent for terms greater than month-to-month.
Landlords must also keep security deposits in a trust account within a licensed North Carolina-insured bank or savings institution. However, that does not mean they must share a portion of the interest earned on the payment with the tenant.
Download our security deposit return letter to notify tenants how much of their payment will be returned or kept.
2. What Are North Carolina Rental Agreement Notice Periods?
Similar to security deposits, the rental agreement notice period depends on the type of agreement. 12-month lease agreements require written notice at least 30 days before the lease expires. For month-to-month tenancies, a written notice is required seven days before and two days before for week-to-week tenancies.
The party choosing not to renew the lease is generally recommended to notify the other party with a non-renewal lease letter.
3. What Is the Maximum Late Fee for Rent in North Carolina?
In North Carolina, the maximum late fee is $15 or 5% of the monthly rent price, whichever is greater. This applies to situations where rent is due in monthly installments. However, landlords cannot charge more than $4 or 5% of the rent when it’s due weekly. It’s also important to note that late fees can only be applied if they’re in the rental agreement.
For grace periods, North Carolina only considers rent late once it exceeds five or more days. You can remind tenants when rent is due with a past-due rent notice outlining any late fees that may be charged if they fail to pay rent by the five-day mark.
4. What Tenant Screening Reports Are Allowed in North Carolina?
There are no restrictions on the type of tenant screening reports landlords can request. If you require specific reports like a background check, the prospective tenant must authorize this beforehand. If they do not, landlords cannot request a background check.
Platforms like Avail automatically request authorization for background checks and credit checks to ensure applicants know what information will be requested from landlords. If they’re unable to authorize a background check with a social security number (SSN) or individual taxpayer identification number (ITIN), you can add additional questions to your rental application with Unlimited Plus.
5. When Can Tenants Break a Lease Early in North Carolina?
There may be instances where tenants can legally break a lease without paying any associated fees. These instances include when a tenant is a victim of domestic violence, starting active military duty, if the unit is unsafe or violates local health and safety codes, or if the landlord violates their privacy rights. However, tenants generally need to provide written notice of their intention to move out before doing so.
6. When Can a Landlord Evict a Tenant in North Carolina
Landlords can generally evict tenants that fail to pay rent on time. In this scenario, landlords must wait past the grace period listed above before demanding they pay rent or vacate the unit. After the 10th day, the landlord can proceed with eviction proceedings and is not required to notify the tenant of their intention to evict.
While dealing with unpaid rent is stressful, eviction may not always be necessary if it’s the first instance where a tenant is late on rent. You can also explore other options, like talking with them directly or sending a past-due rent notice to remind them of their responsibility to pay the agreed-upon rent.
Still collecting rent with checks? Use an online rent collection app to encourage on-time rent payments.
7. Are There Rent Control Laws in North Carolina?
There are no rent control laws in North Carolina. However, it’s important to set a fair and competitive rent price based on local rental comps. This helps you craft a rent price that can generate passive income without being too high that it deters prospective tenants from applying.
The Avail Rent Analysis report offers local rental comps, rental demand, county rent trends, and more in an easy-to-digest way. Instead of manually searching listings, you can invest in our six-page report to get the information you need to determine your rent price.
8. Can a Tenant Withhold Rent in North Carolina?
Tenants can only withold rent once a judicial decision allows them. If a tenant attempts to withhold rent before getting permission, it may be best to talk with a lawyer about your options.
Learn More About North Carolina Landlord-Tenant Laws With Avail
North Carolina landlord-tenant laws can be tricky to understand, but there are helpful resources that can help. One resource is The Avail Landing newsletter which sends helpful tips and information on laws directly to your inbox. All you have to do is submit your email below to subscribe to our newsletter.
You can also visit our North Carolina landlord-tenant law page for additional information on other areas of renting.
*This article is intended for educational purposes only and does not constitute legal advice. Please consult an attorney for more information on landlord-tenant laws.
The post North Carolina Landlord-Tenant Laws: Top 8 Things to Know appeared first on Avail.
]]>