The post Pet Fees vs. Pet Rent vs. Pet Deposits: What’s the Difference? appeared first on Avail.
]]>
Pets are beloved companions but they don’t always follow house rules. Cats and dogs, the most common types of pets, often stain the carpets, scratch the floors, leave odors, and damage appliances.
An estimated 70% of US households own a pet, so it’s no wonder pet-friendly apartments — rentals that allow pets under certain restrictions — are very popular with tenants. But this leaves landlords wondering how to prepare their units for pets.
In this article, we discuss the differences between pet fees, pet rent, and pet deposits to help you determine which is best to require.
What Are Pet Fees?
A pet fee is a one-time, non-refundable fee you can charge tenants to allow pets on your property and help cover associated costs. This is typically a single payment tenants have to pay before moving into the pet-friendly rentals, similar to a move-in fee or administration fee.
Landlords typically charge an average of between $250 to $500 per pet for pet fees. However, you may choose to alter the price depending on the type of pet your tenant owns.
Pros of Pet Fees
Pet fees can be effective because you get upfront compensation for potential wear and tear or property damage. Another advantage is that pet fees are usually non-refundable, so you’ve got funds readily available to use towards cleaning fees or repairing damage caused by the pet.
Cons of Pet Fees
The amount you charge may not cover all the damage pets end up causing, so it may be best to have money on the side to cover the remaining portion or require the tenant to cover it. One alternative to charging a pet fee for your rental is to require renters insurance that includes pet liabilities.
Accidents happen! Use an online maintenance tool to take photos, find contractors, get status updates, and message tenants — and get repairs taken care of easily.
What Is Pet Rent?
Pet rent is a monthly fee for pets in addition to regular rent. It’s an increasingly popular option for pet-friendly apartments.
Pet rent is usually the least expensive option, so you can charge pet rent as long your tenant has pets in their unit. This allows you to cover wear and tear, like muddy carpets in the lobby, and handle more severe damage. Some landlords calculate pet rent as 1% or 2% of unit rent, or charge a flat rate based on market area, pet size, or their experience with pets on the property. Average pet rent tends to work out to approximately $10 to $60 per month.
Pros of Pet Rent
Pet rent is great because animals cause wear and tear that security deposits — and even pet deposits — may not fully cover. This option may be attractive to some pet-owning tenants because it’s a smaller cost spread over time.
Cons of Pet Rent
Pet rent is generally priced low, so if you only require pet rent, you may not be set up to repair potential damages. Landlords with fewer than 10 units should consider combining pet rent with a pet fee for better protection from large, unforeseen costs. Something else to consider is that monthly fees add up, and tenants may not want to pay on a long-term basis.
What Are Pet Deposits?
A pet deposit is a one-time, refundable fee that can be used to specifically address property damage and losses caused by pets. Like a standard security deposit, landlords can withhold some or all of a pet deposit to address pet-related damages. Examples include:
- Flea infestations
- Broken appliances
- Urine and feces stains
- Holes in the wall
- Scratches on floors and walls
An average pet deposit is usually between $100 and $600. It’s worth noting that pet deposits only cover pet-related damage, not normal wear and tear. You’ll need to check state and local laws to see if there are restrictions on pet deposits.
Pros of Pet Deposits
Pet deposits guarantee landlords compensation for serious pet damages. On the tenant side, a refundable fee is a great incentive to prevent pet damage. Also, tenants comparing pet-friendly rentals will likely pick the one with the refundable fee over the non-refundable fee, depending on the amount.
Cons of Pet Deposits
Mishandling a pet deposit can have legal repercussions, just like mishandling a security deposit. Furthermore, if you charge a pet deposit and a security deposit, you likely can’t mix funds from either bucket. For example, if your $300 pet deposit doesn’t cover all pet-related repairs, you probably won’t be able to use any security deposit funds to pay the rest.
What’s the Difference Between Pet Fees vs. Pet Rent vs. Pet Deposits?
To recap, here are the primary differences between the types of pet-related charges:
- A pet fee is a one-time, non-refundable fee you can collect before tenants move in
- Pet rent is a monthly fee added to the rent price to account for the pet living on the property.
- A pet deposit is a one-time, refundable fee that covers pet-related property damage and serves similarly to a traditional security deposit.
Each option has advantages and disadvantages, so you may wish to use multiple to protect your property in different ways. Be sure to review your local landlord-tenant laws or consult with a legal expert to determine your options and avoid violations.
To simplify collecting these fees, Avail offers online rent collection to make the process smooth and seamless. Collect rent and any additional pet fees that you decide to include and keep track of your finances through the Rental Property Accounting dashboard.
Is it Legal to Charge Pet Fees?
Charging a pet-related fee may seem like an easy solution for a tenant with a pet, but it may not be legal, depending on your state’s landlord-tenant laws or your city’s local ordinances.
Furthermore, it’s against the law to charge any kind of pet fee for service animals or emotional support animals, per the Fair Housing Law.
Collect Pet Fees With Avail
Once you’re ready to allow pets at your rental, you can easily collect any pet-related charges, with an online rent collection app like Avail. Add a one-time fee or a deposit as part of the signing fee once you’ve selected your tenant, or collect monthly pet rent charges along with the usual rent. Your charges will be kept organized based on property, and you can easily see the amount your tenant has paid and when from the landlord dashboard.
Create an account or log in today to get started.
The post Pet Fees vs. Pet Rent vs. Pet Deposits: What’s the Difference? appeared first on Avail.
]]>The post Does Paying Rent Build Credit? appeared first on Avail.
]]>
There’s no shortage of advice on how to improve your credit score, but it often involves drastic actions, like getting a new credit card or taking out a loan. Because of this, many renters want to know if their rent payments can help build credit — and the answer is yes.
However, there are certain tools you’ll need to use to report current and past rent payments to a credit bureau like TransUnion. In this article, we’ll explain how to start reporting your on-time rent payments to build credit and ways to improve your credit score as a renter.
How Do Rent Payments Appear on My Credit Report?
Rent payments are considered alternative credit data, which are non-traditional forms of credit that can determine your creditworthiness. Although these payments won’t show up on your main FICO® credit score, this is a great way to build credit if you currently have little to none on your report.
Popular scoring models — FICO 9, FICO XD, and VantageScore — consider rent payments and other utilities when determining whether or not someone is a reliable borrower. In order to contribute to those credit scores, you’ll need to utilize a rent reporting platform to start building your credit health as a renter.
How to Report Rent Payments to the Credit Bureaus
Reporting your rent payments to a credit bureau is fairly simple. You can either have your landlord manually report your rent for you, or you can do it yourself using a rent reporting platform like CreditBoost*. Most renters prefer to report their rent payments to a credit bureau themselves since they have more control over the process. But it’s important to note that your landlord will need to set up an account in order for you to take advantage of this tool.
CreditBoost helps you contribute to your FICO 9, FICO XD, and VantageScore by reporting your on-time rent payments. Your payments go directly to TransUnion, one of the three major credit bureaus, to make it easier to build your credit health.
Here’s how to start reporting your on-time rent using CreditBoost: :
- Create an account for free: You can easily invite your landlord to join Avail and report your rent payments once you’ve been set up.
- Set up online rent payments: Paying your rent with Avail allows you to make payments using a debit card, credit card, or checking account.
- Turn on CreditBoost: Once you’ve set up your preferred payment method, you’ll need to switch on CreditBoost to start reporting your on-time payments. For a fee of $3.95/per reported month, you can start contributing to various credit scores in one place.
Create an account or log in to your tenant dashboard today to get the process started.
How to Get Credit for The Rent You Pay
There are two ways to build your credit with CreditBoost — you can report your ongoing rent payments and/or your past on-time rent payments. Both options have the potential to build your credit health without having to open a new line of credit.
- Ongoing rent payment reporting: Report the rent you’re currently paying to potentially see a steady improvement in credit and establish proof of long-term financial trustworthiness.
- Past payment reporting: Increase your credit score by reporting your past on-time rent payments from up to two years back. This can be helpful if you have little to no credit and need to build up your credit history.
How Much Will CreditBoost Impact My Credit Score?
A renter’s credit score can potentially increase by up to 40 points based on the average credit score increases previous users have seen over 24 months. However, renters need to consistently make on-time rent payments to see a similar result on their credit report.
Adding a new tradeline may temporarily result in a small decrease in your credit score, but this can bump back up with a strong payment history. The new tradeline from Avail decreases the average age of your accounts that are reported, so while this service can build your credit health, it’s important to approach this similarly to opening a new credit card. As you continue to report rent payments, the score can improve (considering other factors remain the same).
What If I Don’t Currently Pay Rent Online?
Create a free Avail account and invite your landlord to Avail to start accepting rent payments online so that you can start building credit with rent. Online rent payments offer plenty of incentives for landlords, including quick direct deposit, automated rent receipts, and easy tracking and reporting for tax time.
The Benefits of Having a Good Credit Score
Having a credit score higher than 629 can make it easier to qualify for lower interest rates on different types of loans, a mortgage, and credit cards. Plus, you’ll have an easier time getting approved for an apartment down the line.
Exploring various ways to build your credit can make it easier to not only improve a low credit score, but get as much value as possible from all of your monthly bills. In the past, only homeowners were able to build credit through their monthly mortgage payments, but the same is now possible for renters to prove their credit worthiness.
Having a good credit score affects many areas of life, from necessities like housing and transportation to opportunities for leisure and travel. The quicker you begin reporting your on-time rent payments to a credit bureau like TransUnion, the easier it’ll be to have a stellar credit history.
Start Building Your Credit Score With CreditBoost
Paying rent can build your credit health, as long as you have the right tools to report your payments. Whether you prefer to have your landlord report your payments or would like to do it yourself, you can easily start utilizing CreditBoost once your account has been set up.
Create an account or log in today to start working towards a stronger credit score today.
*Credit scores impacted include FICO 9, FICO XD, and VantageScore. Results may vary by individual.
The post Does Paying Rent Build Credit? appeared first on Avail.
]]>The post Starting an Herb Garden in a Small Apartment appeared first on Avail.
]]>
Growing herbs indoors is a great way to keep classic culinary herbs on hand any time of year.
If you have a small apartment, you might think you don’t have the space or light for an herb garden. Maybe your countertops, window sills, and other surfaces are already packed, or your kitchen gets less light than a cave.
Don’t count yourself out — growing herbs indoors doesn’t take much space, and your plants will still get the light, water, and legroom they need.
Ready to get your hands dirty? Here’s how to start your apartment herb garden.
Best Herbs to Grow Indoors
If you love Italian cooking, you might lean toward basil and oregano. Maybe you dream of homegrown cilantro for your favorite Mexican and Thai dishes, or mint for cocktails.
These are all popular choices for indoor herb gardens:
- Basil
- Chives
- Cilantro
- Dill
- Mint
- Oregano
- Parsley
- Rosemary
- Sage
- Thyme
Whatever you choose, carefully read each herb’s care instructions. Some herbs start better from seeds or young plants; others can grow from a leaf cut from another plant.
Do you own pets? Check whether the herbs you want are toxic to animals. On a related note, your cat would probably appreciate a catnip plant.
Each herb will grow differently. Mint grows quickly year-round, for example, while basil is in its prime for several weeks, and then it’s best to plant new seeds.
Before you start your herb garden, gather some recipes and research how to store herbs you won’t use right away.
Where to Grow Your Garden
You can grow herbs virtually anywhere in your small apartment because you don’t need natural light to grow herbs indoors.
Grow lights provide full-spectrum light to plants, unlike most home lighting. Grow lights usually have built-in timers, plug into wall outlets, and are available as floor and table lamps, clip-on lamps, or hanging lights. There are even self-watering grow kits with built-in grow lights.
That means you have a lot of flexibility on where you can grow herbs! If you have an area in mind, odds are you can make it work.
Creating Space for Your Indoor Herb Garden
Space is at a premium in small apartments, but there are plenty of crafty ways to make room for plants.
- Use suction-cup pots or shelves on windows
- Put plants on the rungs of a stepladder
- Hang planters from wall hooks
- Place a stool or tiered shelf by the window
- Get a vertical garden frame for the wall
- Hang planters from the ceiling
- Try a wine-bottle grow kit
How to Care for Herbs
The key to healthy plants — and a delicious harvest — is following care tips for each herb, available online or at a garden center. We cover the basics below.
Add light
Natural light: Generally, herbs need at least 6 hours of sunlight. South-facing windows get the brightest light, while east- and west-facing windows are a little cooler and get fewer hours of consistent light. Your herbs will probably be a mix of bright-light and low-light plants.
Grow light: Generally, keep grow lights on for 12–16 hours. Even if you get a lot of natural light, grow lights are a great option for winter, when there aren’t as many hours of sunlight.
Water regularly
Needs vary by herb, but a good rule of thumb is to water when the soil feels dry 1–2 inches down. Track how often you water so you don’t overdo it — or get a self-watering grow kit.
Watch out for pests or disease
Plant your herbs in individual pots, and don’t crowd them together. Every time you water, check for common pests like spider mites and mealybugs or diseases like mildew and root rot.
Follow these tips and you’ll go from starting an herb garden to enjoying fresh herbs in no time.
Want more ways to get creative with a small apartment? Interior designer Kathryn Cherne shared her favorite ideas for decorating small spaces.
And if you’re looking for a new place with more natural light, check out the listings on Avail.
The post Starting an Herb Garden in a Small Apartment appeared first on Avail.
]]>The post New Washington Landlord-Tenant Laws: What You Need to Know appeared first on Avail.
]]>
New landlord-tenant laws in Washington state went into effect July 28, 2019, introducing major changes to eviction laws, notice requirements, and more. We explain the main updates and what Washington landlords need to do.
Landlords Must Give 14 Days’ Notice to Pay Rent or Vacate
If a landlord wants to evict a tenant for not paying rent, they must now give their tenant 14 days’ notice to pay or vacate. Before, it was 3 days’ notice.
What should landlords do?
Download and use the new 14-Day Notice to Pay Rent or Vacate form. Serve eviction notices as soon as possible. Adjust grace periods for rent payments, if you have them, to avoid delaying the eviction process.
Landlords Must Give 60 Days’ Notice for Rent Increases
Landlords must give tenants with month-to-month leases 60 days’ notice for rent increases (see what counts as rent in the next section). Previously, only 30 days’ notice was required.
For tenants with fixed-term leases, required notice for rent increases is still 30 days, but landlords can’t raise rent before the rental agreement is complete. (This doesn’t apply to tenants in subsidized housing units where rent changes based on income.)
What should landlords do?
Give notice at the end or start of the month so you can begin collecting the new rent amount as soon as possible.
“Rent” Now Includes Recurring Charges
In Washington state, “rent” is now defined to mean “[…] recurring and periodic charges identified in the rental agreement for use and occupancy of premises […]” That means rent includes recurring charges like utilities and payment plans.
Equally important, rent excludes:
- Late payment fees
- Damages/repair costs
- Deposits
- Legal costs
- Attorneys’ fees
What should landlords do?
Consider requiring upfront payment of security deposits and other one-off fees. If you collect a security deposit, consider breaking it up into a payment plan or requiring an upfront payment. Go through eviction or small claims court to collect these fees.
Landlords Must Apply Tenants’ Payments to Rent First
Landlords are now required to use a tenant’s payments for rent first and before any other charges like late fees or repairs.
What should landlords do?
Update any lease terms that say otherwise.
Tenants Can’t Be Removed for Non-Payment of Non-Rent Charges
Landlords can still try to collect unpaid charges through legal means, but they can no longer evict a tenant for not paying any charge besides their rent payment.
What should landlords do?
Build any current one-off fees into the rent price, or require them upfront, to avoid late or missed payments.
Landlords Must Give 120 Days’ Notice for Substantial Rehabilitation, Change of Use or Demolitions
Landlords must give 120 days’ notice for the termination of month-to-month tenancies before major building changes that require tenants to leave the building. Previously, 20 days’ notice was required.
As a reminder, an owner or immediate family needing to occupy the unit doesn’t qualify as change of use.
What should landlords do?
Update any lease terms that say otherwise.
New Methods for Landlords to Serve Eviction Notices
A landlord can now post an unlawful detainer summons after 3 attempts at personal service, meaning there were 3 attempts over 2 days at different times of day to serve the tenant the eviction notice in person.
What should landlords do?
Document when and how you attempted to serve notice in person.
Courts May Stop an Eviction Upon Good Cause
Washington courts have judicial discretion, which means the court may stop an eviction based on the tenant’s intent, past payment history, hardship if evicted, conduct related to the current lease and past eviction notices, and more.
Judicial discretion does not apply to tenants who have been served 3 or more notices to pay or vacate within 12 months of the current eviction notice.
What should landlords do?
Document tenant conduct that violates your lease or other issues with on-time payment.
Tenants Can Remain in Residence After Satisfying Court Judgment
If the tenant is found liable in court but pays “[…] any rent, court costs, late fees or attorneys’ fees if awarded, into court or landlord within 5 court days […]” they may remain a tenant. If the cause for eviction is non-payment, tenants can also request a payment plan from the court.
What should landlords do?
If the court judgment is paid by the tenant, the landlord must file a satisfaction of judgment form.
Other Updates
- Tenants no longer have to pay into the court registry to attempt to stop an eviction.
- If a tenant defaults on their court-ordered payment plan, landlords can file a claim through the Landlord Mitigation Program.
- For landlords to be awarded attorneys’ fees in an eviction trial, the judgment has to be for more than 2 months’ rent or $1,200, whichever is greater. If the tenant files for reinstatement and they aren’t reinstated, attorneys’ fees may not be awarded.
- Members of the Armed Forces (and spouses or dependents) may give 20 days’ notice to break a lease if the service member has been released from duty, assigned elsewhere, given deployment orders, etc.
- The eviction summons form has been updated with legal resources for tenants, details on when and how to respond to the court, and the consequences for not responding.
The Bottom Line
The new landlord-tenant laws in Washington state make it more difficult to evict tenants for non-payment and require landlords to give more notice for a variety of changes. If you’re a landlord in Washington state, make sure to read the new state and local laws. You can also:
- Update your Washington state leases to reflect the new laws.
- Make it easy for your tenants to pay rent and recurring payments on time.
- Stay up to date with Washington state landlord-tenant laws.
Still have questions? Use the on-call lawyer network at Rocket Lawyer to get answers.
This article is for educational purposes and is not meant to serve as legal advice.
The post New Washington Landlord-Tenant Laws: What You Need to Know appeared first on Avail.
]]>The post NYC Housing Lottery: Overview and How to Apply appeared first on Avail.
]]>
Affordable housing — and the lack thereof — is a hot topic nationwide as rent prices in major cities soar and U.S. household incomes struggle to keep up.
Recently, New York City drew attention in the debate on how to meet the rising demand for affordable housing. A sweeping law, passed in June, capped rent increases and expanded tenant protections, while the city continued work on Mayor Bill de Blasio’s plan to create 300,000 affordable apartments by 2026.
As laws have changed, the NYC housing lottery has remained one of the most straightforward (if unpredictable) ways people can secure affordable housing in a city where the median rent for a one-bedroom apartment hit $2,980.
We’ll focus on what the NYC housing lottery is, how to apply and what you need to do after you’ve applied.
What Is the NYC Housing Lottery?
People earning a wide range of incomes can apply to win affordable apartments and co-ops in New York through the NYC housing lottery.
Basically, New York offers programs that give developers tax breaks and lower-cost loans if they set aside a certain number of units for affordable housing in new buildings or newly renovated properties.
Apartments in these buildings are typically rent-stabilized, meaning landlords can only increase rent by a certain percentage each year. This year, for example, the New York City Rent Guidelines Board (NYCRGB) limited rent increases to 1.5% for a one-year lease.
In 2018, the odds of winning the NYC housing lottery were 1 in 592.
Although this system is commonly known as the NYC housing lottery, you actually apply to each building’s specific lottery, not all available affordable housing opportunities.
In each lottery, a computer randomly assigns numbers to each application. The lower the number, the more likely the applicant will be contacted to potentially win an apartment.
Over 4.6 million people applied to the NYC housing lottery in 2018. That put the odds of winning at just 1 in 592 last year. But new lotteries open on a regular basis for current and upcoming buildings, so it’s best to check back and apply regularly.
How to Apply to the NYC Housing Lottery
You can apply for affordable housing in New York through the NYC Housing Connect online portal or by paper application, however, the first step is to make sure you qualify for the lottery you’re interested in so you don’t waste time applying.
Each building will have detailed rules on who qualifies for the lottery, often based on:
- your household income,
- the number of members in your household, and
- your credit, background, and housing court history.
Make sure to double-check that you meet the guidelines — even if you beat the odds and are selected for an interview, you won’t be offered an apartment if you don’t qualify.
Also, there is no application fee or broker involved in applying for housing through NYC Housing Connect. This means you won’t need to send money at any point in the process to apply.
Increasing your odds
The only reliable way to increase your chance of winning a unit through the NYC housing lottery would be to apply as part of a preferred group. These are applicants who are awarded housing before the general population.
In some lotteries, 50% of all units are reserved for current community board residents, so always keep an eye out for new listings in your neighborhood.
Other preferred groups include:
- Municipal employees
- Mobility-, vision-, and hearing-disabled applicants
- Veterans
When do you hear back?
Guidelines say that applicants may hear back within 2 to 10 months after the application window is closed, but you may not hear back at all. That’s why it’s important to keep searching for housing after you’ve applied to the NYC housing lottery.
Finding Housing
Just like playing any lottery, you should have a back-up plan to hitting the jackpot and scoring a rent-stabilized apartment through the NYC housing lottery.
Use A Tenant’s Guide to Finding an Apartment to simplify your housing search, and make sure you know your New York tenant rights so you can find better quality housing.
If you’re worried about a low credit score while apartment hunting, you can start getting credit for your on-time rent payments today, or report up to 2 years of rent payments to improve your credit score quickly.
The post NYC Housing Lottery: Overview and How to Apply appeared first on Avail.
]]>