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Know Your Rights
When You Stop
Being A Homeowner
And Become A
Tenant
When You Stop
Being A Homeowner
And Become A
Tenant
Returning to being a tenant was never in the
cards. The housing bubble and the subsequent
foreclosure crisis have put tremendous
pressure on millions of homeowners. Mix this in
with mounting job losses across the country
and we have a situation where homeowners
are losing their homes and are becoming
tenants all over again.
How do you deal with a landlord after being a
homeowner for 10 years or longer? Here are
some tips.
Read your lease.
Carefully review all the conditions of the lease.
Ask questions if you don't understand
something. If necessary have the lease
reviewed by an attorney. There are several
non-profit community agencies that will look
over your tenant's agreement free of charge.
Present your documents.
Landlords are impressed with paperwork. Be
prepared to show that you can afford the
property and that you will be a good tenant.
Have a copy of your credit report, an
employment letter, two pay statements and
three reference letters. Also have the rental
application completed.
Demand repairs.
Landlords are required to offer their tenants
livable premises. These include sanitary
conditions, adequate water, electricity and
heat. If the unit is lacking repairs and is in an
unlivable conditions, the tenant has a few
options. He can withhold a portion of the rent,
or have the repairs done and deduct the costs
from the rent. He can also call the building
inspector and let the code enforcement
department force the landlord to fix the
problems. As a final option, the homeowner
can vacate the property without liability for
future rent.
Communicate with your landlord.
Keep the lines of communication open with
your landlord. If there is an issue make sure you
keep a record of emails and letters involving
the dispute.
Review the security deposit policy.
Be clear with the landlord regarding the security
deposit. The landlord can keep all or a portion
of the security deposit under certain conditions.
When you are accepted for the unit, and you do
a walk through with the landlord, take pictures
of any damaged areas.
Purchase renter's insurance.
Renter's insurance protects the tenant against
theft or damage. It also covers the tenant if
someone is injured in your unit, and
subsequently sues. The cost of insurance is
about $350 for $50,000 of coverage.
Understand the eviction policy.
Know when to fight an eviction notice and when
to simply move on. You should definitely fight if
the premises were uninhabitable, or if the
landlord did not serve proper notice. If a tenant
loses an eviction lawsuit he can be faced with
thousands of dollars in legal fees and court
costs.
cards. The housing bubble and the subsequent
foreclosure crisis have put tremendous
pressure on millions of homeowners. Mix this in
with mounting job losses across the country
and we have a situation where homeowners
are losing their homes and are becoming
tenants all over again.
How do you deal with a landlord after being a
homeowner for 10 years or longer? Here are
some tips.
Read your lease.
Carefully review all the conditions of the lease.
Ask questions if you don't understand
something. If necessary have the lease
reviewed by an attorney. There are several
non-profit community agencies that will look
over your tenant's agreement free of charge.
Present your documents.
Landlords are impressed with paperwork. Be
prepared to show that you can afford the
property and that you will be a good tenant.
Have a copy of your credit report, an
employment letter, two pay statements and
three reference letters. Also have the rental
application completed.
Demand repairs.
Landlords are required to offer their tenants
livable premises. These include sanitary
conditions, adequate water, electricity and
heat. If the unit is lacking repairs and is in an
unlivable conditions, the tenant has a few
options. He can withhold a portion of the rent,
or have the repairs done and deduct the costs
from the rent. He can also call the building
inspector and let the code enforcement
department force the landlord to fix the
problems. As a final option, the homeowner
can vacate the property without liability for
future rent.
Communicate with your landlord.
Keep the lines of communication open with
your landlord. If there is an issue make sure you
keep a record of emails and letters involving
the dispute.
Review the security deposit policy.
Be clear with the landlord regarding the security
deposit. The landlord can keep all or a portion
of the security deposit under certain conditions.
When you are accepted for the unit, and you do
a walk through with the landlord, take pictures
of any damaged areas.
Purchase renter's insurance.
Renter's insurance protects the tenant against
theft or damage. It also covers the tenant if
someone is injured in your unit, and
subsequently sues. The cost of insurance is
about $350 for $50,000 of coverage.
Understand the eviction policy.
Know when to fight an eviction notice and when
to simply move on. You should definitely fight if
the premises were uninhabitable, or if the
landlord did not serve proper notice. If a tenant
loses an eviction lawsuit he can be faced with
thousands of dollars in legal fees and court
costs.
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