Have you paid your rent late?

You have rights when you pay your rent late. Let me know what questions you have regarding late rent payments.

When a company says....

If you are reviewing a company's website and that company says their associates (or employees) come first. This is your first hint to RUN in the OPPOSITE direction and away from their properties.

Even if they say the associates will put you first... In the end it means that they value the word and opinion of that associate over you. So if you move onto their community and have a complaint or concern, it will not be valued. You will receive the run around, and very likely will NOT get your complaint or concern resolved. Especially if you expect an answer from the corporate office. Who could easily resolve the problem. Any questions? Let me hear them...

New Company Takeovers in your community

Sometimes it happens, a company sells your community. Or that company hires a new fee management company. This means they will pay this company to come in and do the work for them for a fee.

When this happens they must have you sign a new lease. You are not bound at that point to continue your rental if you do not wish to do so. You may at that time submit a 30 day notice. Do not fret, you are not bound by the lease from the other fee manager or owner.

Move In Inspections

Before signing the lease, complete the move in inspection. Every community has one. If a community wants you to lease a unit site unseen, RUNNNN!!!! Inspections are very important because they account for any damages in the unit before you move in. And be sure to document everything. I had a leasing consultant to give the inspection sheet to me for completion. This is a no -no. Have that leasing consultant complete the walk with you and again document everything from the walk up to door all the way to the very last corner of the unit. Every scratch should be documented because when you move out you do not want to be held accountable for damages you did not do. Make sure you document the status of the carpet, walls, countertops, stove, doors, ceiling, windows, fireplace, refrigerator, closets.... Get the picture??? And get a copy for your records. Many times the manager does not want to include the damages because it would mean their leasing consultant may not get her commission for the move in. If you try to be nice and sign a different move in form with less damage it will come back to bite you. My suggestion would be to keep a copy of them both if you choose to help out. And submit a letter to them via certified mail that the work has not been completed and you want the maintenance ticket if/when any work in the unit is be done.

At move out, the leasing office will try to charge you (your security deposit) for painting, cleaning and getting the unit ready for another resident. Make sure you complete a moveout inspection and again with the leasing consultant or Assistant Manager (AKA business manager - he/she inputs rent and all other fees). Make sure you complete the moveout inspection on the same sheet as the move in inspection. And remember to get a copy.

Unit = apartment, condo, home,

Rental Rates

Rental rates are based on market trends. Before agreeing to a rental amount selected for you, haggle a little. Once you've made it past the background check, and the company has verified that you are a viable resident, make them work for your money. There are very likely to be communities in the area where the rent is relatively lower. Let them know you've researched the area and community XYZ has a cheaper rental amount for the same size unit. If they really want you to lease they'll let you have it at that rate. If they don't and you really want to live on that particular community tell them you want to speak with a Regional or someone in the corporate office. Believe me, they want you to lease!

Price to rent ratio:

Take similar homes, one for sale the other for rent (any rental: apt, condo, townhome), and divide the sale price by the annual rent. The result is the rent ratio.

If you're enamored of the age old wisdom that renting a home is akin to throwing your money away think again. A simple calculation called the "price to rent" ratio can give you an indication of whether it's a better move to rent or buy a home.

I've compared the price of a 2 bedroom home, including mortgage fees and maintenance expenses, with the average rental price for 2 bedroom apartments, condos and townhouses. In cities with price to rent ratios between 16 and 20 indicate that is cheaper to rent than purchase a home, but certain financial situations may make ownership a viable option. In cities with price to rent ratios of 21 and above, it is much more expensive to buy than to rent.

Cities where it's cheaper to rent than buy are:

#5 San Diego
#4 New York
#3 San Fransisco
#2 Omaha
#1 Seattle

Be advised, when you're looking to rent be sure to keep this in mind. If the rent exceeds 1/3 of your income, you cannot afford it. Keep looking! ;0)

I started this blog for those of us who are tired of the lies and deception. I've worked in the property management industry for over 15 years. Most companies tell you what you want to hear, show you a model unit that's maintained daily and take you along a route that's being cared for consistently to convince you that their community is where you want to live.

Then when you sign the lease you realize it's not what you thought. The steamed carpet you believed was shampooed or new has lost it's luster, the bugs you didn't see finally came out of the closet, the cabinet doors you now open on a regular basis are easily broken, the leasing agent who was so nice to you during your move in has the nastiest attitude now that you live onsite.

Then you look at the bigger picture. None of the people in the corporate office look like you. The rent that you and all the other renters pay every month does not reciprocate back to the community. Meaning, the route you were taken on to view the property and the drive around the community itself often times are the ONLY things being maintained onsite.

Well I'm here to offer a refreshing approach to renting and owning. I will give you insightful information on what to look for and what to catch when searching for a place to live and invest your money. I would like to help you from day one of your process throughout your renting or owning life.