LL Slapshots

Accepting rent after the expiration of the lease indicates a mutual willingness to continue the tenancy. The law presumes that when a lease expires, it becomes M2M unless renewed.

LL Slapshots

Keep your relationships healthy. Not just with your SO and the kids, but with your bankers, tenants, subcontractors, property managers, plumbers, CPA, financial planner, lenders, LL Association, and realtors. You need their support to run a successful, profitable business.

LL Slapshots

What about the security deposit. Again, this is state specific. Generally, deposit money is any money held by the LL, including, but not limited to, security for the duration of the agreement, damage deposits, advance rent deposits, pet deposits, or any contractual deposit agreed to between LL & tenant. A landlord can retain a tenant’s security deposit for physical (property damage beyond normal wear & tear, be it via willful or neglectful actions) or monetary damages (monetary can be tenant’s breach of the agreement prior to expiration of lease/agreement).

LL Slapshots

It is the landlord’s responsibility to ensure that all lease addenda comply with the state landlord/tenant laws. If your addenda contradict state law, then the addendum is considered invalid and tenants are not allowed waive any rights granted under a state statute.

LL Slapshots

Maintenance and damage repair to the common areas of a multi-family unit are the landlord’s responsibility…including light bulbs.

LL Slapshots

If you want to attract good, well-qualified tenants – you have to offer well-maintained properties. Quality tenants will not settle for substandard housing units.