What are the landlord’s options if the tenant’s security deposit is insufficient to cover costs of property repairs due to tenant damage, cleaning the rental unit, and tenant unpaid rent? The purpose of a security deposit is to provide the landlord with funds owed by the tenant if the tenant fails to pay rent as […]

Verifying past employment of a job candidate is an important step in the hiring process. The employer must determine as well as possible or practical that the candidate has presented factual and true information on his resume and application regarding employment history. The purpose of the verification is to independently confirm the candidate’s employment by […]

The implied warranty of habitability requires a landlord to offer and maintain leased premises in a safe and sanitary condition fit for human habitation for the duration of the lease. The tenant’s covenant of quiet enjoyment ensures the tenant that during his tenancy, his use and enjoyment of the dwelling unit will not be disturbed […]

To protect your business you may decide that,, even though the tenant originally qualified, you need to evaluate the tenant’s potential future financial risk. A tenant who qualified under your rental standards a year ago may have had a change in circumstances that may not meet your current qualification criteria. Be sure you understand current […]

You will need to take documented, formal enforcement of your lease terms and conditions.  A warning notice, oral or written, may be appropriate for a tenant’s first time violation of a lease term or condition that is not a material default of the lease or a potential threat to neighbors or property. While a tenant […]

Difficult to predict in timing, severity, and duration, a natural disaster can cause major damage to, even destruction of a landlord’s real property. The damage and destruction to a property can cause business interruption to and even failure of the business. A landlord should be prepared with contingency plans to address a natural disaster situation […]

Property damage and noise disturbances are the most frequently cited problems in renting to college students. Damage including excessive wear and tear to the property can result from having multiple occupants in the unit and frequent visitors to the property. Property damage can also occur if tenants ignore maintenance issues which could cause major damage […]

Your tenant screenings are priority risk management measures for all rental markets and demographic populations. While some student renters may have limited history in credit, employment, or independent housing, standard tenant screenings should always be conducted. No assumptions should be made regarding an applicant’s history or qualifications. Without screenings you cannot make an informed decision […]

There are some common risk management practices that can help protect your business. You may you need to add or modify rental practices to better support your individual business. Many students are first-time renters and have little to no experience in an independent living arrangement. As the landlord you may need to be more actively […]

Due diligence in evaluating the business risk of a rental applicant requires the use of tenant screening as a core practice in business risk management policy. Tenant screening assesses the applicant’s potential future risk of material default of lease terms and conditions that would result in financial loss to the landlord if the applicant were […]