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A Landlord’s Guide on How to Help Tenants During the Covid-19 Pandemic – Keyrenter Richmond

The COVID-19 crisis has left millions of Americans in a tight financial spot. Many have been furloughed, laid off, or had to close their businesses. Others are saddled with medical bills from hospital stays or are dealing with grief from losing a loved one to the novel Coronavirus.

With so many tenants begging for rent relief, landlords across the country are also in a tricky spot. Property management is expensive, and while being able to cancel rent would be great, it could do a lot more harm than good.

If you’re trying to figure out how to help tenants through these difficult times, there are still a few things you can do. Read on to learn some other ways to offer landlord help and show you care without losing out on rent.

Stay Up-to-Date on the Pandemic

First and foremost, make sure you’re getting your Coronavirus information from a reputable source.

Turn to accredited entities like the World Health Organization for updates. Don’t listen to the speculations of friends on Facebook or biased media outlets. The number of cases in your area and new safety recommendations may inform how you approach property management.

Consider sending weekly email updates to your tenants about the pandemic. Let them know the current status in your area, instructions for safety procedures, and any restrictions you have in place on your properties. This lets them know that you’re aware of the situation and have their best interests in mind.

Reduce Points of Contact

Early in the pandemic, all but the operations deemed “essential” were either put on hold or switched to remote work to flatten the curve. Even though many businesses are open again, reducing contact is still the best way to protect yourself and others.

Whenever possible, close down the office and conduct your duties remotely. You may want to allow one person at a time to hold office hours or offer in-person meetings by appointment only. Ask all parties to wear functional masks and practice social distancing when a meeting can’t be avoided.

Stay on Top of Your Landlord Duties

Even in the midst of a pandemic, the need to provide services to tenants continues. Even so, to cut disease transmission, you may have to change how you approach them.

With evidence that COVID-19 can spread through touch, frequent cleaning and disinfecting of all common areas is vital. This includes your office space, building lobbies, and apartment hallways and stairwells. If you manage single-family residences, offer a guide on how your tenants can disinfect their own spaces.

Keep home visits for routine maintenance inspections to a minimum whenever possible. Try using a video chat app like Zoom or Facetime for check-ins instead.

Revise Rent Regulations

Even though you can’t cancel rent entirely, you may be able to make it easier for your tenants who are struggling. Take a look at your policies for late fees to see if they can be relaxed, and try to offer flexible payments on a case-by-case basis. It’s better to help a responsible tenant through hard times than to be faced with an unexpected vacancy.

Follow These Tips for How to Help Tenants Through the COVID-19 Crisis

In an ideal world, we could offer total rent relief without any negative repercussions. Until then, though, using this guide on how to help tenants in other ways can show them you care while still covering expenses.

If you need some extra help providing exceptional service to tenants during these difficult times, Keyrenter Property Management of Richmond is here for you. Contact us online or give us a call today to learn more about our comprehensive services.

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What Can Landlord Deduct from a Security Deposit?: General Rules a Landlord Should Follow – Keyrenter Richmond

The rules for a security deposit can be very confusing. Most landlords require a security deposit, but once the tenant moves, there can be a dispute with the tenant regarding their deposit. They believe that the unit was tidy and clean. You noticed damage or lack of cleanliness. What can landlord deduct from a security deposit? It’ll depend on laws in your state, but here are some general rules and concepts that can help.

What Can Landlord Deduct from a Security Deposit

General Rules for Withholding

The landlord can withhold the deposit to be put towards damages. The damages could be material or financial in nature. This means that you can deduct for damages that go beyond normal wear and tear as well as past due rents or fees the tenant owes.

State Laws in Your Area

It’s important that you research the exact laws that impact a deposit. For example, some states require that the money is put into an account that will make interest on deposits. They also might dictate whether you can mingle the deposits with your personal or business bank account.

The biggest part of the law in your state will tell you what you can and can’t deduct from the deposit as well as the time frame for returning the money or the written notice you must provide if you’re only returning a partial deposit.

Good Rules for Landlords

You can develop your own guidelines that will keep you safe and secure that you’re taking all the right steps for collecting and reimbursing deposits.

Prior to the tenant moving into the unit, it’s great for you and the tenant to walk around and make note of all the areas. The tenant can sign the condition checklist. This will give you both a base to compare when the tenant moves out of the unit.

When the tenant moves, do a walk-through together if possible. This is the time to make note of any repairs that will be the tenant’s responsibility. If the tenant doesn’t show up for the walk-through of the unit, you should take pictures and list the damages. This is especially important if you plan on keeping part of the deposit for the repairs and damages.

Unpaid Rent and Abandonment

A tenant who abandons the apartment and doesn’t pay rent leaves themselves open to losing their deposit. Landlords question, “What can landlord deduct from a security deposit?” This is because they’re usually questioning an unusual scenario like this. When the tenant owes money for rent, you can take it from the last month’s rent they paid on move-in day. They are also responsible for not giving you notice though.

Broken Lease

While you can’t automatically keep the deposit because a tenant leaves the rental, you might be able to if the tenant breaks the lease. It will depend on whether the tenant left owing rent, fees like parking or utility bills. You can apply the deposit to financial damages as well as real damages and repairs.

If the deposit is used to pay a part of the last month’s rent because you didn’t ask for that at the start, you are responsible for returning the rest of the funds to the tenant.

A tenant who doesn’t pay the rent but continues to live in the unit should be evicted as soon as possible. The amount of a deposit is usually one month, which means that you could end up with a few months’ rent coming out of your own pocket while you fight to evict then rent the unit to a new tenant.

The Concept of Normal Wear and Tear

When asking, “What can landlord deduct from a security deposit?” it’s often a landlord who has a messy unit on his or her hands. Normal wear and tear can’t be avoided because the tenant has to have reasonable use of the apartment during their tenancy. The landlord isn’t allowed to deduct normal wear and tear from the security deposit when a tenant moves.

Normal wear and tear would be considered wallpaper or paint that has faded from the sun. Nail holes from hanging pictures is usually not deductible from the deposit either. Repair to windows and doors that have become stuck or warped due to moisture or age can’t be taken from the tenant’s deposit.

There’s a natural deterioration that happens as the building ages. That can’t be the tenant’s responsibility. If the deterioration comes from repeated abuse, negligence or carelessness from the tenant, it could be deducted from the deposit.

Cleaning and Damage to the Unit

Large holes in the walls are an obvious deduction from the security deposit. Others might be broken or missing window screens, appliances broken due to abuse, dirt, and filth from a tenant who didn’t clean properly and damages from lack of proper use.

A landlord who has to pick up and remove small items from the unit doesn’t have grounds to withhold the deposit. Often, it can be more hassle than it’s worth. Taking a broom to the unit to sweep it clean shouldn’t be a problem, but if there’s trash and junk all over the unit, that can be worth keeping a part of the money.

Painting

Every few years, the unit should be painted. A simple paint job that is common to a unit that needs to be rented shouldn’t be grounds for keeping a deposit. If the tenant painted in a terrible color or painted art on the walls that needs extra work, that can cause them to forfeit some of their money.

Some long-term tenants like to paint themselves every few years. If that’s the case and the tenant made improvements, you might want to thank them when returning the deposit in full.

When you are planning to keep the deposit, document all the work and provide receipts for all the materials needed to make the repairs. What can landlord deduct from a security deposit will always depend on the state laws as well as restrictions in the lease, how much is normal wear and tear and what goes beyond normal.

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5 Landlord Responsibilities Every Landlord Should Know – Keyrenter Richmond

Keyrenter Property Management Blog Richmond Landlord Responsibilities

Did you know that there are over 48.5 million rental units in the US? While there aren’t many accurate statistics on how many landlords there are, suffice it to say that that million rental units means that there are quite a few landlords across the US. 

If you are a new landlord or are considering purchasing a rental property, there are certain requirements that, by law, you must follow. Keyrenter Richmond outlines some of the most important responsibilities you should have as a landlord below.

1. “Warranty of Habitability”

In simple terms, this means that the landlord must provide a safe and habitable space for the tenant. Habitable means that the rental unit must be secure and free of hazards.

The necessary utilities must be provided, including water, appropriate heating systems, and electricity. The unit must be pest free and any damages to windows or doors that would render the unit unsafe must be repaired. 

If there are local requirements pertaining to safety, those must be followed as well, such as lead paint disclosures, providing safety measures such as handrails and appropriate outdoor lighting, and removal of snow, ice, or other hazards (unless it is specified otherwise in the lease).

2. Making Repairs Promptly

Landlords may not be obligated to repair certain things immediately, such as ripped carpet or something that doesn’t impact the habitability of the rental unit, but other repairs must be made promptly. Broken HVAC systems, sewage backups, water damage, malfunctioning sinks or toilets, and shorted wires or electrical problems must be addressed. 

Your state or local area may have requirements as to how quickly repairs must be made, so be sure you are adhering to these laws. 

3. Maintaining Insurance 

Landlords do not have to insure the personal belongings of tenants, but they are responsible for insurance policies covering the structure. Tenants need a renters’ insurance policy to cover any of their personal effects inside the unit, but the landlord will hold the insurance to cover things like the roof, walls, and outdoor spaces. 

Any damage to the structure is the responsibility of the landlord and their insurance company, not the tenants.  

4. Provide Contact Information for Emergencies

Whether you provide your tenants with your contact information or that of a property management firm who handles emergencies and maintenance requests is up to you, but you must provide some way for tenants to report any emergencies or make maintenance requests.

If you are an absentee landlord who does not maintain the property, you face the risk of legal repercussions from code enforcement or other agencies. 

5. Return Security Deposits in a Timely Manner

The lease should specify when the security deposit will be returned. This is typically dictated by state law and is often between 30 and 60 days. When the tenant moves out, landlords must do a walk through and note any damage that is present.

If you are going to withhold any part of the security deposit, you must document the damage and the deduction. Most states will not allow you to withhold part of the security deposit for normal wear and tear, so be sure to clarify what you can charge your tenant for upon their departure. 

Landlord 101: What You Should Know Before Becoming a Landlord

These are just a few of the important things you should know before becoming a landlord. It is a big responsibility and can take a considerable amount of time, especially if you want to do it right. One of the most crucial tips is to make sure you are knowledgeable about landlord-tenant law in your state. 

If this all sounds a bit overwhelming, considering hiring a property management company to handle the landlord duties for you. They can handle all aspects of renting, from advertising your property, screening tenants, preparing leases, handling repairs and maintenance, and facilitating move out.

Contact us at Keyrenter Richmond today to learn about how we can help you be a successful landlord. 

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