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Author Archives: kgontarski
Renting your property
If you’re thinking about renting out your property, it’s important to set a rent that will cover your costs, earn you a profit, minimize vacancies and provide value to your tenants. The key factor in determining your home’s rental price … Continue reading
Posted in Home, Rental Industry, Uncategorized, Welcome
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The Protecting Tenants at Foreclosure Act
Background The Protecting Tenants at Foreclosure Act of 20091 became effective on May 20, 2009. This new law protects tenants from immediate eviction by persons or entities that become owners of residential property through the foreclosure process and extends additional … Continue reading
What is a Conditional Acceptance Letter?
A Conditional Acceptance Letter is a letter that specifies additional requirements such as additional deposit monies or that the tenant applicant has to meet to be accepted as a tenant. The Fair Credit Reporting Act requires that a form of … Continue reading
What is a Denial Letter With Reasons?
A Denial Letter with Reasons is also known as an Adverse Action Letter with Reasons. It’s very similar to the Denial Letter but it provides specific reasons for denial based on information in the applicant’s a consumer report. A form … Continue reading
What is a Denial Letter?
A Denial Letter is also known as an Adverse Action Letter. The Fair Credit Reporting Act requires that a form of this denial letter or adverse action letter must be provided to any rental applicant you choose to deny residency … Continue reading
Market Switching Condos to Rentals
By ELIOT BROWN of the Wall Street Journal For at least three years, Related Cos. had been planning for the 151 apartments on the highest floors of its new apartment tower in Midtown to be condominiums, sitting atop 663 … Continue reading
Posted in Rental Industry
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When Your Tenant Won’t Pay
There comes a point when apartment owners find that despite their best efforts at resident screening, they will have to grapple with evictions and collections in response to non-payment of rent. The weak labor market is currently contributing to greater … Continue reading
Posted in Home, Rental Industry, Tenant Evictions, Tenant Rights
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Government seeks to sell foreclosures as rentals
The Obama administration said on Wednesday that it was soliciting ideas on how to turn the federal government’s inventory of foreclosed houses into rental properties that could be managed by private enterprises or sold in bulk. The goal, the administration … Continue reading
Posted in Home, Rental Industry, Uncategorized
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Turning a tenant applicant down because of their credit report information? Know your legal obligations!
The FCRA requires you as the potential property manager/landlord to give an adverse action notice to each consumer whose credit report was used to deny their lease application. The consumer is also then entitled by the law to a free … Continue reading
Natural Disasters and Tenant’s Rights
When natural disasters strike affecting the condition of your rental properties, know your tenant’s rights: If the premises are damaged or destroyed other than by the wrongful or negligent acts of the tenant so that the enjoyment of the premises … Continue reading
Posted in Uncategorized
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