noshow_nogo

I am renting out my parent's old apt to a young couple. I used one of those "Lease" contracts you find at Staples since they are a family friend. The rent was 1000 to start with and 1.5 years later I raised it by $50. 8 months afterwards, I raised it by another $50, which makes it now $1100. Given it's a family friend I'm not making any money and breaking even with the mortgage payment and condo fees I have to pay back. Increases were due to property taxes going up.

Once a year there is what they call a "Recreational Fee" that is assessed for use of the pool during the warm summer months. This was agreed upon to be payable if not in full, but in monthly installments over 6 months of rent. It was due in June, however, is still not paid. Is this something I can deduct from the security deposit and is it something I must disclose to them? They're family to us, but that was probably our first mistake because they seem to choose to decide when they pay the rent. I want to stay within legal limits.

Cliffs:

- I'm renting an apt to a couple.
- Couple won't pay annual fee for use of condo pool.
- Can I deduct this from their security?

dave

moeronn

I don't think you can deduct that from the security deposit - especially if it was not included in the original contract, but don't take my word for it.

I would just raise the rent enough to cover that fee. However, I would keep the rent increases spaced out so they fall on full year cybles - and make them resign an annual lease.

MR1

Take moeronn's word for it. The active lease spells out all conditions. That plus current law is your agreement, no more or less.

If you want anything different, work it out with them verbally then put it in writing. The only other way to include anything is to write a new lease at the end of the current one and obtain their signatures then.

RaviNJCLs

iTrader: (4)

If it was not in the rental agreement, then you do not have any grounds to deduct it from the deposit. You need to discuss it with them. And I agree that it is a good reason to raise the rent. $1100 is really good for North Jersey.

Almatti

A Rent of $1100 sounds Dirt Cheap today. Unfortunately, when doing business with "family Friends", that brings some dangerous ingredients into the soup. If it were your own Children, that's one thing, this is another. My advice would be get it in writing, signed appropriately by LL and Tenant. With expired leases - making the occupancy a Month -To Month "Verbal" agreement will and can cause problems, particularly in these Times (COVID,etc.) if you had to go to court. As a Former (Retired) Mortgage Loan Officer for Savings Bank over 45 years, whenever we saw MTM leases / rental agreements, they would be Discounted for apparent reasons. Expired leases and /or Rental Agreements actually is allowing a Squatter in your property. Housing Eviction has become extremely difficult since COVID.