TIP OF THE MONTH - January 2012
RENTING ”AS IS”
Source: The Landlord’s Handbook-2nd Edition
Daniel Goodwin & Richard Rusdorf
Landlords rent apartments “as is”, and require Tenants to decorate and
upgrade. In this way, the Landlords save money and Tenants can
decorate the apartments to their specific tastes. But most
Tenants do not want to invest their own money and time improving
someone else’s property. Also, you may get a Tenant who wants purple
walls with a dragon mural. If you allow Tenants to do their own
decorating, limit colors of paint and wallpaper patterns.
There is another drawback to renting an
apartment ‘as is”. Few prospective Renters can visualize how a
shabby-looking apartment can be transformed with new carpeting, freshly
decorated walls, and a thorough cleaning job. Thus, good Tenants
will be reluctant to rent an apartment “as is” and you may have to
allow a big deduction on the rent.
NOTE FROM CROSSETT REAL ESTATE SERVICES
Our policy is to show and offer rental
units in a “rent ready” condition, do not allow any deductions on rent,
have a Codes Inspection prior to each re-rental.
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This web page was updated on 12/28/2011.