1 00:00:00,120 --> 00:00:02,920 Speaker 1: Welcome to How the Money. I'm Joel and I'm Matt's 2 00:00:03,000 --> 00:00:25,800 Speaker 1: and today we're discussing what every renter needs to know. Joel, 3 00:00:25,840 --> 00:00:27,680 Speaker 1: to be a renter, you remember those days when you 4 00:00:27,680 --> 00:00:30,920 Speaker 1: didn't have to worry about fixing anything, or we're getting 5 00:00:30,920 --> 00:00:33,240 Speaker 1: emails at random hours, or having a spray for bugs, 6 00:00:33,360 --> 00:00:35,160 Speaker 1: whatever it is that you do. You mentioned last week, 7 00:00:35,400 --> 00:00:37,680 Speaker 1: kick back your arms behind your head. It was so nice. 8 00:00:37,880 --> 00:00:39,640 Speaker 1: Was it the good old days? You know, we've dedicated 9 00:00:39,760 --> 00:00:43,040 Speaker 1: entire episodes to being a landlord and investing in real estate, 10 00:00:43,080 --> 00:00:46,400 Speaker 1: and we decided it was time to talk about renting 11 00:00:46,560 --> 00:00:49,440 Speaker 1: from the renter standpoint. Yeah, and we've discussed in previous 12 00:00:49,479 --> 00:00:52,840 Speaker 1: episodes how renting is often thought of as throwing money 13 00:00:52,880 --> 00:00:56,120 Speaker 1: away and we completely disagree with that sentiment. Matt. We've 14 00:00:56,120 --> 00:00:59,000 Speaker 1: talked about that in prior episodes, So if you're interested 15 00:00:59,080 --> 00:01:01,080 Speaker 1: in knowing a little more about that, check out an 16 00:01:01,120 --> 00:01:04,200 Speaker 1: older episode called Renting Versus Buying. But Matt, before we 17 00:01:04,240 --> 00:01:06,399 Speaker 1: get into what every rentor needs to know, I wanted 18 00:01:06,400 --> 00:01:08,840 Speaker 1: to quickly mention an awesome discount that I asked for 19 00:01:08,920 --> 00:01:11,280 Speaker 1: the other day that really panned out for me. Lay 20 00:01:11,319 --> 00:01:14,120 Speaker 1: it on me, So I went to our local Kroger 21 00:01:14,520 --> 00:01:15,960 Speaker 1: the other day. Usually I'm at all the yea, what 22 00:01:15,959 --> 00:01:17,760 Speaker 1: do you doing at Kroger Man? Usually I'm at Aldi. 23 00:01:18,040 --> 00:01:19,680 Speaker 1: But I had like a couple of last minute things 24 00:01:19,720 --> 00:01:21,319 Speaker 1: to pick up, and there there are some things that 25 00:01:21,360 --> 00:01:23,600 Speaker 1: Aldi just doesn't carry, That's for sure. I love all 26 00:01:23,640 --> 00:01:25,839 Speaker 1: the I love the simplicity, the fact that they carry 27 00:01:26,400 --> 00:01:28,640 Speaker 1: of the things I need, but that one per cent 28 00:01:28,720 --> 00:01:30,840 Speaker 1: sometimes I gotta make that Kroger run. Our girls are 29 00:01:30,840 --> 00:01:32,920 Speaker 1: always wanting band aids, and I don't think that's something 30 00:01:33,000 --> 00:01:34,920 Speaker 1: that Aldi carries. Right now, stepping up all the Let's 31 00:01:34,920 --> 00:01:37,480 Speaker 1: get some band aidids. That'd be nice. But at the 32 00:01:37,520 --> 00:01:40,400 Speaker 1: same time, Kroger also has a much better flower selection, 33 00:01:40,520 --> 00:01:42,080 Speaker 1: and I like to get my white flowers every once 34 00:01:42,080 --> 00:01:44,480 Speaker 1: in a while. Right It's like a humble bragg or 35 00:01:44,520 --> 00:01:46,520 Speaker 1: wa come on, I'm a sweetheart. Okay, That's that's what 36 00:01:46,560 --> 00:01:49,080 Speaker 1: I'm trying to say. So I went in on a 37 00:01:49,080 --> 00:01:52,080 Speaker 1: particular morning and it was looking at the tulips that 38 00:01:52,160 --> 00:01:54,280 Speaker 1: are her favorites mine too. I like some nice tulips, 39 00:01:54,280 --> 00:01:58,320 Speaker 1: and nice they're beautiful, sleek flowers exactly as flowers go. 40 00:01:58,400 --> 00:02:01,080 Speaker 1: They're pretty modern, you know, like real clean lines you know, 41 00:02:01,120 --> 00:02:03,600 Speaker 1: they're not real folky. I love the way too that 42 00:02:03,760 --> 00:02:05,960 Speaker 1: when they're sitting in the sun they kind of bend 43 00:02:06,440 --> 00:02:08,600 Speaker 1: in all interesting directions. They almost kind of look like 44 00:02:08,800 --> 00:02:12,040 Speaker 1: Medusa's hair or something. They're really cool, fantastic flowers. So 45 00:02:12,040 --> 00:02:14,400 Speaker 1: I got these really pretty purple ones. But the thing 46 00:02:14,520 --> 00:02:16,799 Speaker 1: was on the tag of the flowers, it said that 47 00:02:16,840 --> 00:02:20,440 Speaker 1: they were on their last sell by date, so after 48 00:02:20,840 --> 00:02:22,720 Speaker 1: that day they were either going to throw them away 49 00:02:22,840 --> 00:02:25,640 Speaker 1: or put them in some sort of crummy flower arrangement 50 00:02:25,720 --> 00:02:28,280 Speaker 1: something like that. And so I asked the person working 51 00:02:28,280 --> 00:02:30,520 Speaker 1: in the floral department if they'd be willing to give 52 00:02:30,520 --> 00:02:32,079 Speaker 1: me a discount on the flowers since it was the 53 00:02:32,120 --> 00:02:34,240 Speaker 1: last day that they could sell them, and she was 54 00:02:34,280 --> 00:02:36,480 Speaker 1: more than happy to do it. So it was a 55 00:02:36,480 --> 00:02:40,360 Speaker 1: thirteen dollar bouquet of beautiful purple tulips that I got 56 00:02:40,440 --> 00:02:45,480 Speaker 1: for a dollar fifty, no joke, I know, right, discount. 57 00:02:45,600 --> 00:02:48,360 Speaker 1: So you remember we did it an episode specifically about 58 00:02:48,360 --> 00:02:50,160 Speaker 1: asking for a discount, and this is just one of 59 00:02:50,200 --> 00:02:52,480 Speaker 1: those cases where they go for it. I saw the 60 00:02:52,560 --> 00:02:54,200 Speaker 1: date on it. Why not ask the man? I'm proud 61 00:02:54,240 --> 00:02:56,400 Speaker 1: of you. That's a huge discount, thirteen bucks down to 62 00:02:56,560 --> 00:02:59,000 Speaker 1: a dollar fifty. It's that's that's hard to be right there, 63 00:02:59,120 --> 00:03:00,919 Speaker 1: I know, right, So yeah, I just want to encourage 64 00:03:00,919 --> 00:03:04,160 Speaker 1: people to that asking for a discount is widely applicable 65 00:03:04,240 --> 00:03:07,000 Speaker 1: in a lot of situations, and so I just exercise 66 00:03:07,120 --> 00:03:10,440 Speaker 1: my god given American rights to ask for a discount 67 00:03:10,440 --> 00:03:13,160 Speaker 1: and it worked out. Okay, you want to introduce this 68 00:03:13,280 --> 00:03:16,680 Speaker 1: beer that we're having today, Sure, yeah, Listener, Tiffany actually 69 00:03:16,720 --> 00:03:18,680 Speaker 1: sent us a beer tonight, so super kind of her. 70 00:03:18,840 --> 00:03:21,959 Speaker 1: This is Russell Kelly pale Ale and it's from Tell 71 00:03:22,000 --> 00:03:24,400 Speaker 1: Your Ride Brewing Company. Matt, have you ever been to 72 00:03:24,440 --> 00:03:28,200 Speaker 1: Tell Your Ride Colorado? I have not you I have actually, 73 00:03:28,720 --> 00:03:31,520 Speaker 1: and uh it is a lovely town. It is this 74 00:03:31,880 --> 00:03:34,520 Speaker 1: beautiful little ski town in kind of the middle of 75 00:03:34,560 --> 00:03:37,880 Speaker 1: nowhere Colorado. Um. And there are a couple other small, 76 00:03:37,960 --> 00:03:41,280 Speaker 1: amazing cool small towns surrounding it about an hour away. 77 00:03:41,440 --> 00:03:44,720 Speaker 1: There's Durrango in particular, there's a cool little town called 78 00:03:44,760 --> 00:03:48,360 Speaker 1: Pegosa Springs that has this amazing hot springs area. Yeah. Well, 79 00:03:48,400 --> 00:03:50,960 Speaker 1: on this can there's a picture of a dude up kayaking. 80 00:03:50,960 --> 00:03:53,400 Speaker 1: Have you heard a kayaked before? I don't think so. 81 00:03:53,560 --> 00:03:55,840 Speaker 1: Maybe a little white water rafting, but never kayaked this 82 00:03:55,840 --> 00:03:58,480 Speaker 1: This guy is like kayaking for real. Um. I tried 83 00:03:58,480 --> 00:04:00,720 Speaker 1: it once when I was living up an Ashville on 84 00:04:00,760 --> 00:04:04,200 Speaker 1: the French broad and I almost drowned. So I'm never 85 00:04:04,240 --> 00:04:06,720 Speaker 1: gonna do that again because it totally sucked. At a 86 00:04:06,760 --> 00:04:08,800 Speaker 1: tough time with it. I'm just gonna say that. All right, man, 87 00:04:08,840 --> 00:04:11,680 Speaker 1: I guess there's no more kayaking in either of our futures. Yeah, 88 00:04:11,720 --> 00:04:14,400 Speaker 1: so things again to Tiffany for sending us some Russell 89 00:04:14,480 --> 00:04:16,800 Speaker 1: Kelly pale Ale, and we'll talk more about this beer 90 00:04:16,839 --> 00:04:18,440 Speaker 1: at the end of the show. All right, Matt, So 91 00:04:18,480 --> 00:04:21,400 Speaker 1: onto the topic at hand, What every renter needs to know. 92 00:04:21,839 --> 00:04:23,680 Speaker 1: Our goal here in this episode is to kind of 93 00:04:23,720 --> 00:04:27,880 Speaker 1: provide an overview for someone who is currently a renter, 94 00:04:28,080 --> 00:04:30,320 Speaker 1: for someone who is looking to rent a new place, 95 00:04:30,720 --> 00:04:33,719 Speaker 1: but try to provide some insights for the potential issues 96 00:04:33,760 --> 00:04:36,560 Speaker 1: that renters face, how you can look out for yourself, 97 00:04:36,720 --> 00:04:39,440 Speaker 1: how you can find a good place to live, and 98 00:04:39,480 --> 00:04:43,159 Speaker 1: how you can deal with your landlord effectively, amongst other things. 99 00:04:43,200 --> 00:04:45,359 Speaker 1: So this is gonna be kind of a wide ranging episode, 100 00:04:45,600 --> 00:04:47,440 Speaker 1: trying to cover just a lot of things that are 101 00:04:47,480 --> 00:04:50,320 Speaker 1: perspective or current renter needs to know. Yeah, Jolson, when 102 00:04:50,360 --> 00:04:53,000 Speaker 1: renters are looking for a place, we're gonna talk about 103 00:04:53,120 --> 00:04:55,360 Speaker 1: some things to watch out for. There can be issues 104 00:04:55,400 --> 00:04:58,600 Speaker 1: with landlords, both big and small, like small as in 105 00:04:59,080 --> 00:05:01,440 Speaker 1: like mom and pop landlords like you and I. Right, 106 00:05:01,640 --> 00:05:03,680 Speaker 1: that's what we do. Yeah, we each have just a 107 00:05:03,680 --> 00:05:06,800 Speaker 1: few rentals of our own, and so we're small time. Yes, 108 00:05:06,800 --> 00:05:09,599 Speaker 1: so we're speaking to this from personal experience as well. 109 00:05:09,880 --> 00:05:12,120 Speaker 1: But then the issues when it comes to bigger landlords, 110 00:05:12,120 --> 00:05:15,320 Speaker 1: they're just more well documented. Be sure to check reviews 111 00:05:15,440 --> 00:05:18,359 Speaker 1: for bigger apartment complexes. You can go to a site 112 00:05:18,440 --> 00:05:22,880 Speaker 1: like apartment ratings dot com and it's actually very robust. 113 00:05:22,960 --> 00:05:25,880 Speaker 1: I spent some time on there earlier today, and I 114 00:05:25,920 --> 00:05:27,480 Speaker 1: was checking out some of the apartments near us to 115 00:05:27,520 --> 00:05:29,760 Speaker 1: kind of see how they did. Some not so great, 116 00:05:30,120 --> 00:05:33,400 Speaker 1: but either way, whether they did well or not so well, 117 00:05:33,680 --> 00:05:36,679 Speaker 1: I was really impressed with the apartments responding to comments 118 00:05:36,680 --> 00:05:39,159 Speaker 1: and engaging with the different tenants that live there or 119 00:05:39,240 --> 00:05:41,520 Speaker 1: had lived there or whatever that just had a beef 120 00:05:41,640 --> 00:05:43,680 Speaker 1: or we're really happy. I think it's really cool to 121 00:05:43,680 --> 00:05:46,120 Speaker 1: see a dialogue like that between two parties while at 122 00:05:46,120 --> 00:05:48,120 Speaker 1: the same time the apartment is trying to improve. Yeah, 123 00:05:48,120 --> 00:05:50,679 Speaker 1: and I guess that's one major benefit of the Internet 124 00:05:50,760 --> 00:05:52,840 Speaker 1: where you can kind of post a review. If you're 125 00:05:52,839 --> 00:05:55,719 Speaker 1: having an issue with an apartment complex, you have some 126 00:05:55,800 --> 00:05:58,880 Speaker 1: recourse if they're treating you unfairly and so yeah, documenting 127 00:05:58,920 --> 00:06:00,920 Speaker 1: that at a website like a heartment ratings dot Com 128 00:06:01,040 --> 00:06:03,640 Speaker 1: is a helpful way to go. And like you said, Matt, 129 00:06:03,680 --> 00:06:06,200 Speaker 1: there can be issues with landlords big and small. A 130 00:06:06,240 --> 00:06:09,440 Speaker 1: mom and pop landlord can be completely unattentive to your needs. 131 00:06:09,800 --> 00:06:12,200 Speaker 1: You can find them not replying in a timely manner, 132 00:06:12,279 --> 00:06:15,000 Speaker 1: not getting back to you, and not providing service and 133 00:06:15,040 --> 00:06:17,640 Speaker 1: repairs when things go wrong. The same thing can be 134 00:06:17,680 --> 00:06:20,119 Speaker 1: true of bigger landlords. And I did want to mention 135 00:06:20,120 --> 00:06:24,080 Speaker 1: that people should particularly watch out for Wall Street companies 136 00:06:24,120 --> 00:06:26,920 Speaker 1: that are renting out single family homes these days. If 137 00:06:26,920 --> 00:06:31,000 Speaker 1: you see the name Blackstone or Invitation Homes on properties 138 00:06:31,000 --> 00:06:33,560 Speaker 1: that you're looking at single family homes where you're looking 139 00:06:33,560 --> 00:06:36,160 Speaker 1: to rent, there are major issues with some of those 140 00:06:36,200 --> 00:06:40,200 Speaker 1: Wall Street companies jacking up fees, not fixing problems that 141 00:06:40,279 --> 00:06:43,960 Speaker 1: exist with the home, and finding ways to force fees 142 00:06:44,200 --> 00:06:47,080 Speaker 1: on tenants in ways that aren't forthcoming. In above Board, 143 00:06:47,400 --> 00:06:49,680 Speaker 1: and there was a really long form piece in the 144 00:06:49,680 --> 00:06:52,000 Speaker 1: Atlantic that we will link to in the show notes 145 00:06:52,040 --> 00:06:55,240 Speaker 1: as well, that just documents their inability to landlord well. 146 00:06:55,440 --> 00:06:56,760 Speaker 1: And so I just wanted to put that out there 147 00:06:56,760 --> 00:06:59,880 Speaker 1: real quick as a disclaimer that if you're looking for 148 00:07:00,040 --> 00:07:02,840 Speaker 1: single family homes from some of those bigger companies that 149 00:07:02,920 --> 00:07:06,600 Speaker 1: own a bunch thousands and thousands of single family homes 150 00:07:06,640 --> 00:07:09,760 Speaker 1: across this country, you do need to watch out. Yeah, Joe, 151 00:07:09,760 --> 00:07:12,400 Speaker 1: that article crazy compelling. Right. There's a stat in that 152 00:07:12,520 --> 00:07:19,680 Speaker 1: article that said how of homes were purchased by invitation 153 00:07:19,760 --> 00:07:22,520 Speaker 1: homes by Black Rock UH in a specific zip code 154 00:07:22,520 --> 00:07:25,520 Speaker 1: here in Atlanta. That is a huge amount of homes 155 00:07:25,560 --> 00:07:27,640 Speaker 1: in our area. Nine out of ten. That's incredible. Yeah, 156 00:07:27,640 --> 00:07:29,800 Speaker 1: that's it's it's massive. And like you mentioned earlier, some 157 00:07:29,840 --> 00:07:31,040 Speaker 1: of the things that they had going on, like they 158 00:07:31,080 --> 00:07:33,480 Speaker 1: started setting up call centers for repairs on the houses 159 00:07:33,800 --> 00:07:36,400 Speaker 1: they're sitting about, electronic locks for contractors to kind of 160 00:07:36,440 --> 00:07:38,440 Speaker 1: come and go whenever they needed to so that they 161 00:07:38,440 --> 00:07:40,880 Speaker 1: didn't have to contact the tenants, and oftentimes they didn't 162 00:07:40,920 --> 00:07:43,800 Speaker 1: have enough contractors on staff in order to even come 163 00:07:43,800 --> 00:07:47,000 Speaker 1: out in cases of even major repairs that were necessary. 164 00:07:47,160 --> 00:07:49,440 Speaker 1: Busted pipes where there's a four inches of water in homes. 165 00:07:49,440 --> 00:07:51,680 Speaker 1: It was Yeah, it was crazy to read through those 166 00:07:51,720 --> 00:07:53,800 Speaker 1: things and to think that, man, there's people that are 167 00:07:53,800 --> 00:07:56,120 Speaker 1: living in homes where that's the kind of service that 168 00:07:56,120 --> 00:07:58,520 Speaker 1: they're getting. Definitely not the best conditions that you're looking 169 00:07:58,560 --> 00:08:00,960 Speaker 1: for when you're a wrinter, no doubt. But there are 170 00:08:01,040 --> 00:08:03,320 Speaker 1: so many things you need to be aware of to 171 00:08:03,400 --> 00:08:07,040 Speaker 1: be an informed tenant, and in particular, that lease is 172 00:08:07,040 --> 00:08:09,440 Speaker 1: such a crucial part. We're going to get into what 173 00:08:09,520 --> 00:08:11,560 Speaker 1: you need to know before you sign on the dotted 174 00:08:11,600 --> 00:08:23,200 Speaker 1: line on that lease right after the break, all right, Joel, 175 00:08:23,200 --> 00:08:25,680 Speaker 1: Before the break, you mentioned leases, and you know, it 176 00:08:25,800 --> 00:08:29,120 Speaker 1: is very important that you familiarize yourself with your tenant 177 00:08:29,640 --> 00:08:33,000 Speaker 1: landlord handbook, if there is one in your states. This 178 00:08:33,040 --> 00:08:35,400 Speaker 1: is important because the laws are different in every state, 179 00:08:35,440 --> 00:08:38,320 Speaker 1: and so you know, some are much more landlord friendly, 180 00:08:38,360 --> 00:08:40,640 Speaker 1: while others they tend to look out for the renters 181 00:08:40,679 --> 00:08:43,600 Speaker 1: a bit more. Yeah, each state takes a different stance 182 00:08:44,000 --> 00:08:47,680 Speaker 1: in Some states are known for being more landlord friendly 183 00:08:47,800 --> 00:08:50,079 Speaker 1: and other states are known for having laws that are 184 00:08:50,120 --> 00:08:53,360 Speaker 1: more favorable to tenants. Yeah. Rent Cafe has a pretty 185 00:08:53,360 --> 00:08:55,120 Speaker 1: cool rite up and we'll link to that in our 186 00:08:55,160 --> 00:08:58,319 Speaker 1: show notes, where they have some visuals comparing friendly states 187 00:08:58,360 --> 00:09:00,559 Speaker 1: to non friendly states when it comes to how they 188 00:09:00,559 --> 00:09:04,120 Speaker 1: treat tenants. But also check out Landlord Oology will also 189 00:09:04,160 --> 00:09:05,720 Speaker 1: link to that side as well. They have a little 190 00:09:05,720 --> 00:09:07,880 Speaker 1: map of the entire United States and you can click 191 00:09:07,920 --> 00:09:10,280 Speaker 1: on your state and will link you out to the 192 00:09:10,360 --> 00:09:13,760 Speaker 1: governing laws when it comes to that landlord tenant relationship. Yes, 193 00:09:13,880 --> 00:09:17,199 Speaker 1: some states in particular have a specific landlord tenant handbook 194 00:09:17,200 --> 00:09:18,920 Speaker 1: and not not everyone does, so will link to those 195 00:09:18,920 --> 00:09:20,880 Speaker 1: other resources that kind of break things down for you 196 00:09:20,960 --> 00:09:23,920 Speaker 1: in an easy and simple to understand way. It's just 197 00:09:24,000 --> 00:09:26,240 Speaker 1: so helpful to know what your rights are in that 198 00:09:26,280 --> 00:09:28,920 Speaker 1: state before you actually sign a lease. Another thing you 199 00:09:28,960 --> 00:09:31,120 Speaker 1: need to do before you sign a lease is to 200 00:09:31,360 --> 00:09:34,480 Speaker 1: read it thoroughly, take your time. It's helpful in particular 201 00:09:34,520 --> 00:09:37,160 Speaker 1: if you have come to terms with a landlord to 202 00:09:37,200 --> 00:09:39,840 Speaker 1: ask them to send you the lease before signing day 203 00:09:39,880 --> 00:09:41,840 Speaker 1: so you have a little bit of extra time to 204 00:09:41,920 --> 00:09:44,240 Speaker 1: review it when you're not sitting in front of them. 205 00:09:44,440 --> 00:09:46,800 Speaker 1: And if there's something you don't understand, look it up 206 00:09:46,960 --> 00:09:48,840 Speaker 1: and make sure in your lease that your landlord has 207 00:09:48,840 --> 00:09:52,760 Speaker 1: outlined who is responsible for what we're talking about, things 208 00:09:52,840 --> 00:09:55,679 Speaker 1: like utilities obviously that's kind of a major one, but 209 00:09:56,160 --> 00:09:58,880 Speaker 1: other things as well, like pest control or small repairs, 210 00:09:59,160 --> 00:10:02,439 Speaker 1: lawn maintenance, even snow removal if you're in some northern states. 211 00:10:02,480 --> 00:10:04,680 Speaker 1: These are things that you don't really think of in 212 00:10:04,720 --> 00:10:07,400 Speaker 1: the moment, but you know what, when the time comes 213 00:10:07,400 --> 00:10:08,880 Speaker 1: and you've got a clock toilet, that's the kind of 214 00:10:08,880 --> 00:10:10,439 Speaker 1: thing you want to know. Okay, is it in my 215 00:10:10,520 --> 00:10:12,440 Speaker 1: lease that I'm supposed to take care of this? Or 216 00:10:12,559 --> 00:10:14,559 Speaker 1: can I call my landlord? You know, as a tenant, 217 00:10:14,640 --> 00:10:16,640 Speaker 1: if you were to like have somebody come out and 218 00:10:16,640 --> 00:10:18,959 Speaker 1: perform some of these these tasks and fix some of 219 00:10:18,960 --> 00:10:21,160 Speaker 1: these things that go wrong. These are hundreds and hundreds 220 00:10:21,160 --> 00:10:23,680 Speaker 1: of dollars over the full term of your lease. Yeah, 221 00:10:23,720 --> 00:10:25,560 Speaker 1: you're also going to want to make sure that whatever 222 00:10:25,679 --> 00:10:28,920 Speaker 1: you have seen on the listing site, whether it's apartment 223 00:10:29,080 --> 00:10:32,599 Speaker 1: ratings dot Com or whether it is zillo or Craigslist, 224 00:10:32,640 --> 00:10:36,520 Speaker 1: wherever you're looking for properties, those terms that are explicitly 225 00:10:36,559 --> 00:10:39,400 Speaker 1: listed out there have no bearing on what you sign 226 00:10:39,440 --> 00:10:42,600 Speaker 1: in the lease. It would obviously be incredibly shady of 227 00:10:42,600 --> 00:10:46,000 Speaker 1: a landlord to list a property for a different price 228 00:10:46,080 --> 00:10:48,880 Speaker 1: or security deposit than they actually write in the lease, 229 00:10:49,160 --> 00:10:51,680 Speaker 1: But just make sure that whatever you agree to verbally 230 00:10:51,760 --> 00:10:54,600 Speaker 1: or whatever you see online matches what you see in 231 00:10:54,640 --> 00:10:57,520 Speaker 1: writing in the lease. Yeah. And again going back to 232 00:10:57,640 --> 00:11:00,480 Speaker 1: having your landlord or your potential landlord to send you 233 00:11:00,600 --> 00:11:03,240 Speaker 1: the lease ahead of time. That gives you time to 234 00:11:03,320 --> 00:11:05,679 Speaker 1: look over it, to take your time. Uh, so you 235 00:11:05,840 --> 00:11:08,760 Speaker 1: don't feel pressure to quickly sign an initial and you know, 236 00:11:08,800 --> 00:11:11,160 Speaker 1: if you're meeting in public or at a notary's office, 237 00:11:11,200 --> 00:11:13,240 Speaker 1: if you have to get a notarized, there's just that 238 00:11:13,320 --> 00:11:15,600 Speaker 1: pressure when someone is kind of standing there waiting on you. 239 00:11:15,920 --> 00:11:17,800 Speaker 1: You tend to kind of burn through those pages pretty 240 00:11:17,840 --> 00:11:20,439 Speaker 1: quickly and you might be signing things that you may 241 00:11:20,480 --> 00:11:22,880 Speaker 1: not necessarily want to sign. So make sure those terms 242 00:11:22,880 --> 00:11:24,400 Speaker 1: are in there and make sure that you've seen that 243 00:11:24,440 --> 00:11:26,960 Speaker 1: they're in there. Yeah. So, while we're on the subject 244 00:11:27,000 --> 00:11:29,880 Speaker 1: of leases, it's also really important for anybody who's a 245 00:11:29,920 --> 00:11:32,920 Speaker 1: renter to know that leases are negotiable. Do you want 246 00:11:32,920 --> 00:11:35,240 Speaker 1: to stay longer at your property, well, you might get 247 00:11:35,240 --> 00:11:37,240 Speaker 1: a rent discount. It's worth asking if you're planning on 248 00:11:37,280 --> 00:11:39,640 Speaker 1: staying in a place for longer than a year, which 249 00:11:39,679 --> 00:11:42,080 Speaker 1: is pretty much the standard lease that most people agree to. 250 00:11:42,400 --> 00:11:45,320 Speaker 1: That asking for a discount on rent isn't unheard of, 251 00:11:45,400 --> 00:11:47,680 Speaker 1: and a lot of landlords are willing to oblige and 252 00:11:48,040 --> 00:11:50,960 Speaker 1: mend the lease accordingly. Also, do you have multiple pets. 253 00:11:51,240 --> 00:11:54,120 Speaker 1: Almost always there's a pet deposit, whether it's refundable or 254 00:11:54,160 --> 00:11:57,400 Speaker 1: not included in a lease. It's worth asking for a 255 00:11:57,440 --> 00:12:01,520 Speaker 1: discount on that pet deposit if you have have multiple pets. Yeah, Jill, 256 00:12:01,600 --> 00:12:03,240 Speaker 1: just like with you and your flowers, it never hurts 257 00:12:03,240 --> 00:12:05,080 Speaker 1: to ask. And there's a really good change, you might 258 00:12:05,080 --> 00:12:06,840 Speaker 1: be able to strike a really good deal. And I 259 00:12:06,840 --> 00:12:09,440 Speaker 1: would also encourage you as a renter to be creative 260 00:12:09,480 --> 00:12:11,600 Speaker 1: when it comes to negotiating the terms on your lease. 261 00:12:11,640 --> 00:12:13,760 Speaker 1: For instance, if you know there's a good chance that 262 00:12:13,800 --> 00:12:15,599 Speaker 1: you might want to stay there longer, see if you 263 00:12:15,600 --> 00:12:18,000 Speaker 1: can work in something along the lines of, Hey, if 264 00:12:18,040 --> 00:12:21,160 Speaker 1: I always pay my rent on time or early, I 265 00:12:21,160 --> 00:12:23,320 Speaker 1: would love to be able to renew a second year 266 00:12:23,520 --> 00:12:26,400 Speaker 1: without the rent increasing, because right now that might seem 267 00:12:26,440 --> 00:12:28,600 Speaker 1: like maybe a small win, right but you know a 268 00:12:28,679 --> 00:12:31,040 Speaker 1: year from now, when rents in the area have gone up, 269 00:12:31,040 --> 00:12:32,880 Speaker 1: say ten percent, Well, you want to be in a 270 00:12:32,920 --> 00:12:35,480 Speaker 1: position where you can sort of exercise that right to 271 00:12:35,640 --> 00:12:38,240 Speaker 1: resign at your current rate for a whole another year. 272 00:12:38,559 --> 00:12:41,160 Speaker 1: Hopefully you've been a great tenant up until that point, 273 00:12:41,240 --> 00:12:43,959 Speaker 1: and your landlord might be happy to see you resign 274 00:12:44,320 --> 00:12:46,200 Speaker 1: and to have another solid year ahead of them where 275 00:12:46,200 --> 00:12:48,040 Speaker 1: they know that rents gonna be paid on time. Yeah. 276 00:12:48,080 --> 00:12:50,040 Speaker 1: One caveat we need to mention when it comes to 277 00:12:50,320 --> 00:12:53,720 Speaker 1: least negotiation is that it's going to be more difficult 278 00:12:53,840 --> 00:12:57,120 Speaker 1: to negotiate with a bigger landlord. Let's say you are 279 00:12:57,240 --> 00:12:59,240 Speaker 1: in a house that is owned by one of those 280 00:12:59,240 --> 00:13:01,880 Speaker 1: Wall Street companies that we talked about earlier, or a 281 00:13:01,960 --> 00:13:04,760 Speaker 1: major apartment complex. Chances are the terms are just way 282 00:13:04,760 --> 00:13:07,480 Speaker 1: more rigid. With a company like that, they have a 283 00:13:07,480 --> 00:13:10,160 Speaker 1: lot of bureaucracy in place, and they're just not willing 284 00:13:10,240 --> 00:13:12,680 Speaker 1: to amend the terms of a lease in kind of 285 00:13:12,679 --> 00:13:15,079 Speaker 1: a one to one negotiation. So this is an all 286 00:13:15,120 --> 00:13:17,160 Speaker 1: likelihood a tactic that you're going to be able to 287 00:13:17,200 --> 00:13:21,160 Speaker 1: apply to dealings with a mom and pop landlord in 288 00:13:21,200 --> 00:13:23,560 Speaker 1: a lot more instances than you are with one of 289 00:13:23,559 --> 00:13:26,640 Speaker 1: those bigger, major landlords. Oh it makes me think, Joel, 290 00:13:27,040 --> 00:13:30,120 Speaker 1: have you ever lived in any of the post properties posted? 291 00:13:30,200 --> 00:13:32,080 Speaker 1: It's a it's a big company in Atlanta. They owned 292 00:13:32,080 --> 00:13:35,040 Speaker 1: tons of different apartments all across the city. Nope, never did. Man, 293 00:13:35,080 --> 00:13:37,840 Speaker 1: I was always like slumming it and cheaper of our complexes. 294 00:13:37,880 --> 00:13:40,120 Speaker 1: I think, yeah, your last coiment made me think about 295 00:13:40,160 --> 00:13:42,600 Speaker 1: when Kate and I were looking at a post property 296 00:13:42,679 --> 00:13:44,720 Speaker 1: that we really liked and we're really interested in getting, 297 00:13:44,800 --> 00:13:47,280 Speaker 1: but they actually had laid out that rents were going 298 00:13:47,280 --> 00:13:49,200 Speaker 1: to be increasing, and they told us how much that 299 00:13:49,200 --> 00:13:52,160 Speaker 1: they're going to be increasing. It was not negotiable, And 300 00:13:52,240 --> 00:13:53,760 Speaker 1: that was honestly one of the biggest reasons that we 301 00:13:53,880 --> 00:13:55,719 Speaker 1: backed out of running that apartment, because we knew that 302 00:13:55,760 --> 00:13:57,600 Speaker 1: we wanted to stay there for at least two years, 303 00:13:57,920 --> 00:13:59,480 Speaker 1: and we didn't want to see our rants increase my 304 00:13:59,520 --> 00:14:02,280 Speaker 1: hundred fifth bucks, so so we had to pass. Yeah. 305 00:14:02,280 --> 00:14:05,360 Speaker 1: And at the same time, if rent prices do increase 306 00:14:05,520 --> 00:14:07,439 Speaker 1: more than you're willing to handle, you get the factor 307 00:14:07,520 --> 00:14:09,880 Speaker 1: of those moving costs, which can be a pain in 308 00:14:09,920 --> 00:14:11,920 Speaker 1: the butt for a renter. You want to factor that 309 00:14:12,000 --> 00:14:13,640 Speaker 1: in in the back of your mind when you're signing 310 00:14:13,640 --> 00:14:15,480 Speaker 1: a lease. Do I want to stay here for a 311 00:14:15,520 --> 00:14:17,959 Speaker 1: longer period of time than one year? And if I do, 312 00:14:18,440 --> 00:14:20,640 Speaker 1: can I get that in writing now so that I 313 00:14:20,640 --> 00:14:22,720 Speaker 1: don't feel like when rents do go up that I 314 00:14:22,760 --> 00:14:25,080 Speaker 1: have to leave and go through the hassle of moving again. 315 00:14:25,400 --> 00:14:27,720 Speaker 1: Keep in mind as a renter that the landlord will 316 00:14:27,920 --> 00:14:31,360 Speaker 1: and should at least run a background and credit check 317 00:14:31,400 --> 00:14:33,520 Speaker 1: on you, and so they will check your employment and 318 00:14:33,520 --> 00:14:36,160 Speaker 1: they'll check those references. Make sure that you're being upfront 319 00:14:36,200 --> 00:14:40,240 Speaker 1: and honest with your landlord. Realizing that communicating with your 320 00:14:40,240 --> 00:14:43,080 Speaker 1: potential landlord and being honest like that that it builds 321 00:14:43,120 --> 00:14:45,720 Speaker 1: trust and know that that's the kind of relationship that 322 00:14:45,840 --> 00:14:47,600 Speaker 1: you do want to have with your landlord. As a renter. 323 00:14:48,000 --> 00:14:50,520 Speaker 1: Anytime you apply to living and property, you are going 324 00:14:50,560 --> 00:14:53,760 Speaker 1: to pay an application fee and that goes towards this 325 00:14:53,800 --> 00:14:56,360 Speaker 1: background and credit check. And so if you're not upfront 326 00:14:56,400 --> 00:14:59,000 Speaker 1: with your landlord, you might find yourself paying more fees 327 00:14:59,080 --> 00:15:01,840 Speaker 1: across town to landlords then you want to and getting 328 00:15:01,840 --> 00:15:05,640 Speaker 1: rejected for properties. So being upfront can help you avoid 329 00:15:05,720 --> 00:15:08,840 Speaker 1: the extra costs of applying for properties that you aren't 330 00:15:08,840 --> 00:15:10,680 Speaker 1: going to get. And I do agree, man, I think 331 00:15:10,720 --> 00:15:12,840 Speaker 1: being up front. You know, I've worked with different tenants 332 00:15:12,920 --> 00:15:15,400 Speaker 1: at different times and been more than happy if they're 333 00:15:15,400 --> 00:15:18,360 Speaker 1: completely honest to figure out terms that work for both 334 00:15:18,360 --> 00:15:21,160 Speaker 1: of us. In the case of credit that is less 335 00:15:21,160 --> 00:15:23,680 Speaker 1: in stellar or or whatever it may be. And I 336 00:15:23,680 --> 00:15:26,480 Speaker 1: think as long as you are above board and open 337 00:15:26,520 --> 00:15:29,520 Speaker 1: and honest with your potential landlord, I think that bodes 338 00:15:29,560 --> 00:15:32,120 Speaker 1: well and it helps the landlord know what they're getting 339 00:15:32,120 --> 00:15:34,840 Speaker 1: into before they perform the background and credit check. It 340 00:15:34,840 --> 00:15:37,120 Speaker 1: makes them realize that you're a person then can be trusted. Okay, 341 00:15:37,200 --> 00:15:38,920 Speaker 1: let's go ahead and say now that you've gotten past 342 00:15:38,960 --> 00:15:41,480 Speaker 1: that background check, you've gotten past that credit check, you 343 00:15:41,480 --> 00:15:43,520 Speaker 1: are now at the point we're gonna go through that 344 00:15:43,600 --> 00:15:46,520 Speaker 1: walk through, and that is crucial because that is your 345 00:15:46,560 --> 00:15:49,920 Speaker 1: chance to document the states the current state of the property. 346 00:15:50,200 --> 00:15:51,440 Speaker 1: You want to make sure that you take your own 347 00:15:51,440 --> 00:15:54,040 Speaker 1: pictures before you move in and if you see anything 348 00:15:54,120 --> 00:15:56,320 Speaker 1: that seems that needs to be repaired, and at that 349 00:15:56,360 --> 00:15:58,440 Speaker 1: point you can go ahead and email the landlord with 350 00:15:58,480 --> 00:16:00,680 Speaker 1: any issues that you notice that need fick s. Yeah, 351 00:16:00,800 --> 00:16:03,640 Speaker 1: taking those pictures on your moving date is actually a 352 00:16:03,680 --> 00:16:07,040 Speaker 1: way of protecting yourself from the landlord coming back and 353 00:16:07,080 --> 00:16:10,360 Speaker 1: saying that the property wasn't left in good condition upon 354 00:16:10,440 --> 00:16:13,640 Speaker 1: your moving out. You want documentation of what the property 355 00:16:13,640 --> 00:16:16,120 Speaker 1: looked like when you took possession of it. That's the 356 00:16:16,200 --> 00:16:18,640 Speaker 1: best way you can protect yourself in a situation like that, 357 00:16:19,000 --> 00:16:21,840 Speaker 1: you're also going to want to take thorough pictures upon 358 00:16:22,000 --> 00:16:25,160 Speaker 1: moving out to document that you left the property in 359 00:16:25,200 --> 00:16:28,040 Speaker 1: good condition. So if those pictures a year apart time 360 00:16:28,080 --> 00:16:31,000 Speaker 1: stamped on your phone look similar, then the landlord has 361 00:16:31,040 --> 00:16:34,320 Speaker 1: a lot less grounds to hold some of your security 362 00:16:34,320 --> 00:16:37,880 Speaker 1: deposit for repairs. And there's pictures they protect yourself now. 363 00:16:38,080 --> 00:16:39,840 Speaker 1: But then after the break, we're gonna talk about when 364 00:16:39,840 --> 00:16:41,520 Speaker 1: things go wrong with the place that you're living in 365 00:16:41,560 --> 00:16:52,160 Speaker 1: and then what you can do about it. All right, Matt, 366 00:16:52,200 --> 00:16:54,120 Speaker 1: stuff happens when you're running a place. It could be 367 00:16:54,160 --> 00:16:56,920 Speaker 1: busted pipes, it could be bedbugs. There are a whole 368 00:16:56,960 --> 00:17:00,400 Speaker 1: host of situations that can negatively affect your experts as 369 00:17:00,400 --> 00:17:02,400 Speaker 1: a renter, And so we have to talk about how 370 00:17:02,440 --> 00:17:05,159 Speaker 1: renters can protect themselves when they're in the middle of 371 00:17:05,160 --> 00:17:07,720 Speaker 1: a lease and things go wrong. And so the first 372 00:17:07,760 --> 00:17:10,600 Speaker 1: and easiest and cheapest thing that you can do to 373 00:17:10,680 --> 00:17:14,240 Speaker 1: protect yourself is to get renters insurance. Oftentimes your lease 374 00:17:14,280 --> 00:17:17,439 Speaker 1: actually requires that anyway. But you know what, only thirty 375 00:17:17,560 --> 00:17:21,120 Speaker 1: seven percent of people have renters insurance, and the typical 376 00:17:21,200 --> 00:17:24,879 Speaker 1: cost of renters insurance is about ten dollars a month. 377 00:17:25,240 --> 00:17:27,200 Speaker 1: That's like less than the cost of Netflix. Matt yeah, 378 00:17:27,200 --> 00:17:28,880 Speaker 1: and the like twelve dollars. Now I think I don't 379 00:17:28,880 --> 00:17:32,199 Speaker 1: even it's not up. Yeah. So most renters think that 380 00:17:32,200 --> 00:17:35,800 Speaker 1: their landlords insurance covers their possessions in case of an accident, 381 00:17:36,040 --> 00:17:38,480 Speaker 1: but it doesn't, So you have to get renters insurance. 382 00:17:38,760 --> 00:17:42,280 Speaker 1: There are easy ways to buy renters insurance online. Policy 383 00:17:42,359 --> 00:17:45,320 Speaker 1: Genius is a great website to check out that will 384 00:17:45,359 --> 00:17:49,520 Speaker 1: offer you quotes from multiple different providers. Just don't forget 385 00:17:49,560 --> 00:17:52,400 Speaker 1: to get renters insurance please. As a tenant, that's step 386 00:17:52,480 --> 00:17:54,480 Speaker 1: number one for sure. And you know, one of the 387 00:17:54,480 --> 00:17:56,840 Speaker 1: great things about renters insurance as well is that a 388 00:17:56,920 --> 00:18:00,160 Speaker 1: lot of times it will cover off premises theft as well. 389 00:18:00,160 --> 00:18:02,359 Speaker 1: So I'm thinking about bikes, like that's something that I 390 00:18:02,480 --> 00:18:05,600 Speaker 1: have that I leave in other places where it might 391 00:18:05,640 --> 00:18:08,000 Speaker 1: be in danger of getting stolen. Well, if you have 392 00:18:08,040 --> 00:18:10,600 Speaker 1: a bicycle, if you have wrinters insurance, that's something that 393 00:18:10,680 --> 00:18:12,800 Speaker 1: for the most part, will be covered if it gets stolen, 394 00:18:13,160 --> 00:18:15,080 Speaker 1: say if you're at the restaurant down the street, or 395 00:18:15,119 --> 00:18:17,119 Speaker 1: if you're at the library or something like that. So 396 00:18:17,520 --> 00:18:19,960 Speaker 1: it really is affordable and there's just a lot of 397 00:18:20,000 --> 00:18:22,880 Speaker 1: peace of mind that comes with taking the proper precautions 398 00:18:22,920 --> 00:18:25,120 Speaker 1: when you're a renter, all right, So what happens if 399 00:18:25,160 --> 00:18:28,040 Speaker 1: there is an issue with the property, whether it's just 400 00:18:28,119 --> 00:18:31,639 Speaker 1: the lawn that's become unkempt, there's an issue with a 401 00:18:31,680 --> 00:18:35,119 Speaker 1: major appliance, the facts not working and it's getting pretty 402 00:18:35,119 --> 00:18:37,600 Speaker 1: hot outside, well, no matter what the issue is, it's 403 00:18:37,720 --> 00:18:41,080 Speaker 1: best to document everything in writing. An email in particular, 404 00:18:41,200 --> 00:18:43,840 Speaker 1: is probably in all likelihood the best way of getting 405 00:18:43,920 --> 00:18:47,280 Speaker 1: problems addressed. As a tenant. If you're calling your landlord 406 00:18:47,320 --> 00:18:50,520 Speaker 1: on the phone in order to make problems known, you're 407 00:18:50,520 --> 00:18:53,520 Speaker 1: putting yourself in a much more difficult situation by not 408 00:18:53,680 --> 00:18:56,520 Speaker 1: having it in writing that you're requesting certain things off 409 00:18:56,560 --> 00:18:59,800 Speaker 1: your landlord. So if your landlord prefers to be contacted 410 00:18:59,840 --> 00:19:02,080 Speaker 1: be phone, make sure to talk to them ahead of 411 00:19:02,080 --> 00:19:04,000 Speaker 1: time and let them know how important it is to 412 00:19:04,080 --> 00:19:07,000 Speaker 1: you that these things be addressed via email. Or you 413 00:19:07,080 --> 00:19:09,719 Speaker 1: might think that text messaging is just as fine as well, 414 00:19:09,760 --> 00:19:11,560 Speaker 1: because obviously it's got the date and time on there, 415 00:19:11,800 --> 00:19:13,480 Speaker 1: but that's not the case if you've got to set 416 00:19:13,520 --> 00:19:15,560 Speaker 1: up to where your text delete after thirty days because 417 00:19:15,560 --> 00:19:17,520 Speaker 1: you're trying to save on storage space on your phone, 418 00:19:17,560 --> 00:19:20,159 Speaker 1: so again email it's always best and if you have 419 00:19:20,200 --> 00:19:22,399 Speaker 1: a landlord who's slow to respond when it comes to 420 00:19:22,880 --> 00:19:27,080 Speaker 1: maintenance issues, but especially in emergency situations, you might be 421 00:19:27,119 --> 00:19:30,040 Speaker 1: able to pay to have the repairs made yourself and 422 00:19:30,080 --> 00:19:33,720 Speaker 1: then deduct that from the rent that you owe. Again, 423 00:19:33,760 --> 00:19:36,520 Speaker 1: you want to make sure to check your local state 424 00:19:36,600 --> 00:19:39,200 Speaker 1: laws or if you are lucky enough to have a 425 00:19:39,280 --> 00:19:42,600 Speaker 1: landlord tenant handbook, all those things will be defined in 426 00:19:42,680 --> 00:19:45,720 Speaker 1: there and will outline the different emergencies and help you 427 00:19:45,760 --> 00:19:48,320 Speaker 1: to see when you can move forward with that pay 428 00:19:48,400 --> 00:19:51,600 Speaker 1: and deduct route. Again, just make sure that you're documenting 429 00:19:51,600 --> 00:19:54,040 Speaker 1: this well and again call around to a few different 430 00:19:54,040 --> 00:19:56,200 Speaker 1: providers as well, because if you if you can show 431 00:19:56,240 --> 00:19:58,760 Speaker 1: that you've gotten several different quotes and you decided to 432 00:19:58,760 --> 00:20:00,720 Speaker 1: go with one that was comp bolt to the rest, 433 00:20:01,080 --> 00:20:03,400 Speaker 1: that's another check mark in your box when it comes 434 00:20:03,400 --> 00:20:05,840 Speaker 1: down to the case of getting your landlord to pay 435 00:20:05,880 --> 00:20:07,800 Speaker 1: for some of those repairs or if you're going to 436 00:20:07,880 --> 00:20:10,760 Speaker 1: deduct that from the rent. Yeah, repair and deduct is 437 00:20:10,840 --> 00:20:13,640 Speaker 1: a strategy that you use in a worst case scenario. 438 00:20:14,240 --> 00:20:17,560 Speaker 1: You want to exhaust every option available to you before 439 00:20:17,600 --> 00:20:20,320 Speaker 1: you get to that point. So hopefully your landlord is 440 00:20:20,359 --> 00:20:23,000 Speaker 1: being communicative. It's also important to remember that in the 441 00:20:23,040 --> 00:20:26,400 Speaker 1: case of repair and deduct that only applies to emergencies, 442 00:20:26,600 --> 00:20:29,120 Speaker 1: and you can even see oftentimes in your landlord tenant 443 00:20:29,119 --> 00:20:32,120 Speaker 1: handbook what is considered an emergency and what isn't. Yeah, 444 00:20:32,200 --> 00:20:35,320 Speaker 1: mat for example, Interestingly enough, a lot of states don't 445 00:20:35,359 --> 00:20:38,119 Speaker 1: consider an air conditioner being out in the middle of 446 00:20:38,200 --> 00:20:41,280 Speaker 1: summer to be an emergency. And you might consider that 447 00:20:41,320 --> 00:20:45,120 Speaker 1: an emergency, but your state just doesn't. And so that 448 00:20:45,160 --> 00:20:47,520 Speaker 1: means that if you try this repair and deduct method 449 00:20:48,040 --> 00:20:50,000 Speaker 1: just a couple of days, let's say after that air 450 00:20:50,040 --> 00:20:52,800 Speaker 1: conditioner breaks, I mean, hopefully you're working with a landlord 451 00:20:52,920 --> 00:20:55,679 Speaker 1: that is helpful, responsive and trying to work on that 452 00:20:55,760 --> 00:20:58,679 Speaker 1: issue quickly. But if they take too long, that doesn't 453 00:20:58,720 --> 00:21:01,520 Speaker 1: necessarily mean that you have the right to do repair 454 00:21:01,520 --> 00:21:03,600 Speaker 1: and deduct, and you might come out on the losing 455 00:21:03,640 --> 00:21:06,159 Speaker 1: side of that when you try to fix the problem 456 00:21:06,280 --> 00:21:08,880 Speaker 1: yourself and take that money out of the rent. Yeah, 457 00:21:08,960 --> 00:21:10,720 Speaker 1: that would really suck to basically get stuck with a 458 00:21:10,760 --> 00:21:13,600 Speaker 1: bill where you're improving the property of your landlord who 459 00:21:13,640 --> 00:21:15,800 Speaker 1: you feel like wasn't responsive, and then you have to 460 00:21:15,800 --> 00:21:18,600 Speaker 1: move out a few months later. I would be pretty pissed. Yeah, right, 461 00:21:18,640 --> 00:21:20,359 Speaker 1: that sucks. So you want to make sure that you 462 00:21:20,400 --> 00:21:22,960 Speaker 1: know your rights and that you know whether you can 463 00:21:23,040 --> 00:21:26,440 Speaker 1: do repair and deduct or not. Also, exhaust every means 464 00:21:26,480 --> 00:21:29,400 Speaker 1: possible before you get to that point. Also, we got 465 00:21:29,680 --> 00:21:33,080 Speaker 1: an email recently from a listener Stephen, and he mentioned 466 00:21:33,119 --> 00:21:35,960 Speaker 1: that he found a bed bug in his apartment. Oh, 467 00:21:36,040 --> 00:21:38,600 Speaker 1: and there's never just one bedbug, right, there's more to follow, 468 00:21:39,240 --> 00:21:42,640 Speaker 1: and they replicate, They procreate very quickly, so there's gonna 469 00:21:42,640 --> 00:21:44,840 Speaker 1: be more coming. Have you ever seen a bedbug? But 470 00:21:44,840 --> 00:21:46,800 Speaker 1: they're super realized, right, they're hard to find. Yeah, I 471 00:21:46,840 --> 00:21:49,000 Speaker 1: think it kind of like just looks like like dirt, 472 00:21:49,160 --> 00:21:51,320 Speaker 1: like in the corners of your mattresses or couches and 473 00:21:51,320 --> 00:21:53,359 Speaker 1: stuff like that. In big cities like New York and 474 00:21:53,359 --> 00:21:55,119 Speaker 1: stuff like that, when you see couches on the side 475 00:21:55,119 --> 00:21:57,280 Speaker 1: of this the street or on the sidewalk, you stay 476 00:21:57,280 --> 00:21:59,360 Speaker 1: away from those things. Yeah, because they're infested with bed bugs. 477 00:21:59,359 --> 00:22:01,000 Speaker 1: You don't want to take those in the house. So 478 00:22:01,040 --> 00:22:03,120 Speaker 1: Stephen wrote in he was asking about, you know, how 479 00:22:03,160 --> 00:22:06,359 Speaker 1: he attacks the situation with his landlord, and in his case, 480 00:22:06,640 --> 00:22:09,160 Speaker 1: his landlord seemed to lack the proper motivation to take 481 00:22:09,200 --> 00:22:12,840 Speaker 1: care of it. And particularly because bed bugs, like we said, 482 00:22:12,880 --> 00:22:16,320 Speaker 1: replicated such a rapid pace. Figuring out the issue, nipping 483 00:22:16,320 --> 00:22:18,800 Speaker 1: it in the bud before it becomes a worse issue 484 00:22:19,200 --> 00:22:21,960 Speaker 1: is crucial when we're talking about bed bugs. And so 485 00:22:22,040 --> 00:22:27,040 Speaker 1: because of his landlord's failure to act and insistence on waiting, 486 00:22:27,320 --> 00:22:30,119 Speaker 1: Stephen decided to go the repair and deduct route. I 487 00:22:30,119 --> 00:22:31,760 Speaker 1: think in his case it was the right move and 488 00:22:31,760 --> 00:22:33,840 Speaker 1: I hope it works out for him. He also has 489 00:22:33,920 --> 00:22:36,919 Speaker 1: a litany of solid emails and evidence to back him 490 00:22:37,000 --> 00:22:40,120 Speaker 1: up in the case his landlord was wanted to fight 491 00:22:40,160 --> 00:22:41,800 Speaker 1: that in a in a court of law, and so 492 00:22:41,960 --> 00:22:44,400 Speaker 1: that's a great example. Again, though, make sure you check 493 00:22:44,440 --> 00:22:48,040 Speaker 1: with your state laws because some states can be very 494 00:22:48,119 --> 00:22:51,160 Speaker 1: landlord friendly to again where the tenant would be stuck 495 00:22:51,160 --> 00:22:53,720 Speaker 1: with that bell regardless of the situation. And if you 496 00:22:53,760 --> 00:22:56,400 Speaker 1: feel like your landlord is in some sort of violation 497 00:22:56,560 --> 00:22:59,560 Speaker 1: of the law and is negligent in addressing issues that 498 00:22:59,640 --> 00:23:02,120 Speaker 1: come up, your best route to go is to complain 499 00:23:02,160 --> 00:23:05,160 Speaker 1: to the correct local authorities. And if you think that 500 00:23:05,200 --> 00:23:09,639 Speaker 1: there are discrimination issues involved based on your race, gender, ethnicity, 501 00:23:09,720 --> 00:23:12,200 Speaker 1: or family status, it's really important to reach out to 502 00:23:12,240 --> 00:23:14,840 Speaker 1: the Department of housing and urban development. That's a place 503 00:23:14,840 --> 00:23:17,160 Speaker 1: where they feel those complaints and they take them very seriously. 504 00:23:17,400 --> 00:23:20,359 Speaker 1: In addition to these issues with maybe the landlord or 505 00:23:20,359 --> 00:23:22,880 Speaker 1: with the home. Right aside from those, if you personally 506 00:23:22,920 --> 00:23:25,879 Speaker 1: are having a tough time or you're having financial issues, 507 00:23:26,119 --> 00:23:28,840 Speaker 1: make sure that you are communicating that with your landlord. 508 00:23:29,400 --> 00:23:31,359 Speaker 1: They might be willing to work out a plan with you, 509 00:23:31,440 --> 00:23:33,440 Speaker 1: but chances of that happening are going to be much 510 00:23:33,520 --> 00:23:36,400 Speaker 1: higher if you address that ahead of time. Yeah, Matt, 511 00:23:36,440 --> 00:23:38,840 Speaker 1: Just like we talked about being upfront about your credit 512 00:23:38,840 --> 00:23:43,000 Speaker 1: score or your criminal history while you're applying for a property, 513 00:23:43,040 --> 00:23:46,040 Speaker 1: that landlord is much more likely to accept your application 514 00:23:46,160 --> 00:23:48,400 Speaker 1: and offer you a chance to live in the property. 515 00:23:48,720 --> 00:23:50,479 Speaker 1: In the same way, if you've been a tenant there 516 00:23:50,520 --> 00:23:52,840 Speaker 1: for a while and you're starting to have some money issues, 517 00:23:53,160 --> 00:23:55,159 Speaker 1: well it's best to be a front about that with 518 00:23:55,240 --> 00:23:57,679 Speaker 1: your landlord then kind of ghosting them and being m 519 00:23:57,720 --> 00:24:00,399 Speaker 1: I A when the first of the month rolls around. Okay, 520 00:24:00,880 --> 00:24:03,480 Speaker 1: now we're at the end of your lease and when 521 00:24:03,480 --> 00:24:05,880 Speaker 1: it comes to moving out, you want to make sure 522 00:24:05,920 --> 00:24:08,679 Speaker 1: that you have documented everything. We previously mentioned how you 523 00:24:08,680 --> 00:24:10,440 Speaker 1: want to make sure that you take thorough picks when 524 00:24:10,480 --> 00:24:13,120 Speaker 1: you move in the same thing. When you move out, 525 00:24:13,280 --> 00:24:14,919 Speaker 1: you want to make sure that you have plenty of 526 00:24:15,000 --> 00:24:18,800 Speaker 1: pictures documenting the state of your place. Once you leave, 527 00:24:19,040 --> 00:24:20,920 Speaker 1: a more shady landlord will try to get you to 528 00:24:20,920 --> 00:24:23,639 Speaker 1: pay for your things that aren't actually broken, or if 529 00:24:23,640 --> 00:24:25,840 Speaker 1: there is actual damage, you can show that you have 530 00:24:25,880 --> 00:24:28,679 Speaker 1: pictures from your walkthrough from before you moved in that 531 00:24:28,800 --> 00:24:31,560 Speaker 1: show it was already broken when you moved in. Pictures 532 00:24:31,640 --> 00:24:34,280 Speaker 1: or even a video walk through of the apartment or 533 00:24:34,320 --> 00:24:37,320 Speaker 1: the house are so clutched in these situations. And final 534 00:24:37,359 --> 00:24:39,680 Speaker 1: tip if you have a roommate, will try to move 535 00:24:39,720 --> 00:24:42,480 Speaker 1: out on the same day, because if you are the 536 00:24:42,560 --> 00:24:45,120 Speaker 1: last person to move out of the house, you might 537 00:24:45,119 --> 00:24:48,600 Speaker 1: be stuck with all the cleaning and potential junk removal. 538 00:24:48,840 --> 00:24:51,520 Speaker 1: Your roommate could leave you in the lurch, high and dry. 539 00:24:51,800 --> 00:24:54,080 Speaker 1: It could be a nasty little situation where you have 540 00:24:54,320 --> 00:24:57,000 Speaker 1: hours and hours of work ahead of you to make 541 00:24:57,000 --> 00:24:59,199 Speaker 1: sure that you're leaving that place like you found it 542 00:24:59,359 --> 00:25:01,719 Speaker 1: in order to you avoid money being taken out of 543 00:25:01,760 --> 00:25:04,479 Speaker 1: that security deposit. Nice Joe, I'm gonna take us back 544 00:25:04,520 --> 00:25:08,719 Speaker 1: to the beer we were drinking this episode. A Russell 545 00:25:08,800 --> 00:25:12,320 Speaker 1: Kelly pale ale by Tell You Ride ruined company, and man, 546 00:25:12,400 --> 00:25:14,600 Speaker 1: it was solid. I'm mostly jealous that you've been to 547 00:25:14,640 --> 00:25:17,159 Speaker 1: tell you Ride and I haven't. Is that how you 548 00:25:17,200 --> 00:25:19,760 Speaker 1: say it, tell You Ride? I think so, Yeah, tell 549 00:25:19,800 --> 00:25:22,800 Speaker 1: you Ride. I don't really remember how people said it 550 00:25:22,800 --> 00:25:24,760 Speaker 1: when I was there, but I say it differently out last. 551 00:25:24,880 --> 00:25:26,520 Speaker 1: I don't know. I just you know what I specifically 552 00:25:26,520 --> 00:25:28,600 Speaker 1: remember from being and tell your Ride. Well, first, it 553 00:25:28,640 --> 00:25:31,440 Speaker 1: was beautiful of the mountains, the snow, but I remember 554 00:25:31,560 --> 00:25:34,280 Speaker 1: the thrift store there because it was this nice, cute 555 00:25:34,280 --> 00:25:37,080 Speaker 1: little town. They had an awesome thrift store. So I 556 00:25:37,119 --> 00:25:38,760 Speaker 1: don't know why that sticks out in my mind. But 557 00:25:38,880 --> 00:25:40,200 Speaker 1: if you go to tell your Ride and make sure 558 00:25:40,240 --> 00:25:43,200 Speaker 1: to check out their thrift store downtown, it's a good one. 559 00:25:43,359 --> 00:25:45,399 Speaker 1: They've got a great film fest there, too, don't they 560 00:25:45,520 --> 00:25:47,040 Speaker 1: like they tell You Ride film fests? I think so. 561 00:25:47,200 --> 00:25:49,600 Speaker 1: I think we do. Yeah, I haven't been there for that, 562 00:25:49,680 --> 00:25:51,720 Speaker 1: but probably accurate. It's a it's a it's a high 563 00:25:51,720 --> 00:25:54,199 Speaker 1: flute place. But yeah, that area of Colorado is just 564 00:25:54,280 --> 00:25:57,320 Speaker 1: so freaking beautiful. And this beer was almost as lovely 565 00:25:57,359 --> 00:26:00,359 Speaker 1: as the town itself. So mad props thanks to Tiffany 566 00:26:00,400 --> 00:26:02,160 Speaker 1: for sending this one out to us. We appreciate it. Yeah, 567 00:26:02,160 --> 00:26:04,040 Speaker 1: thanks Tiffany. All right, Matt, let's get to our final 568 00:26:04,040 --> 00:26:06,959 Speaker 1: thoughts on the subject of what every renter needs to know. 569 00:26:07,440 --> 00:26:10,439 Speaker 1: The first thing is that every single renter needs to 570 00:26:10,520 --> 00:26:13,040 Speaker 1: know their rights, and they're different from state to state. 571 00:26:13,320 --> 00:26:16,160 Speaker 1: Some states have more landlord friendly laws, others have more 572 00:26:16,240 --> 00:26:19,360 Speaker 1: tenant friendly laws. It's important to know that from the outset. 573 00:26:19,600 --> 00:26:22,520 Speaker 1: It's also crucial to know what's actually in release before 574 00:26:22,520 --> 00:26:24,960 Speaker 1: you sign it and then Joel. In addition to that, 575 00:26:25,000 --> 00:26:27,560 Speaker 1: you want to make sure that you are documenting everything 576 00:26:27,600 --> 00:26:30,160 Speaker 1: and that you are communicating as much as you can. 577 00:26:30,359 --> 00:26:33,600 Speaker 1: Take pictures before you move into that place. You want 578 00:26:33,640 --> 00:26:36,439 Speaker 1: to document the current condition before you have moved a 579 00:26:36,480 --> 00:26:39,600 Speaker 1: single box into that place. And if any issues do 580 00:26:39,640 --> 00:26:42,639 Speaker 1: arise when you're renting, use email. Email is such a 581 00:26:42,760 --> 00:26:45,399 Speaker 1: clean and easy, a very black and white way to 582 00:26:45,560 --> 00:26:49,360 Speaker 1: document any concerns and guess what your landlord automatically has 583 00:26:49,359 --> 00:26:52,680 Speaker 1: a copy of that there are no questions documentation. Again, 584 00:26:52,720 --> 00:26:54,760 Speaker 1: on the back end, make sure you take pictures when 585 00:26:54,760 --> 00:26:57,120 Speaker 1: you're moving out to prove that you left the place 586 00:26:57,160 --> 00:27:00,440 Speaker 1: in good order and acceptable condition to your landlord. Yeah, 587 00:27:00,520 --> 00:27:03,199 Speaker 1: good documentation could save you in a pinch. Also, make 588 00:27:03,240 --> 00:27:06,600 Speaker 1: sure to advocate well for yourself. Sometimes it's true the 589 00:27:06,600 --> 00:27:08,879 Speaker 1: squeaky wheel gets the grease and you don't want to 590 00:27:08,920 --> 00:27:12,240 Speaker 1: be that annoying, complaining tenant. But if there's a legitimate issue, 591 00:27:12,280 --> 00:27:14,639 Speaker 1: it's important to make that known to your landlord and 592 00:27:14,680 --> 00:27:17,120 Speaker 1: not to relent until that problem is fixed. And if 593 00:27:17,160 --> 00:27:20,000 Speaker 1: your landlord refuses to act, well, you might need to 594 00:27:20,040 --> 00:27:22,320 Speaker 1: go with a method like repair and deduct or even 595 00:27:22,320 --> 00:27:25,240 Speaker 1: complain the local authorities. But just make sure to stick 596 00:27:25,359 --> 00:27:28,360 Speaker 1: up for yourself. Yeah, advocating for yourself, jo I love that. 597 00:27:28,680 --> 00:27:31,160 Speaker 1: You know, if you take renting a little bit more seriously, 598 00:27:31,640 --> 00:27:33,240 Speaker 1: that kind of puts you in the driver's seat when 599 00:27:33,240 --> 00:27:36,120 Speaker 1: it comes to the relationship that you have with your landlord. 600 00:27:36,240 --> 00:27:38,600 Speaker 1: Maybe just a little bit, but it at least keeps 601 00:27:38,640 --> 00:27:41,000 Speaker 1: you from getting pushed around, no doubt, buddy. All Right, 602 00:27:41,040 --> 00:27:42,800 Speaker 1: that's gonna do it for this episode. We'll have some 603 00:27:42,880 --> 00:27:46,359 Speaker 1: really important links that we referenced in this episode on 604 00:27:46,359 --> 00:27:48,800 Speaker 1: our website how to money dot com. And we know 605 00:27:48,920 --> 00:27:51,400 Speaker 1: that we've only scratched the surface, uh in this episode, 606 00:27:51,440 --> 00:27:54,919 Speaker 1: And so as a tenant or a future tenant, if 607 00:27:54,960 --> 00:27:57,600 Speaker 1: you have some questions head over to our Facebook group. 608 00:27:57,680 --> 00:28:00,280 Speaker 1: Just search for how some Money, look for that route 609 00:28:00,320 --> 00:28:01,840 Speaker 1: and throw your question out there. There are a lot 610 00:28:01,880 --> 00:28:04,600 Speaker 1: of folks who are in similar positions as you, and 611 00:28:04,680 --> 00:28:07,639 Speaker 1: we all love helping each other out, so join that community. 612 00:28:07,880 --> 00:28:10,159 Speaker 1: Oh and Joel, we wanted to announce our winners from 613 00:28:10,200 --> 00:28:12,879 Speaker 1: our book Gavoy. Last week we had four copies of 614 00:28:12,920 --> 00:28:17,200 Speaker 1: Tanya Hester's book Work Optional and thanks to m r 615 00:28:17,400 --> 00:28:22,960 Speaker 1: W two to five, Julio Rojo Underscore See one seven 616 00:28:23,440 --> 00:28:27,040 Speaker 1: and a Perkins eighty nine, y'all are the winners and 617 00:28:27,280 --> 00:28:29,560 Speaker 1: Joel or I will be reaching out to you very soon, 618 00:28:29,960 --> 00:28:33,600 Speaker 1: no doubt, buddy. All Right, until next time, Best friends out, 619 00:28:33,800 --> 00:28:34,600 Speaker 1: Best Friends Out,