How to Almost Guarantee That You Will Get Your Apartment Deposit Back

Lee Hansen, Yahoo Contributor Network

Feb 24, 2014 “Share your voice on Yahoo websites.

Don’t make the mistake in assuming that you will automatically get your deposit back when leaving your apartment. Before moving into an apartment take “before” pictures to keep of how it looked when you first moved in. Do the same when you leave. It will be a good reference point to have. Be sure that it is move-in ready with no problems that you might be blamed for. Include the following items or things to do:

Holes from walls – If you have holes in your walls from hanging pictures be sure to use putty and a little paint to repair them. Landlords want the apartment to be left in good shape before renting it to another tenant. The less they have to do in prepping it the better.

Clean out closets completely – Be sure to remove all your clothing from closets and storage area. If you don’t want them, donate to a local charity if they are still in good shape. It is not the landlord’s responsibility to figure out what to do with them.

Clean appliances – Although they may not be in pristine condition they should be thoroughly cleaned for the next person who will occupy the apartment.

Trash and debris – Get rid of all trash and debris from the premises. Aside from being a sanitary issue, it could cause a problem with rodents and roaches being attracted to the garbage.

Floor care – If you have carpet be sure to vacuum it thoroughly. If you have hardwood floors sweep well.

Issues related to landlord – If you have problem with things such as broken pipes and plumbing, contact the landlord immediately. No need in paying for something that is the landlord’s responsibility.

Paint – Some landlords will allow tenants to paint their walls when they move in with the stipulation that they paint them back to its original color before you leave.

Notification – Let the landlord know well in advance when you plan on leaving. Breaking your lease will almost guarantee that you won’t get your deposit back.

Conclusion

While it might take a little elbow grease on your part, it will be worth the effort when you get that deposit back.

 

What this article does not say, but in California you have a right to a pre inspection: “Pursuant to California Civil Code § 1950.5, you have the right to request that the landlord or landlord’s agent (“Landlord”) make an inspection of the Premises prior to the termination of your tenancy for the purpose of giving you an opportunity to remedy deficiencies (consistent with your lease or rental agreement), in order to avoid certain deductions from your security deposit.”

Courtesy of your Arcadia Real Estate Agent

 

Buying beats renting in most U.S. cities

By Les Christie @CNNMoney August 2, 2012: 11:10 AM

Buying  a home in most major markets will end up being cheaper than renting one.
Buying a home in most major markets will end up being cheaper than renting one.

NEW YORK (CNNMoney) — For people who are willing to stay put for a few years, buying a home has become a much better deal than renting in almost every major housing market in the nation.

In more than 75% of the 200 metro areas analyzed by real estate listing web site Zillow, homeowners would reach a “breakeven point” — where owning the home makes better financial sense than renting it — in three years or less.

“Historic levels of affordability make buying a home a better decision than ever, especially considering rents have risen more than 5% over the past year,” said Stan Humphries, chief economist for Zillow.

The survey was Zillow’s first buy-versus-rent analysis, incorporating all homeownership costs, including down payments, closing costs, mortgage payments, property taxes, utilities and maintenance costs, and compared them to rental costs. It also took into account projected home price appreciation and rent increases, as well as tax deductions and inflation.

Zillow’s findings support other reports that show that rising rents, record-low mortgage rates and falling home prices have made homeownership a more attractive option.

In some of the metro areas Zillow looked at, home buyers would break even in less than two years.

In Miami, for example, a homebuyer would only have to stay in their home for about 1.6 years for the purchase to pay off, Zillow said.

Homes in the metro area are selling for about 45% less than they were five years ago. Meanwhile, over the past three years, rents have climbed 20%, according to RentJungle.

Miami’s metro area, along with Tampa, Fla., Memphis, Tenn., and several smaller cities, have the shortest break-even times of the markets Zillow analyzed.

Renters still have the upper hand in some cities. It would take home buyers in San Jose, Calif., 8.3 years to break even on their homes — the longest period of time of any of the metro areas Zillow surveyed. Other big cities where buying was not such a good a deal were Honolulu, at a six-year break-even point, and San Francisco at 5.9 years. To top of page

Buy vs. rent in 30 major cities
City State Breakeven time in years
New York N.Y. 5.1
Los Angeles Calif. 4.3
Chicago Ill. 2.8
Dallas Texas 2.1
Philadelphia Pa. 3
Washington D.C. 3.5
Miami Fla. 1.6
Atlanta Ga. 2.5
Boston Mass. 4.3
San Francisco Calif. 5.9
Detroit Mich. 1.7
Riverside Calif. 2
Phoenix Ariz 1.7
Seattle Wash. 4
Minneapolis Minn. 2.7
San Diego Calif. 3.6
Tampa Fla. 1.6
St. Louis Mo. 2.5
Baltimore Md. 2.8
Denver Colo. 2.5
Pittsburgh Pa. 2.1
Portland Ore. 3.5
Sacramento Calif. 3.1
Orlando Fla. 1.7
Cincinnati Ohio 2.1
Cleveland Ohio 2.4
Las Vegas Nev. 1.7
San Jose Calif. 8.3
Columbus Ohio 2.4
Charlotte N.C. 2.7
Source: Zillow

COURTESY OF YOUR NUMBER ONE ARCADIA REAL ESTATE AGENT