I am in the process of renting a townhome while I continue to look for a home of my own. The owner lives out of state and has a realtor as the go between person since he lives out of state.What is legal information can he have of mine on the rental application and what is not? There is bank account info and account numbers,etc. I don't know this man to give me my personal banking information. I don't mind giving him copies of check stubs. Also, I will be the primary tenant in the townhome and my current roommate will be a co-tenant in the townhome.

The owner says I can do as I wish with the townhome since I would be primary lease holder. However, when other people are involved how do I not hurt the person that is moving in with me with rules, etc. Also, my current roommate wants us to get another roommate since it is a 3 bedroom townhome. I don't want another person moving in right now because my soon to be husband will be moving into the townhome in June and don't want too many people living in the home. Although the extra money would be nice! How do I create separate contracts for other "co-tenants" so that one person won't be upset if someone else is paying xxx in rent. This is news to me in renting from a private owner so any advice from a realtor or a anyone that has rented or been a renter before would be appreciated.

Thanks!

Talk to the realtor or owner of intention to rent out rooms beforehand, so there will be no surprises.

This message has been edited. Last edited by: real estate lady,

My major concern is the private owners rental application asking for my banking account information. I have had problems with people accessing my credit and banking info in the recent past and don't want to open up a can of worm that I won't be able to stop. I am still trying to straighten unallowed banking info access.

ask them what they need...My friend that has rentals has a place for that info, but when we run background checks, we can still get verifications that yes this account exists, etc. We can tell if bills are paid on time....we're running credit checks, so when running a credit check, all that info comes out..

Property owners and rental agencies might differ in guidelines but most will require your social security number in order to do a credit check. I'm not sure if bank statements are even necessary. They will require proof of employment. As well as salary verification. Your co-tenant should be on the lease with you and abide by the rules as well. Make sure it is all documented. If you do decide to rent to a third party, I'm pretty sure that person will have to sign documentation as well.

You've stated that the owner is out-of-state. Was the home on the market prior? When did the owner purchase the home? Where will your deposits be held? Who will address your concerns with the property if need be since the owner is not available? If you've covered your bases, then those questions are all moot.

Furthermore when you move in, take your time with the walk-through. This is the time to address any concerns with the property. Good luck!

If you pay your rent with a check, the landlord will immediately have your bank account information. It is known to anyone who sees your check.
My rental app doesn't request a checking account, but I do run a credit check.

To answer some of your questions applejam:
The homeowner has owned the home for less than 3 yrs. He buys properties and lives in them and then rents them out and relocates where his jobs lead him.

Update:
My roommate that was going to go with me has backed out of renting with me saying that utilities would be too much to pay when we are sharing $675 a month in rent. He said that he is only interested if I could find another roommate.
I just wish he toldl me on Sunday after we looked at the place because I told the realtor that I would have the "hold" deposit on Friday. Now tonight I got a email from the realtor asking for the check early because she is going out of town Friday.

Now what do I do? I wasn't counting on paying $300 hold deposit because I thought the person I was going to be renting with was going to pay the $150 share for hold deposit. Anyone have any suggestions? I sent the owner a email letting him know the situation and that I could pay half of the deposit hold deposit this week and the other half next week. But I also let him know that if he had to put it back on market I would understand, just that I didn't expect not to have a roommate change their mind at the last minute.

My fiance suggested that I be honest with the home owner about what happened and hope that he understands and let me pay each week on the move in deposit.



Yvette

It's good that you sent the e-mail explaining your circumstances.

Since the Realtor is representing the landlord, the agent will advise
their client.

Often times, if the seller feels comfortable with the proposed tenant, things can work with regard to terms/arrangements on deposits and monthly rent.

If you plan to go ahead and sign the lease without a roommate, I would insert a clause that the landlord is aware that you plan to find another roommate during the lease period to share the rent.

However, if you are the only one who appears on the lease and signs the lease, you will be responsible for the entire rent.

This message has been edited. Last edited by: real estate lady,

Real estate lady,
Thank you for your advice. I just sent a email to the realtor explaining to her the situation and informed her that I sent future landlord an email explaining to him what happened as well. I do plan to find another roommate. I just contacted a few people this morning and just waiting for their responses. I do hope it all works out. But I did explain to both parties that if he wanted to put back on market he could. He still has the other tenants in the townhome and they aren't fully moving out until next week. The place will not be ready for 2 to 3 more weeks.

The other people haven't even moved all their belongs out and he still wanting a hold deposit.

I would have thought that he would have waited until the other renter's moved out and had the place cleaned,etc. Before requesting a hold deposit from me.

I have already had a bad experience with a apartment community that had me put a deposit and rent down before showing me the condition of the place and moving in.

I am going into the same situation now and I am so happy you have posted this topic. Thanks!

quote:

Originally posted by Yvetteabigail:
The other people haven't even moved all their belongs out and he still wanting a hold deposit.
I would have thought that he would have waited until the other renter's moved out and had the place cleaned,etc. Before requesting a hold deposit from me.
I have already had a bad experience with a apartment community that had me put a deposit and rent down before showing me the condition of the place and moving in.

It depends on the demand. If it is a high demand place, the agent wants to rent quickly and not deal with any down time, and can simply do it.
If it is not a high demand place, the agent will be more flexible.
As a landlord, I've done it both ways. One place very high demand, I knew I could/would rent to someone else immediately, I didn't want to wait for a deposit and waste my time.
I've also had people tell me they want the place, but they are still shopping, and don't come back.
I don't consider anything rented until I get the deposit.
I do agree it could be difficult for you if the unit is not in move in condition when you move in.
Personally I treat my tenants well, so I can attract and retain good tenants.
As REL said, if the agent likes you it may work fine.

Here is a update:

I emailed the homeowner and the realtor and the owner has agreed to me paying part of the hold deposit this week, and the other part next week. And move on from there. My current roommate has not mentioned any further on whether or not he is still interested in moving when I move. I can't wait on him to make a decision because I have to look out for myself if no one else will. I have emailed a few people as prospective roommates. But I think I will be fine once I get moved in and settled in and have control over who comes and goes.

Where with my roommate not I am paying almost $900 a month to sleep on his couch and he wouldn't even clean out his spare room for me all this time I have lived here. A friend of his was going to move in with us and he was actually going to give her the spare room and still keep me on the couch. That was a bit much. He this was trying to get her to move with us to the new place but her car got broken into and she didn't feel safe. I didn't like his idea of telling her about the place when this was "my" home that I was interested in. Anyway, she doesn't seem to be that serious about needing a place to stay.


The realtor will be looking at the condition of the home on Monday because that is when the guys will have moved out.

I will keep you all update as things progress!

Say goodbye to the guy who didn't give up his bed for you (lol).