This week California voted on Proposition 98 which by and large would have restricted Gov'ts right to seize property and phased out legislation that protects Tenants. With all the renting I have done in the US and in the UK, I have a pretty good undertanding of where a lot of the painpoints are for Tenants.
The Proposition would have probably passed had they not included the hidden legislation to remove rent control.
California (the most expensive state in the country save one and I would still argue that it is the most expensive because we HAVE to have cars) has legislation to protect landlords and tenants because emotions run high when you start messing with the idea of HOME.
Landlords must respect that when you enter a contract with the tenant you can't abuse it.
Tenants need to understand that when they rent a place it isn't theirs and Landlords have the right to put reasonable percentage increase to ensure a return on their investment.
This includes:
1. Returning Deposits and providing receipts to prove what amount was used for what repair.
Deposits are not apart of a Landlord's income. I feel if 98 passed then the clause that Landlords have to pay that back would have been removed. This language is not specifically itemized in the bill and is included in Rent Control which would have been phased out by the bill passing. A lot of Tenants have been burned by selfish landlords.
2. Landlords have the right to raise the rent a percentage based on legitimate cost of living in the area; perhaps an increase based on a CPI should be encourage to help define it..
Landlord's need to recognize that their business is based on people. People whom, for whatever reasons, may not get the increase in their salary that could support the kind of increase you want to charge. Wake up. You'll lose great tenants this way if you abuse it. There is ALWAYS somewhere better to move.
3. Tenants must understand: Get out if you don't like it. Landlords can't hold you hostage if you don't let them. Remember you're attached to the apartment and not the other way around.
Emotionally distance yourself from the space. Start growing a small savings account that you don't touch. Even the poorest of us can save pennies. Let it grow slowly but ensure that it's there for deposits on a new place when you need it. And then leave that apartment when you can.
Would you keep shopping at a store if they treated you badly? Heck no. Renting a space is no different.
Landlords: You have to understand that you're in a business that you can't abuse your client. If you keep trying to abuse your tenants, laws will be passed to restrict your rights. You know it will happen. Why make it worse for yourself by inviting it? Be honest and treat your tenant like a client in your store. You WANT them to respect the merchandise. You WANT them to pay on time. You WANT good clients.
Like attracts like. Be respectful and your Tenants will respect you. If all Tenants and Landlords respected the real cost of this business we wouldn't need rent control.
It is a huge disappointment that gone and forgotten is the code: The Love of Money is the Root of All Evil.