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K. D.

Member since January 27, 2024

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Daily Late Fee is usury

K. D.•10 months ago with 5% of monthly rent it would be for a $2000 rent $100 daily. People rent usually what they can afford, penalty, if necessary should not be a profit making for landlord but avoid a loss. Sometimes people might not get their wages or other receivables paid in time themselves. Even 1% daily would be already a lot, but maybe reasonable. The law should be socially balanced.

Security Deposit is too high

K. D.•10 months ago A three months security Deposit is far to high. Common practice is that one twelves of the annual rent is used by the landlord for any upkeep and repair, thus a months rent should be sufficient for damages to the property which tenant is not willing or able to pay for. "normal people" don't have 3 of the already sky rocking rents sitting in a bank account. Consider normal people, please. Rentcontrol units used to have a max of 1/2 a rent!!

WHo secures the security deposit for the tenant?

K. D.•10 months ago The security deposit, no matter how high, should be put into a separate account that cannot be seized by a third party or used by the landlord (for example for living expenses) by landlord without the signature of the tenant while the tenancy is still active The
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