Whether you’re looking for your first apartment or you have lots of experience renting, it’s helpful to read up on the role and responsibilities of a landlord. After all, if you are renting, your relationship with your landlord is an important part of your overall renting experience. Understanding your role as a renter and what to expect from your landlord will make your renting experience that much better.
What is a landlord?
First, the basics: what exactly is a landlord? Your landlord is the person who owns the property, whether it’s an apartment, house, condo, or other form of dwelling, and rents it out to you. The landlord allows you to live on the property in exchange for a monthly rental payment. Often a landlord has purchased a property in order to make money on the rent or as a long-term investment (or both).
Your rental contract or lease sets out the terms of your relationship as a renter with your landlord. It spells out exactly what your landlord is responsible for, such as upkeep of the property, and what you’re responsible for as the renter, such as keeping the property clean and avoiding incurring damage to the property. It also says how much you will need to pay in rent, whether you have a security deposit, and whether utilities are included in your rent or a separate payment. While the laws regarding landlords and renters vary by state and locality, there are legal protections for both tenants and landlords in every jurisdiction that will also guide the terms of this relationship.
What are a landlord’s responsibilities?
Generally speaking, a landlord will collect your rent and keep your security deposit. They are also responsible for ensuring that the property is habitable and safe. That means ensuring that the property has heat and hot water, among other things. Safety codes vary by city and state, and a landlord is responsible for keeping up with the required repair and upkeep. The landlord is responsible for keeping up with repairs around your apartment, such as unclogging gutters or drains and repairing appliances like a dishwasher or washing machine.
Some elements of upkeep will depend on your lease agreement with your landlord. For example, your landlord may commit to shoveling your sidewalk when it snows, or you might be on the hook for that responsibility. Make sure you understand which responsibilities your landlord is in charge of versus what you need to do before signing a lease and moving into a property.
What is a security deposit?
If you’re signing a lease to rent an apartment, chances are you’ll need to pay your landlord a security deposit in addition to your monthly rental payments.
A security deposit is an amount of money that you will need to give your landlord before you move into a property. Often this is the same amount as one month’s rent, but the amount can vary. Some leases may also charge an additional security deposit for any pets that will live on the premises. Each state and city may also have laws regarding security deposits.
A security deposit is a kind of insurance for your landlord. If you incur any damage to the apartment beyond normal wear and tear or if you fail to pay your rent, your landlord can take that out of your security deposit. However, your security deposit is refundable a certain number of days after you move out of the apartment at the end of your lease — as long as you have not left behind significant damage.
Before you move into your apartment, make sure you understand your responsibilities as a renter. You may also want to do a walk-through with your landlord before you move in and again after you move out to ensure that you’re on the same page about any existing damage to the apartment before you move in. You can take pictures of potential damage before you move in to document it.
What is a property management company?
While the landlord is the person or company that owns the property, they may want to a hire a company to take care of collecting rent and upkeep on the property. This kind of middleman who manages the property on behalf of a landlord is called a property management company.
If your apartment is managed by a property management company, they may be responsible for finding and screening potential renters, collecting the security deposit and rent, managing leases with renters, and maintaining the property, for example, via landscaping and general repairs. Property management companies charge landlords a flat fee or a percentage of the rent in exchange for these services. As the renter, this doesn’t have much to do with you, except that a property managed by a property management company could have a slightly higher rental cost to account for such fees.
If your apartment is managed by a property management company, then the company will be your first point of contact rather than the landlord. For example, if you have questions about your lease or want to report that an appliance needs repairing, contact your property manager. In fact, you’ll likely never come into direct contact with the landlord — your entire rental experience will happen through the property management company.
Before you move into an apartment or a house, make sure you have carefully read your lease or rental agreement and understand what your landlord’s responsibilities are versus what your responsibilities are as a renter. Make sure that you know how to pay your rent to your landlord or property management company so that you can submit it on time each month. If you are thoughtful about understanding your role and responsibilities as a renter, you’re more likely to have a good relationship with your landlord and a better renting experience at your new place.
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