A: Applicants earn points for their qualifications in 11 categories. We do our best to look at the application packet as a whole; a poor score in one category will not automatically result in the application being denied.
A: Under joint and several liability or all sums, a claimant may pursue an obligation against any one party as if they were jointly liable and it becomes the responsibility of the defendants to sort out their respective proportions of liability and payment. This means that if the claimant pursues one defendant and receives payment, that defendant must then pursue the other obligors for a contribution to their share of the liability.
Joint and several liability is most relevant in tort claims, whereby a plaintiff may recover all the damages from any of the defendants regardless of their individual share of the liability.
As an example, Mary and Sue rent a home for $1000 and agree to pay $500 each towards the rent. Mary does not pay. Sloane Realty would have to notify both Mary and Sue that the rent was not paid and if an eviction or collection is started it would have to be against both Mary and Sue regardless of the fact Sue made a payment. It would be up to the roommates to hash out who is responsible amongst themselves.
Lets add Sue’s dog to the scenario. Sue’s dog has issues with being left alone and decides to eat the blinds causing $100 in damage to the home. Sloane Realty will notify both parties that $100 has been added to their account and both roommates would be responsible for paying. It is up to the roommates to determine who is responsible but if it is not paid, once Security Deposit is settled, the bill will be taken out of the deposit and then an equal amount would be disbursed to each tenant.
Sloane Realty will not be able to make determinations on responsibility of damages or amounts owed between roommates.
A: The security deposit stays with the property and only when the property is completely vacant and turned back over to Sloane Realty can the security deposit be disbursed. When a roommate moves out, the security deposit is to be worked out between all tenants and a written agreement is to be turned into Sloane Realty for records.
For Example: Lets revisit Mary and Sue
Sue has decided to move out of the home early and Mary wants to stay. If the lease is not completed yet, then the rent must still be paid. We see a lot of situations where a tenant leaves the rest of the roommates in a bad situation by leaving without continuing to pay their obligations. Ultimately this situation is between the tenants and we do not have the ability to go after one tenant out of a group for nonpayment. Luckily, Mary has found someone (Alex) to replace Sue. Alex needs to turn in an application to Sloane Realty and must await approval before moving into the home. Once Alex is approved, it is up to Alex, Mary, and Sue to determine how much Sue is to get back any Security Deposit. Sloane Realty can only disburse Security Deposit to the people on the lease as Tenants. Occupants and previous tenants have no claim on deposit unless we receive written notice from the current tenants. Remember that Sue’s dog did $100 in damage in the example above.
Mary and Sue give Alex a copy of the move in inspection. Alex notes that the that everything is the same as the move in inspection and feels comfortable being responsible for the condition of the home. Mary remembers the $100 amount that was charged for the dog damage and after talking with Alex and Sue it is decided that Alex will give Sue $400 in deposit and then be responsible for the $100 due for dog damage.
Alex needs to understand that once he becomes a tenant, he is as equally responsible as Mary for retuning the home in the same condition as when it was received. It is very important that the discussion be had before Alex moves in.
Another example: Mary and Sue have a lease ending July 31. July 1st, Sue decides to give her 30 day notice. Mary decides that she would like to sign a new lease and remain in the house. Since Sloane Realty can not disburse the deposit until the property is returned to our possession, it is up to Mary and Sue to be sure Sue gets her deposit back. If the tenants split the deposit equally initially, then the best case scenario is that Mary give Sue half the deposit minus any damages caused by Sue, and then Mary would receive the full deposit upon her move out later on.
We have seen roommates nearly come to blows over deposit and payment disputes. Be sure to talk out possible scenarios clearly so that you reduce the risk of tension and arguments. We can provide some guidance but we can not get between tenants in cases such as these.
A: If your lease needs to be broken, be sure you inform Sloane Realty as early as possible so that we can begin advertising the property for a new tenant. We will try everything possible to find a replacement tenant so that your responsibility for the remaining rent is limited. To help us find a tenant, please be prepared to have the property in good condition and be as flexible as possible for showings.
Per state law, your security deposit will be disbursed within 30 days of the end of your lease or relinquishment of possession, whichever is later.
We do not have a termination fee. Tenants will be responsible for any re-renting fees that the owner will incur due to you leaving early. For example, tenants breaking a lease will be responsible for the following fees but are not limited to; set-up/advertising fees, rekey fees, administrative fee, rent for each month until the property has been re-rented or the lease expires, etc.