Renters insurance is the single greatest investment that a person renting an apartment in Tampa Bay can make. One of the biggest misconceptions about renting is that a landlord is responsible for damage to a renter’s personal belongings. The reality, however, is that a landlord is only responsible for the components of the apartment which belong to them.

Renters Insurance Facts vs. Myths

MYTH – If the landlord is at fault then they will cover the cost of my belongings.

FACT – Although some landlords may help as an act of customer service, they are not required by law to do so.

MYTH – If my neighbor starts a fire, they’ll have to pay for all of my belongings.

FACT – If your neighbor has renters insurance, then you may be able to sue their insurance for restitution. This is not a very viable option, however, especially considering that maintaining your own renters policy will ensure that your losses will be taken care of.

MYTH – Renters insurance is really expensive.

FACT – Most renters insurance policies can be obtained for less than $125 for an entire year, and most insurance companies will offer a multiple policy discount if you obtain your car and renters insurance through them.

MYTH – My roommate’s rental insurance will cover my belongings.

FACT – Each roommate must obtain their own renters insurance policy. If only one roommate has coverage, then only their items will be covered under the policy.

What to Consider before Purchasing a Policy

• Actual Value vs. Replacement Cost – Basic policies generally cover actual value, which allows for depreciation. If you have expensive electronic equipment you may wish to consider upgrading to replacement cost, which will allow you to replace the items at today’s market prices.
• Deductible – Renters insurance deductibles work exactly the same way as car insurance deductibles; the higher the deductible, the lower your monthly bill will be. Be careful not to select a deductible that is so high that you wouldn’t be able to cover your losses.
• Endorsements – If you live in an area which is well known for flooding or power outages then you should consider adding on endorsements to cover these instances. Some companies even allow you to add on an endorsement to cover food spoilage in the event of a power outage.
• Loss of Use Coverage – Make sure that the policy covers the cost of lodging elsewhere if your apartment becomes uninhabitable for a while.
• Floaters for Special Items – Big ticket items usually require their own coverage, and your insurance company should be able to add this onto your renter’s policy. Be sure to have an appraisal done first for any valuable items with a variable value.

Regardless of whether or not you get a basic or an expanded policy, renters insurance will provide you with piece of mind and will become invaluable in the case of an emergency. Make sure that you sign up for a policy before it becomes too late.

Big Dogs Need Apts, Too!

So let me guess: you’ve been searching for an apartment in Florida that will take your beautiful Black Lab, or perhaps you have a gentle German Shepherd.  But you’re not having any luck!  Maybe you live with a lovable Rottweiler, or even a Pit Bull.  But you keep running into the same roadblocks.  You need to move but your gentle giant is coming with you – no matter what.  He’s part of the family now, right?

Yet every time you call or stop by an apartment community, you get the same “sorry story,” as in: “Sorry, we have a pet weight limit and we can’t help you.” Or, “Sorry, your dog is on our “aggressive breeds list” and we can’t accept her!”  Sometimes the answer is “yes!” …. but there’s a catch:  they want to charge you pet deposits and extra fees that are worse than three of your car payments! Some of them even add monthly pet rent! What is that?

We know it can be tough to find an apartment, condo or rental home in the Tampa Bay area if you have a large pet or multiple pets.  Large pets over 40 pounds are frequently subject to very large deposits or not allowed at all.  It can get even worse if you have what’s known in the industry as an “Aggressive Breed.”  Some of the most common breeds that fall into the “Aggressive Breed” category include:  Pit Bulls, German Shepherds, Dobermans, Chows, Rottweilers, Boxers, Great Danes, Dalmatians, Presa Canarios, Alaskan Malamutes and Huskies.  And it doesn’t matter how sweet and gentle your dog may really be; the apartment communities will want to follow their policy based on breed alone.   In some cases, you could luck out if they offer a “pet interview” prior to making an application to the community.

If your pet has any mixture of any of the above breeds, many properties will not accept you at all.  Often, with mixed breeds, they will go by what your dog looks like.   In other words, if your Lab/Rotty mix more closely resembles a Lab, you could be in luck.  If not, you’re probably out of luck.  It’s also important that you do not try to “sneak” it past the manager or explain that “it isn’t a Pit Bull; it’s only a “Staffordshire Terrier!”  It could be a violation of your lease and result in your eviction if found out.

Yes, your choices are pretty slim and those pet fees and deposits can be a budget breaker.  You’ve probably thought about renting a vacant house from the owner, but that’s a big risk in today’s foreclosure market, to say nothing of the HOA pet policies.   So, you keep calling around, hoping that you’ll get lucky. Well, if you want to get lucky now, just contact Apartment Hunters.

We know you don’t need this doggie drama. You just want to find a nice pet-friendly place to rent, for you AND your perky pooch. Apartment Hunters is also a FREE apartment finding service that is always personalized for WHATEVER your pet needs might be. We already work closely with hundreds of Tampa Bay and Orlando Area rental communities, so we can narrow down your dog’s apartment search quickly, easily — and best of all, for FREE!  Got a big dog? –or even 2 of them- let our licensed Rental Specialists help you find the right place, at the right price, for when you need it.   And, we promise to put an end to your doggie drama.

According to a WTSP News (CBS) Tampa report airing earlier this week, if you are renting a house or condo from a private owner, then YOU could now be liable for any unpaid Homeowners Association (HOA) fees! Why? Because as of July 1, 2010, Florida law now makes it possible for condo or homeowners’ associations to come after you for the unpaid HOA fees that your landlord should have been paying out of your monthly rent. That’s right, even if you are just the tenant renting from the homeowner, these fees can now be your problem. And it could be a big problem, even resulting in your eviction. As the WTSP News story explains, “Letters are already flying out from law firms throughout the Sunshine State threatening thousands of renters with eviction if they don’t start paying their landlord’s fees.”

So how do you know whether your landlord is keeping current? Well, you could certainly ask, and then hope that you receive an honest reply. If you’ve known your landlord to be reliable in the past, then it’s unlikely that you’ll have a problem. Typically, your first clue about any delinquency with HOA fees will arrive in the form of a letter requesting payment. “If you receive one of these letters demanding you pay your landlord’s fees – don’t, I repeat, don’t put the letter in your drawer and expect it to go away. The homeowners association has the ability to evict you for non-payment.” said the WTSP report, and “Your first call should be to your landlord to demand that he/she/it pay the fees within 48 hours.” If you are unsuccessful after contacting your landlord, you do have the right under Florida law to pay the delinquent HOA fees directly yourself, and then deduct that amount from your next rent payment to your landlord.

Unfortunately, if your landlord is delinquent in paying the HOA fees, then it is also possible that your landlord is similarly behind in making the mortgage payments! Thus, even if you pay the overdue HOA fees, you may still find yourself facing eviction by the bank, compounding your problems yet further. The bottom line, according to the WTSP report: “a landlord who fails to pay their homeowner’s fees after repeated warnings from the homeowners association is probably a landlord you want to cut ties with when you can.” Sounds like a good idea to me. For the full WTSP story: http://www.wtsp.com/news/columnist/story.aspx?storyid=140520&catid=79.

RB

All aboard.

Next stop on our tour around “The City Beautiful”, is the “Antique District”. This remarkable astounding district is located in Orlando’s prestigious College Park area. Fasten your seatbelts and prepare to be enchanted, for you are about to enter the dazzling world of antiques.

This is such an awesome diversion from everyday life. If you are interested in furniture, pottery, jewelry and yes girls, Vintage Clothing, I invite you to a fab fun day of shopping, exploring, oh ya and dare I say it—lunch.

There are several eateries located in the area. My fav is Ethos Vegan Kitchen. This cafe is strictly vegetarian; the homey atmosphere is a great place to enjoy blissfulness with a vegetarian flare. There are many delectable dishes on the menu, but I would suggest the pecan encrusted eggplant.

This approach to healthy living will leave your taste buds jumping for joy and begging for more. After sharing a delish meal, let’s go two doors down and pick out a bottle of wine from Tim’s Wine Market.

Their impressive wine list and the knowledgeable staff will entice you to try every single bottle. I assure you if you know nothing about wine, you will when you leave.

Next stop (sorry guys this is just for the gals, but you are welcomed to bring your wallets) is a small boutique that specializes in Couture. Ladies you will buy something here and never have to worry about someone wearing the same thing. Girls you know what I am talking about!

Well I don’t know about you but my feet hurt, my belly is full and my money is gone. I’ll catch you next time aboard the tour of the “City Beautiful”.

Ciao

Growing is good and it is always nice to be able to add new players to our team.

In Tampa, Karen Czarnik joined us the first of April. She worked as a locator in St. Louis, Missouri and moved to Florida to be closer to her family. (At least that is what she says! We know the real reason is the weather!) But we are excited to have her. She has hit the ground running and has already started helping people find their perfect home.

In Orlando, Scott Swinson joined our Metrowest team and Wes Paxson joined our Colonial team back in February (sorry I’m late in recognizing you both.)

Scott worked with Century 21 for a number of years and has known our Metrowest manager since grade school. In just over a month he is already giving our veteran consultants a run for their money.

And our newest addition is Angelina Torres, also joining our Metrowest office. Today is her first day and we are very excited to have her. She comes to us most recently from doing new home sales for a local builder but has also worked with ERA Realty so she is no stranger to the real estate industry or meeting the customers’ needs. She is also a graduate of the University of Central Florida.

Apartments are offering some incredible deals and people are moving again so we are gearing up to meet our clients’ needs.

Many of the renters in the Gainesville market are looking for semester leases this time of year.  This can, and usually does, prove to be a very daunting and frustrating task.  While some complexes offer semester leases, they only offer a limited number so you have to act quickly when the lease term is offered.  Most renters don’t like to be in this situation and like to wait and see what else will come available.  This is a double-edged sword.  Some new options may open up or the existing offers will lease up in the same time leaving the renter with no options at all.  At this point, some renters will be tempted to sign a 12 month lease and attempt to sublet the apartment for the remaining months.  While this is not impossible, it is very difficult and time consuming.  Of course, the obvious downside to this scenario is that if the apartment doesn’t get sublet the original renter is responsible to pay the remainder of the lease whether they are living there or not.

The best advice that can be offered on how to handle this dillema is to act quickly when you find a complex offering semester leases.  Yes, another complex may start offering semester leases later, but at least you are settled and are no longer stressing to find an apartment.

This article was forwarded to me and is well worth reading by any individual property owner/investor in Tampa.

There are always con artists looking for new ways to part honest people from their money. It appears that they have come up with one targeting unsuspecting, if not desperate, landlords.

Take a look at http://www.modbee.com/business/scam/story/220406.html

A similar scam targets roommates and usually begins by being contacted by someone out of the country who will send authentic looking checks or money orders in excess of the amount needed. They then ask that the excess be sent back to them only to find out later that their checks/money orders are fake.

A vacant apartment or room is painul enough, but sending money that you don’t have to a crook, now that would hurt!

When you are not redecorating your new apartment home or lounging at the pool, come out and enjoy Orlando’s night life. Orlando offers absolute total relaxation with endless pristine restaurants and a wide variety of museums, festivals and recreational entertainment. From East Orlando to the Southwest side of town you will experience the explosion of flavors from our many new restaurants in this exciting city.

Come join me for a bite to eat at Orlando’s newest European Bistro – La Creperia Café. This fab Bistro is centrally located in the Fashion Square Mall on East Colonial Drive. Your mouth will rejoice at the dazzling selection of nearly 70 items focusing on the sweet and savory crepes to mouth watering Paninis.

After enjoying the latest in cuisine, take a stroll with me around Lake Eola. You can walk off those extra pounds you acquired during your food fest while enjoying the lights and festive atmosphere the Lake has to offer. Be careful, you might fall in love with this area and want to claim it for your own. It gives you a big city atmosphere with a small town charm.

Join us weekly for more of the night life in the city beautiful. Until then I’ve got dinner to eat and lakes to walk.

Ciao!!!

Charis

A recent article in the Tampa Tribune warned “apartment rents are on the rise”.

http://www2.tbo.com/content/2008/feb/14/bz-apartment-rents-are-on-the-rise/?news-money

The quote from the CEO of a large apartment builder and management company may seem ominous but on closer inspection he is talking about “in three to five years”.

What we are seeing right now and expect for the next year are terrific deals for the renter.

While some apartments are raising the rents slightly they are also offering some incredible incentives to lure immediate renters. We have many communities that are offering one, two and sometimes three months FREE.

Oftentimes they will prorate part or all of the special over the lease term, effectively lowering the monthly rent. The decrease can be dramatic!

For example a $1,000 apartment that is offering 2 months free prorated over a 12 month lease will cost $833 per month. That is a tremendous discount!

So, I’m not sure what will happen in three to five years, but I know right now is a GREAT time to be looking for an apartment.

With the recent condo craze/crash in Florida there are a lot of, what a friend of mine calls, accidental landlords. They bought hoping to flip quickly and now are stuck trying to rent them out.

For the renter, they represent a large source of quality housing, usually at a much lower rent. They can’t afford to sit on a vacant unit so they have to do whatever it takes to get them rented.

But even more importantly, they also tend to be more lenient on the qualifications to rent.

Large apartment communities are usually bound by rigid standards that they have to apply across the board. If you have a credit glitch or infraction with the law from errors made years ago you may find it hard to qualify with the big boys.

A private owner may be a great option to use while trying to repair that credit to be able to rent elsewhere or even buy later on.

On the flip side, they don’t always have the expertise or resources to deal with problems that may come up with the apartment (i.e. repairs). Be sure you discuss who will be responsible if something goes wrong in the property and make sure it is spelled out in the lease.

It is also risky for the renter because they could be required to the pay Condo association and HOA fees for which their landlord is delinquent.