All Forum Posts by: Diane S.

Have  to comment.. Buyers agency is sometimes confusing and varies by state law, some states and companies require the realtor to inform the client who's behalf they are working for, and still the commission is paid by the seller... this being different than hiring an agent with a set finders fee, when in reality that is the only way you can truly represent the best interest of the buyer... an agent with out that isn't going to work hard to get the price down usually and therefor lower the commission, there are exceptions such as loyalty, professionalism etc, most established agents know or should up front if they want to work with a particular type of buyer, some don't even work with buyers and will only work listing side,  if they know this they have a list of other agents they work with that may be newer, hungrier or plain just love a certain niche, say rentals, first time buyer, commercial etc... in many offices rentals go to the newer agents, lower commissions, less contingencies, faster closing to commission, a more experienced agent has a fuller list of clientele already, say investors.. that they have as time priorities, some agents may think they can stick with the bigger payout exclusively and they went hungry when the market soured,  were very poor at referring and public tact,  I started out in the beginning just like many but always supplemented with a rental or two a month,  had my pocket investor that had a very nice portfolio of 1br rentals, if any foreclosures came up in one of three condo developments they were guaranteed sales and was my job to make sure he knew about them first,  on that respect I was his buyers agent, finding and follow through on his behalf, the difference of sale price I negotiated  was worth the repeat business, as a main stream I represented a subdivision builder and usually referred many used home sales to a coworker if outside of the subdivision, was also a mentor to 2 newer agents, time management and if you represent both sides duel agency kicks in , not one side, yes double commission, but double the work and double sided representation , again in most states signing an agency is usually confined and limit to the individual transaction unless you specifically hire for a set finders fee, yes even if you signed paperwork, if you read the paperwork, you signed that the agent informed you of your rights and you understood them not that there was any exclusiveness involved, or guarantees , there have been lawsuits on commissions when an exclusive contract is signed or there is a dispute as to who originally introduced the property or showed it, say when an agent feels a buyer or seller went around to lower a commission or price, exclusive contracts are extremely rare, they would usually read I will work x hrs a week to find giga properties in xyz with set criteria  in return for $xxxx and return buyer will only pay realtor me or work exclusively, so till you actually purchase you do not have a contract with the agent just an agreement for intent if you do. So when it comes down to it find an agent you feel you are on the same page with, you are not their only client but must feel valued, hopefully the loyalty will go both ways and the value equitable to each other, It is a commission sale industry, everyone does have their different standards, just find yours

It is so easy to become a target anymore for acting slightly different to prospective tenants even if you really didn't mean to,  I just wouldn't want to make it easier and put a bullseye in advertising. But as I said I know of a case of a couple that had high income just didn't hold the jobs for long, routinely late on payments and knew which would be reported or not, always a week away from eviction but knows money talks, they are not section 8 so don't care, their credit score is over 700 just doesn't believe rent should come before a dinner out, they had a notice to quit but paid up by due date,  it is family (cringe) and I would never rent to them but if they want ac or granite would gladly be one that paid higher for it. Champagne taste and the income sometimes ( psychologist) but different priorities.  So good and bad in all income groups, I think we can use that phrase?

1)  But again is the loss or profit from not putting all deposits in escrow worth it? You can  keep small % interest for admin fees but again worth it? (original question)

2) Advertising anything that may be interpreted different based on the opinion or feelings of the tenants or magistrate that day worth it? Especially if fair housing is looking for it. May be more work but just keep it simple. Like you said the rent is xyz here for everyone. As long as you can get it that's what drives the market ( original question)

https://billypenn.com/2015/11/18/no-section-8-the-craigslist-practice-that-could-cost-landlords-big-time/

I know I saw a posting from Philadelphia officially prosecuting and aggressively going after landlords that advertise "no section 8" on craigslist , they do have a number to contact the city to report and are fining, so given the costs stated if you lose is it worth the risk, and as far as rent amount, they compute 3x the rent from the tenants contribution, since most section 8 only pay 30% or less they would always qualify, some zero income actually are 100% cover so based on contribution would qualify for any, and section 8 cant have major criminal background or evictions during time covered by section 8 they would pass that screening, so perhaps best way is to crunch the numbers or credit, to see the tenants priority on debts, some although that have higher income would rather spend money on toys and diner out, a voucher takes so long to get they may not want to lose it, and if some has lots of undocumentable income or less stable say make $30 hr but only keep that job for 2 months till they get in... have to look at each scenario , maybe if their current address is local just drive by it, may be questionable but peace of mind... I think reference letters from neighbors would mean more than employers because they see how they are at home, and current landlord may give good reference just to get rid of high maintenance tenant. Either way you are in the business of making money, it all has its risks, the sweet old lady on section 8 may be a better tenant than the young couple that both work and may split within the year and walk away, of course the sweet lady could turn into the cat lady with 20 cats she is hiding, better to advertise and attract a large pool so you can have a pick from, I personally know a couple with high income(not section 8) but regularly have high spending and change jobs every couple months, and know of vets on section 8 that are disabled and respect authority and would give their last dime to rent payment first so comes down to can they afford and will they pay, bottom line. Don't advertise your personal preferences. Discrimination is having your mind made up before about a class or group and advertising that fact would make it easier to get in trouble. Better to stay as neutral in anything in print.  Someone in a protected class may not qualify but if you exclude the strictly for being in that class you get in trouble, the city which issues your license in Philly views different classes as protected. Like I said before check with the housing authority in the city of rental there are at least 2 cities in pa that are different than state regs. And 6 states you cant advertise no section 8, and even more cities across country. Constantly changing regs make it hard to keep up granted. But why stick your neck out in advertising? You are just asking for a challenge. Just like if you have 2 rentals, same rent, and your steer a section 8 to a particular neighborhood. A big no no. Or charging more rent because they are section 8 is no different there than charging more because they are a particular race in Philly. And you certainly wouldn't advertise that.

Another interesting thing to watch for:

1. Landlords must have a valid rental

license from L&I before offering property for

rent in the City of Philadelphia.

2. If Landlords do not reside in Philadelphia,

they must have a Philadelphia Agent. Give the

name, address and phone number of the

Agent to the Tenant.

3. No matter what the lease states, Landlords

are generally responsible for repairs to the

property. There is an implied warranty of

habitability in every lease, which extends to

the Tenant. Landlords may not pass on the

cost of maintenance repairs to the Tenant.

Landlords must give Tenants 24 hours notice

before entering the property except in

emergencies.

4. If the Tenant stays in the property for more

than 12 months, Landlords must return to the

Tenant any security deposit in excess of one

month. Security deposits must be returned to

the Tenant within 30 days after he/she

vacates the premises.

as far as advertising about section 8, I guess would depend on local laws:

"Philadelphia law protects an individual’s basic right to fair and equal treatment by landlords and other providers of housing and real property.

It also prohibits discrimination by providers of housing and real property related services, such as banks, insurance agents and real estate brokers.

Property discrimination may happen when property or property services are denied outright, such as when someone’s application for tenancy or a loan is rejected.

Discrimination may also happen in other ways, such as when someone is offered less favorable lease terms or interest rates than others or when a physical barrier or other issue makes property inaccessible to someone who has a disability.

Source of income refers to any lawful income, subsidy or benefit with which an individual supports himself or herself and his or her dependents, including, but not limited to, child support, maintenance, and any federal, state or local public assistance, medical assistance, or rental assistance program. The FPO prohibits prohibit landlords and other property owners from discriminating against persons seeking housing or real property based on the source of income to be used in the rental or purchase of that property. Source of income is not protected from discrimination in employment or public accommodations"

Curious what does it run/cost to take it to appellate level on an appeal? and does anyone know of any cases won in PA at that level? Any fail? Any fines? just curious of actual cases

(a) No landlord may require a sum in excess of two months' rent to be deposited in escrow for the payment of damages to the leasehold premises and/or default in rent thereof during the first year of any lease.

(b) During the second and subsequent years of the lease or during any renewal of the original lease the amount required to be deposited may not exceed one month's rent.

(c) If, during the third or subsequent year of a lease, or during any renewal after the expiration of two years of tenancy, the landlord requires the one month's rent escrow provided herein, upon termination of the lease, or on surrender and acceptance of the leasehold premises, the escrow funds together with interest shall be returned to the tenant in accordance with sections 511.2 and 512.

(d) Whenever a tenant has been in possession of premises for a period of five years or greater, any increase or increases in rent shall not require a concomitant increase in any security deposit.

(e) This section applies only to the rental of residential property.

(f) Any attempted waiver of this section by a tenant by contract or otherwise shall be void and unenforceable.

wasn't saying collect a separate payment each month but  of building into expenses and avoiding the question raised, because at many levels things can be interpreted different, if security it cant be used unless damages and after they vacate, as last month cant be used till then either, always check with your lawyers advise , I just would not personally want to take the risk and have to pay to defend that position over one months rent or role the dice on double damages

section 8 does not equal low class, does not do personality interviews, sections 8 pays the rent, the tenants qualify financially and background checks, home qualifies based on inspections for safe housing, sometimes same as many city COs , and rent reasonableness , landlord still decides on which tenants, just because you will take s8 you don't have to take any tenant they send over, most areas monthly inspections are considered too invasive, just annual, but if you pick up rent check each month could get some idea,  many states and large cities are making accepting section 8 payments mandatory by laws, Baltimore is one of them its in the works so read up now, also investing in section8 housing isn't always the same as owning a individual rental and being a landlord, many investment can be strictly monetary and not deal with day to day

http://www.baltimorehousing.org/landlord_center

ahhh I did reread.... son and daughter both currently occupy, but all three must have little income as an $8 contribution, that could change on renewal if she is now receiving disability, and definately will change if two more adults added depending on their income status, if students, college or high school? if college how do they live now?, if on financial aid may make a difference, living expenses allotment may be counted as income,  if high school and may make a difference if under parents support

with her renewal they will always recalculate finances

full ssi disabled ($733 base no dependents) pays 30% of ssi toward rent which is roughly $200 and utility adjustments, with 2 dependents would receive more ,  if she just got ssi, may also have lump sum pay out from ssi can use for purchase , home buying programs can take some time also

just fwi