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 The information contained in the ASK MIKE column is provided for general information purposes only and is not intended to be a legal opinion nor legal advice nor is it intended to be a complete discussion of all issued related to the law. No attorney client relationship shall be deemed to arise hereunder. Every individual's factual situation is different and you should seek independent legal advice regarding specific situations. All information contained within pertains only to California law unless otherwise noted. Landlord/Tenant Question 1 Question 2 I own a small apartment building and I'm really concerned about having a waterbed in the building, especially on an upper floor. A recent apartment applicant looked like a great potential tenant, except that he had a waterbed. He told me I couldn't refuse to rent to him just because his bed might leak. What can I do to protect my property against the risk of a major waterbed spill? Answer: The law doesn't specifically allow discrimination against waterbed owners. It does, however, provide landlords with some protection. You are allowed to guard against potential damage by requiring an extra security deposit - equal to one-half month's rent - of a tenant who owns a waterbed. That is in addition to the normal security deposit you require of your other tenants. Of course, if the tenant moves out and the waterbed has caused no damage to the unit or the building, you must return that waterbed deposit. If there is damage, you must give the tenant an itemized statement of expenses to repair the damage and a refund of any excess deposit. The three-week rule for returning or applying security deposits also applies to this waterbed deposit.
Question: With property values increasing, I'm interested in buying an apartment building.
I've never been a landlord but I know I want to protect my investment. I'm wondering
how much security deposit I could charge to make sure tenants don't trash the place and
leave me in the lurch. Can you help? The amount of a residential property security deposit depends on the length of the lease and whether the apartment is furnished or unfurnished. Typically, a landlord asks for a security deposit and some rent up front. State law says the total of rent and security deposit requested cannot exceed two month's rent for an unfurnished residential property or four month's rent for a furnished property. If you offer a six months or longer lease term, you can collect up to six month's rent in advance. Finding a renter under those terms might be difficult, however. Once the lease is terminated, a landlord has three weeks to refund any security deposit
or provide the tenant with an itemized statement of expenses and a refund on the balance.
If you don't return a security deposit promptly, you face statutory penalties of up
to $600 in addition to actual damages to the tenant.
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