A: Gee, your idea to give your mortgage company as a reference sounds like a good one to me. But first, let me explain what a "rental history" or "rental report" (or "rental resume" - there seem to be a million names for these things!) is, and what it does.

Think of it like a job resume. Landlords will look at it for certain information; many of them check your references, and many do not. Landlords, property managers and owners may look at the history and make a phone call, or send a fax, and ask your previous property manager if you paid your rent on time, if you left under good circumstances (gave the right amount of notice, kept the place in good repair), and if they would rent to you again. Basic stuff - take a look at our Renter's Resume to see how we present your references and if one can be helpful for you. Usually, these don't go into the level of detail that a mortgage lender would in examining your credit.

So there is no hard and fast rule. If you have a "rental history" and it is a good one, this certainly is a bonus. But if you do not, it is not necessarily a negative. Your case is a good example. You have no immediate rental history because you're a homeowner. It would seem to me that you should be a lesser risk (because you would likely have a strong credit history with solid employment and a mortgage, and the like) than someone just starting out.

Definitely, on any rental application, I would explain that you're an owner, and I would ask the property manager what access they would need to satisfy themselves that you paid your mortgage payments on time. But I wouldn't give them absolute unfettered access to your personal financial information - just enough to show them that you're responsible. Best of luck.

A: Good question. What happens to your security deposit when ownership changes...well, what happens generally when ownership changes? Legally, the new owner is said to "stand in the shoes" of the former owner, and he or she must honor the existing leases, which means that he or she has to honor the existing deposit arrangements as well. But neither the landlord or tenant can walk away from the lease due solely to a change in ownership, unless such a term was in the lease.

What happens to the security deposit will depend on what state you're in. Tenant notification is necessary, according to California Civil Code Section 1950.4(8)(1), if the new owner will be receiving the security deposits held on behalf of the existing tenants by the old owner. But this provision only impacts your the legal liabilities surrounding your deposit; it does not allow you to break the lease. My impression of that provision in the law is that if the old owner does not give notice, you may be able to look to them to get the deposit back upon the expiration of your lease, if no notice of transfer is given. (Notice, legally, is one way to shift liability.)

You should ask the new owner if they will be receiving your deposit, and then I would confirm the amount with them. It would not hurt to get this in writing.

Understanding housing laws
Q: I have a friend living in Japan that is planning to move to Boston soon with his wife and 2 year old daughter. A realtor told him that the law in Massachusetts says that he must rent at least a two bedroom. Is this true?

Frank T., Hiroshima

A: I spoke with personnel at the Legal Aid Center and they confirmed two things - first, that if such a law exists, it would be found in the City Codes for the City of Boston. Second, they had not heard of such a law. That doesn't mean that it does or does not exist. Because these codes are not easily accessible (not on-line and not stocked by local law libraries), I cannot do this research. I do have a couple of suggestions for you:

(1) Contact Legal Aid on Monday; their number is 617.371.1234 and run the scenario by them.

(2) Check out this page: www.bostonapartments.com/rentips.htm. One of the local providers has done a good job of collecting local info, including local legal resources that may be of help in your specific situation.

(3) Whenever someone cites a law to you, ask them to name the law, where it can be found, and if they have a copy of it. It's always good policy to verify information.

Also, you should know that any discrimination against families is prohibited by the Federal Fair Housing Act of 1969. Therefore, if the ordinance targets families (and not roommates, etc.) then it would conflict with the Federal law and would be void.

A: My sources tell me that the LA area market is unusually tight. If you can find a place that you like, the sooner the better.

The problem is that many places won't know if they will have a vacancy until the beginning of the month prior to the month the tenant intends to move out. So, you won't know for certain if the tenant is moving out two or three months in advance.

My advice would be as follows: find three properties that you like. Submit your rental application now (and your credit report and so forth). Stay in communication with all three properties, and get on a waiting list, if possible. Ask them to give you their best "guesstimate" of your chances of getting a place during the period you want to move in.

If the buildings have at least 10 or more units, you'll likely have much better odds (unless you're in a rent controlled area, in which case you may never get in). If you increase the number of places, you increase your odds. So stay on top of it, strike early and often and use RENTNET® for all your apartment needs!