Basic Needs

Holding Deposits 

Holding deposits are refundable according to the terms of your holding deposit agreement. Renters provide holding deposits to landlords to reserve a property before signing a lease or paying a security deposit. While holding deposits temporarily secure housing for a tenant, they are not as binding as security deposits. Typically, a holding deposit reserves a rental unit for one to two weeks. Even after paying the deposit, a tenant can still choose not to lease the property. Oftentimes landlords can deduct the holding deposit from the security deposit or the tenant's first month's rent this will be stated in your "holding deposit agreement".

(Source: apartments.com/holdingdeposits)

Security Deposits 

A Security Deposit is a sum of money held by the landlord as a form of financial protection against potential breaches of the lease agreement by the tenant. It is typically required at the beginning of the lease term and is used to cover any unpaid rent, damages to the property beyond normal wear and tear, or other obligations not met by the tenant. The security deposit serves as a safeguard for the landlord, ensuring that the property will be maintained and that the financial risks associated with renting out the property are mitigated. 

(Source: Rent.com/rentdefined/term/security-deposit)

Cosigner

It is common for the student demographic to have a cosigner when renting an apartment, room for rent, etc. A cosigner, typically is someone with better credit or a higher income, who agrees to take responsibility for the debt or lease payments if the primary borrower or tenant cannot fulfill their obligations. A cosigner is needed when an individual applying for a loan, lease, or credit account has insufficient credit history, a low credit score, or an income that doesn't meet the lender's or landlord's requirements. This provides the lender or landlord with added security, making them more likely to approve the application.

Guarantor

A guarantor is similar to that of a cosigner with mild differences however they are often interchangeable. A guarantor is someone who agrees to take responsibility for another person's financial obligations, such as a loan, lease, or credit account, if that person fails to meet their payments. Similar to a cosigner, a guarantor provides an extra layer of security for lenders or landlords by guaranteeing that the debt or rent will be paid even if the primary borrower or tenant is unable to do so. This arrangement can help someone with limited credit history, a low credit score, or insufficient income get approved for a loan or lease. The guarantor does not have ownership or rights to the property or loan but is legally obligated to cover the payments if needed.

 Quick reference 

Resource Tip

Need a Guarantor? 

There are many apartments/ landlords that will require you to have a certain income amount, if you do not meet the income threshold they will require you to have a co-signer/guarantor. But what happens if your family or friends are not able to help you financially? There are companies such The Guarantors and LeapEasy that will assist in providing the upfront deposit with met conditions. Review the two links below for more information- Note: These are not UCR affiliated

1. The Guarantors
2. LeapEasy

Lease Agreement

Lease Agreements are legally binding contracts between the landlord (lessor) and the tenant (lessee) that set forth the terms of the property and the duties/obligations of each party. Both the landlord and the tenant face consequences if they fail to uphold the terms of the contract. 

Each lease consists of the following: 

• The property address
• Identifying parties
• The rent amount
• A required security deposit 
• Rent due date 
• Consequences for breach of contract 
• The duration of the lease 
• Pet policies 
• Other essential information

There are a multiple versions of leases that can be found online but overall they hold the same information.

Click lease agreement for a sample.  

Sublease Agreement

Sublease Agreements are also legally binding however this type of agreement is between the current tenant of a rental property (the "sublessor") to a new tenant (the "sublessee") and permits the new tenant to take over all (or part) of the property. The landlord must give the initial renter approval before subletting the property.

Click sublease agreement for an example 

Having a lease agreement is important because it outlines the terms of a rental agreement between the tenant and landlord. It also serves as a form of protection as it is a legally binding contract with set rules, terms, and conditions. If any regulations within the lease are broken (by either the tenant or landlord), the contract can be shown in court to settle a dispute. Overall, a lease is tangible proof that a tenant has fixed living space for a period of time with rights to privacy, notices, and changes of housing regulations.

Roommate Agreement

A Roommate Agreement is a contract between you and your housemates, outlining each person's responsibilities and addressing common concerns. Unlike a lease, this agreement focuses specifically on the dynamics and expectations between roommates. It is strongly advised to establish such an agreement when living with individuals who are neither family members nor close friends especially when the lease contains all members of the household. 

Click roommate agreement  for an example 

Move-In Move-Out Checklist 

The purpose of a move-in checklist is to ensure both the tenant and landlord agree that the apartment is in good condition, or, if the apartment isn’t in good condition, then the landlord will make the necessary repairs as soon as possible. It also serves as a form of insurance for the tenant. By documenting existing wear and tear in the apartment before you move-in, you protect yourself from being liable for any damage that was caused by a previous tenant when you eventually move out.

The purpose of a move-out checklist is to identify any damage caused by the tenant beyond normal wear and tear that may allow a landlord to use part of the security deposit to pay for repairs. It helps ensure the property is in a clean condition so that the home can be turned over and made ready for the next tenant quicker and cost-effectively. It provides a landlord with a better idea of the amount of cleaning and repairs needed to make the property move-in ready.

• Move in/Move out checklists are highly recommended for both public AND private renting

For an example:  Move in/Move out checklist

Below is a moveout cleaning checklist. This is not mandatory but is merely a guide for tenants. 

The following resources can help assist students legally if they were to come across a dispute or any other issue with a landlord that is beyond verbal mediation: 

• ASUCR Legal Clinic- ASUCR works with volunteer attorneys to provide free legal services to registered undergraduate students at UC Riverside. The attorneys do not provide formal legal representation but rather education and self-help services to assist and help students to solve problems. As far as renting, the volunteer attorneys can give advice on the following 
  • Roommate, landlord, and security deposit issues 
  • Small claims court 

Please note that ASUCR Legal Clinic services is not extended to grad students

• Demand Letter- Tenants should make a formal request demanding the return of their security deposit when the landlord fails to return the funds after 21 days and has not provided an accounting. The demand letter can be sent electronically via email as well as tenants sending a copy of certified mail. It is typical to allow 7-14 days for your landlord to respond before filing a lawsuit in a small claims court. 
  • Here is a demand letter template provided by the California Courts https://www.courts.ca.gov/11150.htm 
• Fair Housing Council- Located in Downtown Riverside, Fair Housing Council offers services to both landlords and tenants in an effort to resolve disputes arising from the individual's tenancy. After receiving complaints and investigating them, the council proceeds to move forward with disputes between landlords and tenants by mediation. In attempts to educate the community on housing, Fair Housing also hosts educational workshops for both landlords and tenants on their rights and responsibilities under Fair Housing laws. Some of their workshops include the following 
  • Repair notices
  • Lease agreements 
  • Landlord-Tenant mediation
  • Section 8
  • Evictions
  • Occupancy standards