PHILIPSBURG:--- Landlords are becoming increasingly vigilant about the risk factors associated with renting their properties. Likewise, tenants face challenges with negligent property managers or landlords who refuse to return security deposits despite all terms of the agreement being met by the tenant.
St. Maarten Rent Connect (SRC) is a leasing protection - data management agency, newly established on St. Maarten with the core objective of working in the interest of both the landlord and tenant.
SRC offers services that does the ground work and screening to ensure of a healthy relationship between the landlord and the tenant.
To assist tenants and landlords with establishing a positive rating, SRC tenancy program promotes honesty and reliability by discovering each client via an application and verification process, followed by connecting property owners and renters based on profiles.
The difficulties between landlords and tenants largely stems from a lack of understanding of ones rights and responsibilities. Its easy to close a deal, but if the standards, terms and conditions of the agreement are not clearly identified in the beginning, major problems can unfold, causing a negative landlord / tenant relationship.
SRC identifies with the “Renters Ordinance” of St. Maarten and can provide specific information to either party. SRC is available to prepare rental agreements, tenant/landlord notices among other tenancy services.
One of the beneficial programs offered by SRC is its Rent Assurance Escrow service. In an unstable economy and considering the common practice of term contract employment, its important for tenants to secure their homes in the event the unexpected occurs. With the Rent Assurance Escrow program, tenants have the opportunity to build a reserve account with two or three months of rent in the event they ever lose their job.
This is a security feature bearing benefit for both the tenant and the landlord. While the tenant searches for new employment, the landlord will have comfort in knowing that their mortgage or other connected debts won’t be jeopardized due to the tenant’s loss of employment.
According to Anna Rabess-Richardson, CEO, “SRC is excited about launching its services to the public of landlords and tenants. This is a win-win for both parties as they will have the advantage of services tailor-made with solutions that are designed to work in their interest and ultimate benefit.”
“We look forward to having landlords adapt the practice of requiring potential tenants to present a rating report before they enter into an agreement. Its important that both parties are aware of their rights, the law and the legal process required should a disagreement arise. This is also an important opportunity for tenants to learn if a landlord has a good track record or not.