My first listing for rent in NJ

7 Replies

3 Bedroom, 1.5 Bath single family row home. 1120 sq ft. New roof, carpeting, painting, sinks, lighting fixtures. New refrigerator; old range/oven, clothes dryer, washing machine, garage, plus ADT security service provided. West Trenton 1.5 month security deposit and application review of rental history, employment/income verification,eviction and credit checks, etc. Tenant pays for gas heat/hot water/electric and water/sewer service. 3rd party/Section 8 payments accepted. Each adult must pay a $50 credit check non refundable fee before application. Applicants who submit this fee will determine the order of received applicants.

Any comments?

We own a couple of rentals in Trenton...it's highly unlikely that that tenant pool will pay $50 *before* filling out an application. They will likely think you're just trying to collect $50 from anyone that is interested, whether they will be approved or not. 

I don't know any landlords that charge an app fee; we never have, although once an application is approved, we then charge $25 for each adult's background check. We explain that on the phone before they even see the place, and it's stated on the application as well. I don't want to take anyone's money unless I know we've approved them preliminarily.

How much is the rent? We paid for a security service for the first 6 months of one tenant's tenancy. We own the equipment, and told them after 6 months, they can pay for the service on their own (which automatically calls the police) or just use the equipment as a general alarm. They took over the payments, which were about $30 a month.

Originally posted by Aly NA:

We own a couple of rentals in Trenton...it's highly unlikely that that tenant pool will pay $50 *before* filling out an application. They will likely think you're just trying to collect $50 from anyone that is interested, whether they will be approved or not. 

I don't know any landlords that charge an app fee; we never have, although once an application is approved, we then charge $25 for each adult's background check. We explain that on the phone before they even see the place, and it's stated on the application as well. I don't want to take anyone's money unless I know we've approved them preliminarily.

How much is the rent? We paid for a security service for the first 6 months of one tenant's tenancy. We own the equipment, and told them after 6 months, they can pay for the service on their own (which automatically calls the police) or just use the equipment as a general alarm. They took over the payments, which were about $30 a month.

 Good ideas.  Once they state they have 3*rent gross, claim good credit, no evictions then plan to charge to keep out non serious.  For my ADT they will get there own master code.

I have 2 people at this point saying they want to look...

The money needs to come WITH the application. They hand you an application or fill it out online, and pay then. There is no reason for you to shoulder the cost of an eviction and background search without having the $$ upfront. That's standard practice everywhere and Trenton should be no different.

Originally posted by @Ariel O. :

The money needs to come WITH the application. They hand you an application or fill it out online, and pay then. There is no reason for you to shoulder the cost of an eviction and background search without having the $$ upfront. That's standard practice everywhere and Trenton should be no different.

 I got pretty convinced that you meet the prospect in a public place and fill out application.  Most applicant's skip info on application from what I have read.  They must fill out credit check with fee so these two items can be wrapped together?

Beautiful idea on fill it out online.  I did put my docs up on the web.  (Frugal LL ;) inkjet costs)  yes charge my business 10 cents a page.  As my first shot at LL can ponder doing this...  I figure if they are serious I'll give them internet link and tell them to printout 1 + 2 documents.  (Credit + Application).

Originally posted by @Mike Moreken :

3 Bedroom, 1.5 Bath single family row home. 1120 sq ft. New roof, carpeting, painting, sinks, lighting fixtures. New refrigerator; old range/oven, clothes dryer, washing machine, garage, plus ADT security service provided. West Trenton 1.5 month security deposit and application review of rental history, employment/income verification,eviction and credit checks, etc. Tenant pays for gas heat/hot water/electric and water/sewer service. 3rd party/Section 8 payments accepted. Each adult must pay a $50 credit check non refundable fee before application. Applicants who submit this fee will determine the order of received applicants.

Any comments?

 I'd drop "OLD" before range/oven.

Can you legally take 1.5 months in a security deposit in NJ?  I can only take 1 month in VT.  What I do is take First/Last/Security all equal to one month's rent.

Originally posted by @Aaron Montague :
Originally posted by @Mike Moreken:

3 Bedroom, 1.5 Bath single family row home. 1120 sq ft. New roof, carpeting, painting, sinks, lighting fixtures. New refrigerator; old range/oven, clothes dryer, washing machine, garage, plus ADT security service provided. West Trenton 1.5 month security deposit and application review of rental history, employment/income verification,eviction and credit checks, etc. Tenant pays for gas heat/hot water/electric and water/sewer service. 3rd party/Section 8 payments accepted. Each adult must pay a $50 credit check non refundable fee before application. Applicants who submit this fee will determine the order of received applicants.

Any comments?

 I'd drop "OLD" before range/oven.

Can you legally take 1.5 months in a security deposit in NJ?  I can only take 1 month in VT.  What I do is take First/Last/Security all equal to one month's rent.

 Good point to take out 'old'  Yes in NJ (1.5*monthly rent) that is our maximum security deposit.

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