What tenant paperwork can an owner view?

What tenant paperwork can an owner view?

SFR Investor · South Bend, IN · Member since 2013 · 342 posts · 56 votes

New property managers moved a tenant moved into a rental house I own on May 2. I do a drive-by and talk to the neighbors about how my properties are going about once a year or two, as I'm an out of state owner, and I did this last weekend.  Turns out the first day the tenants were there, they claim they closed the front door and the window just fell out. Thought it sounded suspicious so talked to the neighbors. Neighbors report the tenants had a wild, drunken party and they said they thought a drunk person on the porch fell through the window, which it does look like.  

The neighbors also report that the tenants are "really wild" (a neighbor's son hung out with them) and "stepped right off the Jerry Springer show," and they can't imagine these people will stick around for that long.

I am concerned that the proper background checks were not done - am I within my rights to ask to see the paperwork for these checks that they claimed they do on all tenants? I understand credit reports can be sticky but what about rental history, references, etc? 

Beyond this, I feel there was a failure in judgement as well. If multiple neighbors detected the same thing about these people, how did my property manager miss it and hand them an application in the first place? There is one name on the rental portal for the lease, but neighbors say 2-4 people are living there. There were 3 junked out cars in the driveway as well. I am going to talk to the property manager tonight (as well as discuss the shoddy nature of the repair - just a small piece of wood attached that didn't even cover half of the broken window on the door leaving the house exposed, and had been that way for a week and a half when I saw it). I obviously would like to find out what is going on and to see whatever paperwork I am in my rights to view. 

As an aside, these property managers were recommended to me by a friend and of course had stellar references. 

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Rental Property Investor · Everywhere, USA · Member since 2012 · 689 posts · 525 votes
8y

@Amie D. - It is very possible they just signed the first person they could, or relaxed the criteria, or didn't try or didn't at all verify their previous rental. Or the previous owner could have just said they were great tenants to get rid of them. Lots of things could have happened.

Make sure to have your PM send notices about damage, and excessive noise if there is a clause in your lease. Basically get them to start documenting everything. 

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  • Rental Property Investor · Everywhere, USA · Member since 2012 · 689 posts · 525 votes
    8y

    @Amie D. I would just call your property manager and talk to them. Let them know you have heard from neighbors. Take an approach of being curious how the screening came out vs being accusatory. 

    It could be the fault of the property manager, or they could have been duped. It could have been one perfect looking tenant that applied, but the family/friends that came with them are the problem. 

    Also, do you have preset minimum screening criteria set with your PM? Or when you contracted them did they inform you of the criteria?

  • SFR Investor · South Bend, IN · Member since 2013 · 342 posts · 56 votes
    8y
    Originally posted by @Andrew Kerr:

    @Amie D. I would just call your property manager and talk to them. Let them know you have heard from neighbors. Take an approach of being curious how the screening came out vs being accusatory. 

    It could be the fault of the property manager, or they could have been duped. It could have been one perfect looking tenant that applied, but the family/friends that came with them are the problem. 

    Also, do you have preset minimum screening criteria set with your PM? Or when you contracted them did they inform you of the criteria?

    Yes I am about to call him and see what is going on. There is preset minimum screening but also a discretion about who in general would be suitable tenants that would go beyond the numbers. As an extreme example, if I had potential tenants show up to view a property who were drunk and high, they wouldn't even get an application from me. "Someone has already applied but I can let you know if anything changes." This concerns me because of the reports I have received from the neighbors that picked up these things up from the new residents. Perhaps the one person that showed up that is on the lease presented himself decently and the others who are possibly living there are causing the issues. If it's his responsibility to maintain the place though I don't see why he'd let troublemakers stay/visit/whatever.

    I'm calling the property manager in a bit and will update. I was pretty shocked with what the neighborS told me about the tenants and the condition of the front door and slipshod repair. The manager replied to my email asking about the repair saying he wanted the contractor to use plexiglass but he had to use what he had on hand. That is fine if it is the right size and material, but if not, why not measure it and go to the home improvement store and buy the material to do the repair right.

    It was taking them a longer than average time for them to rent the house and it had already been vacant a month before that due to my last property manager. So I am not sure if they signed the first people that said yes, or what is going on, but I will find out.

  • Rental Property Investor · Everywhere, USA · Member since 2012 · 689 posts · 525 votes
    8y

    @Amie D. - It is very possible they just signed the first person they could, or relaxed the criteria, or didn't try or didn't at all verify their previous rental. Or the previous owner could have just said they were great tenants to get rid of them. Lots of things could have happened.

    Make sure to have your PM send notices about damage, and excessive noise if there is a clause in your lease. Basically get them to start documenting everything. 

  • SFR Investor · South Bend, IN · Member since 2013 · 342 posts · 56 votes
    8y

    @Andrew Kerr thanks, I just talked to them. I had a list of questions and went through them, not in an accusatory way but just trying to understand what was going on. 

    First, they said the original patch did fit the window but more glass apparently fell out. They said someone is there today applying a plexiglass patch that will seal the window. 

    Second, they said these tenants did pass all their usual checks, but another red flag for me is that my property manager only had called their current landlord as a rental reference - and that's it. They said their current landlord gave them a stellar review - and my property manager admitted that maybe they just wanted to get rid of them, which is entirely true. So, as a note for the future if they are to manage my property, they are going to have to go at least two references back - not just the current. Because how could they get a stellar review from their last landlord and yet we've already got a drunken party with a suspect broken window and the neighbors are already telling me the opposite. 

    He did say there were three people living there and all three filled out an application and were approved. He said he personally went there to talk to them today and the tenants are sticking with their story that they simply opened the door and the window fell out. Even my property manager said that story though possible is sketchy at best. They claim the wood around the window was loose and they denoted it on the move in inspection. My property manager said he didn't recall that on the inspection but would check, inspect the pictures and let me know. He said it's a sticky situation as to who would pay for it because of their insistence that it's what happened. I am probably going to have to replace the entire door. The door that is in there is an antique that was hand refinished with the window reglazed.

    When I asked if he had met them personally and thought they would be good tenants, he said he only met them at the lease signing and didn't think they were off, but no one in their right mind is going to show up with their shirts off and looking bad to a lease signing. The fact he said "show up with their shirts off" tipped me off because a neighbor said that's how they normally walk around, and so I wonder if that's what the property manager saw when he went there today. I said well ok, you met them today, what did you think - they will be OK or we have a problem on our hands? He said well he couldn't judge by appearances so he wouldn't really want to say; I agree you can't always tell but many times you can. The fact he didn't say they looked like upstanding citizens bothers me too because if he sensed that he would have said so. 

    Maybe the neighbors are wrong about them, this wild party never happened and the window did just "fall out" when they opened the door. I also heard from another neighbor that the cops were called due to weekend disturbance after they moved in but I haven't verified it was these tenants causing the disruption. So I've got my doubts but I am not sure what can be done at this point. But my property manager said we're on the same page and that he is suspicious and though they check people as best they can some do slip through the cracks. 

    So, he is going to keep an eye out, and he said if we need to get them out they would. They have a tenant guarantee that if the tenants move out or are evicted before the lease is up they don't charge another placement/finding fee. I said I am less concerned about that than I am about the place being torn up, because I was considering selling in a 1031 exchange sometime in the near future. He said they manage a few hundred properties so they aren't going to make their jobs any harder either by signing up the first people that come along. I see his point but ... 

  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    8y

    Keep in mind your neighbors could be exaggerating the entire situation. Trust, but verify.

    Also remember that tenants can show up squeaky clean on paper and still be awful. This happens quite often with young tenants or people recently divorced.

    The Property Manager should be able to show you most information in the office. They are not allowed to share the credit report because that is a violation of the law, period. They should have no problem sharing the original application with certain information retracted (date of birth, social, driver's license, etc.)

    I use a screening score sheet. If an owner wants to check my work, I share the score sheet so they can see where the tenant scored with Landlord references, length of employment, rent:income ratio, credit score, etc.

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  • SFR Investor · South Bend, IN · Member since 2013 · 342 posts · 56 votes
    8y

    The property manager told me they passed all their checks - although the reference was the current landlord as I mentioned. I get that neighbors can exaggerate - but multiple neighbors saying similar things that I talked to separately/at different times? 

    I like your score sheet idea. Sure the neighbors could be off but now I've got a front door to replace and lol we are in week 1. The neighbors have my number. I guess I am going to have to see what pans out at this point. 

  • Investor · Chicago, IL · Member since 2016 · 1k+ posts · 930 votes
    8y

    YOU can view ALL the paperwork associated with YOUR tenant, including background checks, check stubs, bank statements, etc. It's YOUR property!

  • Investor · Chicago, IL · Member since 2016 · 1k+ posts · 930 votes
    8y

    @Nathan Gesner, why is it illegal to see your tenants credit report? The PM is simply an agent for the owner. I think the owner has every right to see every document provided by the tenant.

  • Investor · Chicago, IL · Member since 2016 · 1k+ posts · 930 votes
    8y

    Even if you go with a previous landlord, they can give you the number to one of their friends (if it's a private owner). If it was a managed property then you have a better chance of getting an honest review from a previous landlord.

  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    8y

    @Ray Harrell you need to study the law. It is illegal to share the credit report with anyone. Here's a statement you will likely find on every credit/criminal background check:

    Just because the Landlord hires someone as the agent doesn't change anything. Even if the Landlord pays for the credit report, it doesn't change anything. The Landlord designated the Property Manager to screen the tenant, so it is the Property Manager that has permission to access the information. The data does not belong to the Landlord, period.

    Even if the Tenant gives written consent, the Property Manager cannot share the data. Why? Because FCRA specifically forbids someone from waiving their rights to protect the information.

    There are some very limited exceptions. If served a proper subpoena for the document, it can be released. If you are seeking legal advice involving the tenant, you can let your attorney see the document. Otherwise, keep that information under lock and key.

    If you - the Landlord - want to see all their information then you need to handle screening. You also need to protect that information to ensure compliance with FCRA.

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    8y

    Since we're on the topic, I would also recommend everyone learn what "adverse action" is and the responsibilities you have as a landlord or property manager, especially if you're in a more litigious state with professional tenants that like to screw over Landlords.

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  • Bremerton, WA · Member since 2018 · 49 posts · 35 votes
    8y

    Out of state properties always have higher risks because you normally have to hire a property manager who's main interest is collecting their commission. Although in theory they are protecting your interests, the reality is they sometimes cut corners to get a tenant, sometimes MARGINAL tenants, into your rental!

    I had one PM who tried to convince me to approve a certain tenant for one of my rentals. The applicant had a spotty credit report, and her income-to-debt ration was very low. When I told the PM no, she badgered me about how this poor applicant really needed a place to stay...she had little kids...she was supposed to get a  big promotion soon, yadda, yadda, yadda. Needless to day, that PM was replaced pronto! 

    If you are just starting out with rentals, I recommend you stay local and manage your own properties. Once you acquire a larger portfolio, then perhaps you should consider non-local rentals, but at the cost of hiring a great PM.

  • SFR Investor · South Bend, IN · Member since 2013 · 342 posts · 56 votes
    8y
    Originally posted by @Gary Floring:

    Out of state properties always have higher risks because you normally have to hire a property manager who's main interest is collecting their commission. Although in theory they are protecting your interests, the reality is they sometimes cut corners to get a tenant, sometimes MARGINAL tenants, into your rental!

    I had one PM who tried to convince me to approve a certain tenant for one of my rentals. The applicant had a spotty credit report, and her income-to-debt ration was very low. When I told the PM no, she badgered me about how this poor applicant really needed a place to stay...she had little kids...she was supposed to get a  big promotion soon, yadda, yadda, yadda. Needless to day, that PM was replaced pronto! 

    If you are just starting out with rentals, I recommend you stay local and manage your own properties. Once you acquire a larger portfolio, then perhaps you should consider non-local rentals, but at the cost of hiring a great PM.

    Thanks Gary. No, I’m not new to rentals and have managed out of state for years, but this particular property manager is new to me. I think in most cases it’s better to have rentals local to where the owner is located frankly for logistics, but that’s not always optimal in other ways.

    That’s why I make periodic in-person checks to my rentals instead of just relying on the property manager. It does add to costs but I have discovered properties that look a mess - and the property manager is shocked when I say I was at the house at 123 Main Street today, and saw that X, Y and Z are totally unacceptable - correct this immediately. Not only does this solve a lot of problems, the manager knows that 1) you care about the property and don’t want it to rot away and 2) they can’t ignore that house, because you are checking ... pretty much after the first time doing that the rentals look pretty good lol. 

    Sometimes it’s a misunderstanding about what you want because there are owners that see rentals as cash cows and don’t care if they fall down and others who care about the upkeep and tenant quality affecting the neighborhood. 

    I’ve honestly yet to find a perfect property manager, they each have their + and -.

  • Investor · Chicago, IL · Member since 2016 · 1k+ posts · 930 votes
    8y

    @Nathan Gesner, so when a bank loan officer pulls my credit report and shares that report with the underwriter, are they breaking the law? Maybe you're an attorney, but I think that report can be shared with any interested parties in that transaction. Otherwise several people would have to pull separate reports.

    I agree, it's illegal and immoral to just share it with random people, but if the review is required to complete a transaction, I am pretty sure that that single report can be shared with people involved in the transaction. I'm going to check into this. I don't check credit so it's not an issue for me.

  • SFR Investor · South Bend, IN · Member since 2013 · 342 posts · 56 votes
    8y

    Re: The credit report, I had read this if it helps: http://www.excalhomes.com/excalibur_home_managemen...

    But I think it also depends on the wording of the application, if it states who/the owner etc may be allowed to view it. The last person who showed potential tenants this property before these managers, would gather their information, and if they met certain basic criteria, would then show me their information and I would make the final decision. Frankly this was more work but perhaps it is better this way, the tenants I selected stayed for five years, and I knew their information going in. 

    I have another property manager who just tells me about them with his opinion, and I make the final decision based on that. The latter hybrid way is probably the best because you don't have to review everything but you have information and control. 

    These people in question were just put in based on the property managers discretion alone, and now I'm not so sure that's a great thing. 

  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    8y

    FCRA specifically forbids you from sharing a report with others. Even if the Tenant gives you written permission to share it with the Owner, that is a violation of FCRA. Instead of beating a dead horse, read this article written by an attorney and then do whatever you want.

    @Ray Harrell you're confused. The loan officer and underwriter are involved in the same transaction and the are actually seen as one entity. My leasing agent pulls the credit report and then can share it with me, the Property Manager, because we are essentially fulfilling the same role. Some are claiming the Landlord can also be involved in that process but that's not what the law says because the Landlord has hired the Manager as the agent and the Manager (or his office) is now considered the "end user" responsible for the information.

    Besides, it's just bad practice for a Landlord to be involved in the screening process but that's for another conversation.

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  • SFR Investor · South Bend, IN · Member since 2013 · 342 posts · 56 votes
    8y

    I again still think it depends on the wording and the relationship such as the loan officer and underwriter. In the former case I was talking about, the person showing that particular property was a real estate agent and a screener, and I was the one selecting the tenants. So we were jointly involved in the selection of the tenants, I was not hiring him to exclusively do so nor was there any such wording in his services to me. He was also not managing the property, just showing it and helping me select tenants, as after the tenant was selected it would then be turned over to the property manager to sign the lease and manage them long-term.

    If you are referring to a landlord as the property owner, and it's a bad idea for them to be involved in the screening process, I disagree, but that's another issue. What if the person owns the house, selects the tenants and manages the properties themselves? Should they hire someone else to stay out of the screening process? Lol. 

    If anyone has any questions about this they should really contact their own lawyer in the state in question. 

  • Bremerton, WA · Member since 2018 · 49 posts · 35 votes
    8y

    Nathan G is correct on the fact the law prohibits the sharing of a credit report with other parties, even those who have a stake in the process (the landlord). In fact, I have had mortgage lenders and auto loan finance departments tell me that they cannot legally share with me MY own actual credit report even though I paid for it when applying for credit!!! They will, however, provide me with my FICO score, but not the credit report itself. Ironic, isn't it? 

    Maybe its a scam by the major credit bureaus to make money each and every time a credit report is pulled. If everyone in the screening or underwriting process started sharing reports, the credit bureaus would lose out on credit report fees.

  • Investor · Chicago, IL · Member since 2016 · 1k+ posts · 930 votes
    8y

    "Joint User" Rule. The Federal Trade Commission (FTC) staff commentary discusses another exception known as the "Joint User Rule." Under this exception, users of consumer reports, including financial institutions, may share information if they are jointly involved in the decision to approve a consumer's request for a product or service, provided that each has a permissible purpose to obtain a consumer report on the individual. For example, a consumer applies for a mortgage loan that will have a high loan-to-value ratio, and thus the lender will require private mortgage insurance (PMI) in order to approve the application. An outside company provides the PMI. The lender and the PMI company can share consumer report information about the consumer because both entities have permissible purposes to obtain the information and both are jointly involved in the decision to grant the products to the consumer.

  • Mike CumbieBusiness Member
    REALTOR® · Brockport, NY · Member since 2015 · 3k+ posts · 4k+ votes
    8y

    @Amie D.

    "I have another property manager who just tells me about them with his opinion, and I make the final decision based on that. The latter hybrid way is probably the best because you don't have to review everything but you have information and control. These people in question were just put in based on the property managers discretion alone, and now I'm not so sure that's a great thing."

    In my opinion you need to find a property manager who you trust or you need to manage the aspect of choosing which tenants will be placed. Things in a business need to be clear cut and responsibilities have to be black and white. In this case you have somebody performing a task for you who you trust less than a neighbor who you have never met. If you are going to micromanage it (and there is nothing wrong with that, if it's your business model), then having a property manager do the work first is a waste of time, resources and money. 

    What's the value at this point? The tenant currently has possession of the property and a lease. You can't get rid of them until they actually do something in violation of their lease. Are you now going to be personally watching that property from afar? I would guess not, so now you have to trust that property manager to watch it or find one you do trust. 

    Just my 2 cents and good luck!

  • Investor · Chicago, IL · Member since 2016 · 1k+ posts · 930 votes
    8y

    Get it from the source. You can indeed view the credit report as you are jointly involved with approving credit to extend a service (rental property) to a prospective tenant. To CYA, I would have as part of your agreement with the PM that in some cases you will jointly approve tenants.

    https://www.cfpaguide.com/portalresource/Exam%20Manual%20v%202%20-%20FCRA.pdf

  • SFR Investor · South Bend, IN · Member since 2013 · 342 posts · 56 votes
    8y

    @Mike Cumbie, LOL, I used to live in this particular property so I am friends with all the neighbors there. Conversely, this is the first time I have used with this property manager. So, I know all the neighbors better and for a longer time than I have known this property manager. They already have my phone number in case there are any oddities as well.

    I always talk to the neighbors anyway, about rentals and for new properties I am considering acquiring. Who is going to know what is going on better, someone who has only seen these people's credit report and shown them around for a half hour or people who are actually LIVING on the street day in and day out? When I drive up to a property I own and the front door window is bashed in and there's a series of junk cars in the driveway, I am going to have questions from the people actually LIVING there about what is going on, and with interests in keeping their neighborhood decent, versus a property manger who may send someone by for an inspection in six months or a year when they move out.  The property manager did come out after the fact, but then could only get the story from the tenants. And what are the tenants going to say? Well, they said, "We just opened the door and the window fell out." LOL.

    I am pretty hands off with managers I have used a while, but in this particular situation I want to know wth is going on. 

    The value at this point is not having tenants who have started out with questionable circumstances, i.e. a loud drunken party with a busted front window, damage the property further.  Sure, I suppose the window could have fallen out by itself, and multiple neighbors imagined a loud drunken party that never happened that night. Buuuuut...  I'd rather hear what's going on from the source before the fact than down the line when they move out and property may have many more expensive damages. 

    Normally, nobody calls me or the property manager and I can go a long time without worrying about it. However this case has been a bit different than the norm.

  • Mike CumbieBusiness Member
    REALTOR® · Brockport, NY · Member since 2015 · 3k+ posts · 4k+ votes
    8y

    DISCLAIMER: No legal advice, just the mindless ramblings of some dolt in the internet.

    @Amie D.

    It is your property and you are welcome to treat it as you like. However nothing you wrote changes the facts

    1) You are paying someone to perform tasks you are doing yourself (Paying a kid to cut the grass and then deciding you want it at an angle so doing it yourself).

    2) You have a personal attachment to your investment with a value more than money

    3) Your tenants are legal tenants and are in possession of the property and have "A right to quiet enjoyment" of the house.

    4) Your neighbors can call you 50 times a day and there is zero you can do, without having specific things to write up for lease violations. (Which is what you pay a property manager to do for you). 

    5) You are out of state

    6) If you fly/drive over for eviction court (Which in reality is the next step) You can state over and over how "The neighbor Lisa said that..." and without Police reports they are going to be thrown out and still living in your property until they decide to leave.

    7) Loud parties without the police being involved are not in any way a violation of their lease (Unless you have written something in that says, "Neighbors complaining are a violation and I will trust their words more than your right to the property). Which may have a difference on which state your property is in. 

    8) You can make a million people say the words "Loud drunken party" until they pass out and unless there is a police report or something you can stick in front of a judge you are wasting your time (from a management perspective). 

    9) If you don't want to just have a property manager "just inspect "every 6 months" then do it yourself as many times as you want to make the trip. Pay for the ticket.... or pay a property manager to do it like the kid cutting the lawn. 

    There are property rights involved. When you signed a lease you transferred some of them over to someone else. You are welcome to talk to the neighbors, the grocer, the local mailman, the 2 kids running the lemonade stand, the guys repairing the roads, the stoned high school kids 5 doors down, the pilot who flies a plane over on the daily flight to Salt Lake city or even the president of the local avian viewers club. Anything they say is "hearsay" 

    You are welcome to laugh and manage your properties anyway you want. This is just my 2 cents. Best of luck in your property.

  • SFR Investor · South Bend, IN · Member since 2013 · 342 posts · 56 votes
    8y
    Originally posted by @Mike Cumbie:

    DISCLAIMER: No legal advice, just the mindless ramblings of some dolt in the internet.

    @Amie D.

    It is your property and you are welcome to treat it as you like. However nothing you wrote changes the facts

    1) You are paying someone to perform tasks you are doing yourself (Paying a kid to cut the grass and then deciding you want it at an angle so doing it yourself).

    2) You have a personal attachment to your investment with a value more than money

    3) Your tenants are legal tenants and are in possession of the property and have "A right to quiet enjoyment" of the house.

    4) Your neighbors can call you 50 times a day and there is zero you can do, without having specific things to write up for lease violations. (Which is what you pay a property manager to do for you). 

    5) You are out of state

    6) If you fly/drive over for eviction court (Which in reality is the next step) You can state over and over how "The neighbor Lisa said that..." and without Police reports they are going to be thrown out and still living in your property until they decide to leave.

    7) Loud parties without the police being involved are not in any way a violation of their lease (Unless you have written something in that says, "Neighbors complaining are a violation and I will trust their words more than your right to the property). Which may have a difference on which state your property is in. 

    8) You can make a million people say the words "Loud drunken party" until they pass out and unless there is a police report or something you can stick in front of a judge you are wasting your time (from a management perspective). 

    9) If you don't want to just have a property manager "just inspect "every 6 months" then do it yourself as many times as you want to make the trip. Pay for the ticket.... or pay a property manager to do it like the kid cutting the lawn. 

    There are property rights involved. When you signed a lease you transferred some of them over to someone else. You are welcome to talk to the neighbors, the grocer, the local mailman, the 2 kids running the lemonade stand, the guys repairing the roads, the stoned high school kids 5 doors down, the pilot who flies a plane over on the daily flight to Salt Lake city or even the president of the local avian viewers club. Anything they say is "hearsay" 

    You are welcome to laugh and manage your properties anyway you want. This is just my 2 cents. Best of luck in your property.

    @Mike Cumbie, if both the new property manager you just hired and the tenants they found are showing red flags and you’d blow it off and say “meh, whatever” and not check on your properties ever - plus ignore an easy resource to find out what’s really going on - different business model I suppose...

    While I’m happy you seem to have found every property manager you’ve ever used fantastic - I and other BP posters have not had that experience. Good luck to you!

    Oops:

    “Be aware that even with a property management company on your payroll, you'll still need to make occasional visits to your property to make sure that what managers and tenants tell you matches reality. This is an additional time and money cost that must be considered.”

  • Investor · Chicago, IL · Member since 2016 · 1k+ posts · 930 votes
    8y

    @Nathan Gesner, the owner is ALWAYS part of the process, because s/he is the one providing the actual service. The agent or PM doesn't have the ultimate say on the rental criteria. The owner does. The agent acts "on behalf of" not "in place of". That's why PMs have to get permission to do certain things. That's why you have the manage the PM company.

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