Ready to List my first rental property, much I don't know!

Ready to List my first rental property, much I don't know!

Rental Property Investor · Findlay, OH · Member since 2019 · 16 posts · 6 votes

Has anyone used the application and background check feature Zillow.com offers? If so, feedback? If you do not use that, what is the best way to send and receive the applications and fees from potential tenants? Zillow also offers an online rent payment feature. Anyone have any feedback? Thanks in advance!!!

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Real Estate Broker · Indianapolis, IN · Member since 2014 · 3k+ posts · 2k+ votes
7y

@Cindy Craft I would not use Zillow for property management. 

We use Rently which handles the showing/background/credit check. We still call and verify info and references. ESPECIALLY previous landlords. 

We use Rent Manager for our accounting which allows online rent payment through Paylease. 

This may be a bit "robust" though for just one unit. 

TransUnion has a tool called "my smartmove" that we've had good luck with. I would also always search the person on your local casenet to make sure your tool doesn't miss anything. **Make sure you spell their name how it's spelled legally!**

Some lighter PM softwares are Appfolio & Buildium. 

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  • Real Estate Broker · Indianapolis, IN · Member since 2014 · 3k+ posts · 2k+ votes
    7y

    @Cindy Craft I would not use Zillow for property management. 

    We use Rently which handles the showing/background/credit check. We still call and verify info and references. ESPECIALLY previous landlords. 

    We use Rent Manager for our accounting which allows online rent payment through Paylease. 

    This may be a bit "robust" though for just one unit. 

    TransUnion has a tool called "my smartmove" that we've had good luck with. I would also always search the person on your local casenet to make sure your tool doesn't miss anything. **Make sure you spell their name how it's spelled legally!**

    Some lighter PM softwares are Appfolio & Buildium. 

  • Rental Property Investor · Findlay, OH · Member since 2019 · 16 posts · 6 votes
    7y

    Thank you! I will check those out and see what works best for us. I am extremely excited about this venture, but I want to ensure we do everything we can to cover our bases. I will absolutely be calling and verifying each reference. 

    Is there any particular reason you suggest not using Zillow.com's property management features? Either way, I will heed your advice and check out the programs you suggested!

  • Denver, CO · Member since 2018 · 48 posts · 20 votes
    7y

    Hi @Cindy Craft,

    Congratulations and good for you for being proactive and doing research on what you can do to cover your bases before allowing a tenant into your property.

    If you have any questions about tenant screening, I am happy to help!

    Sincerely,

    Sam 

  • Rental Property Investor · Long Island City, NY · Member since 2018 · 82 posts · 18 votes
    7y

    @Cindy Craft

    I have used Rentprep and Smartmove. They were good.

    I am not sure if there is any difference among the products. Pricing is different tho.

    This is a good list of tenant screening software.

    Maybe you can check it out.

    https://fitsmallbusiness.com/best-tenant-screening-services/

    Some property management software has the feature too. Maybe you should check those out as well.

    Good luck!

  • Investor · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
    7y

    since no one has mentioned it yet, I use Cozy for applications and rent collection. It’s easy and works great. And it’s free to both landlords and tenants. (Credit and background checks the applicant pays for).

    I’d check it out. They make it easy!

  • Rental Property Investor · Bethlehem, PA · Member since 2017 · 59 posts · 22 votes
    7y

    @Cindy Skinner congrats !! I’m actually in the same boat closing on my first investment property in June. I’ve researched many property management tools and Avail.com seems like the one I will be using. Very similar to cozy as it allows online background and credit checks with the feature to collect rent through the site but avail also offers a customizable state specific lease with the ability to digitally sign! Check it out !

  • Los Angeles, CA · Member since 2019 · 512 posts · 301 votes
    7y

    @Cindy Skinner don’t use Zillow for managing properties

    Trust us

  • Investor · Buffalo, NY · Member since 2016 · 74 posts · 29 votes
    7y

    @Hideyuki Gojima thank you for the RentPrep shoutout! We appreciate it.

  • Fort Collins, CO · Member since 2019 · 185 posts · 61 votes
    7y

    @Cindy Craft Hi Cindy! Congrats on your first rental property - you've come to the right place with questions. Tenant applications and screening are a must so it's good you're thinking about it! I would recommend visiting the tools tab on Bigger Pockets above, then under services, click on landlord resources - there will be some good software/app options for you to use. Here is the link as well! Best of luck!

  • Rental Property Investor · Findlay, OH · Member since 2019 · 16 posts · 6 votes
    7y

    Thank you so much for all of the feedback!!! I have decided against using the Zillow feature, have not any any positive feedback on that. I had read about Tellus in another of these forums and created an account in there. I do not have tenants yet, as I just made the listing active today. But, it appears that Tellus is user-friendly and has the basic tools I need. I will also check out RentPrep and Cozy, as I have seen these mentioned multiple times in different forums. 

  • Rental Property Investor · Findlay, OH · Member since 2019 · 16 posts · 6 votes
    7y

    I have decided to use an application and website (tenantbackgroundsearch.com) that a successful local business owner uses for his home rental properties. I wound up with WAY more interest than I expected on this property. I have managed to call and prescreen 90% of the people who have shown interest, and have created a blanket email containing my rental criteria and the application and am charging a $35 application fee. I have also set up two open house viewings, and have encouraged the potential tenants to fill out the application prior and hand it in and pay the day of the viewing if they decide they like the property. 

    My question is what form of payment should I allow and accept for the application fees? If I know that someone does not/will not qualify based on what they've told me, should I discourage them from filling out an application? 

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