how to advertise property and screen tenants without any issues

Question

how to advertise property and screen tenants without any issues.

Any good blog posts or free videos or courses on learning this vital skill of landholding to do my self without facing challenges in future like evictions, bad tenants, late rents etc.

Please advise

Patti Robertson · Answer

What do you mean "without any issues?"  If you are not experienced in tenant screening, I suggest you hire a PM at least for for professional tenant placement.  Screening is an art.  Anyone who counts on just clicking a button and taking the automated response is crazy.  Tenants lie on their applications.  Applicant fraud is at an all-time high. You have to physically look at the paystubs, verify employment, and check the court records for landlord tenant history and any potential garnishments. The screening companies sometimes miss the court records for some reason, and they don't report non-landlord judgments that can cause a garnishment.  For $40 these days an applicant can purchase totally fake paystubs and an employer verification.  Screening is the most important step to successful landlording, now more than ever!  Use an expert until you have enough experience on your own to know the pitfalls.

Kenneth Garrett · Answer

Account Closed

There is no fool proof way to not have issues.  You definitely can reduce issues by screening tenants thoroughly, but there is no perfect system.  I market by using Zillow which links to Trulia and Hot Pads.  Zillow is by far the best mechanism in my area to find tenants.  They now charge $10 a week, it’s definitely worth it.

Screening is another matter.  I self manage and have always done so.  I’ve been pretty fortunate to select quality tenants.  I also invest in C+\B areas.  No D areas.  I use smart move for screening.  You still need to confirm things.  Call employers, past landlords, preferably two landlords ago so you get credible information.  The current landlord might want to get rid of a problem, but listen to them anyway.  I use DTI as one of the criteria to approve tenants.  No greater than 45% of all expenses to income including my rent.  Read Brandon Turners book on rental property investing, read through the posts here and listen to podcast.  There is plenty of information out there.  If your uncomfortable hire a PM.

Paul De Luca · Answer

Before screening your potential renters, I recommend downloading and reviewing the Tenant Screening: Ultimate Guide here on BiggerPockets under the Education Tab > Guides. As far as software goes I would suggest using Cozy.co which is a free property management software that allows you to do a variety of things such as credit and background checks.

Good luck!

how to advertise property and screen tenants without any issues

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