All Forum Posts by: Adam Martin

I don't have experience in CA and rents are much cheaper where I am however I would be cautious going less than 3x unless tenant is able to show considerable reserves.  You are in CA and from my understanding evictions are not easy or cheap.  I would do whatever is standard in your area which you will have to look around for, maybe call on some rental postings and ask.  Remember once they are in it is hard to get them out if they aren't paying and in today's climate and with Covid I would stick to your standards.  If you look around the forum you will see plenty of landlords asking for help getting out of an avoidable situation due to taking shortcuts on screening.    Also don't forget to ask if she is receiving any child support or alimony as I will use this if someone is close but don't like to see this as the primary source of income.  

When I know I have one coming up I check Zillow daily and save every house for rent.  When it is time to list I can go back to that saved list and see what rented for how much and how long it took. While it is not an exact science it works well enough for me and I can get a general idea what homes are moving for.  The way this works best though is you have to do it for a period of time, if the first time you look is when you are posting or right before you only are showing the houses that either just listed or have been there a while, my main goal is to see what is moving.  

I charge a refundable deposit of 600 for tenants with pets however it is lumped in with the security deposit as well as 35/month/dog.  I have thought of keeping 35/month for small dogs but raising large to 50/month since not many properties near me rent to them but we will see how the market looks on my next turn.  My properties rent for between 1550-1750 per month so this is a pretty hefty deposit they have and I want them to take care of the place so they can get it back.  My lease also states if they break early they loose the full security deposit, this includes the pet deposit plus an extra 2 months rent.

I have always used Zillow and Cozy in the past and for my last one used Facebook Marketplace as well.  My area doesn't charge for Zillow yet but even if they did my properties rent for 50+/day.  It seems like I would be shooting myself in the foot not to list on Zillow since that is where all my renters have came from.  I did like Facebook for the fact that I could see their profile but the leads didn't seem to be as good from what I got on Zillow.  I don't think I have ever gotten a lead from Cozy but I post anyway just because the possibility of getting a renter from a few minutes of work is worth it, wouldn't pay for them though.  

On my last house I rented I had an applicant offer a previous report pulled and I let her know that I would accept it under the understanding that if she was accepted we would have to follow up with mine so that everyone is on the same page.  She admitted her credit wasn't good so I didn't think there was any reason to have her and her boyfriend spend $60 when there was a slim chance they would be selected.  I have also used Zillow Rental Manager since it is a soft hit and they can use it for 30 days if the other landlord accepts applications through Zillow. 

As long as the paint really just needs a bit of touchup I wouldn't repaint the whole thing, especially if you are paying someone to do it.  I'm on the Accessible Beige boat as well and people seem to like it.  I just buy it by the 5 gallon bucket and am on my fourth one and will keep buying as long as it is in style.  When styles change I'll just switch to something else, not really that big of a deal.  I like them all to be the same color so I don't have to store a bunch of shades of paint, if that makes me a one trick pony it is what it is I guess.  Pro tip from a buddy I used to buy eggshell which didn't tough up well since the gloss didn't match, switched to flat and you can never tell the difference and saves a lot of time instead of painting the whole wall.  

I'm not sure on your local regulations but I text them thanking them for their interest but let them know I went with a new applicant.  I feel this is a time where less is more.  I usually get either no response or thanks anyway but have not had anyone try to question it.  

I would file asap, I'm assuming you aren't the only one on the block who got hit and you had no way of knowing that a tornado was about to strike.  This may actually work in your favor but I would hurry up and act, the longer you wait the more suspicious I would find it.  

Besides LVP which I'm a big fan of I also will fence in a yard if not done so already. I focus on SFH and allow dogs for an additional 35/month each as well as an extra 600 on the security deposit. In my area houses that allow pets and also have fences tend to rent quicker and for more money, who really wants to take their dog out on a leash in the rain or snow. I had one property where I was debating and had a couple people comment that the home was just what they wanted however they wanted a fence for their dogs. It wasn't getting a lot of action however when I put in the listing a fence was being added things really picked up. It was the first thing I did to my personal home and now the first thing I do on a rental as well.

Depending on finances I would replace the bedrooms with carpet but put down lvp in the basement and living room.  It will last much longer than carpet and people like it.  It will cost more up front though but feel it is worth it in the end.