All Forum Posts by: Account Closed

Does anyone have a canned response that they use to reply to tenant inquiries or do you speak to them personally? Aren't you basically asking them the questions on the application like how many people are going to live in the house? Why are you moving? Do you meet the minimum income requirements? etc.... 

Do you make them pay the fee for the application before showing it to them? I'm using Avail and it's $55 to process the application. 

I have an applicant who is inquiring if I can do a credit report check using their SS# instead of them applying for one 

are you aware of any way to do so 

This Arthur is just copying and pasting or rephrasing every reply he has to market Az.ibo

@Kobe McDaniel a lot of them are listed and  you will need to just demo them if you plan to self-manage. Right now, I have my clients on Buildium. 

Hi All,

I have a tenant who says her daughter, her daughter's husband, their 3 small children, and 2 small dogs need a place to stay while looking to buy a home. She says it may be 1 to 2 months. Can I legally charge them additional rent and deposit? EG - $500 refundable dog deposit for each dog and an extra $500/month for the family to stay at the house?

Thanks in advance for everyone's help!

Best,

Michael

Hi all,

My first time land lording without a partner, what software does everyone use to make applying/ and managing tenants easier?

5 day notice was given to tenant by processor , on this Saturday. Tenant paid the March rent on Sunday.
I want to refuse rent from April onwards to make him a holdover tenant.. Will I need to notify Tenant, that rent starting April will be refused because the lease ends on March 31, 2023?  Since he pays by Zelle, I have two options of not accepting rent. Please tell me which option do you recommend.

1. I can change my Zelle profile information i.e.,my phone number and email address listed in Zelle and used by all tenants to send rent. Then I will notify changed Zelle profile phone number/email address to all other tenants except this tenant. That way he cannot pay while others can.
2. I keep my Zelle information to be the same. If tenant still sends April rent by Zelle despite of telling him that rent will not be accepted starting April, I can refund his future rent money to him by Zelle the same way that he sends rent to me. This option helps me more because I donot have to notify other tenants (about 20 of them.)
I am willing and happy to take any of these two options so that he becomes a holdover tenant and can be evicted.

Zelle has no option to block one particular tenant from paying rent.

Please advise on this.

Thanks

I have 5 showings this weekend for prospective tenants for a condo I own.  I used Zillow Rental Manager to list it.  Seems pretty easy to use.  But I am reading mixed reviews on Zillow's background check.  What is best practice for screening and verifying income?  Should I be handing the prospect an actual printed application to sign to is it better to do everything electronically and do through a third party?  Is the Zillow Rental Manager lease agreement an acceptable document to use once I approve someone? This will be my only rental for a while so I'd like to keep it as simple as possible.

I moved from our rental in Feb. i rented for 7 years.   I paid a $1400 deposit along with a $500 refundable pet deposit.   
Before leaving, I notified my landlord in writing that there was a door sticking, slow leaking faucet and a garage door issue.   She never came or acknowledged this letter.   I thoroughly cleaned the unit and took many pictures. 

She is now sending me a bill that she is keeping my $1400 deposit due to a thermostat issue, door knob replacement and window damage.  And, now all of a sudden, she is keeping my pet deposit stating it is now non-refundable with absolutely no pet damage.  

The window is from water damage as the window takes on water and I called her during a rain storm to let her know.  They never came to see the windows.  She is billing me an additional $1400 for repairs.   And some of the billing is not for anything she is accusing me of.  She is also not counting the $500 refundable pet deposit.  She’s giving me 2 weeks to pay or suing me!

I don’t know what to do but feel most of these things I didn’t do and have pictures to prove I left the place in excellent condition.  

Would love any advice.  

This hopeful 35 y.o. tenant paid to run a Rentprep report, the full one, and it turns out he has $84,000 in debt that he didnt mention on his original application. Rentprep said he has balance overlimit on a bankcard account plus bankcard account balances too high in proportion to credit limits, and not enough available credit. However he pays all the bills on time according to the Rentprep report.  I'm waiting to hear from Rentprep to verify the report info. I dont know what they mean by "tradelines"--he has 14 of these. A health club bill is in collection, and many of his accounts have been closed, with 0 balances.

Applicant started a business in Jan. 2022 and his gross on the 2022 tax return was $52K. He doesn't qualify for the rental, wife not working and 3 little kidz, so the father in law is moving in with them, but "Dad" is in the middle of a Calif. divorce and although he has 3 -401K accounts, will be getting SS, and has a pension from PG&E, it's not clear what the judge will rule he has to pay the wife. 

"Dad" didnt list this daughter on his tax return, (listed 3 other daughters), but she listed him on her app as her father and said he's going to be paying half the rent. He can certainly afford it but what if he decides to reconcile and move out????? Leaving the son in law to figure out how to pay the rent and all his debt? With no borrowing power? I've had multi-generational tenant families before with no problem that I know of, but I know the daughter is gonna brag about her new house to those 3 sisters, and how "Dad" is paying and living with them ... 

Should I move on? I'm not good at analyzing all this data. On the other hand I would dearly love to get this one squared away.

I was very specific about which tax forms to submit and had to ask 2 times, after I got help from my CPA about which ones to ask for. Other self-employed tenants have made it very simple to understand their finances, but they were making quite a bit more $$.

As always, thanks so much for your advice!

Hi everyone, 

Starting out on my investment journey and I have been learning a ton and enjoying the process. 

I was curious how you all stay organized? What programs, applications, or software do you use to keep track of all of the data and information around your investment properties?

As I start out, I want to stay as organized as possible and I am sure some of you have systems in place or apps that you use to help keep it all together. Would love to hear your suggestions. 

Thank you, 

Nelson