All Forum Posts by: Arthur Banks

@Philip Williams Sweet!

Thanks @Dawn Brenengen I sent a message to you as well.

Thanks all.

@Troy Owen Thanks. I didn't even think about the application fee. We are allowed to charge a fee in IL. I know this from being a tenant myself in the past. How much are you allowed to charge in WI? I'm currently looking for property in Kenosha, Racine and MKE.

I agree with supplying with completed application to save time.  I've found only one company that allows online app's as well as giving the applicant the ability to upload the required documents.

@Nicole A. 

Thanks for the reply. I guess that makes sense. I was trying to figure out the best way since I work a full time j.o.b.  Maybe I can have them complete the application, review it and provide the I.D. and pay stubs when we meet.  Although there is another site that allows the applicant to upload those docs when they complete the application. 

P.S. I sent you a request.  

@Ryan R. 

I did in my original post but the message got removed. I'm not sure if that's why (I revised the original). So I'll PM you.  

When applicants are applying do you require they complete the application first and after you review and wish to proceed, you then request approval to request the credit/background/criminal check? Or do you have the applicant apply and request the credit/background checks at the same time?

I ask because I'm trying to decide between using two different credit check companies. One charges $42 for all checks but has everything "in house" (ability to post online listings on social media sites, craigslist, etc. with an 'Apply Now' button, send e-application, screen request, digital lease, create and send additional documents (add'tl $15), collect rent). The other charges $35 for the checks, but would require doing all those things separately.

It's not a big deal to send the applicant the credit check authorization email separately. But if it's better to have the applicant apply and authorize the check at the same time then why not? I was just wondering about dealing with refunding if someone applied who didn't qualify (not having 3X rent or something).

@Jared K. 

Do you require less than 3X rent for income?

I won't claim to have the correct answer as I'm a fairly new landlord myself.  But I'll tell you I made the mistake of not checking out all parties before and here's what I do now. I look forward to responses from the experts.

I believe total income between both/all parties should equal 3X the rent, with all parties responsible. I can tell you when I was renting, my wife wouldn't qualify at 3X by herself, but together we made much more than as I made 3X by myself.  But you can best believe the landlord put her on the lease as a responsible party anyway.  The background was done on both. 

You would want to run the background on all parties of age. You should want to know as much as you can about all parties living in your unit.   At least I do.  If you're at least 18, will be living in the unit, you will have a background check run.  I think it's more than just making sure the rent is paid.  You want to protect yourself from any criminals, yes?  But I could be wrong.