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All Forum Posts by: Jeff Gates

Jeff Gates has started 23 posts and replied 479 times.

Post: Property Management Automation

Jeff GatesPosted
  • Investor
  • Cathedral City, CA
  • Posts 481
  • Votes 170

IMO: Hire a manager while you are away. Too many things can't be dealt with from that distance.

Post: Lots of Potential Applicants: How should I accept applications?

Jeff GatesPosted
  • Investor
  • Cathedral City, CA
  • Posts 481
  • Votes 170

You need software to help you, as 50 applicants requires a funnel workflow solution. 

Just a note: Be careful how you turn down applicants. Read about the laws first!

Post: Do I have to rent to roommates?

Jeff GatesPosted
  • Investor
  • Cathedral City, CA
  • Posts 481
  • Votes 170

Any contract with roommates can cause you significant pain, when a eviction is looming. The only safe contract is with one person, who has the right to sublease with strict guidelines. 

Post: Move out inspection

Jeff GatesPosted
  • Investor
  • Cathedral City, CA
  • Posts 481
  • Votes 170
Originally posted by @Eric G.:

The answer to your question is yes. You can do almost anything within reason if the tenant agrees to it upfront in the lease and signs off on it. If it wasn't agreed to upfront I don't recommend charging. 

 Great answer, thank-you!

Post: Move out inspection

Jeff GatesPosted
  • Investor
  • Cathedral City, CA
  • Posts 481
  • Votes 170

Can the tenant be charged for this?

Post: Property Management Software

Jeff GatesPosted
  • Investor
  • Cathedral City, CA
  • Posts 481
  • Votes 170
Originally posted by @Roger Laughary:

Correct. It can account for things it just doesn't run professional reports like financial statements,

etc like some of the more in depth pay services. It's very basic overall.

 Thanks for the confirmation. Without full accounting, most of these programs require so much data entry that the effort becomes very redundant. You should add your data once and get the full benefit end to end of this:

Rent Cycle

  • Balance your books with full general ledger accounting
  • Download reports on-demand
  • Track charges and payments
  • Collect payment online

Vacancy Cycle

  • Free marketing website
  • Syndicate rental listings
  • Receive rental applications online
  • Run credit and background checks

Maintenance Cycle

  • Tenant access to responsive mobile site
  • Submit work orders electronically
  • Attached photos and documents to requests
  • Efficient reporting

Post: Do you rent to the tenants whom have no bank account?

Jeff GatesPosted
  • Investor
  • Cathedral City, CA
  • Posts 481
  • Votes 170

How many tenants have no bank account?

Post: Move out inspection

Jeff GatesPosted
  • Investor
  • Cathedral City, CA
  • Posts 481
  • Votes 170

Can the tenant be charged for this?

I know the landlord must supply a list of deductions from a deposit.

However the move out inspection is optional, I believe. Any comments?

Can the tenant be charged for this?

Post: Venmo to collect rent payment?

Jeff GatesPosted
  • Investor
  • Cathedral City, CA
  • Posts 481
  • Votes 170

There are very big horror stories. Use google and you will find them. Hacker prey on these peer to peer services. It is possible your bank account will show up empty one morning. 

Post: How to decline a prospective tenant based on credit or income

Jeff GatesPosted
  • Investor
  • Cathedral City, CA
  • Posts 481
  • Votes 170

There is a structure to decline applicants based on the Adverse Action Letter. Most has been discussed here.