All Forum Posts by: Kadia Lawrence

Absolutely agree — the potential is massive.

Right now, I’m exploring a few simple but powerful ways to use AI in real estate investing:

• Property scouting: Using AI + public data to surface areas with high permit activity, low crime, good schools — then overlaying maps to find sweet spots.

• Pricing analysis: Running AI models on list-to-sale ratios, DOM (days on market), and price trends to spot undervalued areas or neighborhoods heating up.

• Quarterly performance check-ins: Feeding financials into AI tools to flag underperformers or cash flow issues before they become a problem.

• Tax and financing optimization: Starting to test AI advisors to suggest tax strategies and compare loan terms — way faster than doing it manually.

I’m also looking into setting up automations that pull in fresh data monthly — AI works best with up-to-date info.

Totally agree — the earlier we learn and integrate, the more of an edge we’ll have. Curious what others are doing too!

So far, 99% of time I see people who have difficult times with tenants, it could have been prevented during the screening process. Never make an exception because frankly, you don't know if they are lying about their situation to cover up a past eviction, etc. I'm not trying to mean, but it's a reality. 

Typically when I have college students as potential tenants, I just have their parents as guarantors. So far it has worked out really well. 

I could make an argument that if you give exceptions that IS discriminatory because you aren't giving exceptions to others.

The disability one is interesting if it is physical and obvious and they are not working. I would consult an attorney on that one but my hunch is they will say that you still vet but not necessarily deny them because of something related to it. 

Quote from @Kadia Lawrence:

To accelerate the entire process, have them apply for a pet for faster approval. Once the pet is approved, they can move in. Then, they can apply for the animal to be categorized as an ESA. Even if it takes a month for approval, it will only cost them the $20 pet application fee and a month of pet rent.

Quote from @Kadia Lawrence:

There are two primary methods:

1. Don't approve the application until the animal application is complete. If it takes three days to screen the animal, then someone else could jump ahead in line and rent the property first.

2. Approve the applicant, but don't let them move the animal onto the property until the animal screening is approved. This is my preferred method, but you have to be prepared to enforce it.

Screening a pet is very fast, assuming the tenant turns in all the documents. Service animal screening typically takes longer because they reach out to the prescribing medical provider to confirm the letter. In my experience with hundreds of applications, the medical provider may take a week or longer to respond and that really holds up the process.

Quote from @Kadia Lawrence:

It depends on your written agreement. I explain the Holding Deposit in the book. My policy is that they forfeit the entire amount. Other landlords choose to withhold a prorated amount if they find a replacement tenant within 30 days of the original lease start date. It's your choice.

Quote from @Kadia Lawrence:

Quote from @Nathan Gesner:

My process: give the applicant 24 hours to pay the deposit. If they don't, then I don't hold the property for them. Holding the deposit shows they're serious. If they back out, you can use the deposit to cover unpaid rent until a replacement tenant is found.

 Hi Nathan. Does that mean you make the deposit non-refundable and convert it to a security deposit if they move in?  Do you charge the entire value of the security deposit as the non-refundable holding fee? Finally, how long do you hold it for them?

 Correct. I actually use a "Holding Deposit" with a one-page Holding Agreement. It says I am taking their money and holding the property with an expected rent start date of X. If they fail to move in, the forfeit the Holding Deposit. If they move in as agreed, the Holding Deposit is converted to a Security Deposit.

My process: give the applicant 24 hours to pay the deposit. If they don't, then I don't hold the property for them. Holding the deposit shows they're serious. If they back out, you can use the deposit to cover unpaid rent until a replacement tenant is found.

Quote from @Kadia Lawrence:

Deposits are refundable. I always charge fees for animals so it's money in my pocket.

I occasionally waive the fee for a fish tank, depending on the quality of renter. A 19-year-old working at McDonalds? I'm charging. A 60-year-old woman with great credit, rental history, and 20 years at the same job? I'll waive the monthly fee.