All Forum Posts by: Nathan Miller

My preferred method for tenants to pay is via ACH.  It's the same system used by banks to collect mortgage and car payments and it's widely available and super easy to setup for any landlord now.  Not only is it more convenient for the landlord and the tenant, but our data proves it decrease vacancy rates too because you have longer term, happier tenants.

You can always ask their realtor how many failed offers have gone through on the properties already.  Sometimes they will tell you.  If it were me though, I'd just make the offer on what pencils best for you.  If they reject it, no skin off your back.  You can always do another offer slightly higher if you want.

Each side can have a realtor (or not).  Generally the seller's realtor, if they have one, already has a commission (~6%) built into the price of the house that both the buyer's and seller's realtors are paid from.  If you don't have a realtor representing you, you can negotiate the commission as part of the sales price, at least here in Oregon.  NJ may be different.

The added rent for garage access is a great idea.  I imagine it would be a highly sought after upgrade.  I would recommend writing parking instructions into the agreement with both parties though so if there's ever a dispute you have legal grounds.

Niel, that is crazy and unfortunate.  Some renters will care about this sort of thing, others won't.  Sure thing though anybody who moves in there is going to eventually get to know their neighbors and the story of "did you hear what happened in your house" will circulate.  It won't be able to kept secret.

If you do want out, your offer probably has an inspection clause or other outs.  I would discuss that with your realtor.

Hi @Mike R. - I'm sure somebody could make an opposing argument (like @Marc W.), but I would say NO, it is not discriminatory.  You can do electronic (ACH) payments without them having internet access, or knowing anything about the internet.  You can initiate the ACH, so it doesn't require they do anything other than provide you a form and a voided check.

That means, your only qualifying criteria is that they have a checking account.  And today, if somebody can't get a checking account, that's a major red flag I would think to any landlord as they either have so many collections they don't want to set one up, or they are illegal.  Either way, not a good renter.

I think the general rule of thumb is pre-tax, or 2x take-home.  At least in our area.

And yeah, people do the spray-and-pray approach, especially when they aren't very qualified renters.  

Hi @Justin Pumpr, I think it's pretty normal that once they know that you really are going to screen, and that will require a little work for them, they drop off. A lot of inquiries are people that get rejected over and over. I think it's a good idea to broadcast your screening criteria up-front so they don't even email you in the first place. You only want to be spending your time on qualified prospects.

I would however suggest rewording things like "Can I", to "We will".  Asking permission invites a "no" response option and demonstrates hesitation in your process.  

ie...  5.  We will be performing criminal and credit checks on all applicants.  The fee for us to do this is $35.

I wouldn't post dirty pictures if it were me.  I'd just post a listing stating the details of the property, old pictures if you have them, and say it's available on xx/xx/xxxx.  Give yourself time to clean of course.  Ideally once it's cleaned up, you get pictures you can save and reference in the future too should the same issue happen with the next renters.

Unfortunately it's much more difficult to obtain credit and criminal backgrounds on Canadians and other foreigners.  If your policies require verifiable credit and criminal history and it cannot be obtained, I wouldn't think that is discrimination.  But check with your Maryland laws to be sure.

I think there's a Canadian screening company here on BP that might pipe in on how to accomplish this though.  I wish I remembered their name to flag them here.  Anyone recall?