All Forum Posts by: Mike S.

First things first, you don't let tenants dictate to you their method of payment. I also use CashApp and the tenant pays deposits, app fees, and rent through CashApp or they don't rent at all.  I don't think there is a setup for payment more simple than CashApp.  You need a valid debit card and a valid bank account and if you have that, it takes less than 5 minutes to setup.  "I can't get this to work" is a big red flag and, if it were me, they wouldn't get to the lease signing at that point.

Now that you're stuck with them, yes a bank account can be used.  Previously I've used prefilled deposit slips, and gave them to the tenants to use.  I would create a separate SAVINGS account and not give them your primary account number.  My bank makes it easy and I can create as many accounts online as needed.  My bank allows me to name the accounts and with my last name and the account name, the deposit slip doesn't even need an account number to deposit.

Last, I see someone mentioned a lockbox.  In my state(and many others), if you only provide a lockbox, you assume all risk for theft. To avoid this, you have to provide an alternate method of payment and have the tenant sign a document that informs them that using the lockbox is at their own risk.  So if the money gets stolen (or never deposited and claimed stolen), the tenant is still on the hook.

So, I've got a new tenant and they don't like that an older dishwasher makes a lot of noise.  It works really well and unlike newer washers, really cleans the dishes.  Would you replace with a newer, quieter model?  

Facebook is a step bellow Craiglist.  I don't use either anymore.  I've never had a single qualified applicant.  If you must use it, send each inquiry a prescreening checklist to answer before any further communication.

 Just regular keys and are copiable. Purchasing several locks will give you several sets of extra keys to change the locks to for later tenants as long you don't buy the matched keysets.

Lumber Liquidators has a good selection of LVP and better pricing than just about anywhere.  I like Costco too, but my store rarely has enough in stock when I need it.

CashApp.  Simple, only takes a debit card to sign up, and clears faster than Cozy.   

I raise rents every year.  I've never had a tenant less than 2 years and they average 3-4.  I have one in their seventh year.  If your providing value that matches the rent, there is no reason to fear losing good tenants.

Avadian Credit is THE place for investor friendly lending.  Cindy Sharp goes the extra mile.

We had rodents get into our system and caused the heat pump to remain in emergency heat mode continuously, even when AC was running.

Use petscreening.com to validate a legal service animal or ESA.