All Forum Posts by: Mary Joe

I am in the process of screening my next tenant based on application forms and proof of funds (bank statements) submitted. I am not charging them a fee, and I have NOT started credit/background check yet.

I understand that if I have generated credit reports on the applicants, then I will need to comply with FCRA requirement and issue Adverse Action letter to the applicant. But I haven't gotten that far yet.

How do I politely reject some of the applicants?

Can I simply say I have decided to go with a more qualified applicant and just leave it like that? Or do i have to provide a reason?

Some of them don't even have enough money on their bank statements for 1st month rent, last month and security deposit, do I need to go into details why I am not processing their application?

Any advice would be appreciated.

Originally posted by @Ty Whitman:

I'm getting ready to rent out my first few rental homes and have been on the fence with the subject of requiring renters to get renters insurance.  It seems like many leases I have looked at require it, but I fear that forcing it on tenants may scare some otherwise good people away.  I also try to put myself in the tenants shoes and I kind of think it feels like an unnecessary demand, when I am already saying "no pets", "no smoking", "no persons in the rental not on the lease", "no parking on the lawn", etc....  

I would really appreciate some of your opinions on the subject.

 You are not scaring good tenants away, you are attracting good tenants.  Those who are good tenants will understand and comply.   

No pets, no smoking etc isn't going to be sufficient.   What if your tenant claims that his belongings were stolen when the exterminators were at the house?  If your tenant has his  own renter's insurance, he can file a claim with his insurance company, otherwise your tenant may come after you, the Landlord.  

You also need an extra layer of 3rd party liability protection so that your tenant's policy will be invoked first before the claimant comes after the landlord.

Renter's insurance is a must have in my opinion, but how to ensure that your tenant will comply  is a totally different story.    

I suppose you can add a clause in the contract that for every month without renter's insurance, you will deduct a certain amount from the security deposit,  although you probably should check with your state to see if that is legal first.

@Steve K. thanks a million :) I didn't know we have to hold down the SHIFT key,

@Dana Whicker no worries, all good :)   

Originally posted by @Derek Lacy:

Correct, every renters policy has liability coverage, most at least $100,000.  Our office actually can work with investors or property managers to put together what I would call "forced-place renters insurance."  Much like if you have a mortgage on a home the mortgage company will place homeowners coverage covering their interest in the home, you can purchase renters insurance on their behalf.  Usually about $10-15 per month (paid on a monthly basis), and you just tack that onto their rent payment.  So if rent is $600 a month, they owe $615.  If they don't like the extra $15, tell them to send you a copy of their renters policy to get into compliance with their lease agreement. 

 Derek, with "forced-place renters insurance", you can have a policy in the renter's name even though the renter never signs or agrees to have the policy?   Does your office deal with properties in FL?  

Originally posted by @Dana Whicker:

Some of our visitors are the best tenants you could ever hope for.  They don't want any trouble, they can't be out on the street, etc.  Some of these fine folks that are here on work visas are highly skilled professionals.  Don't rule anyone out just because they're not a citizen.

You misunderstood my question.  If you read my post again, I asked if Landlord has a RESPONSIBILITY to check for proper ID and visas before renting to overseas students or people who are here on work visa.         I never said I am ruling someone out simply because he/she is not a citizen.   Two very different issues. 

BTW, how do people do the "@poster name" in a post?  I type the @ sign and the poster's account name but the link never appears properly. 

  

It was 3 years ago when I last did a credit+background check using one of those online services.  Don't remember the name off hand.

Wonder what are some of the names of the online credit/background check service providers out there nowadays?   Any one in particular that is popular among members in this community? 

Any advice or recommendation would be appreciated.

Thanks

Is the landlord responsible for checking if the tenant is a legal resident ?  Say if I am renting to someone who is a student from overseas or who is here on a work visa,  is it the landlord's responsibility to check to make sure that the tenant is staying in the country legally with the proper visa?   

normally I only ask for photo ID such as driver's license.  But one applicant is interested in the property but I believe he said he is here under a work visa or something like that. 

Wonder if anyone has come across situations like this. 

THANKS !!

One more question if I may, can the pet security deposit be used for damages NOT specifically attributable to the pet?  Sometimes it may be very difficult to prove that the damage is specifically caused by the pet and nothing else. 

My place is in FL and I checked state laws, couldn't find anything that specifically addresses this. 

thanks

Thanks all for the feedback.   Very helpful.

The applicant only provides a rabies shot and spayed certificate from the vet, is that all that I need as far as papers are concerned? Are there any other certificates or licenses I need to obtain from the applicant for his pet?  

I always give 24-48 hr notice plus I always insist that the tenant be present,  what I am most worried is that the tenant claims some of his possessions were missing after the inspection and blame that on me or the person doing the inspection.