All Forum Posts by: Mary Joe

Has anyone tried PROSPER as a passive investment for earning interest income?  It sounds like a nice concept, better than earning 0% with my bank.   Also, no tenant headaches. 

Wonder if anyone has tried this before. 

It seems that there is no maximum limit for security deposit in FL, just want to run this by everyone here in case I misinterpreted the language.  Below are some of the links other people have posted re: FL law:

Security Deposit Maximum: No Statute 

http://www.landlordology.com/florida-landlord-tena...

http://www.leg.state.fl.us/statutes/index.cfm?App_...

So I am allowed to accept from a tenant 3, 4, 5 months in security deposit if I am concerned her income may not be sufficient?   And the security deposit can be used for late rent or if she breaks the lease ?

I don't know why I am nervous about taking the money....

Thanks all,  especially love this suggestion  "I have a provision in my applications stating that if my list of pre-qualifications are not met I may choose to offer approval based on increased security deposits, prepayment, etc."  what a great idea.

Hi All

I have a tenant who is self employed and she just started her business, since it is difficult to establish her income, she offers to prepay 3 month  in advance for a 1 year lease.   So she will put down 1st 3 months, last month and 1 month security in order to move in. 

Am I allowed to do that with a tenant? 

I know there are some regulations that say security deposit can be no more than 1 month, but not sure if there are other laws the regulate whether Landlord can accept prepayment of rent in FL. 

Thanks.

@Christopher Leon 

 yes I am doing both,  encrypt files that contain personal data, and also save them on a portable USB drive that I plug into my computer only when I need to access them.  It gives me peace of mind, and I don't mind the hassle.

Thanks all for the feedback !! 

BTW, if ADMIN is reading, I still can't do the  @poster_name thingy, I can do  it properly only if I do not include QUOTE,  once I reply with QUOTE, that thingy breaks.    

@Ariel O. 

 yes I like the idea of encrypting the files.  Thank you. 

@Christopher Leon 

Thanks for the feedback.  What if someone hacks into your computer or the cloud where you store all the personal data and steals the applicants personal information, is having a login password enough of a defense? 

@Steve Babiak 

 Hi Steve,  no, nobody has filed a complaint against me.  I am am asking WHAT IF...

I am not sure how most people do their screening, but I have a pre-screening process when people submit their application form and then followed by an official credit/background check if they pass the pre-screening. 

I am asking about those who are rejected at the pre-screening process based on the application form they submitted, ie: they haven't even made it to the credit/background check yet.   

Do I need to maintain their personal data in case people who are rejected at the pre-screening process files a complaint that I am rejecting them unfairly and without basis?

Again, I am NOT talking about applicants who are rejected because of their credit report .

thanks

Thanks but what about applications that I have received and rejected even before they made it to the credit/background check? I believe FCRA only applies if a credit report has been generated on the applicant.

Hi All, 

I always delete the applicants files and personal info after I have denied the application.  

Would it come back and haunt me one day if someone files a complaint claiming that I unfairly reject his/her application without basis?  Since i no longer have any of the applicant's personal info with me, how am I going to defend my reasoning for rejecting the application? 

But at the same time, I do not feel comfortable holding onto the applicants personal data on my computer. 

What do most landlords do ?

Thanks