Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Account Closed

Account Closed has started 11 posts and replied 584 times.

Post: Application Fees

Account ClosedPosted
  • Property Manager
  • Big Bear Lake, CA
  • Posts 585
  • Votes 330

Deborah B. I have tried a few different companies that let people apply on my site. Some let them apply and then directly runs the application. The ones I tried had quirks I didn't like. So, I use RentApp.com. When people apply, I get an e-mail with their complete app. Then I use RentPrep.com to actually do the screening. More steps this way, but it works very nicely for me.

I use Intuit Payment Network to collect app fees, rent, security deposits, by another button on my website.

Hope this helps!

Post: Application Fees

Account ClosedPosted
  • Property Manager
  • Big Bear Lake, CA
  • Posts 585
  • Votes 330

It is not necessary to take an application fee from every applicant. I tell everyone that is interested to apply online on my website. Once I receive the applications, I start with the most qualified and tell them to pay the application fee online.

If that person doesn't pay, or doesn't qualify, then I move on to the next qualified application. Usually one of the first 2 or 3 qualify, so rarely need to move on down the list.

This way I'm only getting fees from people I'm truly interested in.

Post: Property Manager Wants to be Additional Insured or Co-Insured

Account ClosedPosted
  • Property Manager
  • Big Bear Lake, CA
  • Posts 585
  • Votes 330

There may be some confusion as to exactly what additional insured means. Here it is:

Adding another entity as an additional insured on your general liability insurance policy serves to protect that additional party in the event of negligence on your part as the primary policyholder, or “named insured.” It is not the intent of your policy to pick up the liability of another party when you had nothing to do with a claim or occurrence.

Post: Tenants want to counter sue for damage they did not report

Account ClosedPosted
  • Property Manager
  • Big Bear Lake, CA
  • Posts 585
  • Votes 330

Lawyers always start out by sending a letter trying to scare you off. Since your lease states that they have to notify you in writing of problems in the home, ask them to show you proof of that writing.

I would take them to small claims court for the $3000, or whatever the limit is in your state. No lawyers are involved. If they counter sue you, just make sure you have before and after pics of the damage.

Post: erentpayment.com

Account ClosedPosted
  • Property Manager
  • Big Bear Lake, CA
  • Posts 585
  • Votes 330

Priscilla Z Re: IntuitPayment Network: The tenant can pay from their bank account, or you can accept credit card payments. The fee for this is 3.25%, so I stick to bank account payments only. Intuit will give you a limit that you can receive per month, but you can apply to bump it up. The fee is always 50 cents.

Post: erentpayment.com

Account ClosedPosted
  • Property Manager
  • Big Bear Lake, CA
  • Posts 585
  • Votes 330

I used to use erentpayment and it worked fine, but I understand your concerns. I now use Inuit Payment Network. They are a large company, so no worries about a one man operation. The cost is only .50 per payment. You can even put a link right on your website for people to pay rent, security deposits, app fees, etc. Works great for me.

Post: Tenant Applicants say the dumbest things

Account ClosedPosted
  • Property Manager
  • Big Bear Lake, CA
  • Posts 585
  • Votes 330

Guy shows up to see a rental at 9 am, reeking of marijuana and had bloodshot eyes. Said he worked for a medical marijuana place and gave me some guy's cell number as an employer reference. Said his last landlord died recently so there was no one to call.

Told me all about the large vegetable garden he wanted to grow in the backyard. Vegetables, yeah right.

Um...no.

Post: Tenant wants to build fence

Account ClosedPosted
  • Property Manager
  • Big Bear Lake, CA
  • Posts 585
  • Votes 330

I think Matt Devincenzo came up with the best solution. This way you deal directly with a licensed, insured company, instead of trying to cover all the problems you might have by letting the tenant take care of it.

Post: What Is Your Best Landlording Tip?

Account ClosedPosted
  • Property Manager
  • Big Bear Lake, CA
  • Posts 585
  • Votes 330

Be kind, but firm. Tenants will walk all over you if you let them.

Post: Early Termination situation

Account ClosedPosted
  • Property Manager
  • Big Bear Lake, CA
  • Posts 585
  • Votes 330

I think it's too much. As long as he is paying till you get a new tenant, that is great. It is not often someone will do that. I would hang onto his security deposit until the new tenant moves in. That way, if he can't pay rent in 2 places, you have his security deposit to fall back on.