Here is one little tip that you may use to find good renters.
When a renter is applying ask for their current address in their rental packet. With the information of where they live send a freind to the property. Have the freind knock on the door and ask for an address that is not even there. This will give your freind a chance to see inside and let you know how they keep the property.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
I know many will love that idea above.
Keep in mind that you will always want to get last months rent, credit, and employment. This should be the same for any property that you will rent anyway. The basics will still keep you safe but the information above will give you extra help.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Do you have a set of questions that you use to interview potential renters?
Ask the landlord BEFORE the current one. The current one might say anything to get rid of them. But the previous one has no reason to tell anything but the truth.
I found great renters (nice unmarried couple) who had a small dog and a cat. Most condos' HOAs will only allow 1 small pet, but my renters said they'd keep cat inside.
The man's credit wasn't great, but I took a chance on them. I had put an ad in Craig's List. Once you find some potential good fish (try to qualify them on the phone - how many of you, secure job, etc.) have them come meet you. If you have good vibes, then run them under backgroundchecks.org!
Backgroundchecks.org is a menu type of public records. You can search for anything, anytime, and they are reasonably priced. If you want to hire a nanny, for instance, run that person under that website and you can find out about any criminal background. Civil and criminal lawsuits, BKs, military service - you name it!
Good luck!
JennyInMalibu
I ask for the SSN# and have never had an objection. and right where they sign it states "I authorize the verification of the information provided on this form as to my credit, employment and any background information".
This has actually saved me quite a bit of money as typically people spill the beans once they read this, saving me the cost of pulling the information.
Besides the obvious..other application questions..
What type of pets do you have?
Do you smoke in the house?
Have ever been convicted of violating a law, except a traffic violation?
How long are you willing to sign a lease for?
Banking reference (account # and name of bank)..I've actually been able to access information through automated systems by getting this information and their social.
Questions for other landlords..
Do you charge an application fee and if so, how much?
Do you use a paid service for background/credit checks?
If so, besides the one mentioned above, what are some other good ones?
Kate
"Whether you think you can or can't, you are probably right" Henry Ford
Also, ask for a picture ID (driver's license) to make sure that the person in front of you really IS the person who is applying. (ie so they dont apply under a friend's name who doesnt have the problems that they do).
This is a good one. Many times if you rent lower income properties (mobile homes, lower income properties) you will find this commonly. Many times the renter’s credit is so shot they cannot get the utilities in their own name and at the same time may use others to set up utilities and their rents.
Bad credit is not bad but does give a red flag.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Bad credit is not bad but does give a red flag.
Agreed. I am a lot more lenient if someone tells me up front about their credit problems. Also, I am pretty much willing to ignore any credit problems due to medical providers.