Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
For those landlords that do not employ the services of a broker to rent their properties (or rental agents that wish to share), what methods do you employ to make sure you are getting the best tenants possible? We have SFH's for rent in a desirable area of Pinellas County, FL. At the time we were out of state landlords we initially employed rental agents to help us find tenants. Were we came from originally, the tenant paid the broker fee (usually 1 month rent), so it was a no-brainer to use an agent. Unfortunately here the landlord pays the fee.
Meanwhile I see that most of my neighbors that rent houses or accessory apts just stick a hand made sign in the ground for a few days. In other places, have had very mixed results renting through Craigslist or Zillow and trusting my gut when meeting potential tenants. I want to leave as little as possible to chance. I am looking for a drama free rental experience.
I am especially interested in learning the best way to perform a background check. How can I as an individual check someones creditworthiness or credit history? Our previous broker used to charge an upfront fee of $45 for a background check which she said was the first way to get rid of undesirables. I can put an ad up online and get 50+ inquiries in a day, but how can I make sure they have good job, credit and rental history? Specific services and experiences are appreciated.
Meanwhile I see that most of my neighbors that rent houses or accessory apts just stick a hand made sign in the ground for a few days. In other places, have had very mixed results renting through Craigslist or Zillow and trusting my gut when meeting potential tenants. I want to leave as little as possible to chance.
Advertising services don't screen tenants. Part of "selling" something that isn't a COD/POS transaction is that you have to weed through bad customers (tenants.) Good Tenants and Bad Tenants all look at the same sources when they look for a place.
Using a website like zillow or Craigslist is a sure way to make sure you reach the largest market possible.
Quote:
Originally Posted by Frank Coe
I am especially interested in learning the best way to perform a background check. How can I as an individual check someones creditworthiness or credit history?
You get them to sign the waiver and put their information on the credit check form and give you a check for the application fee.
Then, run them through a service like smartmove, vertical rent, houserie, etc, or just pay for a credit bureau.
Quote:
Originally Posted by Frank Coe
Our previous broker used to charge an upfront fee of $45 for a background check which she said was the first way to get rid of undesirables. I can put an ad up online and get 50+ inquiries in a day, but how can I make sure they have good job, credit and rental history? Specific services and experiences are appreciated.
Thank You!
It works a little different for you; the Rental agent presumably has many rentals at her fingertips to show a client; and can pre-screen the reasonably sure that she has a place for the to rent; they might even have an exclusive buyers agreement like they would when purchasing a home. You aren't going to get anyone to fill out and pay for an application BEFORE viewing the unit, so yo will have to do some of yor pre screening beforehand over the phone and maybe email. If yo want fewer people calling you, you might want to look on neighborhood listservs, etc...
Although its nice to screen people....... I've learned that people who are deadbeats in the past will likely be a deadbeat to you and people with a good history will be deadbeats too. No guarantees in the landlord world.
Thank you all for your input. I understand that "past performance in no guarantee of future results" which is why I would rather keep my money than give it to a rental agent. They cannot offer a guarantee either. Any way you look at it, I am trying to hedge my bets as best as possible in an uncertain world. While ultimately I may have little control over the eventual circumstances, at least this way I can start my lease with a little extra money in MY pocket.
Ask for references from their prior landlord that was prior to the one they now have. Their existing landlord will want them out of his place if they are bad tenants, so he or she will likely lie to you. But the landlord prior to their existing one has nothing to lose and will be more honest with you.
I also tell my prospective tenants that if they lie on the rental application that I won't accept them. So they might as well be honest with me. That causes most of them to tell me in advance about any financial problems they may have.
You are better off paying the one month fee and working with an agency who will get a qualified tenant in.
They might be able to get someone in that first month, if you try on your own, you might be waiting 3 months or more to get someone in.
Yes, one month's fee is insignificant compared to what others have paid. My mother had all these idioms.....the one about being penny foolish eludes me, but that's the one that comes to mind.
Yes, one month's fee is insignificant compared to what others have paid. My mother had all these idioms.....the one about being penny foolish eludes me, but that's the one that comes to mind.
Penny wise and pound foolish. Meaning don't scrimp on something only to lose more money.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
