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Has anyone ever used Rentalution for their rental property? Im thinking about using it for my next round of tenants, but just wanted to know if anyone has used this site, or something similar to it before.
Just a quick look at their website they cost $45 to run a credit check, looks to include a background as well so it is on par with other services.
The credit report is pulled from TransUnion so in my opinion you may as well just use their service directly, Smartmove.
They claim to be able to background check all 50 states which I am pretty sure isn't actually possible, I could swear there is 2 states that cannot be pulled but I could be wrong. If I'm not wrong then they are lying so be aware of that, shady business practices and all.
I personally would never have a lease from an online company and honestly signings can be done digitally in Adobe for free, there is also no mention of cost for their lease. I type my own up in Word and save them as a PDF which you can send out for signatures if you want.
The rent collection portion is on the ACH system which takes longer than 2-3 days in some cases, Cozy has been fighting with it for a while, and there is also no mention of cost.
TLDR: seems like any of the many other services just like it.
Although I have never used this service, I can see how it could be useful for landlords with few properties who do not regularly handle background checking of their applicants.
But some of the benefits provided can be found better elsewhere. For instance, postlets(zillow) is a great options to get your property out on multiple listing sites. Also, a more fully-functioning property management platform may be worthwhile for landlords with more units, as these typically will also handle the tracking on finances.
I haven't used it, but I use Cozy.co + postlets and I ended up with multiple strong applicants on my property. The majority of the leads came in through Zillow, and Cozy was great for background checks (and now, for collecting rent).
I am using them for the last 2 months, I got paid directly from tenant for those first 2 months, and set up automatic payment through their website and not sure how it will go. They are claiming they have been in business for the last 5 years. when I checked BBB they have been in business for the last 5 years in chicago IL and they have been in FL before that and they went out of business. BBB sows they have 3 employees and they are claiming they are managing 20000 properties that doesn't make any sense. I called the number they have on the web, you get 2 options with wait to talk to someone or leave message, I waited but after 4 minutes a recording asked me to leave message that was the only option. they have been answering my emails, but when I sent them these information asking them for answers I haven't heard back from them. so I advise anyone not use them.
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