Skip to content
×
PRO
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
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
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

Updated almost 7 years ago, 01/21/2018

User Stats

50
Posts
14
Votes
Oscar Macal
  • Rental Property Investor
  • Pinehurst, TX
14
Votes |
50
Posts

First Rental turnover

Oscar Macal
  • Rental Property Investor
  • Pinehurst, TX
Posted

Hi everyone,

I was just recently notified by my current tenant of my first BRRRR property that she will not be renewing her lease at the end of February as she is moving back to Chicago. She has been in my home for two years and honestly, I am very sad to lose her, as she has truly been an excellent tenant. Home has always been clean, never once been late on rent, only contacts me the few times she's had an issue, etc. But regardless, she is leaving at the end of February, which brings me to my questions.

The first time I rented the home out, I had my realtor do it. He did the showings, background checks, etc. and I looked over all the applicants and chose this one. I want to tackle all that myself this time and need all your help.

So therefore, what company/companies do you recommend for doing credit/background/eviction checks?

I plan to advertise the home via Zillow on their Rental Property Manager page as well as Craigslist. Any thoughts or other ideas on that?

Dumb question, but I plan to start advertising the property at the beginning of February with the hopes of being able to find a new tenant to move right in March 1 to have no "rentless" time in between renters. But worst case, if that doesn't happen, I'm assuming I need to move all the utilities into my name to keep lights on, even if it is only for a few days before I find a renter?

Lastly, I don't have a LLC or anything set up. Current tenant just paid to my name and I deposited into a separate account just for this home. I want to look a little more professional this time and advertise the property with "my" company name that will be my business name eventually. Is it ok to advertise as a company name, for example Macal Rental Homes, but still have checks written out to just my name, Oscar Macal, for rent and deposit into the bank account that is in my name?

Obviously I'm not asking all my questions, but I think I have researched the forums and gotten most of my answers, but these are a few that I am still unsure about. Any and all advise is welcome.

Thanks.

Loading replies...