Finding good Tenants in Toledo

[Anthony Roberts]

Hello BP Family,

I'm new to BP [first post] and really new to the Toledo Market.  I have purchased and renovated a couple of SFHs and am having some difficulties finding good tenants. Any processes to share and/or tips/recommendations?  

Thanks,

Ant. 

[Michael P.]

You don’t want mediocre tenants they will destroy your investment. Hire a good property manager like @Jackelyn Lee if you need assistance. 

[Engelo Rumora]

Quote from @Anthony Roberts:

Hello BP Family,

I'm new to BP [first post] and really new to the Toledo Market.  I have purchased and renovated a couple of SFHs and am having some difficulties finding good tenants. Any processes to share and/or tips/recommendations?  

Thanks,

Ant. 

Hi Ant,

As MP mentioned.

Hire good property management.

You have a few solid options in town.

If you manage yourself, you will save on fee's but IMO it's like tripping over dollars to pick up pennies.

Investors should focus on the next deal and scaling their portfolio while not being bogged down with minutia.

And there is a tonne of "minutia" when it comes to property management.

Sure, you can manage 2-3 or 4 properties.

Managing 10+ is a different story and a full time job almost.

Wishing you much success

[Dave Poeppelmeier]

Quote from @Anthony Roberts:

Hello BP Family,

I'm new to BP [first post] and really new to the Toledo Market.  I have purchased and renovated a couple of SFHs and am having some difficulties finding good tenants. Any processes to share and/or tips/recommendations?  

Thanks,

Ant. 

Hi Anthony, are you local and managing yourself or out of town? If you're out of town, then yes, you need a good PM. Shameless plug for LaPlante, reach out to @Andrew Fidler for more info on what we do, which is everything. 

If you're local and managing yourself, it's a great way to learn the entire rental process: acquisition, renovation, leasing, management, turnover. But, it also depends on where your properties are. If they're in D class neighborhoods (or even lower C class as well), then your options are pretty limited. You can't make a filet mignon with ground chuck beef if that makes sense. To get a better pool of potential renters for you properties, you have to be in areas where they are going to want to live. You also need to have an above average house for the neighborhood to give them.

If you're leasing yourself, you really can't go too wrong with Zillow. I would stay away from Facebook Marketplace, it was a crap show the couple times I threw a house up there, but that's just me. 

Bottom line is that it's a learning process. You'll figure out what works best for you, but be ready to learn the hard way along the way. Best of luck to you. 

[Drew Sygit]

@Anthony Roberts your info, "having some difficulties finding good tenants", is actually pretty vauge.

Are you having problems getting showings, applications, high enough credit scores, performing tenants or what?

Need more specifics to offer any decent assistance

[Anthony Roberts]

Quote from @Michael P.:

You don’t want mediocre tenants they will destroy your investment. Hire a good property manager like @Jackelyn Lee if you need assistance. 

 Thanks for the referral, Mike.

[Anthony Roberts]

Quote from @Engelo Rumora:

Quote from @Anthony Roberts:

Hello BP Family,

I'm new to BP [first post] and really new to the Toledo Market.  I have purchased and renovated a couple of SFHs and am having some difficulties finding good tenants. Any processes to share and/or tips/recommendations?  

Thanks,

Ant. 

Thanks for the insight.  I am managing these myself in the short term to learn process(es) 1st hand, to ensure wants vs. needs in a PM to temper my expectations when I do eventually turnover to a professional PM. 

Hi Ant,

As MP mentioned.

Hire good property management.

You have a few solid options in town.

If you manage yourself, you will save on fee's but IMO it's like tripping over dollars to pick up pennies.

Investors should focus on the next deal and scaling their portfolio while not being bogged down with minutia.

And there is a tonne of "minutia" when it comes to property management.

Sure, you can manage 2-3 or 4 properties.

Managing 10+ is a different story and a full time job almost.

Wishing you much success

[Anthony Roberts]

Quote from @Dave Poeppelmeier:

Quote from @Anthony Roberts:

Hello BP Family,

I'm new to BP [first post] and really new to the Toledo Market.  I have purchased and renovated a couple of SFHs and am having some difficulties finding good tenants. Any processes to share and/or tips/recommendations?  

Thanks,

Ant. 

Hi Anthony, are you local and managing yourself or out of town? If you're out of town, then yes, you need a good PM. Shameless plug for LaPlante, reach out to @Andrew Fidler for more info on what we do, which is everything. 

If you're local and managing yourself, it's a great way to learn the entire rental process: acquisition, renovation, leasing, management, turnover. But, it also depends on where your properties are. If they're in D class neighborhoods (or even lower C class as well), then your options are pretty limited. You can't make a filet mignon with ground chuck beef if that makes sense. To get a better pool of potential renters for you properties, you have to be in areas where they are going to want to live. You also need to have an above average house for the neighborhood to give them.

If you're leasing yourself, you really can't go too wrong with Zillow. I would stay away from Facebook Marketplace, it was a crap show the couple times I threw a house up there, but that's just me. 

Bottom line is that it's a learning process. You'll figure out what works best for you, but be ready to learn the hard way along the way. Best of luck to you. 

 Many thanks for the metaphor [makes sense], advice and the plug. Hit the nail on the head, I will manage these to learn and to temper my expectations regarding PMs.  Just trying figure out how to get a good pool of applicants.

[Anthony Roberts]

Quote from @Drew Sygit:

@Anthony Roberts your info, "having some difficulties finding good tenants", is actually pretty vauge.

Are you having problems getting showings, applications, high enough credit scores, performing tenants or what?

Need more specifics to offer any decent assistance

 Having problems sourcing good applicants [good credit, no evictions, etc.].  Not willing to show to applicants I've received as they either can't afford the rent/don't make enough, have multiple evictions.  I'm slightly lenient with credit and rely more on bank statements. Please lmk if clear enough. Thanks.

[Engelo Rumora]

Quote from @Anthony Roberts:

Quote from @Dave Poeppelmeier:

Quote from @Anthony Roberts:

Hello BP Family,

I'm new to BP [first post] and really new to the Toledo Market.  I have purchased and renovated a couple of SFHs and am having some difficulties finding good tenants. Any processes to share and/or tips/recommendations?  

Thanks,

Ant. 

Hi Anthony, are you local and managing yourself or out of town? If you're out of town, then yes, you need a good PM. Shameless plug for LaPlante, reach out to @Andrew Fidler for more info on what we do, which is everything. 

If you're local and managing yourself, it's a great way to learn the entire rental process: acquisition, renovation, leasing, management, turnover. But, it also depends on where your properties are. If they're in D class neighborhoods (or even lower C class as well), then your options are pretty limited. You can't make a filet mignon with ground chuck beef if that makes sense. To get a better pool of potential renters for you properties, you have to be in areas where they are going to want to live. You also need to have an above average house for the neighborhood to give them.

If you're leasing yourself, you really can't go too wrong with Zillow. I would stay away from Facebook Marketplace, it was a crap show the couple times I threw a house up there, but that's just me. 

Bottom line is that it's a learning process. You'll figure out what works best for you, but be ready to learn the hard way along the way. Best of luck to you. 

 Many thanks for the metaphor [makes sense], advice and the plug. Hit the nail on the head, I will manage these to learn and to temper my expectations regarding PMs.  Just trying figure out how to get a good pool of applicants.

Toledo Area Rentals Facebook group for prospect tenants 

Jackleyn is the admin and runs it well 

Much success 

[Engelo Rumora]

Quote from @Anthony Roberts:

Quote from @Drew Sygit:

@Anthony Roberts your info, "having some difficulties finding good tenants", is actually pretty vauge.

Are you having problems getting showings, applications, high enough credit scores, performing tenants or what?

Need more specifics to offer any decent assistance

 Having problems sourcing good applicants [good credit, no evictions, etc.].  Not willing to show to applicants I've received as they either can't afford the rent/don't make enough, have multiple evictions.  I'm slightly lenient with credit and rely more on bank statements. Please lmk if clear enough. Thanks.

Ant,

List your exact tenant criteria in the listing description of the property you’re looking to rent. Browse what other property management companies do with all of their listing descriptions on available properties.

Thanks 

[Drew Sygit]

@Anthony Roberts per our knowledge, Toledo has a lot of Class C properties/tenants.

So, most of your applicants/tenants will have FICO scores under 620, many even under 560.

For this Class of properties/tenants, we only look at the background check for violence-related convictions, evictions and utility collections (can they get utilities in their name?).

Then we look for acceptable rental history for last 2 landlords, unless same place for 3+ years. We don't trust the landlord info they give us, we look up public records to see who actual owner is and then use whitepages.com to get their phone number. If an LLC, we look up LLC ownership to see if a person or their legal agent.

Also, acceptable 2-year work history supported by YTD paystub(s) and last year's W-2(s).

[Anthony Roberts]

Thanks, again @Engelo Rumora and @Drew Sygit. Exactly info I'm looking for!

[Jackelyn Lee]

Quote from @Engelo Rumora:

Quote from @Anthony Roberts:

Quote from @Dave Poeppelmeier:

Quote from @Anthony Roberts:

Hello BP Family,

I'm new to BP [first post] and really new to the Toledo Market.  I have purchased and renovated a couple of SFHs and am having some difficulties finding good tenants. Any processes to share and/or tips/recommendations?  

Thanks,

Ant. 

Hi Anthony, are you local and managing yourself or out of town? If you're out of town, then yes, you need a good PM. Shameless plug for LaPlante, reach out to @Andrew Fidler for more info on what we do, which is everything. 

If you're local and managing yourself, it's a great way to learn the entire rental process: acquisition, renovation, leasing, management, turnover. But, it also depends on where your properties are. If they're in D class neighborhoods (or even lower C class as well), then your options are pretty limited. You can't make a filet mignon with ground chuck beef if that makes sense. To get a better pool of potential renters for you properties, you have to be in areas where they are going to want to live. You also need to have an above average house for the neighborhood to give them.

If you're leasing yourself, you really can't go too wrong with Zillow. I would stay away from Facebook Marketplace, it was a crap show the couple times I threw a house up there, but that's just me. 

Bottom line is that it's a learning process. You'll figure out what works best for you, but be ready to learn the hard way along the way. Best of luck to you. 

 Many thanks for the metaphor [makes sense], advice and the plug. Hit the nail on the head, I will manage these to learn and to temper my expectations regarding PMs.  Just trying figure out how to get a good pool of applicants.

Toledo Area Rentals Facebook group for prospect tenants 

Jackleyn is the admin and runs it well 

Much success 

 I just couldn’t deal with the scam and spam in the other ones! It’s beyond bad! 

[Anthony Roberts]

Quote from @Jackelyn Lee:

Quote from @Engelo Rumora:

Quote from @Anthony Roberts:

Quote from @Dave Poeppelmeier:

Quote from @Anthony Roberts:

Hello BP Family,

I'm new to BP [first post] and really new to the Toledo Market.  I have purchased and renovated a couple of SFHs and am having some difficulties finding good tenants. Any processes to share and/or tips/recommendations?  

Thanks,

Ant. 

Hi Anthony, are you local and managing yourself or out of town? If you're out of town, then yes, you need a good PM. Shameless plug for LaPlante, reach out to @Andrew Fidler for more info on what we do, which is everything. 

If you're local and managing yourself, it's a great way to learn the entire rental process: acquisition, renovation, leasing, management, turnover. But, it also depends on where your properties are. If they're in D class neighborhoods (or even lower C class as well), then your options are pretty limited. You can't make a filet mignon with ground chuck beef if that makes sense. To get a better pool of potential renters for you properties, you have to be in areas where they are going to want to live. You also need to have an above average house for the neighborhood to give them.

If you're leasing yourself, you really can't go too wrong with Zillow. I would stay away from Facebook Marketplace, it was a crap show the couple times I threw a house up there, but that's just me. 

Bottom line is that it's a learning process. You'll figure out what works best for you, but be ready to learn the hard way along the way. Best of luck to you. 

 Many thanks for the metaphor [makes sense], advice and the plug. Hit the nail on the head, I will manage these to learn and to temper my expectations regarding PMs.  Just trying figure out how to get a good pool of applicants.

Toledo Area Rentals Facebook group for prospect tenants 

Jackleyn is the admin and runs it well 

Much success 

 I just couldn’t deal with the scam and spam in the other ones! It’s beyond bad! 

 Scam and spam? Unfamiliar with what you're referring to. Is there something w/ one of the comments I should be weary of? 

Thanks, Jackelyn.

[Jackelyn Lee]

Quote from @Anthony Roberts:

Quote from @Jackelyn Lee:

Quote from @Engelo Rumora:

Quote from @Anthony Roberts:

Quote from @Dave Poeppelmeier:

Quote from @Anthony Roberts:

Hello BP Family,

I'm new to BP [first post] and really new to the Toledo Market.  I have purchased and renovated a couple of SFHs and am having some difficulties finding good tenants. Any processes to share and/or tips/recommendations?  

Thanks,

Ant. 

Hi Anthony, are you local and managing yourself or out of town? If you're out of town, then yes, you need a good PM. Shameless plug for LaPlante, reach out to @Andrew Fidler for more info on what we do, which is everything. 

If you're local and managing yourself, it's a great way to learn the entire rental process: acquisition, renovation, leasing, management, turnover. But, it also depends on where your properties are. If they're in D class neighborhoods (or even lower C class as well), then your options are pretty limited. You can't make a filet mignon with ground chuck beef if that makes sense. To get a better pool of potential renters for you properties, you have to be in areas where they are going to want to live. You also need to have an above average house for the neighborhood to give them.

If you're leasing yourself, you really can't go too wrong with Zillow. I would stay away from Facebook Marketplace, it was a crap show the couple times I threw a house up there, but that's just me. 

Bottom line is that it's a learning process. You'll figure out what works best for you, but be ready to learn the hard way along the way. Best of luck to you. 

 Many thanks for the metaphor [makes sense], advice and the plug. Hit the nail on the head, I will manage these to learn and to temper my expectations regarding PMs.  Just trying figure out how to get a good pool of applicants.

Toledo Area Rentals Facebook group for prospect tenants 

Jackleyn is the admin and runs it well 

Much success 

 I just couldn’t deal with the scam and spam in the other ones! It’s beyond bad! 

 Scam and spam? Unfamiliar with what you're referring to. Is there something w/ one of the comments I should be weary of? 

Thanks, Jackelyn.

 @Engelo Rumora mentioned I run a rental page on Facebook. I created it because the other pages were full of scam listings and spam and weren’t kept up with. Lots of people looking for homes on that page. 

[Michael P.]

Quote from @Anthony Roberts:

Quote from @Jackelyn Lee:

Quote from @Engelo Rumora:

Quote from @Anthony Roberts:

Quote from @Dave Poeppelmeier:

Quote from @Anthony Roberts:

Hello BP Family,

I'm new to BP [first post] and really new to the Toledo Market.  I have purchased and renovated a couple of SFHs and am having some difficulties finding good tenants. Any processes to share and/or tips/recommendations?  

Thanks,

Ant. 

Hi Anthony, are you local and managing yourself or out of town? If you're out of town, then yes, you need a good PM. Shameless plug for LaPlante, reach out to @Andrew Fidler for more info on what we do, which is everything. 

If you're local and managing yourself, it's a great way to learn the entire rental process: acquisition, renovation, leasing, management, turnover. But, it also depends on where your properties are. If they're in D class neighborhoods (or even lower C class as well), then your options are pretty limited. You can't make a filet mignon with ground chuck beef if that makes sense. To get a better pool of potential renters for you properties, you have to be in areas where they are going to want to live. You also need to have an above average house for the neighborhood to give them.

If you're leasing yourself, you really can't go too wrong with Zillow. I would stay away from Facebook Marketplace, it was a crap show the couple times I threw a house up there, but that's just me. 

Bottom line is that it's a learning process. You'll figure out what works best for you, but be ready to learn the hard way along the way. Best of luck to you. 

 Many thanks for the metaphor [makes sense], advice and the plug. Hit the nail on the head, I will manage these to learn and to temper my expectations regarding PMs.  Just trying figure out how to get a good pool of applicants.

Toledo Area Rentals Facebook group for prospect tenants 

Jackleyn is the admin and runs it well 

Much success 

 I just couldn’t deal with the scam and spam in the other ones! It’s beyond bad! 

 Scam and spam? Unfamiliar with what you're referring to. Is there something w/ one of the comments I should be weary of? 

Thanks, Jackelyn.

 Yes for example somebody will steal the photos of a listing and try to market it as their own and collect an unlawful deposit over Venmo

[Engelo Rumora]

Quote from @Michael P.:

Quote from @Anthony Roberts:

Quote from @Jackelyn Lee:

Quote from @Engelo Rumora:

Quote from @Anthony Roberts:

Quote from @Dave Poeppelmeier:

Quote from @Anthony Roberts:

Hello BP Family,

I'm new to BP [first post] and really new to the Toledo Market.  I have purchased and renovated a couple of SFHs and am having some difficulties finding good tenants. Any processes to share and/or tips/recommendations?  

Thanks,

Ant. 

Hi Anthony, are you local and managing yourself or out of town? If you're out of town, then yes, you need a good PM. Shameless plug for LaPlante, reach out to @Andrew Fidler for more info on what we do, which is everything. 

If you're local and managing yourself, it's a great way to learn the entire rental process: acquisition, renovation, leasing, management, turnover. But, it also depends on where your properties are. If they're in D class neighborhoods (or even lower C class as well), then your options are pretty limited. You can't make a filet mignon with ground chuck beef if that makes sense. To get a better pool of potential renters for you properties, you have to be in areas where they are going to want to live. You also need to have an above average house for the neighborhood to give them.

If you're leasing yourself, you really can't go too wrong with Zillow. I would stay away from Facebook Marketplace, it was a crap show the couple times I threw a house up there, but that's just me. 

Bottom line is that it's a learning process. You'll figure out what works best for you, but be ready to learn the hard way along the way. Best of luck to you. 

 Many thanks for the metaphor [makes sense], advice and the plug. Hit the nail on the head, I will manage these to learn and to temper my expectations regarding PMs.  Just trying figure out how to get a good pool of applicants.

Toledo Area Rentals Facebook group for prospect tenants 

Jackleyn is the admin and runs it well 

Much success 

 I just couldn’t deal with the scam and spam in the other ones! It’s beyond bad! 

 Scam and spam? Unfamiliar with what you're referring to. Is there something w/ one of the comments I should be weary of? 

Thanks, Jackelyn.

 Yes for example somebody will steal the photos of a listing and try to market it as their own and collect an unlawful deposit over Venmo

 I use do that all the time 🤷‍♂️