All Forum Posts by: Angie W.

I was given the advice once here on BP to call and ask for the person and then say something like..." Mark has you listed as a reference. How do you know Mark?" May trip them up as they have no idea which person they are supposed to be. The question you have listed is also a good one also - if they listed $1300 for rent ask them if to verify that they are/were paying $1100.

I recently had a lady lie on an app about current landlord/owner. I had questioned her about the current place she was living - and asked her if her current landlord knew she was planning on moving. She answered "oh yes, the area is so bad that she is selling as soon as I find a place."

I had a gut feeling based on the showing that she was lying. So out of curiosity I ran the name that she listed as the "owner/landlord" through the local courts. Turns out the name she listed was her daughter who was going through an eviction. Needless to say I never called the "landlord" or the applicant.

I personally try to use every resource available to verify the owner/landlord of the property before I even pick up the phone. Where I live we are required to list contact info with the auditors office - so if the name matches I may try the phone # listed there first.

That would be great information to know - I'm not sure where you could get it though.

I do the same thing as you do. The neighborhood my rental is in has a lot of private owners. I struck up a conversation with one of the landlords while at the property one day and he volunteered what he was getting out of the 5 rentals he had. It was nice information to have and helped me to set my rent and some of my policies.

Thanks for the response @Andrew S. .

Her concern is the lack of good comps in the area. The neighborhood has had a high rate of foreclosure sales which in turn she is afraid will affect appraisals for financing. This house is completely rehabbed not a handyman special. She thinks it is a great rental - I don't disagree with her, it is a great rental property, but one that I wish to get out of due to time constraints.I currently don't have the time to find a suitable tenant, and have not been able to find property manager or leasing agent that I feel comfortable with.

That's why I thought I would try offering it in some way to cash investors who are looking for ready to rent properties.

I have a SFR that I have owned for 3 years that is now vacant. I would like to try to find a cash investor or owner occupant who would be interested in buying it as we currently do not have the time to properly market and manage it.

I have talked to my agent (whom I've worked with for years) and she keeps telling me to rent it and doesn't seem interested in listing it.

Even though I may not be successful in finding a buyer myself I would at least like to try to give it a shot - maybe even market it for rent and sale simultaneously and see what kinds of feedback I get. Property is ready to go, has had many updates, and would list around 40,000, and had been rented for the last 3 years @ $635.

If I market it for sale and find a buyer where do I go from there? Do I hire a RE attorney to look over any deal and set up closing? What expenses should I plan for? Any advice would be greatly appreciated.

@Phil Blair I agree with the consensus. Unless you have something in writing that is signed stating that it is non-refundable, no court in Ohio is going to take your side. In fact, it will cost you more if the judge sides with them, you will not only pay your attorney you will also be out court costs.

If you turned away 10-20 people in just 2 days I'm sure you're going to have no problem finding other suitable tenants. Try calling some of them and see if they're interested, and continue to market the property.

Return their deposit and take this as a lesson learned. Always get something in writing before taking money from anyone. I personally keep marketing the property until I have all the money in my hand and a signed lease. In my mind the property is still available until that happens.

@Michaela G. you bring up a good point. It's important to look at and really study a PM contract. Then ask yourself "What incentive do they have to find a good tenant, that is not high maintenance, will pay on time, and will take good care of your property?"

If they don't take as much of a hit as you will financially for a lousy tenant then they really have no incentive at all. In fact I believe many have their contracts worded in such a way that allows them to gain from a lousy tenant.

I have not used the service yet, however it is my understanding that it does NOT do an eviction check. It will only show on a credit report if a judgement has been granted.

Most counties in my state have their court records online and I can check them for free. As a side note, I discovered that asking for the county, in addition to the regular address of present and previous addresses on my applications, saves me time when having to search.

I have yet to run someone through Smart Move, and I am curious as to what the report actually looks like as I can't find a sample one on their site. It appears that you can ask for a full credit report and background check. Maybe someone who uses them can give you more info.

@Erin Weiss I agree with you. It didn't sound like something I was interested in either. If you have the time and patience to do it yourself I would recommend it.

I am in a position where my husband and I currently don't have the time to market and show the property when people are available, in addition to screening. It's not hard, just time consuming and at times will try your patience.

If you decide to do it yourself make sure to do your research to CYA and screen your applicants well.

It wouldn't hurt to interview a few PM's or even leasing agents, if you just want help getting it leased. Some offer things other than full service that you may be comfortable with. I have just been given a recommendation for another PM which I am going to call tomorrow just to see if they operate any differently than the first one I spoke with.

I also recommend consulting an attorney that specializes in this area just to make sure you have everything in line. Most initial consults are free and can save you a lot of headache down the line.

Good Luck to you!

As with anything there are good and bad property management companies. Just read here on the forums and you will see some of the issues that others have had.

As others have said be sure to find out what ALL the charges are. Ask for a sample contract so that you can see all of the HIDDEN fees. Many will woe you by making you believe that you only pay x% per month and maybe a fee to either set up, or place a tenant.

I have thought about going this route and asked one PM for a sample contract. In it I found that they marked up maintenance costs 10%, if a tenant was late paying rent and they went after them they kept 100% of the late fee collected, they only needed your ok for any expense over $500, AND also wanted you to deposit $500 reserve funds with them for repairs. All of this was after a $750 set up fee AND 11% per month of collected rent. There was also a lot of language in it that basically said they took no responsibility for the tenant they placed.

Hiring a property manager sounds great until you calculate the real cost. Having someone take care of your maintenance can be both a blessing and a curse. A blessing because you don't have to deal with it - a curse because you have no control over who they hire or how much they pay.

I'm sure many have also had a good experience - just make sure you fully understand what you are getting into before signing a contract.

It sounds to me like a shady PM. Here in Ohio (my area anyway) water and sewer charges may be put as a lien against the property. There is actually a special form that the owner and the tenant must fill out in order for the tenant to be billed instead of the owner.

I do not pay my tenants water/sewer bill. They are required to put it in their name. I in turn get a copy of the bill telling me how much they owe each quarter that says "This is not a bill - your tenant has been billed" I also get a delinquent notice if they don't pay on time - if this happens I contact them right away and tell them they need to get it paid or face eviction. If they say they have paid I can call to verify. Same with when they move out. It is their responsibility to stop the service in their name - at which time it goes automatically into mine (again I am notified) and they get a final bill.

I do not return their security deposit until I call and get verification that their final bill has been paid. This is really not that difficult and something your PM should be doing before releasing any of the deposit IMO.

As far as including the water/sewer in the rent - I find this almost impossible as the bill can vary greatly and is not customary in my area.

This is why I am so reluctant to use a PM. I have heard about so many negative experiences with them.