All Forum Posts by: Diana Flores

In Virginia, we call it Buyer Agency Agreement. Realtors require this agreement to establish the relationship between agent and client. If you are not happy with the agent, you can simply send an email to the agent ending the agent-client relationship. As realtors, we spend gas, money and time working and educating each client. Personally, I wouldn't work with a client that is communicating with several agents. 

@Andy Basler Unfortunately there isn’t a way to do this. I use Paypal Business for my rentals.

You may not have enough time for this, but I recommend reading "Every Landlord's Tax Deduction Guide". The book has a chapter on this:

"A tax rule allows you to deduct up to $5000 in start-up expenses the first year you are in business, and then deduct the remainder in equal amounts over the next 15 years." 

This includes travel, lodging, food during your trip, repairs, etc related to your business. However, the actual trip & cost that led you to find the property must be added to the property's tax basis and depreciated. 

I hope this helps. 

@Bill Bleich Like others have said, I also use Tenant Cloud. I like how easy it is for managing my e-contracts, online rent payment, and maintenance requests. I recommended it!

@Alyssa Kroeker Keep the same deposit in case they leave the yard under their chicken coop full of poop when they move out. If the chickens live inside, feathers create a lot of dust too.

@Nicole Obregon Definitely not. Let someone else take the risk.

@Thomas W. I worked very hard and lived frugally to completely pay off my first condo in 5 years while simultaneously building a savings account in case of a financial disaster. I sent my final mortage payment last March. In May, I used my savings to buy my 2nd condo which I purchased using a home mortage loan to get a lower interest rate. My 1st condo is now a rental. I wiIl buy My 3rd condo next year.

@Jess White Paypal. I use TenantCloud for my property management and it emails my tenants 5 days prior & on the 1st of each to month to remind them that the rent is due. It includes a link for accepting online payments which I love!

Yes, I used the Microsoft Version of the Bigger Pockets rental contract & pasted it onto the Tenant Cloud template. Also, I suggest going to Google & search for rental applicantions in your state. By doing that, I was able to find several online rental applications from other apartment buildings in my area & found additional clauses that I also added to my rental contract. 

I am using TenantCloud for everything: for the rental application, contract, screening, accounting and online payment. TenantCloud uses RentPrep to screen prospective applicants which I like because it’s incorporated into the system.

TenantCloud allows my tenants to pay their rent online using Paypayl, Stripe and Dwolla. I also use it so my tenants can submit Maintance Requests.

I agree. Don’t provide a specific answer when you decline their application. If they insist, tell them that you require a credit score of 800 or higher.