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All Forum Posts by: Callie Mahoney

Callie Mahoney has started 3 posts and replied 6 times.

Quote from @Nathan Gesner:
Quote from @Callie Mahoney:

If I'm reading this correctly, you are upset that your new Tenant has to pay a large deposit. This probably means they can't afford it and they are asking you or the property manager for some form of assistance.

You and your property manager don't sound very experienced because this is common. If your Tenant has a bad history with other utility providers, your utility provider may reject their application or require them to pay a hefty deposit. In my city, the deposit is up to $400. Others are even higher.

Do you know how the electric company found this out? They ran a credit/criminal background. Your property manager should be doing the same. If they had, they would have seen this utility collection on the applicant's credit report and they could have (a) warned them they may have to pay a large deposit or (b) reject them as an applicant because they are high risk.

I don't rent to tenants with unpaid utility collections.


 Not exactly. This tenant is a new tenant and is a non profit. They have never encountered a situation like this. They have a lot of houses in the state and this has never happened previously. 

Quote from @Mickey Y.:

more than likely the tenant had a remaining balance when they closed the previous account. They can try to ask for payment plans for the deposit.


 The tenant is a nonprofit. This is not something they have ever encountered.

Quote from @Richard F.:

Aloha,

Your post is not very clear. I am assuming the "company renting your property" is reference to a PM company that is managing the property for you. I also am assuming that the PM has found this new Tenant.

If both of my assumptions are true, then it seems obvious the Electric company knows more about the Tenant than your PM. The Tenant likely has not paid Electric or other utilities at prior rentals, and is therefore a bigger risk to the Electric company, which is why they are requiring additional deposit. There is nothing unusual about that, except your PM should have adequately screened the Tenant and discovered what is a big red flag.


 No. Completely new tenant. PM isnt relevant.

The electric company has required my new tenant to make a huge deposit due to 'previous late payments'. The company renting my property already has 86 rentals in the state and mine is the 87th. The company renting my property has not had this happen with their other 86 property rentals. 

I record all conversations. I have records stating the deposit requirements for turning on electric are completely different than this situation. Just because they are my tenants there is a different requirement than ever before?

 Has anyone experienced this before? What would you do in this situation? 

We all know the process of real estate helps when there is a construction knowledge background. My first experience as a landlord turned into a mess and my inspiration is dwindling. 

A year ago I listed my first rental property. Pre-screening was seemingly adequate, and everything came back accordingly. This family was moving into the area due to having a new coaching position at the local university. 

They were AWFUL and created issues from the beginning. 

Long story short, I have learned to add additional pre-screenings to my rental applicants. At the time I did background and credit check. I know that doing this for all adults in the residence will possibly not be as efficient as necessary.  

Do any of you have tips on pre-screenings? Do you ask for references on your tenants? When you have issues early in the lease do you get rid of them sooner than the end of the lease agreement?

Post: Private Money Lender OKC

Callie MahoneyPosted
  • Posts 6
  • Votes 1

Here to share a lending resource to those of you that are looking for options!

www.privatemoneyokc.com