All Forum Posts by: Donald Cooley

Hi all, 

Excited to report we have our first potential renter. Numbers look pretty solid and she appears to have her ducks in a row. Question is, what sort of things do we ask of the prior landlords? Any insight will be greatly appreciated. 

We just bought our first rental, when we set up the utilities they put us in a landlord plan. When the tenants move out it would automatically return back to us or in our case back to our LLC. Hope this helps.

Thanks everyone for the advice. ..looking forward to getting this first property rented out to a good tenant and getting some experience. Then it's on to the next one! 

Welcome aboard. Take advantage of all the great tools and educational opportunities. Not to mention all the added knowledge and experience of the members. Best of luck on your endeavors. 

Don

I have mine in escrow from several years ago and have actually thought the same thing. I've debated reactivating it in order to possibly save time in viewing homes as well as making offers. 

Thank you everyone for the reinforcement, it's our first property, and we just want to make sure we're doing it right. We had a showing today in which they told our realtor "nobody charges application fees" and that they were "turned off" by it. We are using Cozy so they aren't paying me anything. We are just trying look professional and be thorough in our screening process. 

Another question, do most Property Management companies charge application fees? 

Thanks for the advice guys. I just want to make sure we run this like a real business is run. 

Hi all, 

My wife and I are in the process of marketing and renting out our first income property. Is it normal to do a criminal background check along with the credit history? Just curious. I've advertised on a site called Cozy along with my advertising with our Realtor. The site charges applicants 35 dollars for a credit history and a background check. 

Just wondering if this is overdoing it or par for the course. Any advise will be helpful. 

Thanks

Welcome to BP! Get involved and take advantage of all the great info on this site. All questions and share stories and get advice from people who've made it work. Blessings and best of luck on getting started! 

@Steve Vaughan thank you, I'm hoping it's the first of many providing financial freedom for my family.