All Forum Posts by: Cameron Riley

You can't raise the rent after the fact. We had a similar situation, we took the ad down. Than we processed all the application and lady luck was with us, none of them past our screening process. We refreshed our add with the higher rental amount and posted. At the next showing a few people did ask if the rent went up. We told them yes it did, do to market condition. As @Carrie Young stated, do a better job with your market research. Good luck.

Same exact thing I did lol

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Quote from @Carrie Young:

Yikes, you could get in trouble with fair housing laws. Just pick the best applicant so they don't ruin your house. Do a better market survey next time...

What fair housing law would extreme demand/market conditions causing rent to be raised be violating?

(Not forcing them to sign the lease, But I do understand it is unfortunate to hear that the monthly price is going to have to be raised)

Appreciate the feedback...

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Posted a home for rent... I do city rentals!

- At the open house, a bunch of people applied...

- Can I raise the rent that I had previously listed the house at? I have many good tenants to choose from and I want to make sure I do this the right way and get maximum possible rent.

Is that discriminatory to raise rent based on demand?

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Hi investors. Please answer this in an itemized way to better help flow of conversations!

- What is the most amount of people you have had try to apply to your rental listing?

- How much do you charge for the application fee?

- Should I give a general time and let people show up and apply if they wish? Example: " Hi, stop by between 1-4pm on sunday and you can apply "

- ( My recent received 5k views and 400 messages... 150 people attempting to come to a showing)

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• What is the exact message you send when you don’t accept any applicant?

20 people applied on showing day, can only take 1 obviously...

Give me a message..

No, we don’t do first come first serve. We choose the best criteria applicant

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My mother owns a property and wants me to help her sell it and get paid for it

Will she have to pay capital gains if she takes that money and re-invests it?

She plans on making 50k and purring that 50k into a NEW barn..

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Best question all time:

If you advertise a rental unit at a certain price, can you change that price depending on the persons • SOURCE OF INCOME •

Example: I list a home for 1k a month, that’s for “ cash paying tenants “

But section 8 TENANTS can pay 1150 for the same type of listing I have.

I decided to take section 8 and upped the price even more, upped it to 1,200

Do you feel as if that’s unethical and or illegal?

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Originally posted by @Scott Mac:

Going forward it will help if you know the (C-) lifestyle and "Culture" for the area you are renting out.

Buy here--pay here vehicles, Rent-to-own furniture (at best), friends and family with "Records" (not the vinyl kind), Dead junk vehicles awaiting some never to happen repair, financial tightness and sometimes irresponsibility, rely on friends and family for help, etc, etc, etc...

If you know and understand your "Customer" it will be easier to make money from them, than if you expect them to behave and have the same level of lifestyle and financial responsibility as B+ renters.

In other words, don't expect a Camel to have no humps, and don't expect it to be a horse.

Just my 2 cents.

what criteria should we have for C CLASS?

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If I have heavy interest on my rental listing...

And 20-30 people want to see it which equals 20-30 applications with application fees.. at 25.00 a few

Do you see something wrong with that?

Since I do a open house style of showing of the rental and not a “ by appointment “,

Is it ok to show the house for 2-3 hours and collect as many APPS from whoever wants to apply?

If you see something wrong with this.. how can I still do the “ open house style “ but stay ethical?

Only collect up to 10

Applications before reviewing?

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Originally posted by @Kyle M.:

Simply tell them that the reason that they weren't selected is because you don't like their kind. You should be fine.

But really don't. Good Luck.

still not funny

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All Forum Posts by: Cameron Riley

Cameron Riley has started 90 posts and replied 527 times.

Post: Raising Rent Based On A High Amount Of Applicants?

Post: Raising Rent Based On A High Amount Of Applicants?

Post: Raising Rent Based On A High Amount Of Applicants?

Post: The most amount of people you have had apply to a rental?

Post: Best message to reject applicants?

Post: My mother bought a home to resell. Does she pay taxes on sale?

Post: Section 8 VS CASH TENANTS? Please share your comments

Post: Rookie needs advice for tenant screening in C class neighborhood.

Post: Do you stop people from applying at a certain point?

Post: NEED HELP- How to Tell A TENANT he wasn’t selected for my RENTAL