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All Forum Posts by: Cameron Riley

Cameron Riley has started 90 posts and replied 527 times.

Post: What is the most applications you have reviewed per HOME?

Cameron RileyPosted
  • Rental Property Investor
  • Phila, PA
  • Posts 553
  • Votes 118
Originally posted by @Colleen F.:

@Cameron Riley  I try to keep the applications down. For one home I usually get about 60 interested and only  maybe 10 to  show, the rest being pre-screened out by me or themselves. Max applications I have seen on that house at about the same time is 6 and 5 didn't qualify.  For student rentals  2 groups apps max.  For apartments I normally see 1-2 ,  max 3.  I would turn them all down if not qualified. 

People think I am insane well I say I get over 100 messages per listing! Which can equate to upwards of 20-30 APPLICATIONS! lol

What do you charge for a fee? And do you select first qualified  

Post: What is the most applications you have reviewed per HOME?

Cameron RileyPosted
  • Rental Property Investor
  • Phila, PA
  • Posts 553
  • Votes 118

Please Answer and comment back in an itemized fashion

I don't do the ONE AT A TIME concept that HALF of the biggerpockets community seems to suggest.

I do a scheduled showing, 2 hour period and whoever wants to apply, can come apply. I usually get 40-80 people interested in viewing the home. That is potentially 80 tenant applications.

- How many applications have you reviewed for one unit? How much was your APP FEE?

Did you ever have a situation where you denied them all?

Post: How to delete a post.?

Cameron RileyPosted
  • Rental Property Investor
  • Phila, PA
  • Posts 553
  • Votes 118
Originally posted by @Joshua Dorkin:

We don't delete posts.

lol why?

Post: Do you put the rental criteria in the LISTING?

Cameron RileyPosted
  • Rental Property Investor
  • Phila, PA
  • Posts 553
  • Votes 118
Originally posted by @Stephen J Davis:

I also only put the minimum in the ad so they have to call me to get more info. I want to talk to them so I can close them.

 agree

Post: Do you put the rental criteria in the LISTING?

Cameron RileyPosted
  • Rental Property Investor
  • Phila, PA
  • Posts 553
  • Votes 118
Originally posted by @Stephen J Davis:

I also only put the minimum in the ad so they have to call me to get more info. I want to talk to them so I can close them.

 SAME !

Yeah, only going to put the minimal criteria from now on

Post: Do you put the rental criteria in the LISTING?

Cameron RileyPosted
  • Rental Property Investor
  • Phila, PA
  • Posts 553
  • Votes 118
Originally posted by @Jeff Willis:

No. It is asking for a law suit. Someone will feel discriminated against because of the criteria you post and once posted, it will be used as evidence against you. I accept all applications and evaluate based on my criteria.

This is a good article  What is Rental Housing Discrimination? 

See, I never understood why everyone was posting their criteria...

So you LET every applicant apply? And what do you tell them when they ask " What is the rental criteria? " 

Post: What is your screening/rental criteria for C-Class and D UNITS???

Cameron RileyPosted
  • Rental Property Investor
  • Phila, PA
  • Posts 553
  • Votes 118
Originally posted by @Michele Fischer:

We use a scoring system.

Stated criteria, pretty broad since we pay the screening fees:

Our Criteria:

We do not deny housing for race, color, religion, sex, national origin, handicap, sexual orientation, marital status, or familial status.

We do deny housing to individuals:

  • when the application is not complete or accurate
  • where there is not sufficient income/resources to pay rent and live
  • where there is poor prior tenancy: evictions, violations, damage to rental property, poorly handled move outs, amounts are still owing to landlords or utilities.

Criminal activity is at our discretion depending on severity, number of convictions, and how long ago.

We look for Income in sweet spot: rent 28%-31% of income, applicants who don't move every year (per credit report), applicants with bank accounts, non smokers, a verifiable stable source of income, landlord references, etc.  None of these are individually a deal breaker, but the scoring system gives an overall assessment and the highest scoring applicant gets an offer to rent.  Too low and it stays empty.

 Do they know this score system? If I go to look at a unit, what information would you tell me when I ask about your criteria for renting the unit?

Post: Is it wrong to accept 20-25 applications with the fees?

Cameron RileyPosted
  • Rental Property Investor
  • Phila, PA
  • Posts 553
  • Votes 118
Originally posted by @Bud Gaffney:

@Cameron Riley I would categorize this as unethical. It is 1 unit, and you will be picking 1 person. 20-25 paying applicants seems excessive. Just my opinion :)

fair enough. I came to the conclusion that it is unethical, but since i Can't stop the amount of interest a listing gets, I can CREATE a cut off limit... " Cut off is 12-15 applications per unit "  

Post: Is it wrong to accept 20-25 applications with the fees?

Cameron RileyPosted
  • Rental Property Investor
  • Phila, PA
  • Posts 553
  • Votes 118
Originally posted by @Brian H.:
Originally posted by @Cameron Riley:

Hi guys! how many applicants per unit?

Sometimes I’m getting 20-25 people paying and filling out applications with the fees, how about you?

When does In become unethical?

 Are you using Facebook Marketplace? Craigslist? That's a lot of people going that far in the process!

 I have a masters in marketing from PSU (Humble brag lmfao)

I use a mix of MARKETPLACE AND PAID LISTING SITES!!

Post: Is it wrong to accept 20-25 applications with the fees?

Cameron RileyPosted
  • Rental Property Investor
  • Phila, PA
  • Posts 553
  • Votes 118
Originally posted by @Pat L.:

One of our investors threw out on Craigslist a ranch he rehabbed & to his surprise he immediately had 20+ applicants, he emailed them applications, most of whom Venmo'd the application fees. I can only assume he reimbursed those rejected. 

We had a semi-rural trailer park here where the manager put a rundown trailer for sale on craigslist for $600. She took $25 from each person applying. I knew a couple of handyman types who went through it with their significant others & they paid the fees. The kid working maintenance at the park did some rehab for me for several months & he told me she probably had 10-20 a month applying as he would take them through it after-hours & weekends. It ran for at least 8 months that year & apparently never 'sold'. After the winter months it popped up again, same routine.

 Yeah, people never believe me but ultimately, my listings average 200-400 views bare minimum and 20-80 people trying to apply lol

- What do you suggest I do, especially when they ask " How many applied? " Who is all interested?" 

- Should I make a 10-15 cut off?

It sounds like the trailer park made a few GRAND lolL!!!!