Originally posted by @Mags S.:
@Cameron Riley
- I use MySmartMove for background, etc checks. I use a bigger pockets application form which I found pretty thorough. I use the completed application to do my due diligence and if they pass that, I verify their email address with candidate and let them know they will receive a link from MySmartMove to complete. The potential tenant pays them directly. MySmartMove sends me the results. I’m from the best possible tenant school of thought vs first qualified tenant.
- yes I pay all the fees necessary to run a business. I run it legally and that’s the cost to do business in philly.
Every landlord is different. I’m not interested in the residual type income like collecting app fees, or putting in a coin operated laundry. I’d rather have the place sit empty vs putting in an unqualified tenant. I spent a lot of time and effort putting a system in place that works for us. Current tenant is in their 3rd year and pays rent electronically (immediately posts as cash) and all utilities, in their name, on time.
The best advice I can give you is to spend more time creating processes that covers all the bases, document it, and follow it religiously. It also shld be scalable so you can grow without re-inventing the wheel. In a previous life, my area was always subjected to federal audits. Biggest take away I learned is document (cya) and consistency. It will keep you out of trouble
BTW, my selection criteria is listed in the ad. If they don’t qualify, don’t apply. I also make them sign an acknowledgment that they have reviewed selection criteria and return with application. Maybe too much for some but it’s cya baby
- I never profit off application fees lol
- So, you use mysmartmove and then also give them an in person application? i will not insult your style but i will raise the question, don't you believe that to be a little tedious? i deal with low income housing, many poor persons apply to my properties, i have to be compassionate and make the application process simple and effective or else i will never have clients to pick from..
- I respect the system you have, but most landlords in urban areas will NEVER go to the extent of doing that, time consuming and money consuming
- However, if you can help me with the orignal thread, the true meaning of my posting...
- What is the best way to reject tenants, good and bad. sometimes i have to reject 10 good applicants because at the end of the day, i can only choose one person.
- I am happy to hear of the tenant success. are you in luxury rentals or lower income rentals?
- How does it immediately post as cash?
