All Forum Posts by: Jeff Gates

If you don't have proof that is solid. Only deduct what is very reasonable. Even to the point it looks less than actual costs. If you must face a judge, think like he will. If the judge feels you were very reasonable he will not take action against you. 

Use software that segregates the property accounting. Many are free.

If the ratio is less, they will move in an unauthorized person to help pay the rent. Watch out!

Don't forget your schedule e requirements. Each property must be accounted for separately. We are building software for property accounting, and one of our features is schedule e output.

I don't rent to self employed folks for this reason. There is no employer to call. And with bookkeeping, and tax statements, most self employed folks will have a ton of excuses.

If they offer a quick check this is a bad sign. No one does a good check by database search only. And 99% of the services do only that. Your service should use human verifiers, or you can be scammed. 

The 5 day float is how they make money on you.

Credit score means so little. 

I talk with the past landlord and ask:

A rental applicant who looks great on paper isn’t necessarily risk-free. The best way to avoid potentially troublesome renters is by requesting a reference check from their previous landlords. A renter who is coming up on the end of a lease and desperately trying to find a new place may not have any qualms about being dishonest when answering your screening questions.

1. Was the rent paid on time and in full?
2. Did the tenant take good care of the home or property?
3. Did the tenant display disruptive behavior?
4. What was the rent amount?
5. What was the deposit amount?
6. What was the deposit amount that was refunded?
7. Did the renter bring in other people during the lease? Where they on the lease?
8. What was the condition of the property upon their lease end?
9. Did you give notice to vacant or any other non compliance issue?
10. Was the renter a good communicator?
11. Did they fulfill the lease term?
12. Did the renter abide by the Pet policy?
13. Would you rent to this person again?

This is one sensitive area. There are laws that require a Adverse Action Notice.....

I never show the unit until I do a phone screen, I ask a few questions. Then decide to go further or not. If I decide against it. I just say " I will think about it", thanks for your interest. 

I don't like to lease beyond one year. Laws are different after a 12 month stay. And the market rent changes too fast.