All Forum Posts by: Jake Knight

Huge red flag, stick to your process.

You should definitely do a screening of the tenant/company. I see no reason to waive app fees, they should be happy to pay that.  Are they willing to pay several months up front?

We've seen it here, we started getting several employees of a fictitious trucking company.  We work with a company that we can communicate with to red flag situations like this now.  Unfortunately, people are always looking for ways to game your system so just be vigilant. 

Cash for keys if it will work.

The eviction is old and he has reestablished his credit standing.  Assuming he has good landlord references after that period - I see no issue with qualifying that.  Depending on what policy you have going forward on this, you may choose to increase their deposit amount.

Well said!

Your time is a huge factor in this, Nathan has a great post above that provides in fine detail here. Can you stomach being on call if the tenant has an issue?  I would at minimum interview a couple of companies to see if they're a good fit.

These are always hard issues for managers.  It's always good to have documentation and most managers wouldn't evict for this unless it's quite excessive.  That being said, if they are in violation of the lease, you can evict. If you don't want to go that route, you may choose not to renew their lease.  Noise complaints are very common in MFH so you're not alone in this.  If there is a violation of a local noise ordinance, the cops could get involved and that would act as evidence - I would think.

Most folks start as leasing agents and work their way up from there.  Multifamily property management is quite different than single family, I have done both.  You may do some research on what life is like on both ends and make a decision from there.  Good property managers are in high demand. I wish you all the best.  Feel free to reach out with any questions.

Hiring virtual assistants can save a lot of time, obviously they're somewhat limited on what they can do.