All Forum Posts by: Jennifer Rysdam

Thanks everyone. I appreciate the advice.

Thanks for the ideas! I'll check them out.

Thanks everyone! I really appreciate the advice and experience! You have some great ideas.

I'd love to have tenants fill out an online application instead of having to print or email them to me. Which ones are recommended? I only own an 8-plex, so I don't need anything too complex or expensive. Thanks!

I keep getting these people who want and qualify for an apartment but can't move in until 2 weeks from now or whatever. I collect the nonrefundable retainer of $250 (half of deposit), and then at the last minute they back out. So, when do YOU have people sign the lease? Do you make them do it now if they aren't moving in until 2 weeks from now, or on the 1st? What is your process? Thanks much!

Good morning everyone. Another question on here got me wondering. What is the list of screening questions that you ask people when they call about renting your properties? This is something that I need to get better at. I feel like I'm being so intrusive, but I guess if they are really interested they'll be giving me all of that info on the application and background/credit check anyways.

Thanks!

I wrote up a letter introducing myself and what the new name of the building would be. I also included some new rules that would be in affect, and also some that weren't being followed. The building was previously low income and no longer was. People weren't paying the full rent even after being told. I made it clear as to what the rent was, when it would be considered late, and what the late fees would be. I also stated that the building was now smoke free, along with some other things. It went over well and most people were happy to have new management. I also had printed up business cards and put them up on a bulletin board that I put up in the entry way. Good luck!

I would think that since it's a room in your own home that you could make any reasonable rules you want as long as they are stated in the contract. If I was renting out a room in my home, I certainly wouldn't want them having other people sleeping there. It's my home and I need to feel safe in it. Nothing wrong with having quiet hours either. Apartment buildings have quiet hours from 10-6, there's no reason why you can't have them in your home. I would see it as no different from renting a hotel room. You can't have people stay over that aren't registered and paid for, and they have quiet hours too.

I don't collect application fees. If someone applies I check out their application, verify their references, and then if they get past that part, they get an email from SmartMove. They pay the $35 fee to SmartMove and I get the background/credit check via email. If/when they get approved and move in, I subtract $35 from their first month's rent.

I give my tenants the choice. I send them a Quickbooks invoice around the 23rd of each month which gives them the choice of paying online through Quickbooks automatic transfer from their account, or they can put a check in the drop box that I installed in the door under the stairs at the apartment. I go there on the 6th and pick up what is in the drop box. The drop box is great because they can also put signed paperwork in there and people can drop applications in there as well.

Depending on the kind of tenants you have, you can decide what to do. I had a tenant's online payment fail. That was just a hassle for me. I have to go and pick up checks from the box and bring them to the bank anyways, so why not just get them all that way? Also, I have some tenants that pay right on the 1st every month. If they were to pay online on the 1st I'd have to wait 5 days for it to hit my bank. That's something to consider. Do you need the money quicker, or can you wait 5 days (or more if it's a holiday or weekend)?