All Forum Posts by: Karen Orr

 CORRECT.  If one doesn't under the Statute of Frauds, you probably shouldn't be in this business.  

But I bet they had great credit. 

 Finally a statement that is probably true.  Unless their DNA shows they aren't the parent.  

 OR it might show their property is paid off, and they haven't rented in a long time because they were living in a relatives property.  You folks are looking at this as black and white.  Things are never black and white.   They might not have references if occupying a friends house or a relatives. One comes to mind and she was on Oprah years ago.  A very high profile HR recruiter house sat in some of the most expensive homes in Georgia.  This is about 25 yrs I spoke with this person.  They were very credible, yet had no mortgage or rental history.  Things are not always what they seem. 

 AND without fear of being correct, stating an absolute that all applicants with a score below 650 don't place much importance on their credit is literally a ball faced story and has no basis in fact.  There are too many factors nowadays that can deflate credit in one day.  Things such as Identity theft.  Their spouse wiped out the accounts, ran up the cards without their knowledge.  A child, whether adult or adolescent did something stupid with their cards or identity.  I know of at least one family member that happened to.  The child stole the checks, the cards everything, and the parent wasn't aware for months.  Stuff happens.  On the flip side looking at all of these postings, from a consumer side, I find that investors are asking a fortune for properties that are in bullet ridden neighborhoods and have done nothing but "paint" the place after purchase.  As a consumer I have a choice, too.  And I screen and run background checks on YOU.  This is not a unilateral contract.  They are bilateral.  the 14th amendment comes to mind.  Having dollar signs in your eyes and heart with no compassion or ability to read between the lines is not the kind of landlord I would want, nor would I sell to.  Sellers can be choosy, too.    MY 2 cents.  There is an old saying, there but for the grace of God so I.  I worked with people who were "investors" like the ones on here.  I saw their climb up. I saw them fall down and become tenants.  Just sayin. 

DB OBrien

replied about 1 hour ago

You: Sadly, the report run by PM was not thorough. After the eviction process stated I ran a background check and the bankruptcy came up, it must have been too new to show up on the credit report (I’m assuming, as it occurred just a month before the lease was signed). My point of my post is, if the credit report was falsified, isn’t that fraud? Can I have her charged with committing this fraud? I’m trying to legally make her life uncomfortable...

Not necessarily.  I can think of at least two scenarios that explain it away.  One, their name was commingled with one similar or the same, and that is the credit report your PM found.  They may be a victim of identity theft.  It doesn't always show up right away.  

Secondly, once had a friend that was stabbed in the back by a business partner and had an 850 credit score when they filed bankruptcy.  It isn't necessarily fraud.  Check with an attorney but, it would only be ID theft or fraud if they presented a credit report that wasn't theirs. 

Thirdly, nobody asked, but I will state here. It is okay for someone to print out their own credit report and give to a landlord.  Because if you pull it, it is a hard hit and depending on their goals in life (college, need student loans, new baby on the way, anticipating needing a new car), then a hard hit impacts them for a long time.  Thus harming the prospective tenant. And frankly, unless someone is a bank or a court order, nobody should give out their EIN unless you can guarantee me AND accept liability for lack of competent record retention, putting me at risk of ID theft.  One in 4 ppl now have been a victim. I don't give mine out except to regulated institutions - period.  No matter who you say you are.  A copy is sufficient - or show the letterhead version to the landlord.  

A friend had an aunt die last week.  They are potentially desiring to put the property up for sale on BP.  The other spouse was in the hospital when she died.  And if they live, will head to rehab after hospital. So their question is this, before signing up for BP.  Due to obvious problems with security, people breaking in, knowing the owner is incapacitated, children not living around the corner, is the address required for them to advertise in the Marketplace?  Otherwise, they are looking for another way to advertise once the property goes through probate.  As the surviving spouse, if they make it, may go live with one of their children.  
1) So is address required for advertising in Marketplace?  2) If so, they can't advertise here. 3) So, where can they advertise?  Does Hotpads and others require the address? I believe Zillow requires the address (correct me if I am wrong).  All help appreciated to help this elderly widower. 

In reply to Erik Whiting, this post.

Erik Whiting Real Estate Investor from Springfield, Missouri

Thomas S. has a point about obligations due under a lease, and I will expand on it just a tad.

Yes, you do need to do everything by the book as others have encouraged. My policy is we will accept an Early Lease Termination (ELT) request for a fee equal to 6 weeks of rent. The tenant must also give 30 days notice and pay rent for that month, remove all personal property, and leave the unit "broom clean". They do not forfeit their Security Deposit automatically, and it will be refunded less damages and cleaning beyond normal wear and tear.

~~~

Yes, indeed.  You must follow the law or the landlord could find themselves liable.  Some of the advice given here, to me, was flat out dangerous.  Just because someone goes to jail does not waive their rights, civil rights, bundle of rights etc.  Plus, what if the person is eventually exonerated under an innocent relief process?  Every situation is different.  If the landlord follows the law, then you don't have to prop up the truth.  It will stand on its own. 

Back in the day, it was the home of the General Motors Lakewood automobile plant.  Then when it closed, the ripple effect of every dollar being spent, 5 times, eventually affected the whole area. 

Jimmy Martz - go look at Alexander's profile.  It explains it.  He works for a lender.  Good way to learn.  Best way to learn, from the inside.