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All Forum Posts by: Kathy Kifer

Kathy Kifer has started 5 posts and replied 26 times.

Post: Applications for Mid Term Rentals

Kathy KiferPosted
  • Posts 26
  • Votes 10
Quote from @Nick Zupec:

I'm a little late to this thread... but I screen my MTR tenants just like LTR tenants too. I have a subscription to Adobe Acrobat which is only $13/month and lets you create really nice fillable PDFs that are easy to use and can be signed electronically. I email these to potential tenants and 90% of them fill them out electronically and email them back. 10% still print it and fill it out with a pen and scan it to send back and that is fine too. The last page is the authorization to do the credit and background check. I'm generally less concerned about the traveling health professionals, but I still like to make sure they meet all of our criteria. This also protects us from fair housing or discrimination claims because we have the same standard process that we use for everyone.




@Nick Zupec - After writing this post, I went ahead and created an electronic application to be used in DocuSign. I've decided to do just as you mentioned also......screen just like LTR. Had to make a couple wording tweaks to the lease, but for the most part, the same lease as I use for LTR. Glad you mentioned the Auth for Credit and Background.....I'm still going to do that also, even though I have the renters use SmartMove. I've tried to follow the same process as a couple Real Estate agent friends when they write up a lease here in Texas.

Post: Notice of Termination

Kathy KiferPosted
  • Posts 26
  • Votes 10
Quote from @Edward Adams:

In Texas, the law requires a minimum of 30 days' notice for termination of a month-to-month lease. However, for leases shorter than one month, the notice period can be shorter, as long as it is stated in the lease agreement. So, for example, if you have a 3-month lease, you could specify a 15 or 20-day notice period in the lease agreement. It's important to note that if the lease agreement specifies a notice period that is shorter than the legal minimum, the legal minimum will still apply. It's always a good idea to consult with a local attorney to ensure that your lease agreement complies with all applicable laws and regulations.

Ok Thank You.

Post: Notice of Termination

Kathy KiferPosted
  • Posts 26
  • Votes 10

How many days do you indicate on your leases for Notice of Termination for the 1 month to under a year leases?

I use 45 days on my 12 month leases, but of course that doesn't make sense if you have a 1 or 2 month lease.

I'm in Texas and I was trying to research the law, and just kept coming back to 30 days. But did look like it might could be less, if written in the lease (which I am trying to do).

Would appreciate feedback. Thanks!

Post: Keeping rental income separate

Kathy KiferPosted
  • Posts 26
  • Votes 10

I have some in a LLC and some not. Regardless, To lessen confusion at my credit union, since that is where my personal accts and these separate rental accts are, I have my rentals nicknamed. I use debit cards with different pictures (Im in Texas and my credit union offers cards with different Texas pics) and write the nickname of the property on back of the debit cards with a sharpy. That way at Home Depot or where ever, it's just easier to find the right card! :)

Post: Applications for Mid Term Rentals

Kathy KiferPosted
  • Posts 26
  • Votes 10

Thanks for your input everyone! @Jamie Banks, mine is a house hack also :). That google doc idea is actually pretty smart!

I'm going to be requiring renters insurance, and it seems that there is varied opinions on that also. I would rather be safe than sorry, is the way I look at it. My place is btw 3-4 miles from 2 brand new Children's Hospitals. I am a nurse by background, spent close to 30 yrs in the medical field. I'm pretty sure I won't have an issue renting :)

Post: Applications for Mid Term Rentals

Kathy KiferPosted
  • Posts 26
  • Votes 10

Hi all,

My first post in this group. :)

I manage my own long term rentals. Part of my process is to email or hand the potential tenant an application to fill out (with pen) and they will either scan and email back to me, or hand it back. That application also has a form they sign authorizing me to ask for their credit history to be pulled thru SmartMove/Transunion. 

I've become confused with all these Mid Term rental "tutorials". I'm not seeing anyone mention sending an application. They seem to go from making contact with the potential tenant to pulling the credit, and if good, sending lease. I haven't paid for any of the Furnished Finder forms yet, but I'm not positive an application is part of the package. Am I missing something here?

For those of you that have Mid Terms and do send an application, is it all electronic or is asking these mid term tenants to print, fill out, and scan back, an ok practice? I don't want to come across as a dummy! LOL. The application that I use is very thorough, asks for occupation, who will be living there, cars, etc. I use Docusign for my leases, but docusign with that application with the formatting gets to be a mess.

Thoughts?

Thanks!