All Forum Posts by: Lane Berry

Besides the obvious credit, background, and income verification. I'd suggest a rental verification as well. Call the past 2-3 landlords where the tenant previously lived. To confirm, did they pay timely and what kind of condition the property was left in. 

No you don't need a license for those jobs. Usually at least some kind of customer service experience is necessary. 

Hey @Helena Goyvaerts

We have several foreign investor clients. Let's connect and discuss your needs to see if we could be a good fit. 

@Andy Ptak

Leasing agent at multi-family properties can be entry level. They are a great way to learn the day to day of the PM world. 

Hey @Akku Kumar,

Very exciting time getting that first rental property! My advice would be to really focus on placing a quality tenant. Sometimes new investors can be eager to hit a certain rental amount, pricing a property above market value. This attracts poor unqualified tenants because they have no option but to overpay. Ultimately, leading to issues down the road (eviction/habitual late payments)

@Pamela M. We could help make is passive income and get you out of the Day 2 day. Shoot me a DM, if you would like to discuss!

Hey @Sydney George, we have one our clients use often. Shoot me a dm would be happy to refer!

@Jacob Swihart Michael is spot on, I can't tell you how many horror stories I've heard from landlords who had agents give them terrible tenants just to get that commission asap. We have a dedicated leasing team that leases all our properties with extensive background checks to find the right tenant not just the first. If you would like more info just let me know. 

@Jacob Swihart

Your insurance will go up as Gustavo mentioned since it would be a rental income property. Also, you will lose that homestead and have to pay taxes on the rental income. Given the current rental market in Houston, you shouldn't expect much monthly income. The main benefit is continuing building that equity. Then, if you add more assets there could be some tax benefits.

As for as finding tenants, if you don't use a management company or leasing service/agent. I'd recommend just listing the property on Zillow and other similar sites. The key is to price it at the market rate. If overpriced, you with attract unqualified tenants. Placing the right tenant is crucial, don't just rush into a lease with one because you want the property filled. Ultimately, late rent/no rent payments or damage to the property can be extremely costly. 

Tenants don't care about the lawn like an owner would. They pay and you coordinate is always the best course of action to ensure it is being done.