All Forum Posts by: Laura Hamilton

We have prospective tenant couple that I'm not sure if we should proceed with or not. Both have stayed in their jobs for multiple years, income is sufficient, have lived multiple years in the same current rental apartment BUT on SmartMove report it came up that the other one has 1 past due tradeline count (for 6K) that was closed last year, 5 collections records (total 1.5 K.) The collections are some from medical, but also one from internet and one from insurance. The other person has total of 1.3 K in collections but they are all medical. 

What would you do? The SmartMove system did give accept recommendation but it was on the lower side of the range. 

@ Ryan Dossey - Good question. They pay their application fee by credit card by themselves through a 3rd party service I use for credit checks. But why is it in the general rental application? I remember when I was still renting, I had to fill in my back acc number too. Just trying to understand if it's required for some good reason?

@ Kim Meredith Hampton : Did you ever have applicants questioning why it's needed? If yes, what did you say? 

We just got a rental application from a serious applicant. However they didn't fill in the credit card info and bank account info. I understand that it's uncomfortable to fill in this information (especially as the rental application includes one's social security and driver's license numbers as well), but would still prefer completed application that has also this financial information. 

Q: How do I get the applicant to feel at ease about it and submit the missing information?

Q: Do you require credit card & bank account information in your rental application?

Thanks!

Laura

@Brandon Hall - thanks for the input! Luckily all properties are in the same geographical area.

@Natalie Kolodij: Ok, won't do that, thanks for the advice - I guess it was quite too creative idea anyways.

@Steven Hamilton II 

I was hoping I could deduct that mileage already in 2016, hence was thinking of putting it as a separate section C business activity 'work research finding rental property' - would that work? If not, then, like you advised, I just add it as the basis for the property currently under escrow (for tax year 2017.) Thanks so much for your input!

I am in escrow with one of the properties currently. I bought my first rental property in 2015 so I don't know if this second property would qualify as a startup expense as I've been in business over a year already. Thanks Natalie for your answer though!

Just about to buy my second rental property - however as a result in finding this one I drove to see quite a few properties the past few months. As it obviously was work related mileage, can I deduct that mileage on my tax return? 

This second rental property will be purchased soon, but it will be during 2017, yet most of that mileage occurred during the last few months of 2016. 

Hope someone can advice, thanks!

Oh and actually, we have chosen our escrow company in the past and the short sale bank had no problem with it..