All Forum Posts by: Rehan A.

In my area, Section 8 doesn't pay market rates so it's a non-starter. If I can fill a vacancy within a week and get full market rent, dealing with the extra hassle of Section 8 just doesn't make sense. 

Haven't heard anything yet about state or local government ceasing the ability to collect rent but I did see that the City of Los Angeles has established a moratorium on evictions due to COVID-19. 

What would the break-even period be on the improvements cost vs the increased rent that you would receive? If mom can hold out, I would wait until the current tenants decide to leave on their own and improve the property at that time. You will be able to market all the brand new improvements to the next tenant and also be able to ask for higher rents at that time.

My guess is that while your current tenants may be willing to pay a little more rent after you upgrade the place, the increased rent amount will not be in line with market rents. 

No you can't charge extra rent or a pet fee, but I don't believe there's any rule against increasing the security deposit or having the tenant pay for any damages that occur due to the animal being on the property.

I read about a landlord requiring any tenant with an ESA to agree to pay for the cost of flooring replacement upon move-out due to the fact that having animals inside could create allergies for future tenants. Not sure if that's legal though. 

Just another data point, I self manage SFRs in Northern California. I provide a microwave, dishwasher, and range/oven, but no refrigerator/freezer or washer/dryer. The less I provide them the less I have to maintain or worry about servicing.

Even then I have had tenants who move in and then suddenly start claiming that all the appliances don't work in one way or another so that they can get brand new ones. There's nothing wrong with the appliances but sometimes tenants just want to get everything brand new. When I was a noob in the beginning, I would be more lenient in replacing things for small issues just to placate tenants but now I stay firm on not replacing items that can easily be repaired or are just older.

I list a minimum credit score of 600. Before I started doing that, I would get lots of people asking what the credit score requirements were and also lots of applications with scores well below 600.

If you don't list a minimum credit score requirement and then use an applicant's credit score to disqualify them, you may be opening yourself to claims of discrimination, or at the very least a non-transparent selection process which applicants may find frustrating.

Hey Maria. I'm a SFH investor in the Sacramento suburbs and do the same thing that you're proposing. I take quality pictures and ask that anyone who is interested in the house to first drive by the area and make sure the neighborhood fits their needs. Then, if they're interested in seeing the inside, they need to meet my requirements and fill out an application.

Anyone who applies and doesn't meet my requirements gets a short email letting them know that they didn't meet the requirements for the property. Everyone who did meet the requirements gets a date and time to show up and see the inside of the place. I usually schedule everyone for the same 90 minute window so that I don't have to wait around for no-shows and waste too much time. 

To answer your questions:

1) No need to really sugarcoat this. I simply let people know that I have too many people interested in the property and I don't have time to show it repeatedly. There will be a showing for those who have filled out an application and meet all of the minimum selection criteria.

2) If someone doesn't qualify, let them know early so they don't waste their time waiting for you.

3) Yes, there is nothing illegal about discriminating against tenants who don't meet your minimum selection criteria as long as you consistently apply your requirements across all applicants. The entire point of screening is to discriminate against those who don't meet the requirements so that you can minimize future headaches and protect your investment. 

For the tenant who already applied before you put up minimum requirements, I would probably refund their application fee and not show them the place. If someone before applying tells me something that I know would disqualify them from being selected to rent the place I usually encourage them not to waste their money on application fees. 

Hope this helps!

The volatility will make you rich. But if you don't want to hold bitcoin you can use a payment processor like Bitpay which will allow you to accept bitcoin and convert it to fiat without any volatility risk.

@Alexis J. -- I do see the little authorization blurb at the end of the completed application but how do I go about sending this consent to the applicant's landlord or employer without sending them the entire application page which has personal details on it. Taking a screenshot of just that section and sending it comes across as pretty unprofessional and they really don't have any way to verify that its real.

For everyone using Cozy, how do you verify the applicant's rental history? Most places require some sort of form stating that the applicant has agreed to let employers and current/previous landlords release information regarding them. Cozy does not offer anything such as this.