All Forum Posts by: Rob B.

Hi Joe! There are a ton of great resources out there; definitely worth exploring an option that will allow you to create a single listing and then have that listing syndicated to over 10+ partner sites, including the major listing sites like Zillow, Trulia, Hotpads, etc. — and yes, you can even share it to Facebook. Especially worthwhile to consider a free option. This way you don't have to go from one platform to the next, creating one listing after the other. Definitely some good options out there worth exploring! @Joe Tan

Hi Ibrahim — great question. There are a lot of tools that can help you to self-manage the rental process. Aside from providing the basics (ie. listing capability to get the property published to 10+ major sites; scheduling tool to schedule viewings, etc.), you can also establish your own tenant screening process. With comprehensive applications -- including pulled reports from TransUnion and nationwide criminal background checks + credit score + full credit history breakdown + eviction history -- the right platform should make it as seamless as possible for you if you're managing on your own. Depending on the tool you use, it can be a great way for the prospective tenant to only need to pay an application fee once (which would include current credit score and a breakdown of their credit history, nationwide background check, and eviction history). This way, if they don't successfully get approved to lease your rental they can still take that application and apply for another listing without having to pay for another app within the time frame of 30 days. Again it is always of best practice to make your own decision based on whether or not the applicant has met your screening criteria. Could be worth it to give it a try as you enter a new leasing season. I hope this helps! And best of luck on your decision! @Ibrahim Yamini

Hi Simon, that is an excellent question and allow me to provide a few thoughts here. Few things you'll want to pay attention to as you prepare to list your property:

• Determine the rent price that you want to set for your rental property listing (important to leverage local rent range data, however, I'm sure you did your due diligence during the planning phase prior to purchasing the property so now it is time to act in accordance with the numbers that you ran). 
  
• Create an impressive rental listing with a description and photos.
  
• Advertise your listing for free across popular rental listing sites.
  
  
• Set up times for people to come by and view the place (some prefer open house showings so as to drive competition, while others will only do individual, one on one showings; not making a case for either or, just stating that you have this ability). BUT, during C-19, I think we're seeing far more rental owners actually turn towards virtual listing tours as a potential route (so as to keep everyone safe - prospective tenants, landlords, and possible current tenants).

In terms of getting the listing created and up on multiple sites, there are definitely some tools that can help with self-managing the listing and tenant screening process without needing to shovel out a ton of money to a property manager. 

Aside from providing the basics (ie. listing capability to get the property published to 10+ major sites; scheduling tool to schedule viewings, etc.), you can also establish your own tenant screening process. With comprehensive applications -- including pulled reports from TransUnion and nationwide criminal background checks + credit score + full credit history breakdown + eviction history -- the right platform should make it as seamless as possible for you if you're managing on your own. Depending on the tool you use, it can be a great way for the prospective tenant to only need to pay an application fee once (which would include current credit score and a breakdown of their credit history, nationwide background check, and eviction history). This way, if they don't successfully get approved to lease your rental they can still take that application and apply for another listing without having to pay for another app within the time frame of 30 days. 

Again it is always of best practice to make your own decision based on whether or not the applicant has met your screening criteria. Could be worth it to give it a try as you enter a new leasing season. 

I hope this helps! And best of luck on getting the place rented out! @Simon Obas

Hi @Carlos M.! Definitely not a bad choice with Cozy, but certainly other options out there that are probably better suited for what you're trying to accomplish as an independent DIY rental owner. Contactless (online) payments is a big deal given the current state of things during C19, especially with the right platform that allows your tenants more options (ie. debit/credit card option, ACH payments, or even expedited payment processing, along with rent/payment due date reminders, and the ability to report positive payments to TransUnion in order to give your tenants' credit scores a boost; this acts as an added incentive for them in the long run as well). Either way, congrats on getting started with your real estate journey and I know you'll make a great choice. 

Hi Mary! I should be sure to get some clarification here - are you solely the property manager? Or do you also own the properties? If you are the owner and are interested in self management, there are a lot of great options out there to consider. I might recommend taking a look at the Bigger Pockets PM software reviews page. Just keep in mind that there are a lot of tools that can help with self managing the entire rental process (ie. listing, screening, leasing, automated online rent collection, maintenance tracking, and more). Many of these platforms are here to help you establish your own process while still guiding you through the basic, but necessary steps. I hope this helps! And best of luck on your decision! 

@Mary Jay

Most of the online credit check services have a partnership with one of the credit bureaus. Ideally you'll want an option that  allows you to get a deeper look into their credit profile (credit history, breakdown of their credit score, accompanying remarks) as well as other parts of that report pull (ie. nationwide criminal background check, eviction history check, sex offender registry check, etc). Experian has also ran into quite a few security issues in the past which is a good reason to consider on of the other major credit bureaus like TransUnion. I hope this information helps! @Alexis Marie

A lot of great advice on here already. An LLC is a really great route to go. If your company is not incorporated and you are sued, your personal assets may be at risk. If you form a legal business entity, the company is named in court, rather than you personally. In most cases, this means that your personal assets are protected if you lose a liability case. Keep your personal assets protected!

Hi John, I'm sorry to hear you're dealing with this issue, especially now.. Since your tenant is on the way out and you need it listed asap, there are definitely some tools that can help with self managing that listing and screening process.

Aside from providing the basics (ie. listing capability to get the property published to 10+ major sites; scheduling tool to schedule viewings, etc.), you can also establish your own tenant screening process. With comprehensive applications -- including pulled reports from TransUnion and nationwide criminal background checks + credit score + full credit history breakdown + eviction history -- the right platform should make it as seamless as possible for you if you're managing on your own. Depending on the tool you use, it can be a great way for the prospective tenant to only need to pay an application fee once (which would include current credit score and a breakdown of their credit history, nationwide background check, and eviction history). This way, if they don't successfully get approved to lease your rental they can still take that application and apply for another listing without having to pay for another app within the time frame of 30 days. Again it is always of best practice to make your own decision based on whether or not the applicant has met your screening criteria. Could be worth it to give it a try as you enter a new leasing season. I hope this helps! And best of luck on your decision! @John Cho

Definitely want to make sure you start marketing your listing before your current tenant's lease is up, however, there are some restrictions when it comes to having overlapping leases. Depends on your state but generally you wouldn't have overlapping leases on the same unit. 

If you have an interested applicant and they pass your screening criteria, the lease they'd sign with you should have a lease start date that begins after the prior tenant's lease ends. @Andy Chen

Hi Andy, Great question. There are definitely some tools that can help with managing that screening process. Cozy is a good tool, but there are definitely others worth giving some serious consideration. Aside from providing the basics (ie. listing capability to get the property published to 10+ major sites; scheduling tool to schedule viewings, etc.), tenant screening is super important. With comprehensive applications -- including pulled reports from TransUnion and nationwide criminal background checks + credit score + full credit history breakdown + eviction history -- the right platform should make it as seamless as possible for you if you're managing on your own. Depending on the tool you use, it can be a great way for the prospective tenant to only need to pay an application fee once (which would include current credit score and a breakdown of their credit history, nationwide background check, and eviction history). This way, if they don't successfully get approved to lease your rental they can still take that application and apply for another listing without having to pay for another app within the time frame of 30 days. Again it is always of best practice to make your own decision based on whether or not the applicant has met your screening criteria. I hope this helps! And best of luck on your decision! @Andy Chen