All Forum Posts by: Rob B.

@Cliff H. I want to make sure I fully understand your question; is it just with regard to how the documents are uploaded, or simply that they can be uploaded as part of the application process? 

I want to make sure I'm proposing a recommendation that appropriately addresses the question/need.

Hi Nathan! A lot of great resources both here on BP and in Chicago. Sounds like you're looking into the BRRR strategy and house hacking; once you do finally make the leap and acquire that first property, feel free to reach out; definitely can help you with some resources to make managing your own rental a much easier process (ie. thinking through the entire rental process, there are tools that can help you to bring a certain level of automation to the process; listing, tenant screening, lease creation, rent collection, and maintenance tracking, all in one place). Let me know if you have any questions. I'd be happy to help get those answered.

@Tri Huynh - Rachel is spot on! Definitely a good idea to keep a tool in mind that can help you to take care of listing, tenant screening, lease creation, rent collection, and maintenance tracking. Let me know if you have any questions! I'd be happy to help get those answered.

Just DM'd you! Let me know if you have any other questions and I'd be happy to get those answered for you. @Morgan Gruelle 

@D'Andre, if you do decide to make the leap into buying a rental property, there are a number of resources out there that can make managing your rental process super easy (no need to hire property managers when there are platforms that help to automate the rental process for you by offering the tools to list, screen tenants, create + sign digital leases, collect rent online and manage maintenance requests). This would make the management process easier and might assuage some of her concerns if she's unsure about what is required throughout that rental process. 

Keep this in mind as you and your new fiance decide how you'd like to proceed, as far as strategy goes. Sometimes property managers can charge anywhere from 6 - 10% and there are other more cost-effective ways to get the most out of your rental property. Let me know if you'd like any recommendations! 

Tackle those student loans, first and foremost. If the interest rate were lower I might suggest otherwise, but at 6% - 7.2% it is best to drive that debt down first. I hope this helps! And best of luck. Once you do decide to get things moving with a rental, I definitely have some recommendations to make managing your rental process easy. 

@Morgan Gruelle - great question! Now that you have the property, set your goals/expectations and get the property listed. If you're looking for a tool that offers you the ability to not just list but also screen tenants, create + sign a digital lease with your new tenants, collect rent online, and manage maintenance requests (all without needing to hire a property manager), I definitely have a recommendation that can make this process easier. Let me know if you need any help getting started! 

Hi Michael, interesting strategy for your SFH. If this was a standard rental process then yes, I'd recommend going through the process of applications/screening steps, a background check, and then require the deposit; since it sounds like the house is being rented to transient workers though, the very nature of the work situation calls for a bit more flexibility on the renting end.

Just a suggestion, it could be that for something which feels a bit more temporary/shorter time warrants a bit more flexibility from a screening standpoint. It comes down to setting expectations; did any of the applicants provide specific, detailed reasoning for backing out? 

This can definitely help as far as making the right adjustments to your strategy (since it sounds like you had 4 qualified leads and you don't want to lose out on another, that feedback is crucial; they completed the applications but didn't proceed past that point - sounds like it could be a deposit issue). Again, it is about setting the expectations early on and with the nature of the applicants being more transient with their work, you may need to reconsider the strategy. I hope this helps! If you decide to go a different route and do sign a longer-term lease feel free to reach out. I may have some recommendations around resources you can use to make managing your rental process easier. 

This! Alan is spot on.

Don't want to over-repeat what others have already said as far as getting the property listed and rented; that said, there are a lot of great services out there that you can lean on. I can think of one in particular that would help you with not only getting the property listed, but can also help you to determine the appropriate rent range and can help you to cast an even wider net by getting that single listing syndicated to over 12 major listing sites. Feel free to DM me for more information. Also, listings with excellent photos tend to generate a lot more genuine, organic interest (so even if a perspective tenant doesn't decide to rent, they're more prone to share via social media channels). I hope this helps!