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All Forum Posts by: Susan H.

Susan H. has started 27 posts and replied 224 times.

Post: Do you accept cryptocurrency for rentals?

Susan H.Posted
  • Investor/Landlord
  • NWA, AR
  • Posts 227
  • Votes 131

I agree it's not (yet) a stable currency. I'll be interested to see if/how this changes. In the meantime, I'll keep saying no. <smile>

Post: Do you accept cryptocurrency for rentals?

Susan H.Posted
  • Investor/Landlord
  • NWA, AR
  • Posts 227
  • Votes 131

Would you accept bitcoin or another form of cryptocurrency as payment for rent?  (See for example https://www.inman.com/2018/01/04/landlords-increas....) My rentals are in a university town, and prospective tenants are asking me if I'll accept bitcoin. At this point I do not, but am certainly open to hearing why others do accept cryptocurrency.

This morning's report of a major "hack" (see http://money.cnn.com/2018/06/11/investing/coinrail-hack-bitcoin-exchange/index.html) has me wondering how landlords can protect their income if paid this way. 

Post: Tenant simply doesn't respond

Susan H.Posted
  • Investor/Landlord
  • NWA, AR
  • Posts 227
  • Votes 131

@Joe P., thanks for the follow-up, and for sharing your experience with us. I always learn something here at BP/

Best wishes in your new venture!

Post: Zillow Tenant Screening Service

Susan H.Posted
  • Investor/Landlord
  • NWA, AR
  • Posts 227
  • Votes 131

After receiving email about this new service, I posted a note in a FB group for landlords. Someone from the Zillow group (also a member) responded with this:

<<The goal of this product is to bring several processes that have traditionally happened offline, and bring them online, smoothing the overall experience for everyone. Similar to our current Renter Profile product, which allows renters to submit a bit about themselves for landlords to preview, applications is now a more formal way to review prospective tenants. Landlords can choose to enable or disable application and screening which controls whether or not their listing has an “Apply Now” button, or simply a “Request to Apply” option. Yes, tenants can apply themselves, but landlords can also still initiate an application through an invitation.


I completely understand your concern about taking the necessary steps before sending an application, and that’s why we encourage renters to reach out to the landlord and tour a place before applying. We have purposely kept our main call to action as “Send a tour request” as well as “Ask a question”. We think these are the best way for renters and landlords to have initial contact to see if it is a good fit.

We think renters will love this product because right now they have to pay a separate application fee for every rental they apply for. Versus being a “pay-to-play” system, the low once monthly fee actually can save renters money over time, as we know from our research that most apply to at least two rentals during their search.

Providing a product that enables landlords to comply with local laws is incredibly important to us. Our product and legal teams have worked very closely with Experian and Checkr, who are providing the background and credit reports, to make sure our application and screening process enables landlords to comply with applicable laws. We will continue to keep a very close eye on all local and state laws and do our best to tailor our product to areas with specific exceptions.

We are not taking over the tenant selection process. We just want to make it easier to for landlords and renters to go through the rental application process. We appreciate the feedback.>>

I asked a follow-up question about the lack of download/print option, and this was his response:

 <<We decided not to support download/print at this time because we want to make sure the renter’s sensitive information is protected when they share it with a landlord. Our applications feature will continue to evolve and we’ll be sure to consider this request in the future if we feel that we can do so in a responsible way. Feel free to message me if you’d like to share more how you’d use the ability to print or download the applications.>>

My 2 cents in response: I'd like to see a free preliminary app with some of the most common questions asked during pre-screening. Follow that with tour of property and then the paid full application, credit check, etc.

It will be interesting to see how this works going forward.

Post: Smoking and Pets...YES OR NO?

Susan H.Posted
  • Investor/Landlord
  • NWA, AR
  • Posts 227
  • Votes 131

I have SFRs with fenced yards, and all my ads say that I welcome non-smokers who are responsible dog/cat owners. No negotiation about smokers; I politely wish them good luck in their housing search.

When showing the properties, I find folks are eager to show photos of their dogs/cats and share stories. This usually opens the door to conversations about vet clinics, training, community ordinances, etc. I meet the animals, review current vet records.No dogs/cats under 1 year of age and must be neutered/spayed. No animals with history of biting allowed (per insurance).  

I have no breed or weight restrictions. I charge a  one-time $300 non-refundable fee per household but do not charge monthly "pet rent." There aren't many pet-friendly SFRs in my town, and those that do allow pets generally have breed and weight restrictions and charge monthly fees/rent. Making my properties breed-friendly significantly increased my prospective tenant pool and allowed me to charge higher rent.  

Post: Tenant simply doesn't respond

Susan H.Posted
  • Investor/Landlord
  • NWA, AR
  • Posts 227
  • Votes 131

@Joe P.,

Did the tenants move out by the last day of their lease? Curious to know how you resolved this.

Post: Should I rent to a registered sdx offender?

Susan H.Posted
  • Investor/Landlord
  • NWA, AR
  • Posts 227
  • Votes 131

@Francis V.  could you clarify something, please? If the applicant is not the registered offender and the registered offender is in fact an adult daughter/son of applicant, were they applying as co-applicants, or was the offender a family member who might occasionally stay with the applicant? 

I've not encountered this situation and always open to learning something new!

~Susan

Post: Fayetteville Locations - Which Areas To Stay Away From?

Susan H.Posted
  • Investor/Landlord
  • NWA, AR
  • Posts 227
  • Votes 131

@Hadar Orkibi,

Pretty sure I addressed all this in a message, but just in case: yes, 265 is locally known as Crossover. 

There are some areas which may be prone to flooding, so best to check maps and ask local Realtor for info. 

I don't work with MFR, so cannot assist there.

Post: Real Estate Entrepreneur in Northwest Arkansas (Ozarks)

Susan H.Posted
  • Investor/Landlord
  • NWA, AR
  • Posts 227
  • Votes 131

@John Peine, welcome!

I live and invest in Fayetteville. I got started much later in life than you did, and currently have three SFH rentals. Happy to share any knowledge I can with you!

~Susan

Post: Inherited tenant awaiting trial for MURDER

Susan H.Posted
  • Investor/Landlord
  • NWA, AR
  • Posts 227
  • Votes 131

@Sam Rogers best wishes on a peaceful resolution.

I haven't had this experience so am only speculating. (No legal advice here...) I would check to be sure you're complying with local/state laws and would send a certified letter to each tenant announcing tenancies will be terminated.  

Maybe say "This property was recently sold. This letter serves as notice that all tenancies will be terminated effective May 31, 2018. All occupants must remove personal possessions and surrender the premises to no later than May 31, 2018. 

I am notifying you now so that you have time to secure a new residence. If you move out earlier, I will return the prorated amount of rent already paid."

 [You could add in any info about security deposits if they've paid them.]

I'd send it certified or with proof of mailing, etc. Keep us updated on what happens, and good luck!