Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Ted Klein

Ted Klein has started 32 posts and replied 162 times.

Post: Tenant Applicants say the dumbest things

Ted KleinPosted
  • Investor
  • Redmond, WA
  • Posts 169
  • Votes 58

@Jack B. So how do you get around the rules if it appears to be a bogus claim to skirt the no pets policy? I have had numerous people claim this and while I don't want to discriminate against someone who truly needs / requires a service animal, I want to understand how to avoid these scammers who are trying to bend the rules.

Thanks for all the great replies, It looks like I clearly gave the applicant too much time and let them get away. Any clarification or additional methods to facilitate a quick turn around would be greatly appreciated.

@Kim Meredith Hampton You mentioned that they "give a holding deposit" How much are you requiring for this deposit? Is this a non refundable fee in case they change their minds as happened in my case.
@Deanna McCormick I really like your approach, so they have basically pre signed the documents at the showing and then you are doing your background checks? How is a pre signing handled? If they have signed the lease then isn't that sufficient, or are they just returning to get the copy with your signature? Please elaborate

If all works out then you sign the lease and they

@Curt Smith How is you reservation contract structured? Are their timelines where the remaining funds and lease agreement must be paid or they loose the fee? Do you happen to have a copy of this that you could share?

@Colleen F. It sounds like I just didn't act quick enough, these were "model tenants" and given that I didn't act soon enough to @Jim Shepard "take them off of the market" I suspect they just kept looking and found something else and were quickly accepted and signed. I have been continuing to show but to my mistake, I didn't collect a deposit when I had a bite.
@Donald Howaniec How are you having them "quick pay their deposit"? Cash only?

@Jim Shepard What are you using to do your background screening? Does this return eviction reports as well?

@JR T. Unless I am wrong, I believe I am able to prescreen everyone regardless of Fair Housing as long as I don't discriminate in a protected class. Smokers are not a protected class, stating no pets doesn't discriminate against anyone and requiring adequate salary to pay the rent isn't a problem either as far as I know since it is not a section 8 property. Can you elaborate on what your concern is?

How long do you average from the first point of contact until you have a signed lease? We are currently interviewing for leasing one of our units and I am wanting to know what most people are averaging.

We have had several inquiries and after pre-approval invited a few to a group showing. Out of the bunch, we had one couple who was really interested and they filled out an application. The credit history, background check, salary verification, references and eviction history all came back good so we approved them.

We had a couple of small items we wanted to finish before signing the lease and turning over the apartment, so we agreed to meet at the apartment two days after the approval to sign the lease and collect their deposit and rent money for the first and last month.

Anyhow, tonight they sent an email indicating that they had changed their mind and would not be renting the apartment.

Looking back at my email history, from our first point of contact until the cancelled, it has been 6 days. They were going to sign the lease on the 7th day after we first began communication.

Is that too long of a period? Should I have made it a point to meet with them and collect a deposit to hold it until the lease was signed? If so, how would this have been handled or was I correct in just waiting until lease signing?

Post: Tenant Applicants say the dumbest things

Ted KleinPosted
  • Investor
  • Redmond, WA
  • Posts 169
  • Votes 58

So I am taking calls prescreening tenants and one calls that seems like the perfect fit, salary is 3x rent, no smoking, verifiable references from previous two landlords, no pets etc... She even says that she works at the coffee shop down the street. Hearing that I start to have my doubts about her salary, but she assures me she makes enough so I invite her to come to the open showing I am having that evening.

She is the first to arrive, driving a very nice car, dressed to the hilt, walks through the house and loves it. I happen to mention that I recognize her from the coffee shop and offer her the application.

As I do with everyone, I begin reviewing the qualifications again and when I mention salary 3x rent, she states that she is going to be getting a raise and she will make enough, strike one. No smoking, well only occasionally, strike two. Verifiable references from previous landlords, umm, I don't know their name, strike three. No pets, oh yeah, I have a 80 lb. dog that is a service animal.

Not having any apparent disabilities, I politely ask if she has a certificate and she says she does so I continue with the remainder of the qualifications and she leaves.

I wasn't going to discriminate about her service animal, however, I begin to realize she must only need the service animal at home, as I have never saw it at the coffee shop and she didn't have him with her then. Luckily she already had three strikes.

I suspect that she can't find anywhere that she meets qualifications, let alone with a small horse and may be using the service animal claim to improve her chances. Am I wrong in thinking that service animals are full time? Or are there instances where they are only needed at home?

Post: Any truth to this? (Facebook meme)

Ted KleinPosted
  • Investor
  • Redmond, WA
  • Posts 169
  • Votes 58

@Curtis Bidwell

Curtis, could you clarify the DNA testing requirement? Have you had any challenges to your requirements since your last post?

Post: Off Market deal where seller wants to re-write my offer

Ted KleinPosted
  • Investor
  • Redmond, WA
  • Posts 169
  • Votes 58

I guess I might add additional clarification the house is not listed on the MLS, and I do not know for sure, but I suspect the broker has a agency agreement with the seller.

I am reading Washington RCW 18.86.060 in regards to Dual Agency, but I am no expert and could possibly use some guidance on how to move forward in this situation.