All Forum Posts by: Thomas Hayworth

@Angela Yan - Makes sense. Tellus lets you create financial reports based on the data you input into the app. So as long as you've been tracking things, it's easy to make and export the right documentation for your CPA.

@Hayden Haddad - You know your agent and your market. If you say there's no emotion involved, then go with your gut. And let us know how it goes.

I'd recommend Tellus. It sorts expenses by property and category, which makes everything really easy for taxes. The financial tracking component was what originally drew me to the app, but it also lets you collect rent and chat with tenants.

@Charlotte Chew I also use Tellus and transfer times have been fast. To answer your question about paying in cash, it's generally problematic because it's easy to dispute how much was paid. Plus you have to pick it up in person, which could be risky depending on your area. Your time is valuable! Don't waste it picking up rent in person.

"Accepting multiple offers" may be true, but it's often a scare tactic to drive up the price. I don't know your area, but offering full price would seem to put you in a good position. Keep in mind all the work that needs to be done and don't forget to get an inspection done. There may be a reason the price is lower. With deals like this, it's best not to let emotion get into it. If you want to up your offer, I wouldn't do it by too much, just enough to show your interest.

Hi @Brielle Williams - I had to provide all that info too. Bank accounts make sense if you're collecting rent, but I wasn't expecting to submit ID and proof of address. I asked their support about it and was told it was to help prevent fraud. I complained about it being so cumbersome, and they told me they were working on putting in a new verification system. When I added my second property, it was a lot faster.

Hi @Leslie Mangrum - I don't have a separate agreement. I just specify in my lease that I want to receive payments through Tellus. Haven't had problems so far.

@Leslie Mangrum - Congratulations on the purchase! I also use Tellus and like it a lot. I have multiple properties and the app scales pretty well.

I agree with Cassi. Students and traveling nurses are two groups that I've known to look for furnished units. If you're advertising a long term rental, unfurnished may be less of a headache. 

If you leave it furnished, then you need to inspect the furniture each time for damages. This will have to go on your move-in inspection. In my experience, furniture is a lot easier to damage than walls and flooring, but what counts as damage versus wear and tear can be a little more subjective for furniture.

I don't think it ups the value enough to make it worth it. Unless it's already there and you don't want to move it or care what happens to it. In that case, go ahead and rent it furnished!

There are lots of options available. I personally use Tellus to find and screen tenants. They help you list properties on a ton of websites and then give you the option to screen applicants for free. I'd recommend checking them out.