All Forum Posts by: Toby D.

I think Smartmove is crap....they don't do anything to verify income, they allow the potential tenant to put in what their income is and then they make a determination from that and credit score. Yes sometimes they will catch criminal activity but not always.  Also, my last 2 potential tenants have had evictions within the past 5 years and it did not detect it.  Interestingly both of them disclosed this to me...I have lost all faith in Transunion Smartmove....I can do a better job on my own with local resources and a little effort on my own.  My first tenant was an "approve" and they were bums and had to be evicted after 3 months....my best tenant was a recommend "denial" bc of credit score and they have been with me for 2 years and I couldn't ask for better tenants....so If you use SmartMove, do you own due diligence and don't just go with their recommendation.

Thank you

I would have asked the potential tenant "why" he wanted to pay the entire thing upfront? Do not allow a potential tenet offering to pay more or pay in advance to blur your natural instincts. I'm not saying this is the case here but a lot of times, less than desirable, tenants will offer things like this. Do your screening!!! I allow dogs under 15lbs, $250 pet deposit that is non-refundable and an additional $10 per month added to the rent. This is per pet...so double it for two.

Hey guys, I'm buying my first college rental...I need some help with the lease agreement. Does anyone have one they use specifically for college rentals that they wouldn't mind sharing with me?

One of the biggest problems with unrealistic expectations is that many of these people that have these expectations are LAZY and expect a great deal to fall in their lap with out doing any hard work to find it. I have one guy that contacts we weekly with the next "great" deal but has NO clue how to evaluate a deal, what questions to ask and what to look for. When I explained to him how I found my 10 properties, his comment was "wow that's a lot of work, I don't want to spend that much time trying to find a property". LAZY!!! Are expectations unrealistic...sure they are, the newbies hear these great success stories and feel entitled and don't do the hard work to find them...is it BP's fault...of course not..Get off your lazy butts and do some real work

You need to set some ground rules as to when she can contact you, how and if you have to make a trip there and it's a nuisance call, you will charge her a $50 trip charge...nip this in the bud fast our she will make your life miserable. She is crazy high maintenance. Get tough. I've had to do that with one of mine and things got much better, but until you put your foot down it will only continue.

Great points, one day when we sit down together I will be more than happy to share some of my numbers, but most of my properties have been purchased for under $27,000 and all rent for $975-1250. I have been very fortunate to find landlords that were tired of being a landlord and have sold me their properties at a great price. None have every been on MLS, I do a lot of research, networking and marketing to find my properties.

William S. what's her issue with lights and outlets? A new tenant should expect all fixtures to work and there be light bulbs in all lights, and all outlets should be operational..if not, you should have addressed that before she moved in. I hope you have laid out her responsibilities in your lease, in regards to maintenance and upkeep. Don't be afraid to say "no" if she is asking for something unreasonable. The sooner you learn to say "no" the easier your life will become.

Braden Smith we are talking different terms...my CAP rates are over 20% I get more than 2% of the sale price per month in rent, not including HOA Fees

Tenant paying for renovations is a messy thing...you must have something in writing so she doesn't try to claim it was a "trade-off" for paying rent. Also you must hire the contractor, you want to make sure the work is done right and according to code. And if she wants to pay for it, get the price and have her pay in advance!!! No reimbursing or having her pay the contractor...you are ultimately responsible bc it's your property!!!!