Learn local landlord-tenant laws, FHA and VA loans, and property management software to streamline rent collection and maintenance.

Depending on what softwares you use they can usually pay for the background check themselves.

And, Turbo tax Business software is $163.

I highly recommend investing in a property management software, such as Hospitable, for syncing your calendar, automating messaging, and scheduling cleans, as well as a dynamic pricing tool, such as PriceLabs, for optimizing your pricing based on market demand, local events, and seasonality. 

We use the collection service through our PM software, but most of these folks become virtually uncollectable at a certain point. 

Nightpricer is dynamic pricing software created by vacation rental managers to save time and find the nightly pricing “sweet spot” that maximizes revenue and occupancy.

Yes, having tenants pay ACH via a Tenant Portal software is best, but not all will cooperate and some will play games that result in NSF charges.We allow tenants to deposit cash/check/money order directly at our bank into our account.Many Class C & D tenants have challenges adapting to unfamiliar ways to pay and is often not worth the hassle (and possible evictions) to get them to change:(

@Jim LynchSome typical minimum tenant screening requirements look like the following, but it depends on your market:-Renter has a gross monthly income of 3x more than the monthly rent-Minimum credit score of 650-Renter must have no prior evictions-No felons (or other notable criminal history)There are a number of different tenant screening softwares out there such as Zillow Rental Manager, TransUnion SmartMove, etc.Be sure to complete an employment verification by contacting the renter's employer and confirm the details they shared with you, landlord verification (if they have a previous landlord), credit check, and background check.

I use Avail software and it will list your property on 10+ websites. 

If you ever have questions on landlord software or student housing, I'm a great resource!