Thanks. I have been in the rental business for over 30 year, and this is the first time I have to realy on others help, its very gratifying to find  help when you need it.

Thanks again,

Paul

Join the forum discussion on this post - (7) Posts

Welcome back!

Yes, employment verification is an extremely important step in the tenant screening process.  A renter needs a good job so he or she can pay the rent.  Let me give you a list of things to inquire about.

One of the most important things is to pay attention to is: who and how the business phone is answered.  Why, because some people will give you a friend to call and pretend they are the employer.  The phone should be answered with a business name.

Ask for the applicant’s supervisor or boss.  This information should have been provided by the applicant on the application.

Asking the right questions is key to getting the right info.

We ask the following questions:
-    How long has the applicant been employed there?
-    Is he or she currently employed there?
-    Is the job full time, part time or temporary?
-    How many hours a week does he or she work?
-    Verify the monthly income.  (Employers may require copy of singed authorization for this)
-    Does their job future look good?

Order an employment report now.
http://www.rentingauthority.com/employment_rental_reports/

Renting Authority Provides third party employment history reports
Log into the Property Owner’s Toolbox at http://www.toolbox.rentingauthority.com

1.    Select Past Rental and Employment Reports.
2.    Click the box for Employment Report,
3.    Fill in the needed information and we take care of the rest.

You receive your Employment Report in 24-48 business hours

The Cost is only:
$6 for Employment Verification
$6 for Rental History Verification

Only $4 each for Gold Members
Upgrade your membership now
https://www.rentingauthority.com/cc/pay.php

Click here for sample employment history report
http://www.rentingauthority.com/sites/employsurvey.htm

Click here to login and order rental history reports now
http://www.toolbox.rentingauthority.com

Troy Boldt

888-674-9181
tboldt@rentingauthority.com
http://www.rentingauthority.com

Join the forum discussion on this post - (1) Posts

Recently, I had a great conversation with one of Renting Authority’s members.  He mentioned that he always video tapes his properties before a tenant moves in.

This is really a great idea that I need to share with you.  Here are a few tips.

Date the video and show the new tenant in the video.  Hold up a newspaper if needed.

Outside: video the outside and include the yard, fence, sidewalk, stairs, rain gutter, roof (if possible), doors and locks, windows and exterior of structure

Inside
Walls: make mention of holes and paint condition
Carpet: wear, quality and condition
Kitchen: show functioning appliances - plumbing, kitchen condition
Bathroom: show functioning plumbing, cleanliness, lack of mold (I hope)

Let the tenant know you have video documentation of the rental’s present state.  Video taping will help safe guard you from lawsuits.  It is great documentation.  This also eliminates disputes about the condition of your property once the tenant moves out.

Spending an extra 30 minutes video taping before a tenant moves in could save you a lot of money and headaches down the road

To your success,
Troy Boldt

tboldt@rentingauthority.com
www.RentingAuthority.com

Join the forum discussion on this post - (3) Posts

I did find tenants, and am using your rental application, basically for peace of mind, and as you suggested, you only have one chance to get that information.

While I didn’t initially want to rent, I am forced to in order to stay afloat, and not go into greater debt.  I have decided to use just a monthly rental agreement, and I have been and will be relying on my past renting experience and what I’ve read from your e-newsletters so far.  Thank you very much.  Your e-newsletters have proved helpful as I inherited renters when I bought this place this last year, and had to deal with legal issues, so I’ve been “thrown into the pot” with both feet.

Thank you again for your newsletters Mr. Boldt.

Renah

Join the forum discussion on this post - (9) Posts

Here’s a typical lease agreement nightmare. Make sure your rental lease agreement protects you in situations like this. http://www.rentingauthority.com/lease_agreement/

Patti bought a generic lease agree from an office supply store. It covers the basics: when rent is due, late fees and when the lease ends. Unfortunately for Patti, the generic lease did not cover 4 vital issues that created a nightmare.
1. Guests
2. Pets
3. Waterbeds
4. Rental insurance

Issue 1
Patti’s tenant Rochelle decided that her boyfriend Chris should move in her. Rochelle did not feel she needed to inform Patti because the lease did not mention anything about guest staying in the rental with her. Patti did not find not about Chris until too late.

Issue 2
Chris moved in and brought his two cats and 75lbs dog. Chris and Rochelle were irresponsible with their pets. The cats used the carpet as a litter box and the dog dug holes all over the yard. He also barked constantly at the neighbor’s children.

Issue 3
Rochelle liked Chris’s waterbed, so he set it up in the upstairs bedroom. Chris and Rochelle both worked and left the pets unattended during the day. On a Thursday, they left the backdoor slightly ajar. The dog came in the house and chased the cats throughout. Sadly, the tan cat jumped on the waterbed and the dog followed. This chase resulted in a punctured waterbed.

(more…)

Join the forum discussion on this post - (1) Posts

It’s been about a week since you sat down and made your proverbial New Year’s Resolution.  Odds are you are doing well keeping them so far.

Your glowing determination to succeed fades quickly after a few months.  Here are the revealing realities of New Year’s Resolutions.

40-45% of adult Americans make one or more New Year’s Resolutions.

75% keep resolutions past 1 week
71% keep resolutions past 2 weeks
64% keep resolutions past 1 month

46% keep resolutions after 6 months.

That means only 16 to 20% of adult Americans stick with a goal longer than 6 months.  80-84% of Americans fail completely. Explicitly writing out goals increases success rate by 10 times.

America’s most popular New Years Resolution.

•    Lose Weight
•    Manage Debt
•    Save Money
•    Get a Better Job
•    Get Fit
•    Eat Right
•    Get a Better Education
•    Drink Less Alcohol
•    Quit Smoking Now
•    Reduce Stress Overall
•    Reduce Stress at Work
•    Take a Trip
•    Volunteer to Help Others

(more…)

Several landlords have asked, “Should I charge an application fee?” My answer astonishes some. Yes.

Three reasons why:

1.   Application fees start the filtering process
If an applicant is unwilling to pay an application fee, you may have a difficult time collecting rent.  You are in charge, it is your asset, and you make the rules.

2.   Covers your costs
Screening prospective tenants cost you time and money.  Recover as much money as possible.  If you have to screen 4 tenants to find the right one, it will cost about $100.  Don’t go in the hole $100.  Collect the application fee upfront.

3.   Reduces discrimination lawsuits
Charging differing prices and not charging at all on some applicants, opens you up for a lawsuit.  Charge a consistent fee.  Even if you feel sorry for someone. Please don’t misunderstand me.  I am not being cold hearted.  Attorneys look for inconsistencies like this to create a discrimination lawsuit.

If you have any questions or comments, please email me.

Sincerely,

Troy Boldt

Renting Authority

888-674-9181

tboldt@RentingAuthority.com
http://www.RentingAuthority.com

Join the forum discussion on this post - (1) Posts