Renters....

[Frank]

I understand asking for verifiable income, but if a person has been at a job multiple years, in the same position, does a few paystubs showing year to date for example, not cover it? Can you verify employment with their employer? If that's the case, I don't see the problem, but then again, I'm not in the same business as you so I'm not sure...just asking.

In three of the cases, the employer was themselves or a family business, that's why I ask to see a tax return. I don't expect them to make the same month to month, but I do want to see that over a 12 month span, it would average per month meets my criteria. At least a tax return should prevent any BS being offered.

[Wicked98Snake]

Where is the house you are renting?

[johnny--2k]

In three of the cases, the employer was themselves or a family business, that's why I ask to see a tax return. I don't expect them to make the same month to month, but I do want to see that over a 12 month span, it would average per month meets my criteria. At least a tax return should prevent any BS being offered.

That makes sense if it's self employed or family, I can understand where you would be leary on something like that.

[94form2000z]

This is what I use a property management place for. They seem to get higher quality renters coming in looking for a place. IT costs but so far it has been worth it for me.

[Sgt Beavis]

Subscribing.

x2.

It is possible I'll be offering my home for rent if I have trouble selling it..

[GeorgeG.]

I agree with what SVT Lurch suggested about letting a realtor handle it.

IMO, the tennant probably balks at your forms and request for tax returns because they might feel it's an invasion of privacy...they're already down on their luck and now you want to get all in their financial business. Not to mention them knowing that you're making money off of them can put a sour taste in their mouth. In other words, you're getting too personal even though it's a business to you.

I think as if I were in their shoes...I'm not about to divulge my personal info to an individual, yet make it a "leasing company" of some kind and I'm more comfortable knowing/hoping there are practices in place to protect my personal info, SSN, tax records, printed credit reports, etc. Plus, i wouldn't feel like I was being judged.

When I had my rental, I ran into the same issue...a lot of people didn't want to fill out the form or give the info I needed. Yet, my wife who's now an agent, is constantly collecting forms and deposit checks and tells me that rentals fill up quick.

[jluv]

Well, honestly I thought people just rented because there credit was crap. Why else would you rent a house and not just buy one for a lower monthly payment? I have never rented anything, however, myself and my brothers own a rent house. We use contracts and such, but have never run for credit.

You've got it twisted.

There are a lot of reasons why people would rent over buy. Millions of people with stellar credit rent, and any house worth a shit is going to require a credit check at the very least. To me, buying a house in this market doesn't make much sense unless you plan on staying for 10 years, and even then, there are disadvantages.

In fact, so many people (with good credit, plenty of money, etc) have been going that route, that now the prices for decent rent homes in decent neighborhoods have been skyrocketing, and landlords can afford to be pickier than ever. If someone won't fill out some standard forms, tell them to get bent.

[Chas_svo]

I agree with what SVT Lurch suggested about letting a realtor handle it.

IMO, the tennant probably balks at your forms and request for tax returns because they might feel it's an invasion of privacy...they're already down on their luck and now you want to get all in their financial business. Not to mention them knowing that you're making money off of them can put a sour taste in their mouth. In other words, you're getting too personal even though it's a business to you.

I think as if I were in their shoes...I'm not about to divulge my personal info to an individual, yet make it a "leasing company" of some kind and I'm more comfortable knowing/hoping there are practices in place to protect my personal info, SSN, tax records, printed credit reports, etc. Plus, i wouldn't feel like I was being judged.

When I had my rental, I ran into the same issue...a lot of people didn't want to fill out the form or give the info I needed. Yet, my wife who's now an agent, is constantly collecting forms and deposit checks and tells me that rentals fill up quick.

Bullshit.

You are asking the right questions and getting the right info. No renter is worth the hassle of trying to get them out. Listen to your gut, and be choosy, and you will be way ahead in the long run.

<---has done this before.

[GeorgeG.]

This is what I use a property management place for. They seem to get higher quality renters coming in looking for a place. IT costs but so far it has been worth it for me.

I also agree with this...those that try to avoid the required forms, not providing income docs, etc, are only trying to buck the system and will eventually try that crap on you.

Even if you continue to manage this yourself, I definitely wouldn't change what you're doing.

[GeorgeG.]

Bullshit.

You are asking the right questions and getting the right info. No renter is worth the hassle of trying to get them out. Listen to your gut, and be choosy, and you will be way ahead in the long run.

<---has done this before.

LOL, which part? Me agreeing with SVT Lurch, my opinion as to why they might be balking at his requests, or the fact that rentals have been filling up quick?

BTW, I wasn't saying he should lower his standards or quit using the forms/tax requests.

[Chas_svo]

LOL, which part? Me agreeing with SVT Lurch, my opinion as to why they might be balking at his requests, or the fact that rentals have been filling up quick?

BTW, I wasn't saying he should lower his standards or quit using the forms/tax requests.

It sure sounded that way. Your last post was correct. We're on the same page...I think.

He should be a skeptical as the law allows and then some. The renters are willing for you to take the risk, if you are gullible enough to allow them to take advantage of you.

[Treasure Chest]

You've got it twisted.

There are a lot of reasons why people would rent over buy. Millions of people with stellar credit rent, and any house worth a shit is going to require a credit check at the very least. To me, buying a house in this market doesn't make much sense unless you plan on staying for 10 years, and even then, there are disadvantages.

In fact, so many people (with good credit, plenty of money, etc) have been going that route, that now the prices for decent rent homes in decent neighborhoods have been skyrocketing, and landlords can afford to be pickier than ever. If someone won't fill out some standard forms, tell them to get bent.

Most of our renters have been people that needed something short term while they were building a house. One was a guy that needed something up here for the first year of a new business, but he didn't want to deal with apartment living. We've also had pastors that were assigned to churches for short term and military wives that wanted something closer to their families while their husbands were deployed.

There are plenty of legitimate reasons to rent with decent credit.

[TexasT]

QUick question about evicting. I was told this a few years ago and in Florida so Texas law might be slightly different. I heard if you wanted to get someone out the easiest way would be to raise the rent and they would end up going out on their own.

Does that sound right? Can you do that?

The best way to get them out is to do repairs to the front door frame. This will require door removal, possibly for several days or weeks depending on how long they plan to stay.

[bluecollar]

If you go with a property management company, do not just assume that they will take care of everything. I live in Denton and we had a house in Wichita Falls that we were renting out. A PM company took care of everything and were suppose to be checking on the house regularly since we were 2 hours away. WRONG. They never checked anything, we ended up having to evict the people and then dumped several thousand dollars back into the house just to get it sell-able.

As far as what you are asking, it's your house, your choice. If someone doesn't want to provide what you ask, move on.

[BlueCoupeRedVert]

I Let my realtor do all the credit/backgound checks on a good candidate. If it comes. Back cool, I interview them and make the call then. Ever sence I stopped renting it to other family members, I have had 2 great young couples in the house.