A BiggerPockets Guide Quotes

“If a tenant moves in during the middle of the month, I don’t pro-rate the amount they pay upon first moving in. Instead, I pro-rate the second month to match the first. In other words – every tenant pays a full month’s rent when they move in, but when it comes time to pay the rent on the 1st of the next month, they will only pay for the amount of days they lived at the home in the previous month. For”
― Brandon Turner, A BiggerPockets Guide: How to Rent Your House

“applicant know that you cannot hold the property indefinitely so if they want to guarantee their position they will need to pay the deposit within 24 hours.”
― Brandon Turner, A BiggerPockets Guide: How to Rent Your House

“Therefore, it is important to require a deposit to hold the vacant property. This deposit is non-refundable and should be due within 24 hours of being accepted. Simply”
― Brandon Turner, A BiggerPockets Guide: How to Rent Your House

“When you deny an applicant, it is important that you clearly document your reasons for why you are denying them to avoid discrimination complaints.”
― Brandon Turner, A BiggerPockets Guide: How to Rent Your House

“always process applications on a first-come, first-serve basis – processing the application until you discover they do not qualify. If someone doesn’t qualify, move on to the next.”
― Brandon Turner, A BiggerPockets Guide: How to Rent Your House

“always process applications on a first-come, first-serve basis – processing the application until you discover they do not qualify. If someone doesn’t qualify, move on to the next. When”
― Brandon Turner, A BiggerPockets Guide: How to Rent Your House

“their current landlord – because many landlords will lie or embellish the truth in an effort to get rid of bad tenants. Instead, call all the previous landlords for at least the previous five years.”
― Brandon Turner, A BiggerPockets Guide: How to Rent Your House

“How much do they currently make? -How long have they worked there? -Is this job considered temporary?”
― Brandon Turner, A BiggerPockets Guide: How to Rent Your House

“make it a policy to never rent to a person with an eviction on their record or recent felony (within 7 years.) Yes, people do change – but I don’t find the risk worth taking. I’ll leave that risk to other landlords.”
― Brandon Turner, A BiggerPockets Guide: How to Rent Your House

“gross monthly income must equal approximately three times or more the monthly rent -Applicants must be employed -Applicants musth have good references concerning rental payment, housekeeping, and property maintenance from all previous Landlords. -The number of occupants is limited to a max of two per bedroom or less”
― Brandon Turner, A BiggerPockets Guide: How to Rent Your House

“Showing units can be a pain because 50% of the time, tenants will not show up. To combat this, I use one of two techniques:
1.I give them the address to drive by first and tell them to call me back if they are interested in seeing the inside. This eliminates the people who are disinterested because of the location.
2.I try to “batch” all the showings to one time. I will tell all the callers that I will be at the house from “5:00 to 5:30 on Friday afternoon” and if they want to see it – show up then. Having multiple tenants look at a property at the same time can be a little bit awkward, but it creates a sense of competition and scarcity which allows for”
― Brandon Turner, A BiggerPockets Guide: How to Rent Your House

“For the same reason, I also recommend taking photos (or a video) of the property before handing over the keys. This will be further evidence in the future when the tenant moves out.”
― Brandon Turner, A BiggerPockets Guide: How to Rent Your House

“How long did the tenant rent from you? -What was their monthly rent? -Did the tenant give proper notice when vacating? -Did the tenant receive back their security deposit? -Would you rent to this tenant”
― Brandon Turner, A BiggerPockets Guide: How to Rent Your House