Hi everyone,
I've searched the forums, but haven't found much info on finding tenants, and general first time active landlord questions. Do you all mainly use property management services, or have such good luck you don't have much turn over? Can anyone point me to threads I may have overlooked, or share what services they use here? I'm specifically interested in:
Screening
I saw someone mention MySmartMoves.com, and I like the idea of not handling social security numbers. I had a prospective tenant use it, but in the credit report no bank accounts popped up. It seems weird to me this person would have an auto loan, but no bank account. I declined them due to their income being insufficient, but am considering switching to rentalutions for subsequent tenants since even though the cost is $45 instead of $35 they can apparently download and reuse their credit score with other landlords (if they will accept it).
Also, I stupidly realized a day later MySmartMoves does NOT include an application (Rentalutions does). I may just use the form out of my CA NoLo book, but any thoughts on whether to package the application and credit check or keep them separate? I had an open house yesterday with good showings and people expressed interest, but I feel that not having them fill out an application on site meant that they went home and just lost interest. Thoughts?
Finding Good Tenants/Pets Etc for an owner occupied duplex?
I prefer one tenant for our back unit as it is 600 square feet, there is only one parking space, and we live in the duplex in front. I feel like two people equals more headache and more wear and tear. have priced the apartment slightly lower than I would for a couple to attract this type of tenant, and the price is inline with other rentals and in good condition. But I keep getting couples applying. Should I be firm on this or should I consider relaxing this criteria for the right couple. Has anyone had similar experience?
How would you balance desiring one tenant against say someone with a cat? We stated no pets, but we did get a single professional with a cat. I am hesitant as we have hardwood floors and I am terrified of cat pee. I also am concerned about animal smells, and in CA if someone stays longer than a year you cannot charge them for painting as it is considered wear and tear. In the case of someone with no pets, I may be able to keep from having to completely repaint (e.g. just touch up), but with a cat I would have to repaint everything. CA also doesn't let you charge more for a pet each month, only a larger deposit.
Taxes
Finally, any other good resources for newbie landlords to ask questions? I get the sense most of the MMM forum on real estate is in the investment side. I am an active landlord, not an investor. I do my own repairs, or call and manage my own trades people, and even do my own taxes. I figured there would be a lot more tax discussion in this forum (depreciation how to, which tax programs can handle complexities of real estate and landlording, etc.) but haven't found it. Am I looking in the wrong place? Are you all doing your own taxes, using Turbo Tax, HR Block, specialized accountants?
THANK YOU everyone for your replies and links.