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fishhooked
Nov 14, 2006
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Nap Ghost

TheLizard posted:

So the property management company I'm using got an application and sent me the signed lease a few days ago. I ran their names through Maryland's court case look up and there are a lot of hits for judgements and liens. However, I don't have their credit report so I can't see their past addresses. Hopefully it's different people (their names are not uncommon) but I guess we'll see. I move in 2 weeks. This sucks.

Did your management company not run their credit as part of the application/screening process? I would think any liens and judgements would ding their scores to a point your management company would have approached you with the red flags before accepting a signed lease. If there is still time before you sign/accept the lease, you could always request a co-signer or even a few months rent upfront.

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fishhooked
Nov 14, 2006
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timpanihilistic posted:

A few months ago I started working for a company that runs background searches on tenants applying for rental housing, whether it be through a private landlord or a property management company. In that time I've learned quite a bit about property management in general, so if anyone has questions about tenant screening and selection I can probably shed some light on the topic.

To those of you trying to select a property management company, make sure you know what kind of tenant screening they're doing. And if you're renting privately, please consider enlisting a professional screening company to do the screening for you (see below). No matter how good of an internet detective you are, you can't search every single county's criminal records instantly like we can. :smug:


Most property managers will use a third party company like the one I work for to check the applicant's credit and criminal history and, depending on how thorough they are, maybe even search past evictions, verify income, and call former landlords for rental history. However, some of the more old-school companies prefer to do all of the screening on their own, which can mean nothing but ordering a credit score and checking a few county websites for felonies. You'd be surprised how little that can tell you about a person's ability to pay the drat rent. You have every right to know what kind of tenant selection process your PM company is using. If they have a website they probably have a section with tenant information that lists basic criteria for approval. If not, call them.


If your PM company is giving you results in a point scale, they probably use CoreLogic SafeRent for their screening. They developed some sort of point system that they swear by, but you need to take like a 3 day course to be able to read it. Plus, there are some things that just kind of need to be automatic fails, not just "-10 points" Owing a balance to another property comes to mind.

:frogsiren::frogsiren::frogsiren: I got mod approval to offer my services to any private landlords interested in screening applicants for their rental properties. We have really affordable rates and easy-to-read and easy-to-understand reports that just make a ton of sense. If you're a private landlord or work for a property management company, send me a PM so we can talk about putting a tenant who doesn't suck in your rental property. We work with property management firms with 10,000 units, private landlords with one unit, and everyone in between.

Anyway you could provide us with an email for us poor souls without PM's?

fishhooked
Nov 14, 2006
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Must Love Dogs posted:

They've identified the general vicinity where they want the property, but they do not have the land yet. They also aren't wedded to the notion of new construction: if the right building to be renovated opens up, they'll go with it instead. The down payment's all lined up and we're pulling together the business plan next week. In addition, other recommended steps like establishing a trust are being prepared.

Are there any other resources I should look at, aside from the planning and development agency locally?

You may want to approach a civil engineer. Most cities will want a full site plan/design documents for multi-unit/family units past 4.

fishhooked
Nov 14, 2006
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DNova posted:

Assuming there is no right of way or the expansion exceeds it, it's a normal thing to be paid some amount when they grab a slice off your parcel, right? Is it negotiable?

This is mostly out of curiosity, not something that is happening to me.

Yes, if the state/city/county needs right of way from a property owner it involves the entity paying the landowner, either through money or through agreed services. If negotiations don't work out the government entity will condemn the land needed and pay the land owner whatever the land is appraised for. Typically its a last ditch effort as it takes awhile to condemn property. Usually the entity will just route the road through another property owner who is happy to sell.

fishhooked
Nov 14, 2006
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Nap Ghost

DNova posted:

There's a deal where some guy needs money asap and has some land that apparently is going to be sliced off for a road expansion. He claims the state/whoever will pay as much as he wants for the entire parcel, which would still be worth a good amount after the work is done.

Trouble is that I can't find any real evidence of his claims about the work or payment from the government. I might make a few calls to see if I can corroborate his claims but at the moment it's looking like there are too many unknowns for me to want to get much further.

Sounds very speculative. You can double check some of his claims by researching with your states DOT. The project should be listed in their program of improvements which typically plans out 2 to 5 years. That said, I think he's full of it. No way a state would straight up say they'll pay him whatever he wants for the land. Especially in these "government is bad lets cut everything" times.

Its not uncommon for land speculators to hold onto pieces of land adjacent to planned roadways. However, this really isn't for selling parts for ROW. Its mostly for the development opportunities it brings in the future

fishhooked
Nov 14, 2006
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Nap Ghost
Just found out today my current tenants are going to stay for another year! This is the first time in 4 tenants that I won't have to flood Hotpads, craigslist, zillow, to fill the vacancy. This is a nice turn of pace with this house as just a few months ago I was replacing the sanitary service to the tune of $2.5k. I know, It could have been worse.

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fishhooked
Nov 14, 2006
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I've been using Cozy for this latest tenant and love it. Takes a week to process rent and get to your account though, unless you pay for higher service

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