Software And Payment Setup?
Hi everyone, im purchasing my first triplex next Friday. I am wondering what software are people using to manage their tenants accounts to keep organized?
Do you seasoned vets give out receipts after receiving payment or do you have your tenants pay through a pay service which gets direct deposited to your bank account?
Is it wiser to go with an LLC or become incorporated for protection purposes even with a big umbrella policy from my insurance company?
Thank you for your help in advance.
Sean
Get REALTOOLS, a lot of people on the board use it and like it. Unlimited properties for $99.
Here is the direct link to the eBay auctions of REALTOOLS:
http://search.ebay.com/_W0QQsassZnichesw
thanks d_random, your help is much appreciated.
Central TN.
What do they charge for each check?
Thanks.
www.saferent.com
or
national tenant network (google it)
It varies from 9.95 for just a credit check up to forty something for a full package. I am in the most southern part of Central TN on the AL border.
I start with just the credit report and if that is good, and all of their references (last two places rented)check out, then thats all I do. Usually if they take care of their credit and the last TWO places they rented, then I have never had a problem with them taking care of my property. If the next to last landlord reports a problem,( most recent one might just wanting to be rid of them) then I get more info.
this is a very good question. should tenants be explicitly told that their credit would be checked or is this something that is assumed?
Make sure and have a clause in your application that gives you permission to check all references. Have their signature right below it.
We use www.tenantcheck.com. One thing we have found is if they are currently living in a large apartment complex, they typically require a copy of a letter stating you have the right to check their references. I always fax over the second page which includes the clause I mentioned and their signature.