House Hacking: How to Screen Your Tenants | Daily #13

[@LoriLivers]

taking the time to screen tenants really well up front saves you so much headache later! it is a critical part of my process - great tips!

[@eddiegarcia7898]

What’s a good amount to charge for security deposit?

[@LoriLivers]

@@eddiegarcia7898 typically my security deposit is equal to one month's rent. Sometimes more depending on pet circumstances

[@kayvallance9560]

after showing get applications thru cozy: 1 - name 2 - job title, pay, and work references 3 - credit score 4 - background check 5 - previous landlord/roommate references 6 - smoker? if yes, how often? 7 - pets? What kind? how many? do your due diligence! verify everything. it's ESSENTIAL to verify EVERYTHING!!! have a set of rules/preferences for who you want to live with - then apply that set to everyone.

[@eddiegarcia7898]

What’s a good amount to charge for a security deposit?

[@LuceroDelgado-ip3oi]

Is Cozy still active?

[@bldfinancial]

This was an awesome episode!

[@gsftom]

That was helpful!

[@CaseyBurnsInvesting]

Some major gems. Gotta incorporate that group in person showing into my strategy for my second property.

[@alexandriayoung]

Is this an audio podcast somewhere?

[@eddiegarcia7898]

What’s a good amount to charge for deposit? Also, do you require your roommates to carry renters insurance? How long are the leases? I live in a college area.

[@meliss9536]

Deposit can depend on state laws. Where I live, you can only charge up to one month, period. I could not do first or last month, because the last month would be considered part of the deposit and i would be charging twice as much is legal. Same thing Goes with pet rents where I live. We can charge per rent, but not a pet deposit. So a big rental company here charges only $500 for a general deposit, and if you want to bring a dog, you then pay the difference if the rest of a month of rent.

[@meliss9536]

Meaning, we can charge a pet deposit, but not for more than a total of one months rent including the general deposit.

[@carlosweaver6763]

Just buying our first home. Two bedrooms upstairs that will stay open. Planning to call traveling nursing companies and target healthcare workers. Bc my wife and I are in healthcare.

[@MyGreenNest]

Great plan

[@JeanDagobert]

Wow thank you I will use this when I get my first rental

[@JadeTrading]

Thank you🙏

[@nathanwayne577]

I make everyone apply and pay for a credit/background check before they see the house in person. I won't even show a house unless they hit 640 credit and clean background. Why waste time showing a house to a person who might not meet your criteria?

[@cryptoworld543]

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[@cryptoworld543]

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