As a landlord, it’s normal procedure to ask potential tenants to fill out a rental application. After all you are renting out property to them and they are essentially strangers to you. Because of this, it’s also common to run background checks on potential tenants.
Believe it or not, there is a difference between a pet, service animal, and an emotional support animal. According to the Fair Housing Act, landlords are required to make the appropriate accommodations to tenants who require “service and emotional support animals” to function on a day-to-day basis.
The results are in and we’ve put together the top ten leasing "hot spots" in Los Angeles for 2017.
Los Angeles County rental prices are expected to rise 2.9% during 2018, capping at $1,840. But how does this impact real estate agents, landlords, and property managers? Understanding the market intricacies of LA will make it easier to direct efforts when trying to fill vacancies or assist clients.
Rental Prices on the Rise
Due to its amazing weather all year round, Los Angeles’s real estate has always been a hot commodity. With the Los Angeles population just over 4 million and growing, not only is traffic increasing, but so are rental prices.
The day-to-day operations of real estate agents, property managers, and landlords all involve the handling of clients’ sensitive personal information. For this reason, it is essential that all agents take the proper steps in order to protect their clients’ information/identity.
Conducting proper tenant verification and analyzing screening reports for rental applicants takes up valuable time that you may not want to waste. At times it may even seem easier to gloss over over the tenant verification process in order to get a lease signed faster.
Real estate agents commonly stay away from rentals because of the tedious tenant verification process and the inconvenience of collecting lease applications. Even though agents are steering clear of rentals, millennials are flocking towards them.
With increasing property value and student loan debt, the supposed new generation of homebuyers aren’t buying homes, but rather renting instead.
Malka Winshman, a Keller Williams Beverly Hills agent, has vast experience and success in real estate over the past 25-plus years.
As a client investment counselor, Malka manages everything from strategic planning to financial property analysis.
Here at RentSpree, we love the motto "work smarter, not harder." However, any good real estate agent will tell you that there is a lot of hard work involved in real estate. Whether it’s scheduling your showings, creating listing presentations, or making sure your tenant verification is on point, being a real estate agent is not for those with a poor work ethic.
Because it is convenient and often free, many real estate agents will call their brokerage lender to run a credit report as part of their tenant verification process. What they don’t know is that this could get both them and the lender in some serious legal trouble.
Your open house is a hit. Tons of people flock to your rental property, but how can you tell if they’re actually interested in applying, and not a dreaded lookie-loo? The last thing you want to do is hound down applicants to complete their online rental application only to find out that they were never interested in actually applying.
While we’ve previously stated the importance of consulting your applicants’ references in addition to collecting tenant verification reports, the calls to those references are meaningless without asking the right questions.
How can you get to know your applicants in a short phone call to them or their references? We’ve come up with some foolproof questions to get a ton of information in a short amount of time.
