Tenant Screening 101 For Landlords | with Pam Storm from Rent Marketplace
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- Опубліковано 7 чер 2024
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Episode 224 - Learn from real estate expert Pam Storm about how to find and screen the BEST tenants for your rental property. Once you figure out this skill, everything else as a landlord becomes easier.
Pam Storm is the founder of Rent Marketplace, an online service for landlords to self-manage their rental property, screen tenants, and collect rent.
Coach's written tenant screening criteria: www.coachcarson.com/tenant-sc...
Companion Article/Show Notes:
www.coachcarson.com/how-scree...
TIMESTAMPS:
0:00 - Intro
2:08 - Behind the scenes
5:28 - From CPA to tenant screening
8:43 - Entrepreneurship after leaving corporate
13:05 - Having a great tenant
16:40 - How to attract a great tenant
19:08 - Write down your criteria!
29:16 - Sticking to the process
36:01 - Step by step screening
41:33 - Are you a good fit?
45:02 - Best script for after showing
48:01 - From acceptance to moving in
53:04 - Common mistakes by landlords
58:58 - How technology made landlording easier
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I am having to go to court to evict a renter today. I failed to do my due diligence. Focus on doing the upfront work. Save on the headaches later!
Roaches check in but never check out, before you go to state court make sure they dont file for a bankruptcy. If they file for bankruptcy it is federal court and your state eviction order is nothing and you need to fight at federal court and filing motion to lift automatic stay and etc , good luck
This was a great interview. The last thing you want to do is simply fill the vacancy . Do diligence is so important. If you have a property manager managing your rental. It isn’t a bad a idea to have some involvement in choosing and approving the tenant.
Pam gave away some incredibly valuable knowledge and tips. This was the first time I have ever gone back and written down notes from a guest speaker. I felt like I was in class! Nice work!
I love to hear that! Thanks for the feedback and for listening
Listening to this again and again 。 thank you 🙏
This conversation was incredible. I have entire page of notes. Thank you!
So much value in this interview. Very much appreciated!
Great video!! My husband and I have been landlords here in Germany for 10years. We will be moving back to the US end of 2022 and will be buying homes to rent for our retirement income. I have been watching all your videos to get more knowledgeable of the us rental market. Thank you for your help!! PS. I'm happy that you are enjoying your time in Granada, Spain we have been there and it is a beautiful place!!
wow super great info, thanks Pam and Chad! I grumbled seeing it was 1 hr then watched the entire thing
Best tenant screening I’ve ever seen. Pam and marketplace is awesome! Thank you Coach for bringing her on your show. Golden info!!!
This video is very helpful and informative! Thank you both!👍
Glad it was helpful! thanks for watching.
Super helpful conversation! Thank you Carson, Pam
Thank you for this! Awesome resources!!!
Incredible information
Happy Easter to you too!
Same to you!
Do not rent people who has eviction history, “people” never change
How to find this information
Sadly in NY an eviction can NOT be recorded/ documented, nor can you inquire about an eviction.😢
Love this thank you!
Thanks for watching!
This entire rental and screening of tenants is a mine field. Even if someone who meets all the screening criteria, there can still be the X factor that you can't get unless you actually meet the individual and ask specific detail questions. These are intended to see if their entire background history lines up or are they lying to you! That happens more often than not so just relying on the basics as outlined on this chennel is not enough!!!
Verbal and in-person interviews are definitely part of my process. I agree with you. If what they're telling you in person and on the application aren't adding up, big red flag.
Banks always are slow to approve people for loans. I'm the same way with rentals. Take our time, make sure we do a thorough investigation.
I heard government wants all three major credit reporting agencies to stop sharing info about eviction history with landlords, risk getting higher
Has anybody heard of “Deposit Insurance”? Any thoughts on this relatively new approach to deposits?
Hi Coach Carson! I've been wanting to learn more about creative financing and is very interested in getting your seller financing course.
Do you happen to have any coupon codes/discount at the moment? Looking to do it this week :)
Thank you!
hey Dax. Since you're a YT subscriber I have a 10% off coupon if you use CF10OFF at this link: coachcarson.com/creativefinancingcourse
Thanks for your interest! It's an info and tool-packed course on the creative financing subject.
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How would you virtually screen a Constantly Barking Dog ?
That's another one you can prevent in your lease.
A couple of things about renting out to irresponsible parents for example
Lets assume parents have good credit and havent been in jail and dont take welfare
1)Let me introduce you to my daughter who lives off welfare since she turned 18..she will be living with me
2)Let me introduce you to my son who sells drugs ..he just bailed out of local jail..he will be living with me
How to handle THOSE situations ???
Get a landlord reference from the one previous to their current one. They'd be happy to give a true reference since that person is no longer their tenant. Also ur lease/Tenancy Agreement should stipulate that only the adults named on the Lease/TA are permitted to live at the property. If u find out that there are others living with them then they're in breach of the Lease and that would give u grounds to evict them.
@@marissakeynes2532 This is great Advice
Thanks Marissa!
The biggest criteria is income. The best person can not pay money they do not have. I try to never "know" tenants. Keep it business.
My tenant pays rent until eviction moratorium, people work but did not want to pay rent because of biden eviction moratorium, sucks…sold my property because government tries to control your property… freedom:-))))
How about previous 2 landlords reference and asking for the last 6 months bank statements to see if they paid their rent at all and on time. I ask for a copy of their last lease as well to see if everything ties in together.
Waaay to long
Host talks too much. Let's hear from your guest.
Great lesson for new landlords! I read your recent book and the one from John Schaub as well. Closing on my first property in 4 weeks. Thank you for all the great tips! As a new landlord, I wish there were more role playing videos to walk through the whole process. I bought a vehicle recently and this video was a goldmine. ua-cam.com/video/89y_1iRQGG4/v-deo.htmlsi=3630slMQw1yfVZbG