 interesting video (by Bonanza [NC]) Mar 12, 2024 7:19 PM
 interesting video (by 6x6 [TN]) Mar 12, 2024 8:23 PM
interesting video (by 6x6 [TN]) Mar 12, 2024 8:25 PM
interesting video (by 6x6 [TN]) Mar 12, 2024 8:29 PM
interesting video (by Sean [OR]) Mar 13, 2024 4:05 AM
interesting video (by Bonanza [NC]) Mar 13, 2024 6:33 AM
interesting video (by jonny [NY]) Mar 13, 2024 11:50 AM
interesting video (by Just Tim [AR]) Mar 13, 2024 1:38 PM
interesting video (by David [MO]) Mar 13, 2024 1:41 PM
interesting video (by WMH [NC]) Mar 14, 2024 10:05 AM
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interesting video (by Bonanza [NC]) Posted on: Mar 12, 2024 7:19 PM
Message:
Interesting youtube video about rentals.
Some people may have heard of Ken McElroy.
What My 10,000 Tenants Tell Us About The Economy
--65.188.xxx.xxx |
interesting video (by 6x6 [TN]) Posted on: Mar 12, 2024 8:23 PM
Message:
Thank you, Bonanza.
What do you think about the Flex that they mentioned?
I am still watching the rest of the video. --76.129.xxx.xx |
interesting video (by 6x6 [TN]) Posted on: Mar 12, 2024 8:25 PM
Message:
What do you think about the rescue fund he mentioned? --76.129.xxx.xx |
interesting video (by 6x6 [TN]) Posted on: Mar 12, 2024 8:29 PM
Message:
What about the system they are using for employment verification? Thoughts on that? --76.129.xxx.xx |
interesting video (by Sean [OR]) Posted on: Mar 13, 2024 4:05 AM
Message:
The flex solution sounds interesting...I wonder what cost it brings to the LL for using it.
--208.127.xxx.xxx |
interesting video (by Bonanza [NC]) Posted on: Mar 13, 2024 6:33 AM
Message:
Not sure what Flex is. I do my own screening so I wasn't listening too much to that. I was really shocked that they are running a 17% eviction/turnover rate. Maybe they need to tighten up their standards.
I think this is a sign of our worsening economy and proof of trouble ahead for the average American. --65.188.xxx.xxx |
interesting video (by jonny [NY]) Posted on: Mar 13, 2024 11:50 AM
Message:
Flex is interesting ... I just looked it up. Not sure how it would work on "our" end... seems that it is on the tenant to pay any fee but I didn't look at all of it on the site.
I must have missed the rescue fund comment... I'll have to go back and see if I can find it.
The company I use for the background checks does have an option for us to "validate" their income. In all honesty, it doesn't actually validate it (it's not how they sell it and that's not the word they use either) but they basically just look at what they claim their income is and go against their credit report and see if it "matches" (meaning if they are stating they make $100k but their credit is clearly showing they do not then maybe they'll flag it??). I'm not sure.. it was a part of what we use to get and have the tenant pay for the "full reporting" but now with NYS with the law change... we can't include it (well, I guess we could but then we'd be paying more for it which I'm not going to do at this point). Plus, it's not a "guarantee" from them and we'd still have to validate everything. When it was included it was a nice thing to have just to have that first look to see if what they are claiming could be true or not. --69.201.xx.xxx |
interesting video (by Just Tim [AR]) Posted on: Mar 13, 2024 1:38 PM
Message:
I think there was a discussion on the board regarding Flex not too long ago. My understanding is that the tenant can break their rent payment into two payments for the month. You get your money when they make the first payment. Tenant pays a monthly fee of $14.99. I would rather just set them up on a payday plan. The bump in rent that I get is going to be better for me, and I'm not waiting on the tenant to do anything. I'm drafting their account each week or every other week depending on how often they get paid.
They mentioned fraud in the video. In the past, the most common fraud I would see is tenant using a friend or relative as their landlord. I've seen several sets of fake paystubs over the last couple of years. The "best" set I've seen came through earlier this month. If they would have calculated FICA taxes and withholdings correctly, it would have been difficult to distinguish from a real one.
There seemed to be a disconnect in the discussion regarding the 17% eviction rate. It seemed clear to me that she said that 17% of their move-outs are evictions, but Ken seemed to run with the idea that 17% of their total tenants are being evicted. Either way, it's a pretty high number. I've seen a significant uptick in the number of eviction filings in my area. Knock on wood, I have not been affected at this point. --98.174.xxx.xxx |
interesting video (by David [MO]) Posted on: Mar 13, 2024 1:41 PM
Message:
Very interesting video.
With Flex, you can split your rent into two payments, allowing you to line up your finances on a timeline that suits your schedule.
Info is from the web. --174.210.xxx.xxx |
interesting video (by WMH [NC]) Posted on: Mar 14, 2024 10:05 AM
Message:
My personal "Flex" plan is Tenant can pay any amount at any time as long as it is ALL paid by the due date. Simple.
Since they pay online, Buildium tracks it for me and if they have not paid in full by the legal due date (5 days after OUR due date) they tack on a late fee and send a bill, automatically. --173.28.xx.xxx |
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