99.9% of the time we never deny for credit. WHY open yourself up to challenge from applicant?

When there's back credit that credit includes bad rental history -- AKA payment of rent problems.

Our quote is this: you were denied due to rental history. End no more to say BUTTON IT!!!! -- they know that you know.

If you are letting the applicant know the process in advance, they are prepared for the truth.

Say this is a lower level place and you can accept a 590 credit score. You need to articulate what this means in terms they understand.

This morning I have screened 5 credit reports from 5 different applicants and every one has a fico score below my min. threshold of 600. Now, some of these applicants will be calling me and wanting to know when I will show them the house. Not answering the phone is not how I do things,..I believe in talking with someone and being up front with them.

I am now requiring all of my Zillow applicants to fill out an online Zillow app which has an application, credit and background (evictions) report all in one neat package. In 24 hours, I have received 5 of these Zillow apps and none of them are worth showing the house to.

Maybe your target audience isn't specific enough if you are getting too many DQs and not enough folks that meet what you are looking for.

If you have a house for rent sign up at the unemployment office, who is going to see it? Maybe taking that same message and placing it at a temp agency will yield different results.

Roy, my response is your application was not approved.

I say no more and they continue I will say, you might want to contact the credit bureau for your report.

That’s all and good luck on your search.

Ray

My Zillow Ad has only been running for 24 hours. In the past, all of the unqualified applicants (the most desperate) are always the first to submit an application. Then after several days, more qualified apps will begin to appear. The reason I posted this is to gets suggestions on how to tactfully deny someone (on the phone) if they call me wanting to see the house.

When I get a good Zillow app, I will call (or email) that person and invite them to my open house on Saturday morning. So far, I have not seen any apps worth calling the applicants back on but that will change as time goes on.

Dave MO you denied for credit there's a lot more to do then just say contact the credit bureau.

Now, if anyone here would like to see my Ad on Zillow, get Zillow on your screen and type in the zip code of 35903. Two houses will come up and mine is 305 Elmwood Ave. This is the only rental I have that has a garage apartment in the rear which is currently rented.

Roy,

Your definition of hood doesn't match mine.

Zero,

Zero - BTW, what is YOUR definition of the hood? I may have to make a separate post on this topic.

We follow the FCRA guidelines.

You need to send an "adverse action" letter. Here is a cut and paste of some recommendations:

An adverse action notice tells people about their rights to see information being reported about them and to correct inaccurate information. The notice must include:

the name, address, and phone number of the consumer reporting company that supplied the report

a statement that the company that supplied the report did not make the decision to take the unfavorable action and can't give specific reasons for it

and a notice of the person's right to dispute the accuracy or completeness of any information the consumer reporting company furnished, and to get a free report from the company if the person asks for it within 60 days.

"Sorry I am not going to be able to rent to you at this time, I am mailing you a letter that you can use to get a free copy of your credit report so you can check it an make sure there is no information on there that is in error. Best luck to you in the future"

Hood definition for me is first and foremost a place I won't live in.

Bought some cheap properties in some seedy areas because the numbers worked. Then when the T leaves or you have to go over to work on something you aren't comfortable.

Just because I carry a gun doesn't mean I want to use it. I have armor too, but no reason to drag it out to visit my property.

Changed my mind years back about hoods. If I wouldn't live there I won't own it. Doesn't mean I plan to move into any of my places now, but as I was coming up in the world I would have.

Have an associate that manages around 150 properties. 90% of them are D- or F places. I worked on a few a long while back for him. High crime, high illegal drug use, just not the places I want to invest my money in. They go to court every Thursday for evictions. Every. Single. Week.

Some of the places are in such bad shape I wouldn't feel right renting them out at all. Slums I guess they would be called.

Now before people start complaining to me that this housing is a necessary evil, I am not saying otherwise. It's just not for me. When you have such a small amount invested in the place the numbers work out, I get it. I just don't want to partake any longer.

I have a few C places for sure. Typically I buy the ugliest house on the block and fix it up. Makes the neighbors happy. When I put it on the market people aren't scared to step out of their car to walk thru it.

Doesn't mean I haven't had problems at any of them over the years. I sure have. But, they typically do not attract the lifestyle that I don't want renting from me.

Roy, that house is a doll! Have you thought about adding a bathroom picture and the bedrooms?

When I am perusing online ads, what pictures are not included in the add are as important as the ones that are included.

If I don't see the bathrooms especially in a 1 bath house, I figure it is a disaster.

Cha-ching!!! Does that back garage with little loft come with it? If so, (I'm going to sound like WMH) don't offer it with your main home, do it as a separate rental ADU. There is plenty of space behind the home for your home tenants to park out of the way of the garage apartment people so no one would be blocking anyone else.

Renne,

He said the garage apartment was already rented I believe.

First house wife and I rented had a detached garage that was it's own rental. It worked out fine, but then it didn't.

Thanks, Zero! I sure didn't read the post very carefully.

I can see why your wife was not pleased.

We have trouble with package delivery at our duplex. The Amazon type people just leave everything on the front duplex's porch.

So, we installed a repurposed newspaper vending machine, painted it bright red, and put a custom neon yellow magnetic sign on it instructing all deliveries to be made in that box.

Renne,

When taking inside photos of the bedrooms, my flash batteries died on me and I will need to re-shoot those bedrooms. I did a vertical shot of the bathroom (mistake) and Zillow cropped it to a horizontal view which destroyed most of the photo.

As soon as I can get the bedroom photos taken (Friday), I will upload those to my Ad.

Roy,

Congrats on the extra digit rental. I am still pushing the boundries to get there.

Roy looked like a beautiful job on that place. It's not a 5000 sq ft mansion but it is clean and looks comfortable.

How close are you to the aircraft overhaul facility? Many airlines are moving to Gadson AL and using contract company's.

Would be perfect for someone commuting during the week to ATL.