Get paid by deadbeats.

Out of the most recent 30 paid applications, 9 ended with a simple court records search. No more work required.

I pay my screener $5 for each task so the 9 deadbeats paid us $35 each = $225 to screen their app minus 445 to the screener = $180 profit. That's $20 each profit to screen a deadbeat that did not read the basic criteria printed at the top of the app.

We are not promoting to deadbeats with "bad credit OK" or trying to make money off them. We even warn them with basic criteria before applying, but they INSIST on giving us money.

Stop giving away your time for free with pre-screening. They pay for my guy to review their app.

And stop giving away your time (your life) with showings to prospects who you don't know if they qualify.

BRAD

PS

My screener commented some of the applicants court records included violent crimes. He said "Aren't you glad you did not meet that person in the house alone!"

I know I need to start charging for applications. I just have yet to do it.

Feel I need to get set up with a credit check system first.

I do not go thru as many apps as most here do, but I guess every one is something to pay for a little of my time.

Then I need to get set up with a faster online pay system. The one I use for rents has to be set up with the person and their bank account, then it holds for three days on the first run which would not be easy for app fees.

Maybe I will look into Zelle or Venmo or one of them.

Thank you, Brad, for sharing this reminder.

Even though I have only delt with the one rental thus far, I have also experienced that people will pay for an application to apply, even when you have basically told them that they will not qualify. It amazes me. I guess they are just desperately hoping to land somewhere and get away from where they are currently. I always wonder about this.

Brad, pre-screening doesn't just save a bit of time the FIRST time you screen them. You now have historical data to mine later, too. We've been pre-screening since 2017 so a quick search through our OWN database turns up the same names fairly often (small beach.) Also discrepancies on the number of pets they own, kids they claim, boyfriends or husbands who have either appeared or disappeared, etc. And all that is before we even schedule anything.

It also gives us self-reported info about incomes over time. This is very helpful when setting rents: I know what FB and CL are showing as listing prices, but can people afford those prices? Mostly, not really. SO we can adjust ours accordingly.

Because we do staggered showings (every 15 minutes for an hour on a scheduled day) we never "waste" more than an hour or two per upcoming availability, and sometimes these showings turn up hidden gems - or otherwise.

Charging application fees prior to showings would have me labeled a scammer in my area, as that’s a common rental scam around here. With everything automated it doesn’t take a second of my time to DQ the deadbeats and only communicate with the qualified. I use a digital application, so they don’t even get the link to it until I have money in hand.

Steve, how do you get around that?

Your competitors deserve these deadbeats so much more than you do.

zero,

It takes about 2 minutes to set up a Venmo account. You can include several accounts for each LLC, etc.

They take 48? hours to verify your account then you are off and running!

Put on your application to pay the fee by Venmo to @ZeroRentals.

I have not had a person yet who does not know or use Venmo. IF not they can set up an account for free.

We get a text and email the moment they pay.

It's the LLs who are too shy to ask for payment from people who are willing to pay.

zero,

It takes about 2 minutes to set up a Venmo account. You can include several accounts for each LLC, etc.

They take 48? hours to verify your account then you are off and running!

Put on your application to pay the fee by Venmo to @ZeroRentals.

I have not had a person yet who does not know or use Venmo. IF not they can set up an account for free.

We get a text and email the moment they pay.

It's the LLs who are too shy to ask for payment from people who are willing to pay.

Back when I did pre-screening over the phone they just lied to get the appointment so they could try to convince me in person. I had no documentation to deny. Legally we cannot deny based on verbal conversation. He said she said in Fair Housing court.

At the showing I would hear "I gotta be honest with you (here it comes!) we just lost our jobs, evicted, and have to be out tomorrow. just need a second chance."

Just get all their info and signature and fee. They WILL give you money.

We don't have to deny the ones who do not pay because their application is incomplete.

BRAD

RayRay,

Yes, sharing is caring. Happy to share the love, er, I mean deadbeats:)

Mike,

I posted earlier. As I remember out of 20, something like 1 approved (he found another home), 3 marginal with problems (family of 7 with 2 dogs, and the one I posted recently who lived with family for 9 years but had no money), 9 denied, 6 did not follow thru with pay stubs etc.

BUT...we got paid for all but a few

Simplify your process and your life, just let them submit an app. You need it anyway to deny or approve.

Reminder: a local property management company charge $75 per person to apply before seeing the home.

Okay Brad, it is now on my short to-do list.

Going to the doctor this morning, then brunch with the boss.

Does it have to be set up as a business or just your name? Obviously I have not delved deeply but I will.

zero,

Use a simple version of your business name and the routing & account number for the money to go to.

Do NOT call it a commercial account cuz those are charged fees.

Or hire a middle schooler to do it for you:)

Brad, help a slow guy out here please.

Earlier you said put on your application to pay the fee by Venmo to @ZeroRentals.

But then you warned against making a commercial account.

If I tie this to my biz bank account won't that set off some alarms? Same with calling it @ZeroRentals?