I have created a my property in smart move.
What should I give the tenants to apply through smart move?
smart move Property id?
There is an option to send application invitation for the property. All you need is their email addresses.
Once they get the invitation email, they should accept and pay background check fee.
Then, they will generate screening report for you shortly.
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Got it. OMG, it is simplified and easyā¦ Thanks again.
BTW, I still check paystub for income verification after this report.
If I see something unclear (for example, if tenants had delayed payments in credit report etc), then, I requested reference from current landlord. I rejected one application because current landlord letter (auto generated by big apartment complex company) showed multiple delayed payments. I asked for reference because their credit report showed delayed credit card payment.
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Yes, income verification and landlord references are in my list. Long back, in year 2008, I went through all these processes. From now onwards, I am planning to maintain myself instead of property management.
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Jil: Speaking of rent payments, consider having tenants use an online system if you havent already. It has worked well for me and can automatically reject partial payments which sometimes gets tricky with checks. Hope you find a great tenant and Go back to appreciating your rental/s!
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Which online system, any reference?
I use erentpayment. I think Cozy is also popular but I havenāt tried it so I cannot compare.
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I use cozy. So far so good.
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How long are you using it (Cozy)? How do they transfer money to our account? Do they provide tax document or ask SSN? Any issues?
Is there any way to stop accepting excess payment? Supposing they pay additional $10 over the rent, do we have reject the payment option?
I have been using a little over a year.
I set up account and rental property and attached my bank account.
I designated the exact rent amount during the rental property set-up.
Then, I send an invitation to my tenant.
They followed the step and attached their bank account to cozy.
They also provided renterās insurance information to cozy account as well. (Cozy asks for it by default.)
Both my old tenant and new tenant set up auto payment.
Interestingly, I received the payment to my bank account on 1st of each month with my old tenant.
However, with new tenant, I see payment on my bank account around 5 or 6th.
However, cozy said that my new tenant set up auto-payment on 1st.
My speculation is that my old tenant set up auto-payment a few days earlier than 1st?
Anyway, other than this little variation (which I donāt care much), I havenāt run into any issue, so far.
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Curious why would you want that?
I have used Cozy and will recommend it.
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You need to have options to reject payments when you are in eviction process. If you do not have rejection method, eviction will be reset and you will not be able to evict your tenants.
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If youāre a landlord, you really need to know that. Gotta stay educated!
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I knew that accepting a partial payment will stop a ā3-day pay or quitā notice.
But are you sure that it also stops a ā30/60/90 day notice to vacateā?
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Yes, legally it resets, that is why my tenantās crooked lawyer did that purposefully. That lawyer is 40 year experienced real estate specialist in bay area, knows all the dirty tricks and loop holes in the systemā¦ My niece is also a lawyer now, just cleared bar exam. She is equally intelligent to catch the legal issue of resetting the notice. She was the first one to inform me that it resets. Then, I checked my lawyer, he also admitted it resets.
There is a workaround that we can send back the check without assigning any reason, but that is weak point legally. Tenant may claim they did not receive any return check. Judge may allow them to continue (reset)ā¦
postal rule applies.
that does not make sense to me, at least in that broad way.
If today, 9/20/, I give someone a 60 day notice to vacate by 11/30/, then it is perfectly normal that the tenant continues to pay rent during these 60 days.
Again, Iām talking about a notice to vacate. Not a notice to pay.
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Correct, you can prove it before judge. But to go to judge, you need to spend $150k and 24 months wait time.
When you give notice, they are allowed to pay rent as usual. There is no issue with it.
Supposing you give 60 day notice, they pay 2 months rent, that is normal.
Just before 60th day, say 59th day, they automatically transfer $100 (excess) and they can say (lie) to judge they talked to you in person to extend the stay and paid $100.
Since you received that excess payment (accepted automatically), you do not have counter argument/proof that verbal agreement is false. For court, it is written proof matters.
the real issue is that the judges tend to side with the tenants.
Written proof is required from the landlord only.
The tenant needs NO written proof of that ātalk with the LL in personā.
It is good that you bring this up. Iām glad you did.
Iām about to give someone 60 days notice soon, and they pay rent by directly putting it into one of my accounts. Iām going to close that account/ reopen with a new number. Iāve got checking accounts with all major banks, so only 3 tenants use this particular (Wells Fargo) account, and I only need to notify 2 of the change.