Posted by bob on July 03, 2001 at 08:07:04:
I agree. The security deposit should NEVER be the same as the rent payment & should be greater. You should also try to get the lasts month’s rent, if possible.
Screening Tenants - Posted by Joe
Posted by Joe on July 02, 2001 at 22:39:44:
I live in the Detroit suburbs and am getting ready to rent a 3/1 SFH I recently purchased. Can anyone recommend an efficient and cost effective service to screen applicants and do a credit check. Also, do you charge your potential tenants a application fee for processing their apps? One other question on rentals, do you typically charge First, last and security, first and security or any other combination?
Re: Screening Tenants - Posted by TJohnston
Posted by TJohnston on July 03, 2001 at 15:58:35:
Hello Joe
I also live in the Detroit suburbs and as you might know it depends on which suburb or county that the home is located in. If it is in a area like troy or farmington, livonia, etc. then it is very common to have to pay 1st. and last months rent plus security. But if it was allen park or dearborn it is very hard to get that out of people. you should always charge a fee for processing because know one will do a credit check for you for free maybe online but not in detroit. well i should never say never.
Re: Screening Tenants - Posted by PBoone
Posted by PBoone on July 03, 2001 at 04:29:28:
Joe,
Contact you local apartment association to help with the services mentioned, they can recommed local services to suit your needs. As far as cost, we have the tenants pay all costs associated with thier move in including screening checks.
Our fees are first and a security deposit in the amount equal to rent plus about 10% so as not to confuse it with last months rent.
Pat