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Re: Pro's and Con's to owning rental realestate...
by Anonymous
on November 21, 2009 @12:30
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It is an interesting proposal. It certainly would be worth something if a LL could simply call a number and have a ready, willing, and qualified tenant ready to move in at any time. However, it think the idea is impractical on several levels. LLs can have openings at any time of year or even at any time of the month. How could you have a tenant who could move in immediately (so there would be no loss of rental income) when they don't know when a unit would become available to them? How could they give their current LLs the required amount of notice to vacate? Who would screen the application? Would this be done by you or by the LL himself? Who would pull the criminal background checks, the credit reports, verify employment and income, get references from current and past LLs, verify the current & former addresses of residence, and so on? What standards could you use to qualify tenants? Every LL uses different criteria based on his own needs. Some accept pets, smokers, small misdemeanors, medical judgments, etc. Since you could not possibly know every LL's criteria, how could you state that the tenant would be qualified to rent from me? Would you guarantee that? Or would you merely provide an application, with no guarantee of any kind that they could be qualified? Agents do this now. They submit applications and are paid a fee (up to one month of rent) if the applicant is approved and moves in. If all you provide is applications with no guarantees, any agent can already do this. There would be little value in it.
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Re: Pro's and Con's to owning rental realestate...
by mike (texas)
on November 22, 2009 @02:33
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Thank you for your response. It is appreciated that you took the time to answer it the best you could as well as ask many questions. To be honest, I never knew how loaded this question was and furthermore have not thought it through so thoroughly. I don't have any asnwers for you as I am just a student, not a business owner campaigning for use of any services. I was hoping for, and should have stated it beforehand, an "in a perfect world" kind of answer where the reader just takes the question at face value, answers is and moves on. I have definitely learned it's not so simple. All that aside, thank you so much for your kind response. It has been a learning experience.
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Re: Pro's and Con's to owning rental realestate...
by Anonymous
on November 22, 2009 @15:34
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Mike, Unfortunately, LLs don't think in terms of a "perfect world". They think in terms of the REAL world. There is no sugar coated anything for us. We work in a circular cycle. Only a world of business where there are applications, current tenants, move outs, damages, and repairs. (Then repeat.) You might as well ask Walmart, "if the perfect shopper could find the exact product he wanted at only $1..." Perfect world answers just can't be fathomed in a business world. s the paper supposed to come up with a product, a solution to a problem, or just a general business idea? Try re-thinking the thesis of your paper. Possibly expand it to encompass why this cannot possibly work. Good luck.
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