and about rental application fee's for landlords that use Zillow and zillow only charges a $35 fee that tenants can use for as many properties as they like?
So glad my family (3rd generation residential landlords in 4 states) listened to my advice a few years ago and sold out of california before covid. I saw the writing on the wall. Between labor costs, tenants 'rights', taxes, and insurance, staying in the game is just throwing money away to hold assets there. Just moving the same scale op to another state saved us over 20% overhead and paid for the costs to leave within 2 years. Estimating the impact the covid game had there we would have lost a lot more. And now the insurance issues... Forget about it. There is a reason the entire states rent is like a metro area everywhere else. It's going to collapse eventually. And sacramento is fleecing you all while running the ship aground. Good luck.
Almost all small landlords will eventually want to withdraw from the marketplace. State and local government is actively working against your interests, and they're not going to stop.
what happens if i have a Tenant,,,,good credit score,,,,,the person has a trust fund plus inherited alot of money no job can i pick that person? cause peeps getting laid off and fired every day and charged up on credit card this person is safer
AB2747 positive credit reporting requirement to credit bureaus. Does that mean any renters who defaulted on their rents will also be reported to credit bureaus as well??!!!
so why would someone apply for an Apt if they do not meet the credit score? what fool would do that,,,also I just had a friend that filled out an app for a condo in Hunt Harbour,,,HOWEVER the place was rented 2 days before he filled out app on line for prop mgmt company,,,,he payed 49.00 he fought it on his credit card and won...the credit card company refunded him
No. Absolutely not! Landlords can ask for an application fee for the cost to administer the application and a separate fee for credit checks. There is a limit as to the max that this fee can be but they are not the same!!!
@@LWRC Ok, so if one does not ask for an "application fee", but either requires the prospective tenant to bring a credit report less than 30 days old, or pay a fee for a credit report does that change anything? Also, if someone has less than 3 units, does this new law apply? In the past, folks with less than 3 units were exempt from many of the laws that were meant for large complexes.
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and about rental application fee's for landlords that use Zillow and zillow only charges a $35 fee that tenants can use for as many properties as they like?
I didn't have any luck with Zillow, even after paying the fees.
Because most of the landlords want to run the credit themselves. Want to see your writing and collect the credit signatures themselves.
@andreag8666 what are credit signatures
Zillow is scam
So glad my family (3rd generation residential landlords in 4 states) listened to my advice a few years ago and sold out of california before covid. I saw the writing on the wall. Between labor costs, tenants 'rights', taxes, and insurance, staying in the game is just throwing money away to hold assets there.
Just moving the same scale op to another state saved us over 20% overhead and paid for the costs to leave within 2 years. Estimating the impact the covid game had there we would have lost a lot more. And now the insurance issues... Forget about it. There is a reason the entire states rent is like a metro area everywhere else. It's going to collapse eventually. And sacramento is fleecing you all while running the ship aground. Good luck.
My guess it depends on where you were located in California. We have rentals and have had great luck with them here in our part of California.
Great information, as always. Tyvm!!
Almost all small landlords will eventually want to withdraw from the marketplace. State and local government is actively working against your interests, and they're not going to stop.
what happens if i have a Tenant,,,,good credit score,,,,,the person has a trust fund plus inherited alot of money no job can i pick that person? cause peeps getting laid off and fired every day and charged up on credit card this person is safer
Thankyou for the information😊
AB2747 positive credit reporting requirement to credit bureaus. Does that mean any renters who defaulted on their rents will also be reported to credit bureaus as well??!!!
so if i pick one tenant....do I have to refund all the other app fees to the other people
so do i have to return all the app fees to everyone
California laws get dumber every year. Absolutely absurd!!!
so why would someone apply for an Apt if they do not meet the credit score? what fool would do that,,,also I just had a friend that filled out an app for a condo in Hunt Harbour,,,HOWEVER the place was rented 2 days before he filled out app on line for prop mgmt company,,,,he payed 49.00 he fought it on his credit card and won...the credit card company refunded him
What if we Zillow?
Is the application screening fee the same thing as asking for a credit report or background check?
@@ShortShortTrailer Good question, yes, that's what is typically included in the fee.
No. Absolutely not! Landlords can ask for an application fee for the cost to administer the application and a separate fee for credit checks. There is a limit as to the max that this fee can be but they are not the same!!!
@@LWRC Ok, so if one does not ask for an "application fee", but either requires the prospective tenant to bring a credit report less than 30 days old, or pay a fee for a credit report does that change anything? Also, if someone has less than 3 units, does this new law apply? In the past, folks with less than 3 units were exempt from many of the laws that were meant for large complexes.
Curious if you are a landlord as well
Aww missed the live.
@sl4983 don't worry, lots of livestreams are coming this year!
The land of fruits and nuts, Commiefornia. Gavin Newscam.
Good luck knowing if landlords are actually following these rules 😂😂