Dangers of Renting Property on Craigslist?

Discussion in 'Landlord & Rental Property Questions' started by springbreeze, Nov 1, 2014.

  1. Investor

    Investor Well-Known Member

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    Do not rent property without consulting a Real Estate Agent and an Attorney-at-Law, without do so, you will end up in deep problems in time to come when the tenant starts to behave crazily. Character references are an important part of this process, if this is done, you will at least know who knows your tenant and then you will get a better understanding of your tenant's status and character, from there, it will be easy deciding if you want that person as a tenant or not.
     
  2. Glcameron

    Glcameron Well-Known Member

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    I completely agree. You want to do some of the following :

    1. Application- You can use Zillow and require them to complete an online application. This will allow you to see their credit score and important information on the tenant's past without having to pull that information on your own. This is often provided to you with any supporting reference documents the tenant may want you to take into consideration. I realize some renters decide to look past a credit score due the economy but it does help to see their past rental history as well as if they have the propensity to pay their bills on time.

    2. References- Make sure you take the time to carefully construct a list of questions to ask each reference. It should go far beyond just how they kept the home but it should also go along with whom they are as a person. I suggest allowing the tenant to include one personal reference, 3 previous landlords and 2 employment references. Cover your bases when it comes to whom will take your home.

    3. Documentation - Make sure you have taken the time to take pictures or video tape the property before allowing them to see it as well as video taping the walk through process. This will help if there are any issues that may arise with going to court. You want to ensure that you are not being left out with the bad end of the stick. Keep an electronic copy of ALL documents associated with the rental and make them available to the tenant as well. I often upload the documents after they have been signed as a pdf.

    4. Contracts -Consult with a property manager or lawyer to construct the perfect leasing agreement ensuring it covers you completely. I require the tenant to obtain renter's insurance on any of my properties before taking residence. I like to know that this is a clause in the agreement because at any time the insurance lapses I am able to call and check with the insurance company, requiring documentation to support this and ensuring the tenant is aware this is to protect them/ me. I make sure I go over each section with the tenant in the pressence of a notary or my lawyer before allowing them to sign.


    Hope those tips help.
     
  3. Muthoni

    Muthoni Guest

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    The world has become so dangerous today that renting property from Craigslist or any website that provides anonymity must be done with extreme care. I guess bringing along a friend while viewing a property may be a good thing. The problem is that thugs are very clever and can make a plan to rob you and your friend when you go to view this property. Find out where the property is beforehand so that you can trust your gut feeling.
     
  4. SteakTartare

    SteakTartare Senior Investor

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    In this day and age, I wouldn't handle rentals myself, but rather would have a property manager deal with it. Sure, it cost, but they can handle the background checks, paperwork, minor maintenance, etc. There are too many nuts out there and too many other things to attend to to bother.
     
  5. SamClemensMT

    SamClemensMT Well-Known Member

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    I think there safety in numbers. There is no sense in meeting a perfect stranger in a situation where harm may come to you. I'm not saying you should be paranoid. Just be careful, and if you think its a good idea not to go alone you should travel with a friend or an associate to show the property. I'd bring my dog.
     
  6. Strykstar

    Strykstar Well-Known Member

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    I really wouldn't rent to someone on Craigslist, there are just too many risks.
    There is a place for everything, Craigslist is a fine place if you're looking to get rid of a couch, buy concert tickets or even looking for people to hang out with?
    As for renting out my property through there? No thanks, serious people aren't looking there for rental places either...
     
  7. Brocker411

    Brocker411 Guest

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    People who worry about murderers using Craigslist to lure tenants have been watching too much TV. It would not be smart for someone to register a Craigslist profile online to commit a serious crime, especially murder c'mon! Have a phone conversation with the individual, consider where they're situated and use your intuition. It's like anything else in life.
     
  8. JR Ewing

    JR Ewing Super Moderator Staff Member

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    Most criminals aren't all that smart.
     
  9. Fredrick Jones

    Fredrick Jones Well-Known Member

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    Assuming that you are advertising your place for rent, how is advertising on craigslist any different from advertising on any other website, placing an advert in a newspaper etc. Criminals can read advertisements in any of these places and potentially rent your place. There are criminals who hang out in churches or religious organizations, so if you posted on a church forum, possibly he might rent your place and then kill you.

    I met a couple of convicted murderer's before after they got released from prison. Appearances can be extremely deceptive, these guys looked extremely mild mannered and as if they would not hurt a fly.

    Regardless who you rent to, do a background check, find out where he works, maybe search online. If he has a social media account check that.
     
  10. Onionman

    Onionman Senior Investor

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    I'm too paranoid to go down the Craigslist route. I'd rather pay for a little extra peace of mind rather than look to save a little only to be scammed. I'm sure a lot of people do a lot of genuine stuff on Craigslist, but there are enough horror stories for me to be a bit circumspect about using it.
     

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