Rentals in Kirkland>Question Details

Carmen, Renter in Kirkland, WA

what is the safest method of handing over $$ requirements when renting. Want to be safe if not going thru real estate property management?

Asked by Carmen, Kirkland, WA Wed Jun 1, 2011

Trying to rent a home or lower level of a house but if renting from a private party I want to be careful about handing over money for the deposits and upfront costs to get in.

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Go through an established property management company and you won't have to worry about unscrupulous private parties. Can't get much more safe than that!
1 vote Thank Flag Link Thu Jun 2, 2011
To those answering from out of area, the bulk of rentals here are not in the property management or agent domain...most are on Craig's List by owner. You would miss too many opportunities to only look at those with agent or Property Management Company participation.

That is more true fro anything larger than a two bedroom, one floor, condo.
0 votes Thank Flag Link Thu Jun 2, 2011
If more than 50% of the houses in Kirkland are uipside down mortgage wise, you have a 50% chance of renting from someone who is on the brink of foreclosure. You will need a professional to check out the quality of the landlord. Doing it on your own is a real risk in this marketplace.

DAVID COOPER. Foreclosure and Bank REO Buyer's Agent at Verticle Realty-Las Vegas. 35 years experience. FReee List +1-7024997037...davidcooper@lasvegaswinner.org
0 votes Thank Flag Link Thu Jun 2, 2011
Just make sure you have a canceled check, receipt, or a stub from the cashiers check or money order & keep them somewhere safe. That should be enough.
0 votes Thank Flag Link Thu Jun 2, 2011
There are laws that protect you. Just get good receipts. If it is a private owner, make sure you check their mortgage to value ratio to check if it is likely to end up in foreclosure, before signing any long term commitments and handing them any money. Any agent can do that for you.

There are too many good rentals done privately for me to agree that you should overlook them. But you do have to watch yourself and do your due diligence.

I had a past client call me before giving the owner the money and it took me a few minutes to check it out. It was scheduled for foreclosure in 45 days and he was signing a one year lease. We caught it just in time. Still...you want to find the best place for you without restriction, and too many great properties are direct from owner on Craig's list.

HOW you convey the money is not as important as doing your due diligence investigating the owner and keeping good records, receipts, and photos of condition at the time your rent it. Take close up photos of ANY defects BEFORE you move in, with a witness - and date stamp on the photos. Not a bad idea to google the owner's name and get as much info as possible. The more you know about the owner, the better you will feel about moving forward.
Web Reference: http://askardell.com/
0 votes Thank Flag Link Wed Jun 1, 2011
a cashiers check or money order is a good way to go. But, its safest to use a management company or real estate agent to locate a good rental property in my opinion.
0 votes Thank Flag Link Wed Jun 1, 2011
In this high foreclosure market, it just doesn't make sense not to use a property management company who has already prescreened the owners.

........

David Cooper! Las Vegas Foreclosure Investor in Bank Owned REOs. Save 20% with Freee List
email: davidcooper@lasvegaswinner.org or +1-7024997037
0 votes Thank Flag Link Wed Jun 1, 2011
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