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9 months ago
I have a self-directed IRA which has an LLC that is used to purchase real estate to use as rental properties and other types of investments. The IRA owns the LLC, and the IRS allows me to be the manager (but not be paid for doing it). I have been using the EZ Landlord leases which are excellent for several years for the IRA's rentals. Previously I would just put a “FOR RENT” Sign with a phone number in the front yard and then had the potential tenants submit EZ Landlord detailed applications and submit credit scores. I would then be able to determine which would be the tenant. But now, this is the first time I have used Zillow to put one my rental properties online. Has anyone in the forum used them before? If so please let me know if there are things, I should know that are good or... bad in Zillow's process of getting the right tenant that can afford the rent, submit the security deposit, etc. and allow me to use an EZ landlord leases. * And please advise any other things I should need to know regarding using Zillow.
9 months ago
Like you, I have been using ezlandlordforms, In my case, I have been using ezlandlordforms forms for many years and would be very apprehensive to leave.They are not perfect but they are tremendous. Zillows application needs to be compliant with all laws in all states and so they have softened their data requests and sharing. They also allow every applicant the ability to share their application with more than one landlord at no charge for 30 days so lots of declined applicants can send you their application and if its not within your required qualifications, you need to send a decline letter to each applicant. Unfortunately, Zillow does not have a context sensitive or easy to send define memo so if your going to comply with all laws and I do, its a manual creating and sending process. Zillow uses different partners than ezlandlordforms forms and so you have to also use their customer service teams which I found slower to reply to questions. With Zillow, you have to send an email and wait for a cryptic reply which is often, an incomplete response. Transunion is the back room screener for EZlandlord forms and I found their reports more detailed, more complete if you will or put differently, more complete. When I have a problem, and one in 15 or 20 applications dont go as smoothly planned, I can chat with ezlandlords and or get Transunion on the phone and ask a question or two. I have also been able to connect an applicant with them to assure the applicant gets good and prompt customer service too. I still think Zillow has the best property promotion tools and websites. When a property marketing is going slow I add, Apartments.com or realtor.com and their partners. But I typically do my tenant applications, leasesand followup memos through ezlandlordforms. I am not a school or rep for ezlandlordforms, in fact, they probably think I am a high maintenance customer but they are very important to our small self management business. Hope this helps.
9 months ago
I agree that using EZ Landlord Forms is the best for creatinf lesase and other things needed to make one's renatalproperty complete and safe. The good news is that contacted Zillow and they agreed that I can meet with the potential tenant and sign the EZ Landlord Forms lease with them.
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