Having a few rental properties is a great way to make some money on the side. Not only can you enjoy the beauty of a mostly hands-off business, but you can use your rental properties as a way to keep money coming in when your other income streams are limited.
But there is some stress involved with managing rental properties. From handling rental applications and lease agreements to weeding out potential scams, there’s no shortage of stressors when it comes to being a landlord.
If you’re ready to sign off on some of that work but still enjoy the benefits of managing properties, you might want to give Turbo Tenant a second look.
In this article, we’ll tell you everything you need to know, including answers to common questions like “is Turbotenant.com a legit website?” and “is it safe?”
How Does it Work?
Turbotenant.com is an app that makes managing your rental properties incredibly easy. All you have to do is add your rental with all the property details to draw in potential renters. Then, you’ll set up marketing, which will enable the system to advertise your property on dozens of listing sites.
You can ask your applicants all the questions you want and even conduct a credit check or background check. The system will handle everything for you so that you can track your renters all in one place.
With Turbo Tenant, there are plenty of ways to make your listing shine. You can add gorgeous photos to grab a reader's attention and then provide all the information you might need about the property. You can add various property features, too, before moving on to marketing.
You can post the listing across the web, including on Facebook Marketplace, Craigslist, Realtor.com, Apartment List, and more. You’ll be able to track all of the renters that express interest in one easy system.
Turbo Tenant even makes it easy for renters to find you via a third-party listing site. You can also send links directly. As soon as you get a renter’s application, you can request a screening report and you’ll get all kinds of information about the tenant, including their criminal background, credit report - even past evictions. You can screen tenants quickly and easily. The system even makes it possible for tenants to supply emergency contacts and to e-sign lease documents.
Cost and Price Plans
Signing up as a landlord is free. For absolutely no cost, you’ll get access to one-click rental marketing, a professional property listing page, a pre-screening questionnaire, a comprehensive online rental application, credit, eviction, and background reports, and even past landlord reference requests.
You can pay a bit extra for premium marketing services in some areas, but it’s important to note that these are not available everywhere. All free plans include basic marketing.
There are other services you can pay extra for, too. For example, you can use the Rent Estimate Report for $14.99. This will help you figure out whether your rent prices are fair by comparing them to other properties in the area. You can also download useful forms for $99.99 or collect online signatures for $9. You can also sign up for state-specific lease documents from LawDepot for $29.
Applicants, on the other hand, will pay an application fee between $35 and $45 for an online rental application. This application can be completed on a tablet, phone, or computer. The credit check does not impact a renter’s credit history but instead allows landlords to gather information in a safe, secure way. All fees go back to Turbo Tenant - this is how the company makes money.
As an applicant, you might be wondering, “what does Turbo Tenant check?” It includes a plethora of information that would ordinarily be included on a rental application anyway. Your potential landlord will get information about your payment history, fraud indicators, credit, criminal background, civil records, collection history, and more.
Competitors and Alternatives
Turbo Tenant is a truly unique system - there aren’t many others that are like it! In fact, if you’re comparing Turbo Tenant vs. Zillow or even vs. Cozy, you’ll likely find a few similarities. The services are quite a bit different.
Zillow, for instance, is a service that markets homes and apartments both for sale and for rent to customers all over the country. Turbo Tenant actually partners with Zillow to list some of its rentals.
Cozy, on the other hand, is a similar property management software that allows you to manage things like rent collection, payment requests, and rental applications. It’s not as good of a marketing tool as Turbo Tenant, although this can be done with Cozy, too, if desired.
Online Customer Reviews/Complaints
Customer ratings for Turbo Tenant are, for the most part, positive. If you’re wondering “does Turbo Tenant collect rent?” rest assured - yes, it does. This is a new feature and offered in response to complaints that the system was lacking this feature until now. With them, you can allow your tenants to pay by bank transfer, which is totally free, or with credit or debit card (for which there is a 3.49% processing fee).
Turbo Tenant is not BBB accredited but still has an A+ rating with the organization. With 15 complaints closed in the last three years, there are very few issues with the service outside of occasional issues with billing or collections.
Need to get in touch with customer service either as a renter or a landlord? You can call the customer service phone number at (719) 966-7368. You can also visit the company headquarters in Fort Collins, CO or email at [email protected]
Where to Buy?
You can sign up to use the service as a landlord by visiting the company’s website. You can view available listings on the website or by visiting any of the partnering organization’s websites, like Realtor.com or Craigslist.
Is It Worth It?
So is Turbo Tenant worth it? Absolutely. If you’re wondering, “is Turbo Tenant safe/legitimate?” you can rest easy knowing that it’s well worth your time and likely won’t cause you any undue stress, either.