Which tennant is better

Question

I currently have two applications:
1. A single man who just divorced and got debts from the divorce. He said his credit was serverly damaged by divorce, so he would like to prepaid 10K around 7 month rents but he don't want me to check his credit history. He used to owned a house for around 20 years and he have to sell it becuse of the divorce.

2.  3 ladies, grandma 85 years old, mother, 57, and daughter 33. Their combined income is $5600 around 4 X the rent. My concern is the if one of them wants to move out, rest of two may not able to afford the rent. Daughter and mother used to live together for 6 year in another house, the rental history was good.

Albert Hasson · Answer

I would be very wary of someone who doesn't want you to check credit and pre-pay 7 months rent.  Those are big red flags to me.  I wouldn't be surprised if there was a criminal history. I would go with the second set of applicants.

Bill Gulley · Answer

Tell the guy you don't care what the credit is after the divorce, that you understand the reason but that credit has to be pulled to follow policy for legal reasons as a landlord.

3 women can be nasty housekeepers too. Understand they won't fix anything and may call about anything. As mentioned put all three on the lease in this case.

If the guy checks out, criminal history and see what prior credit was like before the divorce, he might be the better pick, but I'd say there is more to both selections to consider. :)

Joe Bertolino · Answer

How many grown children, kids, cats/pets, boyfriends, etc come along with the three women in option #2... that would be my question.  For option 1,  I would run a background check (not credit) and job references.

T Lee · Answer

If he is a former homeowner, then he probably does not have a rental history. Thus, checking his credit is very important b/c it will tell you if he was ever late with his house payments.

Joffrey Long · Answer

First, I agree with Ibrahim S that inspecting their present residence is great.  And, people get the message when you do that - they know you're a caring, hands-on landlord. (if in fact that's true)

Here's my take:  I agree with others that 7 months advance rent doesn't make a bad tenant good and that you must run his credit regardless of what ultimate decision you make.  Just for the record, CAREFULLY check this guy's I D and present residence documentation (mail he received) etc.  He's a candidate for identity fraud.

But on the ladies, here's my advice:   (I mean, on renting to the ladies, other issues with ladies - don't listen to a word I say, or better, listen and do the opposite. )

OK - I've had many of these 2 or 3 adult arrangements, sisters, roomies, woman, Mom and Cousin, and here's the bottom line difference between success and failure, in my humble opinion:

It is, if there is or isn't ONE key person in the group, that "runs" the household, talks with  you, requests maintenance, gathers rent from others and forwards all of it to you, and as several of my "key people" if you will call them, have done, re-rented parts of the house when one of their roomies left.

I've got one "key person" that has "run" the house for 8 years, always dealing with the revolving door of roomies - place looks fine, and it's occupied, and all I ever have to do is return his calls when the _ _ _ _ _ isn't working.

Another story that amazed me- Karen - main person with her aunt and cousin as roomies.  One day, she called.  Aunt had moved out, but she had already replaced aunt and wanted to send me the info.  Her cousin (the other roommate)  (are you ready for this) was on drugs one night, came home, and stabbed her.  Yes, I said stabbed.   She (Karen) recovered, kicked the cousin out, and I heard about all this 3 months later, rent always paid, house looked good, new tenant put in to replace the one missing tenant and Karen only wanted to know what the procedure was for the new person to apply, get approved and sign the rental contract.

Karen is a more than perfect example of a "key person."

Whew!    Being a "housing provider" can be fun.  But, I find that after 37 years of it.........I'm still mainly a student!!!!

Joffrey

Rob K. · Answer

I agree with others that you should run all of your checks on applicant #1. I would want to see his credit report to see if there are judgments from landlords or apartment complexes. Let him know that you're not concerned with his bad credit, you just want to feel comfortable that he will pay. The seven months up front is great. I have a tenant who's parents pay the rent six months at a time in advance. It works out great.

If you go with #2, I would make sure the 57 & 33 year olds qualify on their own. They lived together for six years, so they have a good history. The grandma is past her life expectancy and could be gone next week. If she is the breadwinner, that could spell future problems for you.

Ibrahim Hughes · Answer

You absolutely MUST inspect the premises where they currently live. It can tell you AMAZING things about your future with them.

Mike Franco · Answer

Agreed. Always check credit and background.
Insist on it.

Tell #1 that you know his credit will be messed up, but you still have to check it anyway.

Stephen White · Answer

Can't comment on which you should choose until that background check/screening is complete for both. No exceptions! If ANYONE requests that you not perform a background check on them it should be a huge red flag. Maybe after you run that screening your answer will be much more clear

Robert Steele · Answer

Hmm, are the elderly a protected class? Can you discriminate based on age?

6, 7, whatever months rent up front is a big red flag for me. Some landlords like it - some don't.

In either case there is no way I would not run this guys credit report.

Which tennant is better

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