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Updated about 2 years ago on . Most recent reply

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Taylor Robertson
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26
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Should I allow neighbor's daughter to rent my property?

Taylor Robertson
Posted

Just closed on my first deal last week-- a duplex househack. I was planning on starting to advertise for the vacancy this week and have it available within a few weeks. I was moving in over the weekend and the next door neighbor and his daughter (mid twenties) came over to introduce themselves to me. They said that she wants to rent the unit and asked me not to list it. He's older, retired, and lived there 15+ years, so I believe so he'd like to have her close by. She is a single mother with two daughters no pets. The only problem I can think of is that it is a higher end rental for my local market and I'm not sure if she'd qualify making 3x income to be able to afford rent. However, my agent told me he thinks her dad would be willing to help her on the rent if she can't afford it all herself. I know this contradicts basic landlording 101, but due to the fact that he's literally next door and wants her to move there as well, should I make an exception due to the circumstances if this is the case? This obviously would be contingent on her meeting my other minimum standards, passing a background/credit check, and getting good references. Any thoughts? Thanks

Most Popular Reply

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2,180
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Albert Bui
  • Lender
  • Bellevue WA & Orange County, CA
1,437
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2,180
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Albert Bui
  • Lender
  • Bellevue WA & Orange County, CA
Replied
Quote from @Taylor Robertson:

Just closed on my first deal last week-- a duplex househack. I was planning on starting to advertise for the vacancy this week and have it available within a few weeks. I was moving in over the weekend and the next door neighbor and his daughter (mid twenties) came over to introduce themselves to me. They said that she wants to rent the unit and asked me not to list it. He's older, retired, and lived there 15+ years, so I believe so he'd like to have her close by. She is a single mother with two daughters no pets. The only problem I can think of is that it is a higher end rental for my local market and I'm not sure if she'd qualify making 3x income to be able to afford rent. However, my agent told me he thinks her dad would be willing to help her on the rent if she can't afford it all herself. I know this contradicts basic landlording 101, but due to the fact that he's literally next door and wants her to move there as well, should I make an exception due to the circumstances if this is the case? This obviously would be contingent on her meeting my other minimum standards, passing a background/credit check, and getting good references. Any thoughts? Thanks


 Qualify her as any other tenant requirements and have her father co-sign on the contract to make it rock solid or require additional first and last months rent or additional security deposit if the law allows for it.

  • Albert Bui
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