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General Landlording & Rental Properties

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Nathan E.
  • Orlando, FL
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39
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Beware the overqualified tenants

Nathan E.
  • Orlando, FL
Posted Oct 16 2014, 02:00

Well I just had another experience with leasing out a single family home. My tenants looked to be perfect. They are an older couple, both working age with no kids, good credit, and enough earnings that the rent as a percentage of income was in the teens. Looks perfect right?

Well yes and no. These tenants are responsible people meaning that the rent was always paid on time, the house was kept in good order, and generally I didn’t get a lot of hassle. The problem is that they didn’t need to be renting. Before the end of the lease, I got the call that they had an offer accepted on a house in the area and wanted to break the lease. We worked out a deal where they would pay for the month that they move out giving me some extra time to get new tenants.

While I still rate it as a good experience, this is just one more thing to think about when selecting tenants.

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