Leasing to Waiter/Waitress

3 Replies

Not sure what to do here:

I had a young couple apply for a $1000 a month home, they are both servers at a  restaurant.  I have a letter from the manager on the length of years they have worked there and that they make $600-$800 a week  but their hourly is only $3.10. They both live with parents and don't have rental history. Tax returns will do me no good as they will only claim a portion of their income, I have the last 2 months of bank statements with cash deposits shown. They are a very clean cut couple.  The total move in amount is $2700 and between the 2 have around $5000 in the bank.  

@Tony H.  

 Ill be interested what kind of responses you get on this but what you are asking seems to be a judgement call situation. Servers make up a lot of jobs nationwide but how many do it as a career?? Where is your couple heading... in school full time? Will their parent co-sign for them if need be? Do they seem clean cut but work as a server at a trashy strip club? Are they driving cars that you know will eat up at least 2 weeks worth of tips?

What does your gut tell you?

@Tony H.  

Another good strategy is to have the pay you 1/4 of the rent weekly.  They work in a cash based business so get to that cash before they spend it on their car, etc.  It will help their budgeting process and help assure that you get paid.

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Originally posted by @Aaron Montague :

@Tony H.  

Another good strategy is to have the pay you 1/4 of the rent weekly.  They work in a cash based business so get to that cash before they spend it on their car, etc.  It will help their budgeting process and help assure that you get paid.

 I agree with Tony I have had several tenants that waiters and the best thing that i did was have them break their monthly rent in to 1/4 weekly. And its nice because you make more money  12X4=48 and you get 52 payments. And if they get tight on money you know it right a way. 

Although renting to people that work in a volatile cash industry is not preferred. Neither are empty units.

Hope this helps.