Potential tenant is applying from long distance before job transfer goes through!?

Question

Hi everyone!

My boyfriend and I are new property owners and are working to fill a vacant unit.

There are a couple of girls (two cousins and one's newborn son), who have seen the property/unit and applied to live there. They have filled out the applications, have gone through the credit/background checks, I have spoken with a previous landlord, etc.. For income being 3x the rent, they qualify together.

The most previous landlord was one of the girls fathers (I did not call him since they are related), and they both lived with him in Southern California. The landlord prior to that is from Northern California (where our available rental is located), he said that there was never an issue with rent being paid, and they were great tenants.

My concern is coming from employment. The first girl has worked with the same company for 5 years and will be transferring locations within the same company. The second girl however, has a masters degree in psychology and is working for a health company right now in Southern California and wants to transfer back to Northern California to her old job (another health company). She will not receive full confirmation until next week when the company gets back to her regarding an open position.

Both girls have offered to a pay higher deposit if needed.. Should we approve them as tenants (with or without co-signer) or wait for the job confirmation next week? And should we continue to market the unit until they know for sure..

Hopefully someone has experience with this!!

-Taylor

Nicholas Crum · Answer

If there are multiple applicants, we run both separately but we take the applicant with the best credit to determine the deposit. In Florida if someone doesn't have the greatest credit we charge and extra $200. If they barely pass our credit criteria we require 1 month's deposit plus they have to sign up for direct deposit from there pay checks. I am not sure what the laws are in California on what you can and can't charge for deposit.

Taylor Comer · Answer

@Fred Heller

That is very true! Nothing ever works exactly according to plan.

@Nicholas Crum

The first girl does not make 3x the rent, they qualify together for the income limit but not separately.

An offer letter would be perfect. I'll let them know we will put the application on hold until full acceptance from her new job.

Also, if the first girl does not have good credit (she told us this from the beginning due to medical bills), should we make her pay an extra deposit, if so how much more is normal?

The property is not in the greatest neighborhood, so I can't assume that anyone has extremely high credit or income!

Nicholas Crum · Answer

Does the first girl make enough on her own to cover the 3 times the amount of the rent? If so, yes. If not, you could ask the other girl for an offer letter of some sort stating what she will be making. I would require some kind of document stating she will have a job. This is what I require at the apartment community I run. They must have written proof of employment.

I hope this helps.

Fred Heller · Answer

I would wait for the job offer to come through. If there's one thing I've learned over the years, it's that expecting something to work out one way almost guarantees it will work out another way.

Potential tenant is applying from long distance before job transfer goes through!?

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