Updated about 9 years ago on . Most recent reply
reasonable alternate income verification
I have a unit that I am renting out for 750/mo.
A couple wants to apply who just relocated from Taiwan. They do not have current jobs, and have been out of the Country for 3 years. They were working in Taiwan. I will perform a credit background check to ensure other items are on the up and up.
They state they are looking for work.
I stated they must prepay 4 months rent provide a $400 deposit.
Lastly I would want to see $6000(1500/mo) in reserve.
Is this extreme? or fair?
Mind you normally I want $2250 gross per month for someone who is working.
Most Popular Reply
I don't like the idea of taking prepaid rent. If you decide to evict them, you have to wait until their prepaid period runs out. Take it as a deposit instead and don't say anything about "prepaid" rent.
A $6000 reserve for a $750/mo apartment definitely does seem extreme. If they can cover the first month and deposit and show a reliable source of income, I would think that's more in line.