Updated over 8 years ago on . Most recent reply
Full year up front payment for rental?
I have a potential tenant who just sold his house and wanted to pay for a full year up front on one of rental properties.
My first instinct is that this sounds great.
What issues should I worry about, if any and what modifications should be added in my current lease?
Thanks in advance
Most Popular Reply
I would never take all the rent upfront for several reasons.
1. Is it drug money instead of "money from a house sale"? Many drug dealers with no verifiable income and credit will do this to entice landlords. You don't your rental turned into a meth house!
2. Why would they be willing to trust someone they don't know with a year's worth of rent money?
3. They turn out to be a bad tenant and now you can't get them out.
My "spidey" senses go on hyper when someone offers this. If it's too good to be true it probably is...