Tenant has low credit but offered 1 year rent upfront

[Ned Micic]

Hi guys, I had a potential renter approach me and tell me that his credit is low but he will pay 1 year rent upfront in cash. It sounds good but I feel like this is a huge red flag. Anyone ever experience something like this? What are the cons of taking 1 years rent in one lump sum?

[Mindy Jensen]

@Ned Micic , I work here at BiggerPockets, and my job has me in these forums all day every day. I see this question every so often. 

Everyone on the site always says "no, don't take the year upfront." Everyone. Some people still decide to take their chances because "they are a good judge of character" or "they are good at reading people" and feel confident they are good people.

And every time someone accepts upfront rent, it turns into a disaster.

Don't look for reasons to qualify tenants. It is FAR better to have a unit empty for a month, than to evict someone who doesn't meet your criteria.