Renting to someone with cash but no credit history

[Walt Dockery]

I am showing my first rental property to rent.  I had a family come by that seems like they would be a good fit, they are interested, filled out an app and are ready to move in soon - only problem is they recently moved here from out of the country.    So they told me they have basically no credit history here.  They indicated they have assets however, and the husband indicated he could, say, pay 6 mos rent up front.  Would be a 12-month lease.  I have not run credit/backrgound yet but will shortly via mysmartmove, they told me about the lack of credit history up front.

Am I missing something, i.e. am I crazy to consider to rent to this tenant given their ability to pay several months up front?  I have had the opposite problem with many other applicants, i.e. people who claim high income on the application but can't front move-in costs of first month, last month, and security deposit.  I am big on the idea of financial independence and generally hold the belief that assets trump income and potentially lack of credit.

As part of the check process, should I ask to see bank statements or a proof of funds letter from a bank, in addition to the smartmove check?

[Buddy Holmes]

Do watch the movie "Pacific Heights"!!  However I have just completed a two year lease with a similar Tenant from Brussels.  What he did was to get his company that had transferred him to Orange Co., CA

to contact my Property Manager with backup.  They didn't pay 6 mo in advance but did pay every month 2 days early.  He, an engineer, also did many small repairs, just asking for materials to be covered.

Check his job.

Cheers,

Buddy