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General Landlording & Rental Properties

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Shirley X.
  • Rental Property Investor
  • Burlington, MA
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34
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which application should I pick: a CEO or a section 8 family????

Shirley X.
  • Rental Property Investor
  • Burlington, MA
Posted Sep 21 2017, 23:21

Hi everyone! We need your help with a tough decision. We received two applications on our 3-bedroom apartment from tonight's showing, and my husband and I have different opinions regarding which to pick.

One is a 25-year-old CEO of a 2-year-old start-up. He will occupy the apartment mainly by himself and use it as a home-office. He offers to pay 6-month rent upfront to seal the deal. But he would not commit to staying at the place for longer than 1 year. So we would anticipate turnover when the one-year lease ends. He has a girlfriend attending graduate school in another state who may occasionally visit. He had one criminal record of serious speeding, and SmartMove recommended 'Low Accept'

Another is a family with section 8 voucher that consist of mom (around 55) and two kids (25, 30). Actually all of them have a job that pays OK. Their total income is about 2.8 times rent. With section 8 voucher,  their portion of the rent is even <$100 (according to one kid). They stayed about 5 years in each previous place according to their rental history, and they provided us the email from their current landlord that says many good thing about them. SmartMove recommend 'Low Accept' for two of them, and 'Accept' for the older kid. No criminal record.

Should we choose an the lump sum, or long-term (hopefully stable?) cash-flow? The CEO requested our decision in morning, and he can sign lease and make payment in the evening. Any thoughts would be appreciated!!!!

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