How to Screen Tenants Moving in from OOS with no Job?

4 Replies

BP,

Have a rental in Tampa that I have been trying to rent out and have been getting quite a few inquiries from potential tenants moving into the area...WITH NO JOB.

This might be an easy answer but is it worth working with them to find a solution to this?  My main point is that I require the 3x Income and they have no job lined up.  Tenants say they will look for work when they get down here but I don't want to take the chance that they can't find anything or what they find is below my requirements.

Should I ask for bank statements or is that strange?  Should I require 3 months (M2M) up front? More?

  This is first property if you can't tell. 

Thanks!

@Tim Kaminski , there are people out there who will rent to them with no income, no verifications. Let them handle that population. In fact, my co-living building is like that. No questions, no security deposit, no credit check, no signed lease. U show up with first months rent, u get a room.

Yes it is a extremely easy question to answer. If you are running a business you must reject, if you are operating not for profit housing by all means invite them in.  

Leave the highest risk applicants to hobby landlords. They rarely screen and will believe anything a applicant tells them. They love giving people a chance. For them making a profit is generally of a lower importance therefor less risk.

The purpose of screening is to find reasons to reject applicants. You never ever "find a solution" to qualify unqualified applicants. Never compromise your standards for any applicant.

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