Screening Applicant during divorce with only business income

5 Replies

So I have one applicant who has moved here to Oklahoma from California due to divorce - she reports on her application that she owned her house , and worked in the business she and her husband owned for 24 years . She stopped working there in September when she moved and reports she still owns half the business and the divorce is still ongoing . I sympathize after having been through that myself several years ago but I need some sort of proof of income . She said her accountant could furnish me something but I don’t really know what to ask for . Apparently her sole income is owning half the business . She did offer to show a bank deposit. I would love some advice . And no , I haven’t run her credit yet - just got the application and there really is no one to contact since no previous employer or landlord . I hate to have her pay for a background check if I’m just going to deny her for lack of income . Thanks in advance for any advice !

Pass, it is not worth your time trying to make a applicant work that is so complicated. There is not likely going to be a happy ending for you if you accept this applicant. You should not be accepting any tenant that is still in the process of a divorce. She does not have a job, she does not qualify.

Keep looking.

While I don't necessarily disagree with the previous posters, often for self-employed persons we look at their prior year tax return.  If she has half of a large 1040 income, she may well be suitably qualified.

To update , I asked for her last years taxes , and she showed a letter stating she had opened a bank account with over 100K in it . Her taxes showed she didn't make what she claimed when she was employed . And it got worse -- suddenly she was going to move in an unemployed daughter , an unemployed son in law , three kids , two giant dogs and a cat, and more "poor me" stories . And yet I gave her every opportunity to prove her case . When it came down to a meager $25 application fee , she couldn't seem to manage it , and she seemed to be avoiding background checks on any of them . I didn't deny her in the end , she just stopped contacting me ( which had been a multiple times a day event ). I'm pretty sure she intended at the very least to move her daughter and family in and then just never have any money .

I ended up renting to a nice young couple with two kids , they did everything I asked and were very prompt . I think I'll be a little less flexible due to sob stories next time . 

Thanks for the replies .