Can I accept the 1 year prepaid rent from tenants?

[Wilson Tao]

HI,

I am a new landlord and am listing my first house for rental. There is an applicant who is self employed and wanted to pay me 1 year rental in advance to resolve my concerns about his income. Can I accept the prepaid 1 year rent? is that legal? I am at bellevue, Washington state. Thanks in advance for you suggestions and insights.

Thanks

[James Wise]

Originally posted by @Wilson Tao:

Originally posted by @James Wise:

Originally posted by @Wilson Tao:

HI,

I am a new landlord and am listing my first house for rental. There is an applicant who is self employed and wanted to pay me 1 year rental in advance to resolve my concerns about his income. Can I accept the prepaid 1 year rent? is that legal? I am at bellevue, Washington state. Thanks in advance for you suggestions and insights.

Thanks

 Yes you can accept rent in advance. The fact that he wants to pay you all of this in advance due to his poor credit is the bigger issue here. How bad is his credit? Are you sure you want him as a tenant?

 Thanks James for you answer! His credit score is 618 and his wife is 803. He filed bankruptcy (chapter 7) at 2010 and has no criminal history and eviction. They will live with 2 children

 If that all checks out when you run his background he sounds like a good tenant to me. I would not be worried if I were you.