Would you lend to a real estate agent?

5 Replies

I know all about fair housing and you can’t discriminate against anyone but that is not what is about.

I also know the answers may be biased since a lot of people in this forum have a real estate license.

I am a new investor. A guy came to look at my place today. Told me he was a real estate agent. He said he owns a home but having issues with wife so has been staying in a hotel. Wants to move in tomorrow(his exact words). This is a 3 bed 1.5 bath home and he says he would be the only one living there (why would one person live in a 3 bed townhouse??). He wants a 6 month lease. If he is an agent he likely knows the industry better than me (I’m assuming).

Any precautions I need to take? He drops off his application tomorrow and I see what credit/ background etc shows.

@Fidelis O. Evaluate him like you would any other tenant. See if he matches your minimum qualifications and take it from there. It shouldn’t make any difference whether he is an agent or not. Make sure you make him prove his income just like any other tenant also.

@Fidelis O.   Screen his application the same as you would any other.  He could have separated from his wife and moved out.  Temporary housing can be pretty bad if you're used to your own home and he may not have had time to find a nice place.   I wouldn't worry about a single person living in a 3 bed/1.5 bath place...it is the amount of rent that matters to him.  When I was a student, I rented 2 bedroom places even though it was just me as I liked extra space and I know people now who are single and rent 3 bed, 2 bath houses.  Make sure your lease has the necessary wording about 'guests' and no-subletting any part of the house.

I am an agent....but Ive had plenty of other agents both rent from me and rent from my clients. Havnt had any issues with them. 

@Fidelis O.

Who cares what his occupation, screen him like anyone else. If he fits, give him the place, if he doesn’t then move on