Adding roommates to long-term tenant household with high debt
I have a 4BR rental I am self-managing where the same two main tenants have been in place for about 4 years and have paid on time every month.
They’ve had roommates rotate in and out before, and the last two moved out sometime around 6–12 months ago. Now they want to bring in two new roommates, and all four would be signing a new lease together.
I had the two new people apply through a realtor/property manager I’ve used before. Her feedback was basically:
One has solid employment and an okay credit score, but some missed car payments showing, even though the car is now paid off. The other has new employment, low credit. Both have high debt.
She said she probably wouldn’t approve them if they were renting the house alone, but maybe would if there are other solid tenants already in the property.
My gut says to approve them because the existing tenants have been great for 4 years and have always paid even through prior roommate turnover. I’d also really like to avoid a turnover of a 4 BR home, which would be painful and expensive.
Would you be concerned here, or would you rely on the long-term tenants’ track record since everyone will be jointly signing the new lease?
Thank you!