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Updated about 1 year ago on . Most recent reply

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Mary Ainsworth
  • Lender
  • San Diego, CA
93
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230
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Tenant has no income but money upfront - too risky?

Mary Ainsworth
  • Lender
  • San Diego, CA
Posted

I know people say not to accept tenants if they have no active income, but this is a medium-term tenant who would stay 3 months and they can pay the entire 3 months upfront. In this case, is it a risk to let them stay? 

My only thought is that they could try to stay there and refuse to leave I suppose, but that's a risk even when someone has active income coming in. 

Also, if they have a guarantor, would that help? I'm not sure it would since they're paying all three months upfront, but I had that thought

Any advice would be great! Thank you :)

  • Mary Ainsworth
  • Most Popular Reply

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    Nicole Heasley Beitenman
    #5 Medium-Term Rentals Contributor
    • Investor
    • Youngstown, OH
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    Nicole Heasley Beitenman
    #5 Medium-Term Rentals Contributor
    • Investor
    • Youngstown, OH
    Replied
    This would be a huge factor for me. If they're a student, sure. If they're a professional with a solid work history who hit a bump in the road, is relocating, and needs some time in their new market to look for a new job, new housing, etc, that works for me. Basically, if their story makes sense and doesn't raise any red flags, I'd gladly consider them. 
  • Nicole Heasley Beitenman
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