Real Estate Agent · WA · Member since 2019 · 16 posts · 2 votes
Hi BP,
I'm in the process of renting out my second home. My PM called me today with an option for a tenant. They make well over the required amount of money, ex military, fair credit scores.
They have one glitch. They owed their previous landlord $1,300 for paint.
When my PM brought this up to them they immediately reached out to their prior landlord and paid them, then provided proof via a receipt that they had paid them in full.
I have the very experienced designated broker of the PM company saying that its an absolute dealbreaker and it automatically disqualifies them.
I am somewhat on the fence. Other than this incident they seem like great tenants.
My thought was to collect 1.5-2x time the normal security deposit to compensate for the risk.
Please share any opinions and insight. I'm very open to criticism and constructive feedback.
Rental Property Investor · Carlisle, PA · Member since 2013 · 1k+ posts · 543 votes
5y
@Jesse Wolf, call that landlord yourself and ask for the back story. It seems strange that they owed him or her 1300 and yet, when your PM told them about it, they immediately paid it. Either they didn't know about it, not sure how that is possible, or there is more to that story.
Real Estate Broker · Tulsa- OKC Oklahoma · Member since 2017 · 868 posts · 801 votes
5y
You hired the PM for a reason. Not sure why they are involving the owner on tenant selection. I know this will get me railed here in the forums. Either hire someone and let them do it or do it yourself. Don't under mind the Broker. The market is heavily in your favor. Another well qualified tenant will be found.