All Forum Posts by: Ayodeji Kuponiyi

@Loren Frey This could be a great opportunity or bad experience waiting to happen. No lease contracts or security deposits from current tenants aren't totally bad. If you can have the seller agree to a price that works for both of you, get the property inspected and whatever comes up as a negative should be discounted off the price. The tenants, if you chose to keep them, will have to be under a lease contract and give you a deposit. If they refuse then they should move on. 

If the property has too much issues just look for another great property. Best of luck to you!

I have a prospect tenant whose father is willing to cosign for her daughter and boyfriend. He agreed to pay $600 towards the rent while his daughter and boyfriend take care of of the balance. The rent is $950 plus $25/per pet per month. They have 2 pets which totals to $1K/month. Should I consider them or move on? I agreed to talk to her father tomorrow to discuss & I want to be prepared. 

Side note: the daughter is in school & is a waitress while the boyfriend is in construction and in school.

As a fellow New Yorker I left to Philly to do my MBA and now that I'm done, I'm investing in Philly. Great opportunities and I'm considering possibly investing in Brooklyn, Bronx, or Queens if the numbers and neighborhood are good. 

@Jay H. Recently I placed an ad on Craiglist where I'm asking $25/month/pet and people who called and came to viewed the unit didn't have an issue with that. Pet lovers are more than happy to pay for their loves especially when a lot of places don't cater to pets. Since I have carpet (and even if I didnt') I have to cater to repair/cleaning expense from smell/stains whenever that tenant moves on,.

@Lois S.  to quote Mark Twain, "Never argue with a fool, onlookers may not be able to tell the difference." As long as the tenant agreed to pay nothing else needs to be said. You can listen to whatever they have to say and move on.

@Michael Noto @Patrick Donovan thanks guys for the advice

@Marcia Maynardthanks you for your advice, I'll be using your rental criteria moving forward. 

thanks @Bill S. and all for your input. 

@Rob Beland @Roy N. Thanks for the feedback. 

Hi fellow BPers!

I'm renting a unit from my duplex and a young couple are very interested. Both are in school with one on a scholarship and are working however...the boyfriend works for his brother's construction business and doesn't have W2 to prove income since he gets paid cash. The girlfriend is a waitress and receives tips. She assures me her father would pay $600 leaving them to pay the remaining balance (I'm asking $950 for rent plus $25/per pet/per month) They have 2 pets so rent comes out to $1K/month. 

I asked if her father would co-sign and she said he wouldn't so I asked for her father to write a letter saying who is his and that he will pay $600 towards the rent for the duration of the lease and to have it notarized to which she assures is understandable and doable.

Should I consider them or keep looking?