All Forum Posts by: Bienes Raices

Don't forget to include the security deposit rules for the state where the rental is located, and any other language that state requires in the lease. (and also city/county, which may be applicable if the rental is in NYC).

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Originally posted by Steve Babiak:

My other wonder: You have college students moving in middle of their school year. Are they breaking any lease that they signed up for elsewhere, since most landlords want college students to lease for the entire school year? Maybe even getting booted out from someplace ...

They don't live together currently. The one who is renting wants to leave his place (shared with three other students) because one of the roommates moved his girlfriend into the apartment and let her sleep/live on the couch without the other roommates' permission (haven't called the landlord yet to do the reference check).

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Originally posted by Steve Babiak:

The real problem here is that these two have never shared a place together before. So I always expect one roommate to not work out and leave the remaining roommates - so I exclude the income of the highest candidate and see if there is enough to qualify with what remains. Since there are only two, with that approach you drop the biggest income and see if the other qualifies alone. Sounds like in this situation that won't happen.

In my area this is a slower season (although I have gotten two calls in the last week and don't have any vacancies or advertising going on even!). Is that also the case where you are, so that your alternatives are few?

...

Steve,
That is my main concern (one of them moving out early). And one of the two has no rental history at all. The FICO score were just the icing on the cake. I have a married couple in another house with scores just as bad but they have a track record of good rental references over the years.

I have been getting calls but all duds or no shows so far. I'm wondering if I should open it up to dog owners but I'm reluctant because some of the rooms have carpeting.

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Originally posted by Al Williamson:

Bienes,
As usual, I agree with Mr. Klaus. If you're internal sensors are going off - listen to them.

Regarding the picture - how about uploading a picture something the represents you. We just hate looking at the shadow dude and want to connect with the non-generic you.

OK, I will try to put something up (may not be for a couple of days).

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Originally posted by Brandon Turner:

And personally, I'd probably still rent to them, as long as they met the other requirements. I'd probably get a double security deposit though.

Thanks, but I doubt they'll be able to do that. They asked if the regular deposit could be paid in installments and I was firm that it could not, so they agreed to pay the entire amount at once.

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Originally posted by Jon Klaus:

Move on, Bienes.

How about uploading your picture?

Thanks for the advice Jon...as for the photo, I prefer to remain private, since this site could be viewed by tenants (hope everyone understands).

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Ugh. I just ran the credit of the person I thought was "solid" and it's in the mid 500s! I didn't realize people this young could mess up their credit so quickly.

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Thanks--yes they are students (I started a new thread about the specifics).

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They are both college students who also work.

Person A is 20 years old, has a FICO score in low 600s, no rental history, has been at retail job for six months.

Person B: I haven't run his application yet but he seems more solid than Person A (he has 2 years of rental history, more work history). 21 y.o.

Combined, they make $100 more than my minimum income requirement for this rental.

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When you have a parent cosigning for a college student, is the parent's name actually on the lease, or do they sign a separate agreement that they share financially responsibility with the student? thanks

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All Forum Posts by: Bienes Raices

Bienes Raices has started 437 posts and replied 2472 times.

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