All Forum Posts by: Elias Marte

Thank you everyone! The guarantor makes a great amount and I will only do a 1 year lease with 2 security deposit. if they don't take it then on to the next one. I had the guarantor write a guarantor letter claiming they would be held responsible if anything. Which is notarized.

1 Vote

Originally posted by @Damon Bodine:

Thank you

@Damon Bodine:

Hey @Elias Marte

Some thoughts here.

#1 You could ask the applicants to provide additional security since they do not meet the income requirements.

#2 You should look very closely at the credit. I think a history of late payments (even if resolved) disqualifies most of my applicants. Make sure wherever you're running the credits provides specific details about credit accounts, education loans, defaults, housing court history etc. Under no circumstances accept a tenant provided credit report.

#3 You should ask them for specific landlord and employment references if you have not already. Typically what I will do is go to the employer and speak with them directly. A phone number reference doesn't do much. (I've had many applicants give me fake references, account statements, work history, landlord history etc)

#4 I understand the apartment has been vacant for a while and you guys feel under the gun to get it filled but do keep in mind a vacant apartment is still much better than one where the tenant is not paying rent..

#5 Make sure all guarantor agreements are notarized.

Hope this helps and happy to discuss more if you would like.

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Who would take them based on the Guarantor makes the income requirement?

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Thank you!

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@MichaelNoto

Thank you!!!

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Of course on their own I wouldn't consider. But I'm a bit rush since the apartment has been vacant for 4 months due to construction. I have been showing the apt for a month which equals to 5 months of vacancy. I really want to get it rented for her. Most of the previous people failed my credit check. This is the first person with a guarantor so I'm new to this. The guarantor is not in the tristate which I'm concerned. I don't know should I be? Nice doesn't pay the bills but I don't want a picky tenant that complains over every little thing. I had people come to the open house complained over a dirty floor but and asked for a dropped on the rent which I'm NOT doing I have priced the apartment great it's the cheapest and most reasonable on the syndications like street easy. It's two people for a 2br and they really like the apartment because it's a step up from where they're living.

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Hi! Everyone! I'm soo happy to have discovered this wonderful site! I'm a real estate agent and I'm helping managed or get good clients for my aunt. I'm somewhat an acting landlord on her behalf even though I ask her permission for everything. I found these nice tenants that are interested in the apartment. However they don't make a 40 times the rent the standardized income requirements in NYC. They really like the apartment and they passed my eyeball test. I checked their social media for anything negative or crazy. I'm a bit concern since they don't have the best jobs one works in restaurants and the other one is a actor. They have guarantors. The guarantors aren't tri state which I'm a bit concerned. Should I be concerned?

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All Forum Posts by: Elias Marte

Elias Marte has started 1 posts and replied 8 times.

Post: New investor from NYC

Post: Tenants don't make income requirements but have a Guarantor

Post: Tenants don't make income requirements but have a Guarantor

Post: Tenants don't make income requirements but have a Guarantor

Post: Tenants don't make income requirements but have a Guarantor

Post: Tenants don't make income requirements but have a Guarantor

Post: Tenants don't make income requirements but have a Guarantor

Post: Tenants don't make income requirements but have a Guarantor