All Forum Posts by: Russell John Walsh

I have had at least one rental since the 90's and always refused leases in favor of month to month because as it often stated 'leases don't help landlords". Always first month plus deposit equal to one month rent. I have never been burned on money or excessive destruction(knock on wood). 

Lately though some applicants are pretty concerned about being asked to leave after they barely get settled down. Some of them look better than average. Question: Would going to first and last months rent plus deposit equal to a month"s rent make up for downsides of a six month or year lease instead of month to month ? 

Thank you for laying out those possibilities , Carl.

Cassi, How do you verify self-employed  income? I thought tax returns were the way? Maybe the credit and background check covers it? I think I will ask for first and last month rent and security deposit equal to rent, all in a cashiers check if we get that far. Thank you. 

I may choose to vet a young couple , both  currently off their jobs due to being non-essential. They want me to take a co-signer.

It seems, I would fully screen  the two people, and the co-signer

Would I ask for tax returns to prove consistent employment? What other credit references besides standard credit and background checks? 

I would give the co-signer their own application as a co-signer only? Same standard credit and background checks? Additional credit references for the co-signer? Should I have the cosigner prove with tax returns and reserves if they are self-employed? 

* Also , since the couple can't stand alone qualify I am thinking to ask for the deposit to be twice rent, with move total financial consideration to  be $3100 plus first months rent $1550, all  in  a cashiers check at signing. 

I am not desperate to rent, so I am not willing to soften those terms which are legal in my state. Am I on track here? 

Thank you, 

Thank you all for the replies. I see the main thing is get the same criteria  to all investigating the subject property and to d it early on. 

My tenant and and pet screening criteria is 3 pages long. Two pages for tenants and one for pets. Right now my listing  says, " tenant and pet screening criteria available upon request". Maybe I should put "request and review tenant and pet screening criteria before asking for a tour" ? 

How much of your tenant screening criteria and lease terms do you put in your listing? What do you leave in and leave out and why?

Did the seller put in writing that the rent was $650?  Trying to inflate the income to induce you to buy is a problem too. 

I had a vacancy listed for the last two weeks. I got a lot of responses but I decided to take the house off the market to get a feel for how bad tenants can behave in the current environment.  One couple have continued to follow-up and probably want the place. I sent them my Tenant and pet screening criteria and they said they can pass it all. No application or credit checks yet.

The woman who has been interacting with me seems polite and patient. So, the issue I haven't broached yet is , are they still working? My guess is that they will have to say no they aren't working, or not full time,  or fib  about this,  because the spouse is a type of contractor that will probably face contraction. 

The add they responded to  was for rent with deposit equal rent. If they fib, I'll find out and it's over. No problem. But if they tell the truth that they have less income I might not want to run them off in this environment. One avenue I might take, if they are honest,  is to take 2x rent as a security deposit plus 1rst month rent. Which is the maximum  legal in California. I would also ask to verify past income and that they had reserves and/or maybe ask for a stable cosigner.

I am not desperate for a tenant at this time and was considering doing  upgrades with my free time( which I have a lot of now) and listing again for a  June move in, or later. 

Does anyone have comments on this possible situation? Thanks.

Another option is cheap porcelain tile. I Bargain hunted them up for around a buck a square foot for 18"x18" tiles. These things  are bomb proof. Best if you have a good slab floor to put them on, but I also did it over wood with  a tile backer board between.