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Updated over 5 years ago on . Most recent reply

User Stats

18
Posts
11
Votes
Richard Updegrove
  • Rental Property Investor
  • Arvada, CO
11
Votes |
18
Posts

Possibly renting to friends of friends

Richard Updegrove
  • Rental Property Investor
  • Arvada, CO
Posted

I'm in the process of purchasing a new home and turning my current home into a rental.  It's my first rental property and I'm pretty stoked about getting into the rental game!  A friend of mine knows of someone that is moving into our area soon and looking for a rental.  I will be verifying that they have 3x income, a good credit score and verify their rental history with the last 2 - 3 landlords.  Since this is my first rental and tenant I don't want to start off on the wrong foot.  Does anyone see any issues arising from this situation?  I haven't started taking any applications yet so I might end up finding someone that is better qualified.  Thanks for any input!

Most Popular Reply

User Stats

824
Posts
795
Votes
Joe Funari
  • Real Estate Agent
  • Keller, TX
795
Votes |
824
Posts
Joe Funari
  • Real Estate Agent
  • Keller, TX
Replied

@Richard Updegrove Take it for what it's worth but the only time I had to evict a tenant was because I rented to a friend of a friend. Everything checked out as you had mentioned. But they took advantage of the friend of a friend connection and not only didn't pay rents but trashed the place as well. Learn from my mistakes and only rent to complete strangers that meet all your requirements.

  • Joe Funari

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