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Updated almost 2 years ago on . Most recent reply

User Stats

499
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Jane S.
  • Flipper/Rehabber
  • Colorado Springs, CO
167
Votes |
499
Posts

They havent filed tax returns for 2021 or 2022

Jane S.
  • Flipper/Rehabber
  • Colorado Springs, CO
Posted

Showed house to a married couple who actually completed their rental applications quickly, mostly accurately, and have good rental history and working the same jobs for years. They are the first folks to ever accomplish these important actions, in my landlording experience.

The male half of the couple owns an installation biz. He's like a sole prop. but formed an LLC, about 7 years ago. Doesnt show it with the biz name.

The only proof I have of his high earnings ($6900/month in 2022) are four 1099-NEC compensation slips for the IRS which total about $82,000 for 2022. The application he filled out for me requires  2 years of tax returns but he didnt file in 2021 and 2022. He says "he's working on it" and has an accountant. I asked him 3 times WHEN the taxes would be done but no answer and he's a master of passive aggressive behavior. Smoke poured out my ears. He knows he's in trouble with the govt.

He has 3 bank accounts but only listed the low-balance joint account with his wife on his app. He admitted he had 2 accounts for his business when I asked why the balance in his joint account is <$500. He wrote them in to the space I provided under my request to provide info on ALL accounts.

Wife is a teacher earning about $2300/month. I guess she didnt file, either. However she is paying.

They have no credit card debt and either pay from their bank accounts or cash. I can just imagine the comment from RentPrep about their money habits.

I'm starting to feel like a deadbeat magnet, collecting all these financially inept (or lying) applicants who seem to think a deus ex machina (being from outer space) will reach out and fix their financial woes.

Signing a lease with someone self-employed who hasn't filed tax returns for 2 or more years is idiotic, right?

Can one collect SS benefits when one hasn't paid taxes?

Most Popular Reply

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28,065
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,072
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28,065
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied
Quote from @Jane S.:

Screening requires "verifiable" income so tax returns are a good option.

You have a standard, they can't meet that standard, so you should tell them they don't meet your standard and move on. It seems you are taking this way too personally and letting it affect you emotionally. 

  • Nathan Gesner
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The DIY Landlord Book
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