Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 2 years ago on . Most recent reply

User Stats

26
Posts
13
Votes
Taylor Robertson
13
Votes |
26
Posts

Should I allow neighbor's daughter to rent my property?

Taylor Robertson
Posted

Just closed on my first deal last week-- a duplex househack. I was planning on starting to advertise for the vacancy this week and have it available within a few weeks. I was moving in over the weekend and the next door neighbor and his daughter (mid twenties) came over to introduce themselves to me. They said that she wants to rent the unit and asked me not to list it. He's older, retired, and lived there 15+ years, so I believe so he'd like to have her close by. She is a single mother with two daughters no pets. The only problem I can think of is that it is a higher end rental for my local market and I'm not sure if she'd qualify making 3x income to be able to afford rent. However, my agent told me he thinks her dad would be willing to help her on the rent if she can't afford it all herself. I know this contradicts basic landlording 101, but due to the fact that he's literally next door and wants her to move there as well, should I make an exception due to the circumstances if this is the case? This obviously would be contingent on her meeting my other minimum standards, passing a background/credit check, and getting good references. Any thoughts? Thanks

Most Popular Reply

User Stats

2,173
Posts
1,436
Votes
Albert Bui
Pro Member
  • Lender
  • Bellevue WA & Orange County, CA
1,436
Votes |
2,173
Posts
Albert Bui
Pro Member
  • Lender
  • Bellevue WA & Orange County, CA
Replied
Quote from @Taylor Robertson:

Just closed on my first deal last week-- a duplex househack. I was planning on starting to advertise for the vacancy this week and have it available within a few weeks. I was moving in over the weekend and the next door neighbor and his daughter (mid twenties) came over to introduce themselves to me. They said that she wants to rent the unit and asked me not to list it. He's older, retired, and lived there 15+ years, so I believe so he'd like to have her close by. She is a single mother with two daughters no pets. The only problem I can think of is that it is a higher end rental for my local market and I'm not sure if she'd qualify making 3x income to be able to afford rent. However, my agent told me he thinks her dad would be willing to help her on the rent if she can't afford it all herself. I know this contradicts basic landlording 101, but due to the fact that he's literally next door and wants her to move there as well, should I make an exception due to the circumstances if this is the case? This obviously would be contingent on her meeting my other minimum standards, passing a background/credit check, and getting good references. Any thoughts? Thanks


 Qualify her as any other tenant requirements and have her father co-sign on the contract to make it rock solid or require additional first and last months rent or additional security deposit if the law allows for it.

  • Albert Bui
  • Loading replies...