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Updated over 1 year ago on . Most recent reply

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Mona Zemsky
  • Investor
  • Chicago IL
4
Votes |
4
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foreign diplomat as tenant, how to protect myself

Mona Zemsky
  • Investor
  • Chicago IL
Posted

Hello, I'm lucky enough that a foreign diplomat is interested in a 4-year lease on my house in Chicago.  It's the incoming Consul General for the country's Consulate General in Chicago and his family.

A foreign national has no SSN, no credit, and no assets in the US, so an app/credit check is pointless.  The consulate won't make itself a co-tenant but has provided a letter on its letterhead that they are paying.  

The consulate is working with a realtor and so am I.  I already require a security deposit so the tenant has some skin in the game.

Any ideas for how landlords in this situation protect themselves?  Thanks in advance for any advice!

Most Popular Reply

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Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
13,015
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Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
Replied
Quote from @Chris Seveney:

@Mona Zemsky

Consulate is not gonna stiff you on payments

Paying a debt would be a bigger concern if it was a US politician...

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