Investor · Cypress, TX · Member since 2013 · 118 posts · 15 votes
I have a prospective tenant that has provided me a paystub along with her application. Everything seems good on the paystub and when I call the number she provided the person I spoke to verified everything to be correct. Here is where it gets fishy and my gut is telling me it is B. S., the number provided is a cell phone number, the address in google maps shows to be a boarded up house and the address for the main office appears to be a personal residence in a neighborhood. Also, when I google the company name only one comes up, I called and they never heard of her or the person whose number she gave me. On the one hand it could be a small company without a website and google maps can have old photos on it, but it all seems off to me. On the other hand it seems a little "made up".
What are you all's thoughts on the matter? Is there a better way to go about this?
Yea I think a better way to go about it would be to find another tenant. The important thing is that you said "my gut is telling me it is B.S."; when is the last time that your gut was wrong?
You're kidding, right?
No, I'm not kidding. If you have a bad feeling about the tenant why would you rent to them? Well, I guess if YOU have a bad feeling and want to ignore it then that's your bad tenant. If I have a bad feeling about someone I'll pass, no kidding.
Yea I think a better way to go about it would be to find another tenant. The important thing is that you said "my gut is telling me it is B.S."; when is the last time that your gut was wrong?
You could ask for last year's tax return and bank statements to verify. Id pass on this tenant if those do not bring proof that her job is legit. Not worth the risk.
I'd call the bank on the paystub. I'd give the name given as the signatory and ask if it was a good account to clear a check with that name. If it's a small business out of a house, chances are that name would be on the account, a larger company a supervisor may not be the signatory on accounts. You could get a yes or no answer.
Tax returns will show what's up as well.
I'd ask her too if the address given was correct as your mailed verification was returned. If she stutters, say next.
Steve, It could be a payroll company, I've not encountered that very often, if ever with a small company, even so, there should be a company signatory on account. Just a "what I'd do" a quick call.
Since the money laundering laws have been adopted banks have really tightened up on security and information, I assume a clearance call can still be made, it's something I'd try to see if she was trying to scam me. It may take a little skill too especially if the account number isn't on the stub. As I said, I'm already inclined to say next, but I would see if an honest mistake was made. Tend to doubt a mistake but guess there is a chance. :)
Did you google the prospective tenant's name too? And the name of her reference person? Might find something interesting there. If you are in the same locale as your rental property and near the business location of her employer, perhaps drive-by and see if a legit business exists. Talk to them in person. One pay stub is never enough for me, ask for the most recent 3 months and also the tax return from the previous year. If you can't verify the information is correct, then you have good reason to deny her.
Yea I think a better way to go about it would be to find another tenant. The important thing is that you said "my gut is telling me it is B.S."; when is the last time that your gut was wrong?
Yea I think a better way to go about it would be to find another tenant. The important thing is that you said "my gut is telling me it is B.S."; when is the last time that your gut was wrong?
You're kidding, right?
No, I'm not kidding. If you have a bad feeling about the tenant why would you rent to them? Well, I guess if YOU have a bad feeling and want to ignore it then that's your bad tenant. If I have a bad feeling about someone I'll pass, no kidding.
Yea I think a better way to go about it would be to find another tenant. The important thing is that you said "my gut is telling me it is B.S."; when is the last time that your gut was wrong?
You're kidding, right?
No, I'm not kidding. If you have a bad feeling about the tenant why would you rent to them? Well, I guess if YOU have a bad feeling and want to ignore it then that's your bad tenant. If I have a bad feeling about someone I'll pass, no kidding.
I agree, the gut is usually not wrong. I googled the prospective tenant and got nothing to support the information she gave me. I have a lot of other interest in the house and have spent too much time on this already. Thanks for all the replies; its great to have the BP community to reach out to.
Pay stub? Get 2 months or bank statements to make sure the income is consistent. Make sure the job is stable and will continue, not seasonal or 1 of 10 jobs the applicant has had in the last yr.
Call the number again from a different phone and act as you want the services of the company or whatever to see if it's legit.
Did you give screening criteria that states unverifiable info will result in DQ? This and about 50 other things you need to do qualify the tenant.
Don't find ways to make them work, find all the reasons they don't work and DQ them. The good tenants will eventually show up with a filled out app correctly , all info and documents, rent history contacts etc and you won't find any negatives.
I usually prefer to go with common sense, or what I know and can analyze logically, not with what my "gut" says. That would imply an uneducated decision based off no supporting evidence other than what I can randomly hypothesize. Ridiculous. If you ever invest in the financial markets, please... For your sake, do not go with your gut.
@Brian L. is correct. If your gut tells you something is wrong with a tenant you follow it. If you were wrong and she really is a good tenant, who cares? You already found another good one. If you let her be your tenant and it turns out your gut was right now you got a big and potentially costly problem. This isn't the stock market. Go with the gut.
Yea I think a better way to go about it would be to find another tenant. The important thing is that you said "my gut is telling me it is B.S."; when is the last time that your gut was wrong?
You're kidding, right?
No, I'm not kidding. If you have a bad feeling about the tenant why would you rent to them? Well, I guess if YOU have a bad feeling and want to ignore it then that's your bad tenant. If I have a bad feeling about someone I'll pass, no kidding.
Yep you been in this business long enough you kind of develop a 6th sense. I actually hold my gut to higher standards. In fact I think after some of my recent experiences gut will over rule now how to make that quantifiable would be a whole other issue in case I get audited by housing or something.
I can't count how many times I had tenants 3x income, good credit >550, no convictions, no evictions but one life event it all goes to the crapper. The psychology of it all really needs to be studied. Question, "How stable mentally is this tenant, do I have to baby sit this one"
I stopped listening or already turned off the moment they start with the "stories".