Help me choose amongst 2 SFH tenants!

[Josh Smith]

Hi,

I have a SFH to rent out in California. It's above average condition in a good location. It's been on Zillow for a week. I have done 3 showings with a few more lined up. 2 parties have expressed interest and I want to request your help in choosing between the options:

• Party1: Willing to pay $4,000 p.m. Mid thirties couple earning very well (more than 8X rent) with a small pet. Excellent credit history. They own a house and relocating for work.

• Party2: Willing to pay $4,450. Couple in their sixties with 3 adult male children. No pets. Family immigrated to the US 1 month back. 3 children have found jobs at a nearly plant and the father will try to find a job. Combined income is 3X rent. All 5 members have no credit history as such but do have SSN’s. I asked them to pay 2 months deposit so I may get more surety, but they declined saying they cannot afford it. A local couple who’se combined income is 300K and who sponsored the family’s immigration to US is willing to be co-signers for the family of 5.

I am thinking that Party2 will put more miles on the house and may be harder to deal with in case of any complaints or eviction, though I am not an experienced landlord so I am not sure what are the factors to evaluate or what all can go wrong?

Any thoughts are very welcome!

Thanks.

[Rod Hanks]

Based on your description, Party 1 seems like the safer choice. They have strong financial stability, excellent credit, and are experienced homeowners. This likely means fewer issues with payments and property upkeep.

Party 2 offers higher rent but comes with more risk. Their income is only 3X rent, they lack credit history, and the household is much larger, which could result in more wear and tear. While the co-signers add some security, the family’s newness to the U.S. and uncertain job situation make them a higher risk overall.

For a smoother, less risky rental experience,Party 1 is the better choice.