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Updated almost 11 years ago on . Most recent reply

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Kris Belco
  • Minneapolis, MN
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Help with decision, on whether these are the right tenants

Kris Belco
  • Minneapolis, MN
Posted

My rental has been out on the market for 2 weeks. Have got a lot of inquiries but only one showing. Two undergrads, in their senior year, graduating in May 2014. Both have job offers with very reputed consulting firms. Their combined monthly gross income will be almost 6x the monthly rent.

Here is the "but": both are international students, with very little credit report and tenant history. They have been in the US for 4 years, and have lived in the dorm for that time.

I have run SmartMove reports both. Clean, but very little information, as they haven't really built up credit. Clean criminal records. I have verified that they are current students in the college. Verified that their job offers and salaries are legit. And the best (or maybe the worst) part is that my gut instinct tells me they are good kids. Both are in their early 20s, and both seemed genuinely frustrated that a lot of landlords are very skeptical about them and denying them rentals. Which, as far as I know, is illegal. That is denying rental based on nationality.

My heart, and most of my brain, tells me that they will turn out fine. But there is a tiny part of the brain that still needs convincing.

What do people think?

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Andrew S.
  • Investor
  • Raleigh, NC
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Andrew S.
  • Investor
  • Raleigh, NC
Replied

@Kris Elco I think you have a very high chance that this will turn out well. You have to remember that in the vast majority of cases, only the top students of a foreign country ever get the opportunity to come the US for studies. These kids tend to be smart, highly motivated, and focused on their studies and jobs. In addition, getting a job offer in the US is in itself a major achievement for a foreign student, because it puts a significant burden on the employer to help with obtaining a work visa. Their employers would not have bothered unless they thought these kids are exceptional.

I deal with a lot of foreign students in my day job, and while I'm not claiming that there aren't ANY bad apples among them, on the whole, I think it would hard to find a better pool of potential tenants (assuming their stories check out as they seem in your case).

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