Thoughts- Including child support in income-the child is in college

[Colleen F.]

I have an applicant whose income is largely from child support. The remainder is disability.  References seem good, long term renter in two places, saw letters of reference which were excellent but getting ready to do some calls.   The child has started college in town this year and is living with her.  He graduated from a very good local private school so would be a serious student and he likes the apartment and  the close location to school. However, kids can be flakey sometime and I  believe child support is linked to him staying in school.   Mom indicates she wants to stay a long time but she is on disability so once he is done with college she can't afford this apartment. For the normal tenant I would not look four years out but I am wondering what others think about this situation. I do plan to verify the support has been paid and  few other items.  She is the best candidate at the moment.  

[Marcia Maynard]

I would rent to them. If he is a good student and has set the goal to finish college, I bet he will complete his education. If and when the child support ends, they as a family will need to make a decision as to what to do. He could get a job. Her disability support benefits could increase. She could apply and receive other types of support benefits. If her disability income is SSDI, she could get a part time job to supplement it.  If she doesn't know how to do that, she could see a vocational rehabilitation counselor. They could inherit some money. Who knows? If they qualify now, there would be no reason to turn them down.

It may also be worth sitting down with them and discussing your concern and see what they envision for the future for maintaining the appropriate amount of income required to sustain the tenancy. 

We have had some tenants whose income dropped below that as required by our initial criteria to rent and they have managed fine, never missing a rent payment and able to pay for their utilities. That said, we have also had tenants whose circumstances changed and couldn't make rent; they then had to move.