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Updated over 9 years ago on . Most recent reply

User Stats

44
Posts
5
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Rich C.
  • Rental Property Investor
  • SC
5
Votes |
44
Posts

Tenant Screening - State Tax Lien

Rich C.
  • Rental Property Investor
  • SC
Posted

I have students applying to live in an apartment and their parents pay.  One parent is paying the bills and has a good income from a business and investment dividends/annuities, but their credit shows a state tax lien with a low 600s credit. Prior landlord said they've always paid on time. 

Would you rent to a group where one of the cosigners has a state tax lien on their record?

Most Popular Reply

User Stats

44
Posts
5
Votes
Rich C.
  • Rental Property Investor
  • SC
5
Votes |
44
Posts
Rich C.
  • Rental Property Investor
  • SC
Replied

most of my tenants are 20-30 years old, mainly young professionals and students.  I generally don't ever receive late rent because I use the Venmo payment system for electronic rent payment, which virtually every young person already uses.  If they don't send payment by the first, I am on them and typically receive it within 3 days of the 1st.  What I like about students and rent payment is that they typically need to stay for the year...whereas I've had occasional issues with young professionals needing to leave early or on one occasion skipping town without paying rent.  The issue with young students is that they are immature and can't take care of simple maintenance issues themselves, such as tightening a screw.  And you are also dealing with a parent...who often is outraged at their child's high utility bill.  So you can generally assume the rent will come in but the property management will be more hands on.  Without question, my best tenants have been military/airforce/navy and I would take them over any candidate in a heartbeat.   

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