Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago,

User Stats

66
Posts
11
Votes
Peter Morrissey
Pro Member
  • Rental Property Investor
  • Syracuse, NY
11
Votes |
66
Posts

Parent Guarantee but tenant bad history

Peter Morrissey
Pro Member
  • Rental Property Investor
  • Syracuse, NY
Posted

I have been working with a couple who is moving up from NYC to Syracuse. They came up to visit the place a few days ago. Their mother has agreed to guarantee the rent and has already sent me a bank check with security deposit. She looks solid financially. The son has two misdemeanors for marijuana possession from 2011 and 2012. Since that is legal in some states now, maybe no big deal. He also has a collections record for an apartment in texas from 2012 for 1200.00, and an evictions flag in the smartmove report for a judgement of 135.00. 

Looking at the manual app they filled out and sent me a picture of via email, he did not answer the questions in the app regarding those issues. Lesson learned for me to be more thorough next time.

His mother is guaranteeing the rent, so should I be concerned about this? He is coming up here to go to school. He is 26.

My concern is that if there are problems, his mother is in texas and it would be difficult to go after her.

It isn't the best time of year to be renting in this area but not impossible by any means.

Should I run?

Should I ask for another month's rent?

Pete

  • Peter Morrissey
  • Loading replies...