Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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 almost 8 years ago on . Most recent reply

User Stats

73
Posts
6
Votes
Sherwin Vargas
  • Investor
  • pawtucket, RI
6
Votes |
73
Posts

Tenant Possibly lied on rental application?

Sherwin Vargas
  • Investor
  • pawtucket, RI
Posted

Not sure what to do or if It even Matters. But here is the situation. I am renting out a single family home. I ran background checks and screened the tenants they seem like good people. Today I am preparing and organizing to get ready to shoot them over the lease to have it signed tonight and I notice something one of the paystubs for the company looks very weird. 

The company is her brother in laws business and she gets paid to do the books around $1200 biweekly. she has not proof of this income except for the very sketchy looking paystubs that she emailed me.

She makes another 2000 biweekly from a credible source and her husband makes 3k weekly from a credible source. Should I care that this one job seems very weird since they can easily cover rent ($1750). 

I know it will come up so I will just say it. They have not bought with this type of income because of bankruptcy back in 2008 (the crisis ) and they do not know how to manage their credit. Late payments on a few accounts typically less than a week and they open and close alot of credit cards as they use them. example open a walmart credit card for a big purchase. pay it off in a year then close it, opening a new one 1 or 2 years down the road.  

Most Popular Reply

User Stats

13,926
Posts
12,725
Votes
Replied

If you are determined to rent to them do not offer any lease other than a M2M. If they are trust worthy and reliable, which you should already know by contacting their previous landlord, then they should have no problem with a M2M lease.

Bad tenants will never agree to sign a M2M lease. 

Loading replies...