General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago,
Possible tenants - moving family of 6
Hello, I have listed my house with the Realtor (3 beds/2 baths), and she just found me this possible family as my tenants, but I am not feeling they are a good choice, would love to hear your expert opinion! House is located in the Dallas TX area and the rent is $1500 a month.
2 adults - 36 years and 35 years old. They have 4 kids - 4,5, 9 and 16 years old. PLUS a lab puppy 6 months old 155 pounds. Currently they are paying $950 for the house in Oklahoma.
They do have 2 cars, car payment for one car is $512, the other is paid off.
They are moving from Oklahoma, the mother is still in Oklahoma with the kids, she is making $2480 a month, been at that job since Sep 2016. She does not have a job in the Dallas area yet, only some leads on possible jobs.
Father is already working in the Dallas area since November 2016 , making $2160 a month.
They have $10K in savings to keep them floating at the beginning till she gets the job.
Their realtor is their family member, so he is willing to cosign on the lease with them so they qualify and guarantee payments on time...
They want to buy a house in 12-24 months, so per my realtor they dont want mess up the house or dont pay as they want to have a perfect rental history to buy a house later, so I should see a bigger picture here...
I personally dont feel comfortable renting a house for $1500 when the only adult working once they move here is only making $2160 a month, plus they have $512 car payment. Gross income should be at east $4500 combined here... but I cant assume that she will find the job once she moves , and it will be paid at least the same or more...
Their credit history is OK, the father has medical debt.
i think they are really stretching out their budget for 6 people here...
Would love to her your opinion too, my realtor is trying to convince me to accept their application, and ask double deposit or 2 months upfront.
thank you!!