Potential tenant wants to pay 1 years rent up front!
I have a potential tenant that would like to pay the entire years rent up front. I have already screened tenant through an online service and was wondering why would tenant give me over 15k instead of paying monthly.
Any advice or issues to look out for?
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#1 Real Estate Success Stories Contributor
- Rental Property Investor
- San Diego, CA
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#1 Real Estate Success Stories Contributor
- Rental Property Investor
- San Diego, CA
Listen to you guys. If some of you actually RUN your own apartments with the type of advise you give Id be shocked.
"Well what happens if he's selling crack? How are you going to evict?"
Uh, you evict for a lease violation just as you would if he was paying monthly. Except with a big chunk of prepaid rent you have money for liquidated damages for make ready, court costs, and downtime till you find a new renter.
There is no "rule" about paying monthly. Some people pay weekly. Hell. Some daily. Some every other month. Some quarterly.
Take the year of rent. Don't listen to these people.