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Updated over 7 years ago on . Most recent reply

User Stats

51
Posts
26
Votes
Zachary Corum
  • Investor
  • Factoryville, PA
26
Votes |
51
Posts

Uber Driver Applicants

Zachary Corum
  • Investor
  • Factoryville, PA
Posted

Does the rise of self employed workers driven by (no pun intended) companies like Uber, Lyft and other app driven service jobs pose more risk than a standard 1099 applicant? Sure some can make 55k a year but some months could be worse than others.  Apps can shut down quicker and with out notice.

Here are my current minimum requirements, fairly standard.

  1. Photo ID or Valid SSN
  2. Income of 3x rent amount
  3. Positive reference for past 5 years
  4. No evictions or unpaid judgments from previous landlords
  5. Minimum credit score of 600
  6. Background check for all applicants over 18
  7. Non-smoker
  8. No Pets
  9. Occupancy limited to 2 people per bedroom.

Here are some questions I have been thinking of as I advertise one of my apartments.

Is their 1099 sufficient enough?

Does a person with multiple 1099's from different service companies qualify higher than a person with one?

Do you require a co-signer?

Do you rank applicants differently when weighing multiple applicants with different types of income?

Your feed back would be great especially hearing from other landlords that have or are renting to tenants with this income background might help clarify for other Landlords in the future.

Most Popular Reply

User Stats

171
Posts
165
Votes
Walt Dockery
  • Investor
  • Winter Park, FL
165
Votes |
171
Posts
Walt Dockery
  • Investor
  • Winter Park, FL
Replied
Originally posted by @Thomas S.:

Uber is not a job 

Of course it's a job. You can have your opinions about whether it's a good job, but it's a job. 

If über goes belly up it'll be replaced by something else and it's drivers can drive for that entity or do something else entirely. Job security is mostly an illusion, betcha plenty of people at Lehman Bros thought they had job security up until the end. 

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