Elderly tenant application

[Brian Anderson]

I have a prospective tenant who is 80 years old with parkinsons. Her husband is around the same age with cancer. I have already run a credit check and everything is essentially perfect. They are a very nice couple, and I want to do everything I can to help. I’m looking for suggestions on how to safeguard myself in case their situations deteriorate quickly and I’m out one or both tenants, and ultimately rent money. Is there a way to legally require a larger security deposit?

[Colleen F.]

Where are they coming from, if a private residence you could increase deposit for lack of rental history. You cant for age. I would use a direct deposit to decrease your risk using a form from the bank. Your biggest problem could be that health issues make them forget to pay when they are totally able moneywise to do so. Get an emergency contact too.