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 6 years ago,
Group Home / Caretaker situation
Here's a situation I haven't seen addressed in Forums. I hope the wisdom of the Bigger Pockets community will have some experience, ideas and/or insights to share.
I have a few houses in the same neighborhood. Every time one comes available, I get a call from an individual who wants to rent the home on behalf of a group of individuals. I gather that she manages funds for adults who are in some form unable to manage their own affairs. However, details are sketchy, which is a big red flag.
Our standard policy for all our properties has been that all adults age 18 and over who will reside in the home must apply, be approved, and be a signer on the lease. We also expect all tenants to prove sufficient income. As soon as I tell her those things, she disappears.
As it stands now, I will continue to sing the same song, same verse every time the occasion arises. However, I'm wondering if I am missing an opportunity here, if anyone has knowledge of the potential pitfalls, or if there is anything that could be misconstrued into a legal issue. (Heck, anything can be misconstrued into a legal issue, but I'm curious what you think might pop up.) If anyone has had similar experience, I would love to hear from you.
Additional comments to help answer questions you may have: She has never said whether she intends to rent the home in the name of a company, nor has she offered any financial info on any potential guarantor. She just asks to see the home, and then when I get into my pre-qual questions, she has to disclose that she is not renting it for her own personal use. She's gone as far as using the "I'm renting it for my mom, and someone may live with her" line. However, when we state our expectations, it doesn't progress beyond the phone call.