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Updated almost 14 years ago on . Most recent reply

Account Closed
  • Wholesaler
  • Miami, FL
3
Votes |
346
Posts

Landlords WHO would you rent to?? help

Account Closed
  • Wholesaler
  • Miami, FL
Posted

Ok tenant one
780 credit score (no evictions) 1 credit card thats it (no car payment)
Problem- Income!!
He is going to school at a college for a PA program and is getting a REFUND check for $1400 over 8 months, It is when the loan pays the school directly and then the school gives him his refund and the check will say he can live on 1400 for 8 months which will cover school, apt, books, food etc.
He is a guy who may come up with his gf (doesn't know b/c she has two interviews a week after he wants to move, I told him I can't claim any income from her because it isn't definite
Seems responsible right? going to school high credit, but income is my concern.

Next tenant 2
Positives-Works at home depot for 4 years, wants to move in after june 10th (lets me know, she is good with her current landlord because she will wait to after she can move out right?) Also wasn't in a rush to sign papers and said she will let me know friday if she will apply. Also was upfront about when she gets paid, and said she may be late a day or 2 because she gets paid every other friday and may fall on a different friday
Cons-didn't want month to month lease because she said the landlord (me :)) can throw her out when she has a baby, I said usually the owner is more comfortable with month to month to get to know the tenant. Income also seemed a little low at 400 a week, and had a kid and another one on the way in a 2 bedroom..

Most Popular Reply

Account Closed
  • Full-Time Investor
  • Charlotte, NC
1,562
Votes |
2,280
Posts
Account Closed
  • Full-Time Investor
  • Charlotte, NC
Replied

"income" is not a requirement...."3 times the amount of rent in gross income per month" is a requirement..having vague requirements like "ok credit" and "income" will leave you wondering with every tenant..it's better to make your list of specifics now and stick to it...just my opinion

i personally don't care about credit as much...i figure most in my neighborhoods will have bad credit...i need to see they have the financial ability to pay..that's why i like to see three times the rent in gross income

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