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Updated almost 6 years ago, 12/23/2018
Prospective tenants in a rush to move: what to look out for?
I have a prospective tenant that is eager to move b/c he is living out of a hotel now (in the midst of a divorce; divorce hasn't finalized yet).
He hasn't started the application process yet but when I mentioned cost to move in + presenting 2 pay stubs and 2 bank statements, he didn't seem to wince (though, we were speaking over the phone).
His income, credit score, criminal history, eviction history still hasn't been verified/checked.
But I'm still new to this and I don't know if tenants in a rush to move can cause problems later... In your experience, can they?
Oh yes !!! Danger danger ! Unless it is a tragedy like a fire,hurricane,mud slide .....normal people do not move in a hurry .WATCH OUT ALWAYS CHECK THE TENANT
Verify, verify, seems something is going on.
@Alex S. @Robert Biggerstaff Oh, wow... Well, I'm glad I asked.
I hate to even meet him if he's probably going to be waste of time...
I should have mentioned that, over the phone, he asked how soon he can move in.... If I'd said "tomorrow", I'm fairly certain he'd have packed his bags and got the funds ready (or would the funds have been "ready"? Maybe only the bags would have been packed...).
*sigh* Thanks you, guys. I'll follow up with him by email... maybe...
@Account Closed Yes, there are indeed logical reasons why tenants may want to move in a hurry. I had a tenant that relocated here for work and was living in a hotel. $100 a day. He was most anxious and happy to pay my $1,325 a month rent. Wanted to move in the same day he saw the unit. Of course, there was paperwork and verification to do.
Make sure you do not skip any steps of your process, but also make it a priority to get through the process quickly. A couple things I would make sure is; they must pay rent and security deposit in cash for this first payment. Do not assume any other type of payment will clear your account and not end up being pulled back as fraudulent.
Also, if you require utilities in their name, verify that they have actually been transferred prior to giving the tenants the keys. This is in my lease. Even if they sign the lease, that doesn't mean they can just move in.
If they are actually going through a divorce, then go online to the clerk of courts and see what pops up under their name (which i do for all prospective tenants anyway).
So yes, it could be a "danger" or "red flag", or it could just be exactly what this person says. He's living in a hotel and really would like to get into a place quickly do to ongoing divorce proceedings. Trust....but verify...
#2 General Landlording & Rental Properties Contributor
After all is said and done if you decide to take a chance use a M2M lease. You do not want to get tied to a term lease with someone going through a divorce. Too many different senerios to imagine. You want to be able to get out quickly if it should turn out bad.
Oh yes !!! Danger danger ! Unless it is a tragedy like a fire,hurricane,mud slide .....normal people do not move in a hurry .WATCH OUT ALWAYS CHECK THE TENA
@Thomas S. Month-to-month lease! Thank you! Yes, I got the sense that the divorce wasn't finalized... anything can happen...
If he never turns in an application then you never have to review or approve it. There is a possibility after the divorce he couldn't afford the rent due to alimony etc. He may no longer make 3x the rent and you will be dealing with an eviction.
Thanks, @Jim Adrian!!! Yes - on the application, I'm expecting to see the mortgage from his old home on his list of current mthly payments since he'll likely still be on the line for that...
That's IF we get to the application...
I'm starting to get a little better picture of what his profile will look like...
@Victor N. Thank you!!!
Great stuff. Okay - if he checks out, I may offer slightly higher rent for MTM lease.
@Jihan Shareef
I was in a similar situation years back. I showed up to a PM’s office that I did work for on her properties, in need of a quick apartment after my marriage ended with not hint of marital issues that I knew of. I was in an apartment in 5 days. There are good people in bad situations..
#2 Contractors Contributor
- Severna Park, MD
Check to see if there is a recent court filing for evictiom
Originally posted by @Anthony Wick:
@Account Closed Yes, there are indeed logical reasons why tenants may want to move in a hurry. I had a tenant that relocated here for work and was living in a hotel. $100 a day. He was most anxious and happy to pay my $1,325 a month rent. Wanted to move in the same day he saw the unit. Of course, there was paperwork and verification to do.
Make sure you do not skip any steps of your process, but also make it a priority to get through the process quickly. A couple things I would make sure is; they must pay rent and security deposit in cash for this first payment. Do not assume any other type of payment will clear your account and not end up being pulled back as fraudulent.
Also, if you require utilities in their name, verify that they have actually been transferred prior to giving the tenants the keys. This is in my lease. Even if they sign the lease, that doesn't mean they can just move in.
If they are actually going through a divorce, then go online to the clerk of courts and see what pops up under their name (which i do for all prospective tenants anyway).
So yes, it could be a "danger" or "red flag", or it could just be exactly what this person says. He's living in a hotel and really would like to get into a place quickly do to ongoing divorce proceedings. Trust....but verify...
This scenario happened to me. I arrived in Florida after driving across the country (I had just sold my home on the West coast, had no job, and technically was homeless at that point). I wanted to move in as soon as I could. The landlord checked me out (credit and background check) and required I get an account with the local utility because they needed the account number for the lease. I moved in about a week later, but the delay was due mainly to the landlord getting the unit ready for occupancy. There had been a miscommunication between the maintenance and leasing staff about its readiness.
Thanks, @Account Closed!!! You're the third person to verify that this is a common scenario. I'll keep vetting him.
#2 Contractors Contributor
- Severna Park, MD
What is just as common is someone got evicted and is in a hotel and is looking for their next house to flop in . I have had both , divorce and need a place quick , and evicted and need a place quick
@Matthew Paul Got it!
I'm trying to find eviction records for his county online... Not an easy feat. Hopefully, I can get it before Monday.
I moved across country and needed to find an apartment before the moving truck got here in 6 - 7 days (I flew).
People have lives. Things change, marriages crumble etc.
As long as he passes screening it is a good thing he can move right in. Less vacancy for you.
One thing you will learn is not to try to judge others. People lead lives in their own way. I dont care as long as they pass screening and live by the rules of the lease.
Now, i have higher end rentals so maybe lower end is different. But i let the screening process do its job.
@Justin Murray Thanks!!!
Through this post, I’m learning the different ways that tenants can attempt to hide current evictions... or hide evictions without even trying!
This is great stuff.
Yes - he sounded sincere over the phone. His tone and delivery of the story didn’t raise any flags. Divorces happen. But his urgency still threw me off so I wanted to check with you guys first to learn about possible, unforeseen dangers before moving forward.
Waiting to hear back from him...