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Updated almost 2 years ago,
Potential Tenant with Commission based job
I have recently purchased a 3 bedroom townhouse in the state of Nevada. I am now looking for tenants.
There is one person that lives in a smaller unit across from the one I'm renting that is interested in upgrading. This appears to be a good tenant, as I even had the chance to view her home and have heard only good things about her from the other neighbors (including the local gossip).
The thing is that because of her commission based sales job, she can only consistently pay $200 less than my asking price of $1100. After talking to her, it appear that she can put down a deposit that would be equal to my security deposit plus $2700 more (let's call it partial prepaid rent at about $225/mo during the 12 month lease).
We played around with the idea of her paying $900/mo and using the partial prepaid rent to make the difference. This would ensure that during her slow sales months, she can still meet her rent payment, and it could also be a large rent deposit in case things go south.
I know that I would have to also work out how to plan for a lease extension once the year lease is done.
Has anyone ever worked out a rental agreement similar to this? What are things I need to consider?
Thank you in advance everyone.