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Updated over 5 years ago on . Most recent reply
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Should I rent to these college students?
Hi everyone!
So I’ve prepared to rent our first purchase for October 1st. I’ve gotten a few applications, one of which were two college students. Had a pre-screening phone chat with them and they seem to have a good head on their shoulders. They were then screened through Cozy.co and have decent credit scores and lots of student loan debt, but nothing else very significant. They receive stepinds to assist with living expenses (this college doesn’t encourage students to work while enrolled) and have w-2s to support it. One of them works part-time as a bartender and is also providing a w-2 for that. With the stepinds and the part-time work they meet x3 the asking rent, but I’m worried bartending isn’t very consistent because it’s half cash based. Any suggestions? Should I consider them as tenants? Any advice really goes a long way!! Thanks!!
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- Real Estate Broker
- New Brunswick, NJ
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Students are a layup to rent to. Mommy and Daddy aren't going to let their precious angels get evicted 99% of the time. I don't even go as far as you did in renting to them, don't even ask for a co-signer.
- Peter Tverdov
- [email protected]
- 732-289-3823