One Year Lease and Security Deposit Paid Up Front

[Thomas Smith]

I have an applicant that is not currently employed but has offered to pay the entire first year of the lease and the security deposit up front. 

On his rental application he stated that he currently lives with his parents and has for the last 2 years and is willing to pay for a background and credit check.

Of course I have my reservations about entertaining this idea, but I value the input of other members. Any thoughts on this would be appreciated! 

[Bob Daniels]

I've never understood why landlords hate payments made in advance so much.

If this guy has been living with his parents he has likely been able to save a good chunk of change due to having no living expenses.  If he is currently in between jobs then so what, he has 1 full year to figure it out since you already have his money.  While you can't spend it right away and would need to keep his funds separate, you also don't have to worry about will he pay on time every month.  If he doesn't have a job at month 11 you simply issue a notice of non-renewal and move on.

We spend so much time screening for 3x income, good credit etc to make sure that they are likely to pay us, and this guy wants to pay in advance and people are saying no?  Makes no sense.