Front-loaded rent payments?

[Patrick Rose]

I have an applicant with bad credit, but high income (and under contract). He is willing to be flexible with a lease structure. I would appreciate any feedback on the idea of setting up an 18-month lease with the first 6 months @150% rent, next 6 months 100%, and final 6 months 50% rent.

I'm just looking for creative ways to protect my side of it. Have any of you done a lease similar to this? Is this legal?

Thanks for helping me through this...

[Patricia Steiner]

His bad credit tells you what you need to know about his (lack of) respect for adhering to agreements he makes. Even if you collect all the rent upfront, there's no guarantee that he will follow the other terms of your lease.  It's entertaining that he has high income - but doesn't pay his obligations. He's high risk...I'd hold out for a quality tenant.