Tenant Declared Bankruptcy

[Samir T.]

Hello everyone,

I got this from a potential renter: Before I purchase the credit and background check, I want to make sure that a bankruptcy two years ago won't disqualify me.

The renter meets the minimum credit score requirements and has income of more than 3 times the monthly rent amount. Everything else checks out. I’ll obviously call references and all that once I get the application.

What do you guys think?

[Nicole A.]

To add, one of your preliminary questions to her should be, "Do you currently have the funds to pay a security deposit and first month's rent?" Even if you get all the way to lease-signing day, never never never sign the lease *nor* give them the keys if they do not have the deposit and first months rent in full to give you. And that should be in cash or money order only. Don't accept personal checks because they can bounce.

Also, if they move in mid-month, it's a personal choice, but I suggest still requiring first full month of rent, and then the prorated amount can be the following month's due amount.