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Updated almost 4 years ago,
Should you always choose cashflow?
I'm in the process of turning over my property and have my top 3 applicants whom all meet the qualifications. My number 1 applicant is a couple with caged rats as pets. My number 2 is a couple with 2 large dogs (over 50 lbs). My 3rd are 3 college roommates with 2 large dogs where the parents are paying the rent. I met one set of parents and he had a legal pad of questions for me including crime rates, subletting contingencies, alarm systems, etc.
I chose the 1st couple as they know the area (it's transitional), will pay the pet fee though it's unlikely their pets will cause damage and generally were a laid back couple.
When I sent my sorry email to the college roommates, they came back with an offer of +150/mo in rent.
To be honest, I anticipate the relationship to be higher maintenance than with the 1st couple BUT it is a significant bump in rent.
Thoughts?