General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago,
Prospect Can't Pay Full Desposit
Hello,
I have a prospect (family) whom I have already approved, but I am requesting 2 months deposit instead of the standard 1 month due to their less than ideal credit. They initially agreed verbally, but now they are asking if they can pay half of it now, and the other half in 2 weeks when she gets her paycheck. I've spoken to their current landlord and they have always paid on time for the past 2 years and the recommendation was glowing. Their income is 6x my rent but have a large debt. Given the pros and cons, how would you handle this situation?
Thanks in advance,
David