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Updated over 3 years ago on . Most recent reply

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14
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2
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Milan P.
  • NY
2
Votes |
14
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Mother-in-law as co-applicant for Lawyer tenant

Milan P.
  • NY
Posted

I have a couple that applied for my SFH. Rent is around $2200. Lady is recent Law graduate and will be starting a job locally with yearly income of 67K. They say that Husband is out of work due to Covid, but in background reports I see no employment history for him.

Together they don't make enough to be qualified. The lady have added the mother-in-law as co-applicant and claiming that she will be living with them. Mother-in-law owns her house in a different state (other side of country) & have 40K savings with 2k monthly income in Social security.  

Couples credit score is borderline with some missed payment history. They do have few DMV hits in the background checks, but nothing major. They wanted a good school district for their one kid and in rental application they quote there would not be any reason not to pay the rent. 

They saw the house online and had a relative physically see the house (and they were on facetime). 

I am not sure if I should be going with them. I want to make sure that I am not making any mistake as the girl is lawyer by profession. 


Thanks.

Most Popular Reply

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Bjorn Ahlblad
#5 Multi-Family and Apartment Investing Contributor
  • Investor
  • Shelton, WA
6,948
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6,603
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Bjorn Ahlblad
#5 Multi-Family and Apartment Investing Contributor
  • Investor
  • Shelton, WA
Replied

IMO Better empty that those tenants!! Someone who says 'there won't be a reason to not pay rent' or words to that effect is a big red flag.

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