How To Get Good Tenants

[Jay Lee]

Good morning,

I have a question that I'm sure many of us have asked before. I have not had much interest on a rental property, and this being october, not the best month to have a vacancy. I have someone who applied to rent, going through a divorce, very upfront, says he has bad credit because of the divorce, needs a place to stay for his two kids and two dogs. Currently living in a hotel. He said he had previously applied to another home and put down a deposit, but now prefers mine and is willing to lose $500 deposit for the other rental home.  He does not make three times the gross rent in gross income.  

since he is not the ideal tenant, does not make gross income of more than three times the rent of the home, what kind of concessions would you ask for from a tenant like this. Things such as a cosigner with sufficient income, etc. I am open to ideas, wanted to ask for creative ideas you have used before and what has worked for you before. Thank you and have a good day!

[Eliott Elias]

I’ve learned that no matter what kind of stories tenants can come up with. Whether reasonable or not, it’s not worth the headache. It becomes yours.

You could take the risk, or, hold out for a tenant that looks good on paper.