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Tenant screening - should I consider this person?
I listed my property for rent, and there's someone interested who recently moved from another state. They claim to have owned four rental properties and a large house which they sold before coming here. However, they don't have a credit history and mentioned they use cash for transactions, offering to pay one year's rent upfront in cash. They also disclosed a past felony. Given these factors, should I consider renting to this person?
No, absolutely don’t rent to them. There are several big red flags here.
Quote from @Albert Hasson:
No, absolutely don’t rent to them. There are several big red flags here.
Thanks for the response. Since they are paying one year's rent upfront, what should I be concerned about?
No. Absolutely not.
According to Heather and Brandon Turner's book, the fact that they want to put so much money up front means they are trying to distract you from something else they don't want you to see, and hope that offering you enough money will accomplish that. This information is posted in their book on page 106. (I have no stake in this other than I just read this section in the book, and this is not some kind of marketing ploy by me.) If they disclosed their felony already, there's probably something much worse they want you to "ignore." And, according to their book, if you want to later evict them, having them prepay that much can make it difficult to do so.
*I hope I'm not breaking any copyright laws, Heather and Brandon, by paraphrasing your book: The Book on Managing Rental Properties. Please let me know if I am.*
Quote from @Katherine Chinelli:
No. Absolutely not.
According to Heather and Brandon Turner's book, the fact that they want to put so much money up front means they are trying to distract you from something else they don't want you to see, and hope that offering you enough money will accomplish that. This information is posted in their book on page 106. (I have no stake in this other than I just read this section in the book, and this is not some kind of marketing ploy by me.) If they disclosed their felony already, there's probably something much worse they want you to "ignore." And, according to their book, if you want to later evict them, having them prepay that much can make it difficult to do so.
*I hope I'm not breaking any copyright laws, Heather and Brandon, by paraphrasing your book: The Book on Managing Rental Properties. Please let me know if I am.*
Quote from @Raghu Reddy: thank you very much, I am rejecting them.
Quote from @Katherine Chinelli:
No. Absolutely not.
According to Heather and Brandon Turner's book, the fact that they want to put so much money up front means they are trying to distract you from something else they don't want you to see, and hope that offering you enough money will accomplish that. This information is posted in their book on page 106. (I have no stake in this other than I just read this section in the book, and this is not some kind of marketing ploy by me.) If they disclosed their felony already, there's probably something much worse they want you to "ignore." And, according to their book, if you want to later evict them, having them prepay that much can make it difficult to do so.
*I hope I'm not breaking any copyright laws, Heather and Brandon, by paraphrasing your book: The Book on Managing Rental Properties. Please let me know if I am.*
Quote from @Raghu Reddy:
Quote from @Albert Hasson:
No, absolutely don’t rent to them. There are several big red flags here.
Thanks for the response. Since they are paying one year's rent upfront, what should I be concerned about?
I would be concerned of their run-in with the law. A clean background is important. While people can change for the better, its imperative to run a thorough background check and a full credit report. Have them fill out an application form listing their previous place of employments, references, etc. Verify employment by calling. Call references they listed. Inquire with previous landlords that they have rented from if applicable.
A year's rent paid in cash sounds great and all! But not worth the headache if the tenants bring about non-monetary stress. Not all that glitters is gold.
Quote from @Mae Galang:thank you.
Quote from @Raghu Reddy:
Quote from @Albert Hasson:
No, absolutely don’t rent to them. There are several big red flags here.
Thanks for the response. Since they are paying one year's rent upfront, what should I be concerned about?
I would be concerned of their run-in with the law. A clean background is important. While people can change for the better, its imperative to run a thorough background check and a full credit report. Have them fill out an application form listing their previous place of employments, references, etc. Verify employment by calling. Call references they listed. Inquire with previous landlords that they have rented from if applicable.
A year's rent paid in cash sounds great and all! But not worth the headache if the tenants bring about non-monetary stress. Not all that glitters is gold.
Nope. No new arrivals. Job transfer? Two year min on job, and show proof.
This is a common tactic. People offer to pay cash up front or rent for a longer term in hopes of avoiding any scrutiny. It's a red flag and you should absolutely check them closely. However, they've already mentioned a felony, which indicates they probably aren't the most clever scammers. I would avoid them.
Do yourself a favor and watch "Pacific Heights" with Alex Keaton. It's a perfect example of how the most attractive applicant can be the worst choice.
Quote from @Nathan Gesner:thank you
This is a common tactic. People offer to pay cash up front or rent for a longer term in hopes of avoiding any scrutiny. It's a red flag and you should absolutely check them closely. However, they've already mentioned a felony, which indicates they probably aren't the most clever scammers. I would avoid them.
Do yourself a favor and watch "Pacific Heights" with Alex Keaton. It's a perfect example of how the most attractive applicant can be the worst choice.
Quote from @Raghu Reddy:
I listed my property for rent, and there's someone interested who recently moved from another state. They claim to have owned four rental properties and a large house which they sold before coming here. However, they don't have a credit history and mentioned they use cash for transactions, offering to pay one year's rent upfront in cash. They also disclosed a past felony. Given these factors, should I consider renting to this person?
If you have to ask, the answer is probably no.
Quote from @Raghu Reddy:
Quote from @Raghu Reddy: thank you very much, I am rejecting them.
Quote from @Katherine Chinelli:
No. Absolutely not.
According to Heather and Brandon Turner's book, the fact that they want to put so much money up front means they are trying to distract you from something else they don't want you to see, and hope that offering you enough money will accomplish that. This information is posted in their book on page 106. (I have no stake in this other than I just read this section in the book, and this is not some kind of marketing ploy by me.) If they disclosed their felony already, there's probably something much worse they want you to "ignore." And, according to their book, if you want to later evict them, having them prepay that much can make it difficult to do so.
*I hope I'm not breaking any copyright laws, Heather and Brandon, by paraphrasing your book: The Book on Managing Rental Properties. Please let me know if I am.*
I'm happy to help!