What would you do?

[Armando Carrera]

Hi everyone,

Our rental unit is ready for a tenant move in. Its a 4 bedroom 2 bath nicely updated home. We've had a number of inquiries and a few visit the home. Our dilemma is who to rent it out to...

The most serious party is a very large family, 3 adult couples and 4 kids. Were very hesitant to rent it out to such a large party because we did such a great job updating the home and we feel that all that work may get damaged in a short period of time. They are willing to pay an additional $200 (from $2,300 to $2,500) if allowed to rent.

Do you guys think we should wait for another possible tenant or give this a shot?

In our budget, we have a contingency of 2 months' worth of mortgage and utilities accounted for.

We have another LTR thats been a breeze to manage for over 6 years buts its only 2 adults living in it they have really taken of the home for us...

Thank you!

[Armando Carrera]

Quote from @Account Closed:

Quote from @Armando Carrera:

Hi everyone,

Our rental unit is ready for a tenant move in. Its a 4 bedroom 2 bath nicely updated home. We've had a number of inquiries and a few visit the home. Our dilemma is who to rent it out to...

The most serious party is a very large family, 3 adult couples and 4 kids. Were very hesitant to rent it out to such a large party because we did such a great job updating the home and we feel that all that work may get damaged in a short period of time. They are willing to pay an additional $200 (from $2,300 to $2,500) if allowed to rent.

Do you guys think we should wait for another possible tenant or give this a shot?

In our budget, we have a contingency of 2 months' worth of mortgage and utilities accounted for.

We have another LTR thats been a breeze to manage for over 6 years buts its only 2 adults living in it they have really taken of the home for us...

Thank you!

Let's see, 6 adults, 4 kids, two bathrooms. Hmmm. Just curious why it takes the whole tribe to afford one rent payment.

I would make a site visit to where they live now and see how they treat the current property. You can drop by with a "document you need signed to further explore their application” and while on the porch, take a quick peek inside. It's best to do this around dinner time when life is the most chaotic.

If the kids are throwing salsa or spaghetti at each other (or better yet, the adults) then you have your answer. If it’s well run, kids are doing their homework and adults are helping with the homework, no problem.

 Bob, Thanks for the reply! You gave me a great idea! Its something I will dive deeper.