All Forum Posts by: Bill Marcotte

Hey Brian. Just asked for a co-signer and the co-signer also made an application. Nothing inked. No previous landlords as was living with ailing relative and owned prior  

Steve. Prospective tenant was VERY up front about the issues and recognizes that it is a hurdle in terms of securing a place. Non smoker. All our units are 100% smoke free. 

Nathan. It was a serious medical issue (aka $$$$). And chapter 7 Is not something you can just “do again”. 10 year waiting period IIRC.  a custodian will be in charge of expenditures for a set period. Housing would be considered essential by any custodian. SSI and disability income is 5x rent. 

I guess I’m general I’m not looking for “I wouldn’t do it blah blah”. More looking for, “I went into a similar situation with my eyes open to the issues at hand, thought I had the bases covered and still got burned because of X.”

I’m inclined to help this person out because if it works out it’s good business. If it’s hard for them to find a new place, they stay put. I like long term tenants. Not established people with “options” who wake up and figure out that they should be paying off a note not their landlords note. Those types stay 2-3 years and bolt. 

I have an applicant that is JUST coming out of bankruptcy. Case is getting closed this week. Medical bills were the culprit and overall seems like a very decent tenant. Income is guaranteed under disability and social security which, to my understanding is, a safe bet. 

I’ve also requested a co-signer who will qualify and the tenant has complied with that. Curious if anyone has some advise about how to proceed.