All Forum Posts by: Brent Freeman

We have a current tenant of three years with good payment history. They are getting married and want to add their fiancé to the lease. We had them complete an application and the criminal background check revealed multiple convictions, including three DWI's, two possession of marijuana, two theft of under $500, and a few unauthorized vehicle operations. The latest charge was 2014. If this were a new tenant application, we'd pass, but since it's an add on to an existing tenant, and the current tenant has been good, we're considering. Recommendations? 

For those offering solutions of deferred rents and/or using deposit to reduce rents, could you share the documentation that you plan to use, especially if you've had it legally reviewed. Thank you.

Quickbooks is great b/c not only does it allow you to collect rent, but also:

- Provided by Intuit, a brand name that most tenants have heard of and therefore trust

- Integrates seamlessly with your overall accounting, so you keep clean books/tax records.

- Allows you set up recurring transactions so you and your tenants never forget. Also, gives you updates along the way (tenant received notice, tenant payed rent, deposit received at bank, etc.) 

- Nominal fees

I have an applicant that advised me she recently filed Chapter 7 bankruptcy. I didn't discover this via credit check.  He offered it up freely.  Normally, I would consider this an automatic reason to pass.  However, this applicant has also advised that he would like to pay the full year's lease in advance.  I'm thinking to myself, my main risk would be after the lease ends.  But is there anything else I should be considering?  All other screens look good.  Employed four years at current employer. Credit report actually looks great (not a single late pay). Heavy debt load.  Exceptional landlord references, including a ledger showing past history of prepaying rent in large lump sums.