All Forum Posts by: David Li

Thanks for sharing your experience, Nathan. In my case, the full deposit will be paid about 1 month before move-in. I don't think I will ever let anyone move in without paying all the deposit. If they do not pay the full deposit by the promised date, I will still have 3 weeks to find another tenant before the current lease is up. The prospect seems like a stable family - they have a child and one more on the way.  Clean record other than less than desirable credit. 

I won't give them the keys until the deposit is paid in full. There's still over a month before the lease starts and the prospect can pay half within 24 hours of signing the lease, and the other half 10 days later.  

Thank you Julie, that is very reassuring. We have added an addendum for the security deposit since it is a rare occurrence and the standard Texas leasing forms don't mention this. The applicant and her family actually works in the same company as I (though they do not know), so I do want to help them out as much as I can while protecting my assets - hence the double security deposit. 

That's a good point. Thanks Greg! My home is in an A/B class area. They haven't always made this much money before, especially during COVID. 

Thanks Kim! The move-in date is actually the beginning of July, so there's still over a month in-between. The current owner is actually a realtor in the area and her comments about the prospect appear to be genuine. The owner mentioned that if they still haven't found a place to live yet, she will do a month-to-month until they do so. They simply need a larger space to accommodate a growing family. No eviction and other than bad credit score, everything checks out fine. 

Hello, 

I have a prospect (family) whom I have already approved, but I am requesting 2 months deposit instead of the standard 1 month due to their less than ideal credit. They initially agreed verbally, but now they are asking if they can pay half of it now, and the other half in 2 weeks when she gets her paycheck. I've spoken to their current landlord and they have always paid on time for the past 2 years and the recommendation was glowing. Their income is 6x my rent but have a large debt. Given the pros and cons, how would you handle this situation?

Thanks in advance, 

David

Thank you everyone for your comments. I have decided to proceed with accepting this applicant and am not revealing that I also work in the same company. 

Jim, 

Thank you for your insights. You made very good points which I had not even thought of. At this time, the applicant does not know I work in the same company and I will definitely take yours words under advisement. Thank you and much appreciated!

I'm in Houston. Listed a single family yesterday since my current tenant will not renew their lease (end of June) and already received multiple applications. Many are also offering above my asking rent, paying up to 6 months rent in advance, or even submitting applications without viewing the property. I would think listings are gone within a couple days on average. A few days if you're a picky landlord.