All Forum Posts by: Kerry Malarkey

All right BP community... any thoughts?  Have gotten a good reference from current landlord who bought the house with the tenants in it 4 years ago.  They kept up with the payments during the bankruptcy.  Verified through PACE that the bankruptcy was discharged (not dismissed).

I’d like your opinions on an applicant for a house I rent. The applicants had a restaurant that was vastly popular (per reviews and local news write-ups – yes I checked them. Also many youtube videos of their business), but could not make it work and had to file Chap 7 bankruptcy. They closed the doors in October 2016 and it was discharged with a Final Decree dated April 21st 2017. Per applicant they got into a bad lease (a news article also said this ) for a building that needed costly upgrades and maintenance, for which they were responsible, that sucked them dry. Since they closed the doors the husband has a new job and she has started with Starbucks in a management track program. Current income is sufficient at about 3x the rent. Both employment verifications were glowing… “go getters”,”long term prospects”, “very good hire” and so on. Prior to the restaurant they had long-term steady employment. Reason for moving… relocating to be closer to work and family. Want to stay at least 3 years for son to finish High School at one place. 10 year rental history… haven’t talked with landlord yet… have message in. They have been very up front and organized in their dealings with me.  In fact they brought up the Chapter 7 even realizing it may not yet show on any credit checks. They have retirement savings (public utility pension), but can't touch that.  They have savings to cover rent and security and other deposits (gave me their bank statements with last 6 month.  They have offered to prepay first 3 months rent.
 

So what do you think about renting to them? Is there anything on the Chapter 7 I should check on in particular?

Thanks!!