All Forum Posts by: Marissa G.

Agreed! That's exactly what my concern is.

Hi Bjorn,

I appreciate the info! I did all of the above and we met them in person. I really liked them, but the tax returns are the only thing holding me back. Their bank accounts are more than enough. I'm just worried that if I decline due to net income and not gross income, that I'll be doing something wrong.

Hi all! First time landlord here. In short, I am in the process of screening a few prospective tenants. The first is self employed with variable income. Gross business income covers well over 3x rent, but the net take home (and personal tax returns gross) wouldn't cover monthly rent. The returns alone are not giving me a good gut feeling.

The second is a W-2 earner with steady income. I'd like to go with the second, though I told the first applicant that they were accepted, as long as I could verify their income.

I should also add that I met the first applicant in person and have talked to previous landlords. I really like them--this is the only thing holding me back!

1) I'm supposed to base my decision off gross income, correct? Is it different when the higher gross income is under their business name?

2) Is it allowable to decline them given my statement above and because someone else has higher, steadier income?

Any advice or guidance is much appreciated :)

 @Michael Coates Thanks! It is helpful. Do you charge an additional pet fee or pet deposit up front?

I agree! And what made me think about that point is that we once lived in an apartment that didn't allow pets, but it seemed as though each neighbor had a dog. I think I'll end up increasing the rent and security deposit. I'd rather not need to deal with someone sneaking in a pet down the road.

Thanks!

 Thank you! I agree completely. We are east of Sacramento, CA, and with many Bay Area tech companies allowing employees to work from home, we're seeing an influx of folks moving up here. Homes are selling for tens of thousands above asking, so I'm hoping the rental market follows.

Hello! My husband and I posted our first rental property (single-family home) yesterday and decided to NOT allow pets. I received a reply from someone asking if I'd consider. My immediate thought was no. We are being very diligent with our screening and background checks and are not wavering from our minimum requirements. However, part of me is wondering if we should reconsider this. I know we can add to the deposit (whether refundable or not) and charge a small pet rent. My only worry is that, if we don't allow pets, we'll lessen the renters pool.

Additionally, after doing some digging, I found that the prospect is in real estate. Silly, but I worry that by allowing pets on a case-by-case basis without adding that to the listing will be discrimination. 

I'm welcoming all thoughts :)

We bought our second home and are becoming first-time landlords during this pandemic. We've been paying two mortgages for a few months as we work through lease agreements and finalizing/updating our first home for rental. Wish us luck! Following this for notes.