All Forum Posts by: Niles Crum

My criteria is $3,500 monthly gross income so she was close.  I also do credit and criminal back ground checks as well.  She has no criminal background and a credit score of 683 with a good track record of making payments.

I typically require at least two landlord references but will cave on this with the right prospect.  In this case she had lived elsewhere for the past 12 years so I could not do a landlord check.   She did come referred by someone I trust and I have met her several times.  Each time she beat me to our appointed time, and I am seldom if ever late.  We don't allow pets, smokers or more than 4 people in the house.  She complies with all of the requirements and will be the only one living there. 

I never considered there might be a state law against paying rent in advance so I will check on that.  I also will review your requirements for any additional ideas.

My question was more about whether or not others felt I may be giving too much away ($100 per month off of rent that is typically $1,100 per month).  I feel pretty secure that she will be a solid tenant.

I just rented a home to a tenant who did not quite meet my income requirements.  I expressed my concern to her and she said she had $20,000 in savings and could get me a letter from the state where she gets just under $3,000 per month in a pension.

I suggested to her that if she paid her rent a full year in advance I would lower the monthly rental fro $1,100 to $1,000 per month.  She attempted to get me to go down to $950 and take care of the lawn but I stood with my original offer.  

Do you think that is a good idea to give up that kind of income to get paid one year in advance?  No criminal record and a credit score of just under $700.  No prior landlord for a reference but came referred by a friend of mine.

Marcia, good post and suggestions - thanks!

Steve,

Great post and excellent suggestions.  Once I get confirmation from her employer on her income, which I expect to get today, I will contact her and tell her my concerns and ask to see her current lease agreement and about the place she is in now as "being unsafe".  If all goes well I will accept her application.  Thanks for taking time to provide this advice.

Stephen, thanks so much for your post. Very helpful.

I'm just torn.  Great reviews as far as paying on time from both landlords.  Good report from her employer (but I am still waiting for income verification ) as she has worked at the same job for 15 years and never a trip to HR.  But suing her landlord is a big concern to me.  That said, after talking to the landlord she seemed a bit difficult to say the least.

I will probably pass on her but want to do the right thing.  Thanks again!

Marcia, thanks for the input.  I did a drive by earlier today.  The house looked well cared for on the outside, yard work and landscaping well cared for.  

Nicole, I don't have any applicants.  I now am more concerned with a potential discrimination case if I don't rent to her unless I find a valid reason to turn her away since she will see that I am still running ads to rent it.  So I can't just tell her a have a more valid applicant.  

One more request.  I use Smart Move for credit and background checks per recommendation on a post I read in Bigger Pockets.  However, while her husband has an email address, her father does not.  I have the father's social security number.  Any recommendation on getting a credit and background check with a social security number only?

Update.  I just talked to her current landlord.  She was "distant" at best.  Interrupted me and asked me who I was ( I had already introduced myself ).  She then said, who are you with?  I said, I am not with anyone, I am a owner of a few properties that I rent but I don't represent anyone.  She said, Oh, you are like me then.  She would not confirm the rent amount, rather she countered with, "what did the tenant tell you?"  When I said $1,300 she said, "that is correct".  She renewed the lease once with her.  She said "it appears" they are taking good care of the property.  When I asked if she would rent to her again she said, "no".  When I asked why, she said "because I am selling the property".  I countered with "I understand that but if you had a property to rent, would you rent to her again"?  She said I won't answer that question.  I told her that her tenant informed me that the property she was renting from her was unsafe and if she would comment on that and she said, "no, I won't comment on that".  Only that "I have a realtor involved and we are getting the property ready to sell.  

If you recall from the original post, the tenant had a lease with an option to buy.  Hard for me to determine what is going on here but it sounds to me like the tenant might have some legitimate concern here with her landlord and the place.  Your thoughts?

Yes, I read that - I thought you meant you wrote an article posted someone on the Bigger Pockets website.  It does sound like she got scammed.  I would just like to hear the other side of the story.