Perhaps, I'm misunderstanding but I would say the rates will not vary that much by the time you get the value up.

@Grace Kwon I think I understand what you are asking but if I am misunderstanding something please let me know...Your prequalification letter should outline the specifics of your qualifications.  

I make it clear that I don't want to hear about any "misunderstandings" later on because I personally went over everything with them and addressed any questions at the time.

Bankruptcy law is complex and easy to misunderstand. 

@McCall RusselI can bet big bucks @John Thedford didn’t misunderstand you.

I will assume that you mean finance out of the gate with an LLC instead of his own name which I would bet most banks would be unwilling to do with what seems to be @Jonathan Onny's first rental property.Let me know if I'm missing something, but I just didn't want someone to misunderstand and think that this was an open and shut answer.

@Seth Williamssorry i think im misunderstanding something. 

Nothing resolves issues faster than official notifications.In the event you are convinced in the end that there is no subletting taking place you simply withdraw the notice and apologise for the misunderstanding.

Even if they want to stay, I would give them written notice that you will not renew their lease and expect them out by the termination date so there's no misunderstanding.

Am I misunderstanding him?