New Renter
I am the landlord of a 2 bedroom rental in a brownstone. Fully renovated exposed brick walls etc. I have a potential tenant that is a single mom very young 22yrs old. Have No credit history, get paid off book by hair salon. Willing to pay 6 months or full year rent upfront? Would you…
I am the landlord of a 2 bedroom rental in a brownstone. Fully renovated exposed brick walls etc. I have a potential tenant that is a single mom very young 22yrs old. Have No credit history, get paid off book by hair salon. Willing to pay 6 months or full year rent upfront? Would you guys do it? (previous tenant put me through hell).
no no no. rent to people with good credit and good landlord references. or if it’s someone with no credit, then they need a guarantor at minimum.
I have two thoughts on this:
1. Same question as Mopar–why does she have so much cash on hand?
2. If you decide to do it, rather than taking the year’s rent up front, take 3 months up front and 9 months deposit. This way, you’ll learn at the beginning of month 4 if she’s not going to pay the rent on time. Begin eviction process, and if you are lucky, she’ll be out before the deposit is spent.
I wouldn’t do it at all, but if you really want to give her the chance, I recommend #2.
Good luck~
It’s a scam.
And you have to ask, if she has so much money (working off the books at a hair salon, right) from a legitimate source, why isn’t she going out and buying her own apartment or house with her huge down payment?
In fact, you would be opening yourself to the possibility that she could move in a roommate and family members and set up a drug dealing operation and/or as suggested above, never pay any more rent, and wait for you to start the eviction process.
No.
No way…
Are you serious? Pick a charity and give them the house.
You are not allowed to consider her gender, age, family status or race. No credit and no documented income would be a problem for me; I’m assuming she doesn’t pay any taxes, or social security contributions, so what will make you different?
My coworker has had a similar tenant. Her experience was that she never saw any other rent and ended up in court to start an eviction process.