lease payment schedule (by alicewonder [TX]) Jun 23, 2018 9:37 PM
lease payment schedule (by BRAD 20,000 [IN]) Jun 23, 2018 10:39 PM
lease payment schedule (by Oregon Woodsmoke [ID]) Jun 24, 2018 6:47 AM
lease payment schedule (by AllyM [NJ]) Jun 24, 2018 7:10 AM
lease payment schedule (by Nicole [PA]) Jun 24, 2018 8:01 AM
lease payment schedule (by beelocks [NH]) Jun 24, 2018 8:19 AM
lease payment schedule (by Steve [MA]) Jun 24, 2018 8:28 AM
lease payment schedule (by Deanna [TX]) Jun 24, 2018 1:23 PM
lease payment schedule (by alicewonder [TX]) Jun 25, 2018 6:13 AM
lease payment schedule (by Nicole [PA]) Jun 25, 2018 8:00 AM
lease payment schedule (by Nicole [PA]) Jun 25, 2018 8:02 AM
lease payment schedule (by Vee [OH]) Jun 25, 2018 6:31 PM
lease payment schedule (by alicewonder [TX]) Posted on: Jun 23, 2018 9:37 PM Message:
Hi, Everyone,
The next neighbor offers me this lease payment schedule. I am going to round up the number to show you
e.g. July to Sept, $500 each month, October $800 + $2000, then Nov to December $800 each. The sum of the rent is the same (if it pays evenly each month.)
Will you agree this type payment schedule in your lease? Is anything I need to be aware of this lease?
Thanks.
--136.62.xx.xx |
lease payment schedule (by BRAD 20,000 [IN]) Posted on: Jun 23, 2018 10:39 PM Message:
alice,
Why?
Based on what you provided NO WAY.
My business is not based on an applicant’s promise to pay sometime in the future. I would be behind for several months then they say “Oops I can’t pay. Goodbye.”
I spend my time looking for easy applicants with a history of stability and ability to pay now. This one is already too much drama and too much financial risk.
BRAD
--68.50.xxx.xxx |
lease payment schedule (by Oregon Woodsmoke [ID]) Posted on: Jun 24, 2018 6:47 AM Message:
I would plan on them living there for $500 a month until October, when they would either disappear, or else have lots of excuses why they could only pay $500 but the rest would be coming "later".
Never accept empty promises in lieu of cash. --174.216.x.xxx |
lease payment schedule (by AllyM [NJ]) Posted on: Jun 24, 2018 7:10 AM Message:
So maybe their expenses for AC in TX are so high during the summer that they can't afford to pay more than the smaller amount. But if you have warm winters or warm fall when they don't pay heat or AC, they can pay more. --73.178.xxx.xx |
lease payment schedule (by Nicole [PA]) Posted on: Jun 24, 2018 8:01 AM Message:
seems to me they are looking to receive some cash down the road. I'd want to know about that before making a decision. --72.70.xxx.xx |
lease payment schedule (by beelocks [NH]) Posted on: Jun 24, 2018 8:19 AM Message:
Looks fine to me if you start the lease in October...
Security Deposit upfront, October $800 + $2000, then Nov to December $800 each, July to Sept, $500 each month. October resets the clock at $2800.
Of course, no tenant is going to have SD + 3.5 months rent upfront; and if they did next October 5th would be when the eviction gets filed - good luck making that payment schedule stick in court. --98.229.xxx.xx |
lease payment schedule (by Steve [MA]) Posted on: Jun 24, 2018 8:28 AM Message:
Unless you have an extremely poor market, I can't believe that you are even considering this arrangement. IMO it's always better to get as much money as legally possible when you are still on the "honeymoon" stage with a new tenant.
This reminds me of when Wimpy from Popeye says;
For a hamburger today, I will gladly pay you next Tuesday. --72.93.xxx.xxx |
lease payment schedule (by Deanna [TX]) Posted on: Jun 24, 2018 1:23 PM Message:
No.
If someone can't afford to pay me $800 + $2000 every month, I'm not going to expect them to be able to pay me $800 + $2000 any month.
I set my payments so that they're regular and predictable.
I'd "worked with" a tenant who was expecting "a big insurance payment" when they lost half their hand in an oilfield accident (it happened in the gap between app-approval and lease signing, and I didn't have the courage to say, "Sorry, pal, but I can't rent to you anymore.") He chatted about some guy he knew in a similar accident who got about $100k settlement for workplace injury... but in the two years he rented from me, they kept him solidly in physical therapy.
Oo. And there were the tenants who swore up and down that their income tax return was earmarked for me, and they'd totally use it to get caught up. Guess who went and spent it on other stuff, because other stuff was more important than rent. :)
I'm sure everyone has at least one story about promises of an expected windfall that never materialized. :) And some of us have taken the class twice... :) But avoid anyone who's running creative math based on hypothetical income when they're still in the prospect stage. You want someone solid and reliable from day 1. --96.46.xxx.xx |
lease payment schedule (by alicewonder [TX]) Posted on: Jun 25, 2018 6:13 AM Message:
Good morning,
Thank you for your input.
You are right, they are waiting for the insurance settlement in July (I assumed a big one according to him), and he wants to be "financial prudent". Yes, it requires the one month security deposit at the lease signing. (a normal month.), they also want to buy the property starts next January....etc.
Here are the info. The lease requires:
1. Texas Renter application for each adult (three) in your family who will live in the house. The application is $50.00 per adult.
2. Your last three years Tax return.
3. Your bank statements in the last three months to show that you have six months reserve for your living expenses.
4. the copy of the drive license for each applicant
5. the approved of income.
6. three references of the applicants.
I let you know if they submit their info.
Thanks.
--136.62.xx.xx |
lease payment schedule (by Nicole [PA]) Posted on: Jun 25, 2018 8:00 AM Message:
you also need to see proof the insurance payment is definitely (not their definitely, in writing from the insurance company or lawyer definitely)coming ...
depending on what that info confirms, possibly have yourself listed as a payee ... if it's coming from a lawyer, that's absolutely possible ... from an insurance company directly, probably a bigger issue.
why don't they have the extra $300 July to September? If they blow through the insurance money right away, how will they make up that additional $300 they apparently need from insurance ... in other words, their monthly income shouldn't be changing, just a lump sum coming in. --72.70.xxx.xx |
lease payment schedule (by Nicole [PA]) Posted on: Jun 25, 2018 8:02 AM Message:
forgot ... they also would need to pay some sort of fee or premium out of their lump in order for me to work with them.
Also, DO NOT trust JG Wentworth/Peachtree/any of those type companies --72.70.xxx.xx |
lease payment schedule (by Vee [OH]) Posted on: Jun 25, 2018 6:31 PM Message:
Next batter, they will win in court the rent was 500, nobody would consider a adjustable rent payment, just keep shopping, a person with an idea like this will be a pain in the bottom side, how will they pay rent next year? or even in 6 month? --76.188.xxx.xx |
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