Would you take the tenants who are younger couple, both self employed, moving back to the area from out of state, good credit and income (self reported this far) who are offering to pay a year of rent up front (their parents are funding this) OR the older couple- one retired with guaranteed pension, who have offered $50 above per month in the rent? Younger couple has better credit, older couple has better income. We do month to month leases but do want long term leasers. Both report they want to stay for at least 2 years. Thx --70.158.xxx.xx

Go with your gut, I say. --71.184.xxx.xxx

Old folks. Self employed is bad. I think they are lying about that because they have no proof of employment So mom and dad want to warehouse them in your apt until they can get their feet on the ground. Probably lost jobs in other state due to covid shut down. I would take the old folks. I hope the pension is guaranteed. Can you check on that? Let the couple live with mom and dad. --71.104.xx.xxx

I bet they won't be able to provide tax forms or anything to proove their income. --70.160.xxx.xxx

Property is pretty competitive so this is the reason parents offered to pay up front. Parents came to walk thru and did FaceTime with kids who r still out of state. Parent stressed they really want them to move back so this may be part of it too. --68.62.xx.xxx

--96.46.xxx.xx

One may want to start September 1st...one may move in tomorrow? --47.155.xx.xxx

--73.102.xxx.xxx

I like the older couple. 60 is not elderly. ;) --50.82.xxx.xxx

The elderly couple does still have one person working so that’s helpful info to ask how long she plans to work! Thx --68.62.xx.xxx

--67.209.xxx.xx

Thx John!! Someone pointed that out earlier. I plan to consult w legal shield on this. :) --68.62.xx.xxx

Legal shield... Let us know how that turns out. From folks I've talked to in the past those guys have no expertise in things like LL/T law. All they can do is draft simple wills and notices and have zero clue about things like security deposits. In other words, they're worth about what you pay, which is not much. If they can answer your questions (correctly), that would be good to know since they are much cheaper than my attorney, whom I only email when I'm prepared to spend at least $50! --107.216.xxx.xxx

Their income is self-reported and I would not accept their word on it without solid proof. --98.146.xxx.xxx

We have operated our entire LL life without garnishment and have survived just fine. --50.82.xxx.xxx

The more i think about it i bet the kids are bums,anyone can claim to be self employed,big deal but it sounds good to unknowledgable,parents paying up front sounds more like they would rather pay to dump them on you than have them moving in with the parents.Sounds very fishy to me.What do they do that produces the same income elsewhere as it will moving back to hometown? --104.229.xxx.xxx

--68.62.xx.xxx

The younger couple has a real estate photography business. The female has been in this business sometime out of state and reports 5k+ Mo. income. The finance is leaving his job to join her in the business. She reports they have secured enough clients here to keep the business going. It’s essentially a start up but the parents giving the first year gives us time to reassess their financials about 6-8 mos in ... they also report they managed the apartment complex they lived in out of state so know how to care for properties. I plan to pursue the app process with both applicants to dig deeper. Savings accounts will be a big factor for me which is self report but on our app. I would feel very comfortable having the parents on the lease... if the have $16k they are willing to fork over I’m guessing they are garnishable. --68.62.xx.xxx

The younger couple has a real estate photography business. The female has been in this business sometime out of state and reports 5k+ Mo. income. The finance is leaving his job to join her in the business. She reports they have secured enough clients here to keep the business going. It’s essentially a start up but the parents giving the first year gives us time to reassess their financials about 6-8 mos in ... they also report they managed the apartment complex they lived in out of state so know how to care for properties. I plan to pursue the app process with both applicants to dig deeper. Savings accounts will be a big factor for me which is self report but on our app. I would feel very comfortable having the parents on the lease... if the have $16k they are willing to fork over I’m guessing they are garnishable. --68.62.xx.xxx

After reading all of your post in this thread, I would definitely NOT rent to the young couple. --73.120.xx.xxx

BRAD --73.102.xxx.xxx

We were approached by a Top Realtor to photograph a $4 million home. Get this, she wanted to pay $75 for us to drive an hour each way, spend half a day photographing this home, and provide her with digital files with all rights. (this is about a $1600 job with single use rights) Her commission was going to be $120K and she was too cheap to pay $1600 to have professional marketing photos. Heck she didn't want to pay $100 ! --137.119.xxx.xx

Bear in mind, there are 'moratoriums' in place on evictions in so many states - and can be extended on the whim of the governing bodies. Are you prepared to have a non paying tenant for as long as it takes? --71.184.xxx.xxx

Deanna,since I immigrated here some 60 years ago I was always self employed.I am now retired,Don’t want to do anything anymore,maybe a little cooking and watch cooking shows on TV to see what I did wrong................................ ........ charlie --32.214.xxx.xx

I’ve often taken a year’s rent and more upfront,it may be illeagle,but I still did it,remember the old saying “a bird in the hand ,is worth two in the bush” still applies,even today! ? ?............... charliee.............? ? ? well doesn’t it? --32.214.xxx.xx

I would choose the older couple and I believe they would probably be longer your term tenants. The younger couple might want to buy with the parents help in the year. --99.23.xxx.x

I would choose the older couple and I believe they would probably be longer term tenants. The younger couple might want to buy with the parents help in a year. --99.23.xxx.x

Ask for 2 months bank statements to verify money in and out. $5k a month income should be documented on bank statements. And it doesn't matter if their expenses are $8k a month they are still not managing their money. Older couple for my chose. --99.203.xx.xxx

I would go for the older couple. Starting a new business in a new place sounds too risky to me. We have had great luck with our older residents staying in our properties long term. --70.184.xxx.xx

Didn’t seem to matter what age people were they all seemed to stay about the same length of time................charlie --32.214.xxx.xx