Choice of the Least Worst
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Choice of the Least Worst (by GKARL [PA]) Jul 13, 2021 10:04 AM
       Choice of the Least Worst (by plenty [MO]) Jul 13, 2021 10:19 AM
       Choice of the Least Worst (by WMH [NC]) Jul 13, 2021 10:33 AM
       Choice of the Least Worst (by Nicole [PA]) Jul 13, 2021 10:41 AM
       Choice of the Least Worst (by Ken [NY]) Jul 13, 2021 12:00 PM
       Choice of the Least Worst (by S i d [MO]) Jul 13, 2021 12:13 PM
       Choice of the Least Worst (by mike [CA]) Jul 13, 2021 12:18 PM
       Choice of the Least Worst (by J [FL]) Jul 13, 2021 12:36 PM
       Choice of the Least Worst (by Annie [IN]) Jul 13, 2021 12:41 PM
       Choice of the Least Worst (by Sisco [MO]) Jul 13, 2021 12:54 PM
       Choice of the Least Worst (by GKARL [PA]) Jul 13, 2021 1:11 PM
       Choice of the Least Worst (by myob [GA]) Jul 13, 2021 4:41 PM
       Choice of the Least Worst (by Allym [NJ]) Jul 13, 2021 5:23 PM
       Choice of the Least Worst (by GKARL [PA]) Jul 13, 2021 10:21 PM
       Choice of the Least Worst (by MC [PA]) Jul 14, 2021 7:21 AM
       Choice of the Least Worst (by Tonia [RI]) Jul 14, 2021 8:37 AM
       Choice of the Least Worst (by GKARL [PA]) Jul 14, 2021 4:32 PM
       Choice of the Least Worst (by J [FL]) Jul 14, 2021 4:46 PM
       Choice of the Least Worst (by GKARL [PA]) Jul 14, 2021 6:59 PM
       Choice of the Least Worst (by Ray-N-Pa [PA]) Jul 14, 2021 8:06 PM
       Choice of the Least Worst (by GKARL [PA]) Jul 14, 2021 9:06 PM
       Choice of the Least Worst (by Robin [WI]) Jul 16, 2021 11:52 AM
       Choice of the Least Worst (by Pmh [TX]) Jul 16, 2021 5:05 PM

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Choice of the Least Worst (by GKARL [PA]) Posted on: Jul 13, 2021 10:04 AM
Message:

I have three possible candidates line up. Here they are:

1) A couple who just sold their home and is moving into the area. Wife is an RN and husband is currently a full time student. Wife makes 70K and can easily afford the rent. Has two male cats and says they plan on staying 6-12 months. The apartment is newly carpeted. My concern is the cats and even if they stay a year, I'm having to go through locating another tenant. They won't be long term tenants.

2) A couple who makes combined about 60,000. The husband is a tenant in my rooming house. He and the wife split and have now reconciled. Wife lives with parents in a house across the street from the rooming house. The husband has been a good tenant. They have three kids. He has about $ 60,000 in student debt currently in deferment. They would most likely be longer term tenants. His credit score is 636 and I'll still awaiting the wife's credit report. He said her score is in the 500's Had one LL/Tenant case brought on them but they settled up and remained with the same LL.

3) A unmarried couple. Male is 27, girlfriend is 18. Girlfriend is unemployed. He's a district manager for Dunkin Donuts and makes about $ 80.000. He split with his wife and needs a place so he can have joint custody of his son. Got laid off last year but was unable to claim unemployment due to a snafu with his SSN and wage reporting. (That could only occur if his employer switched payroll providers). Is currently living in a house owned by his ex's mother. His credit score is 581. The problem is late pays on certain credit cards. This entire situation is suspect IMO plus I don't like the fact that the girlfriend isn't working. I try to stay away from value judgements, but I suspect he was dealing with her before she turned 18.

This is the best of the lot. I'm inclined to go with # 2 since I have experience with the tenant. Generally, I've had to abandon the whole emphasis on credit scores and really look at the reasons the score is low. Job tenure and pay are primary considerations. The tenant pool is considerably worst than I anticipated. I have a much easier time locating rooming house tenants. There are simply far less games being played by those seeking rooms.

--209.122.xx.xxx




Choice of the Least Worst (by plenty [MO]) Posted on: Jul 13, 2021 10:19 AM
Message:

It's all a roll of the dice, #2 also. --172.56.xx.xx




Choice of the Least Worst (by WMH [NC]) Posted on: Jul 13, 2021 10:33 AM
Message:

#2 for me.

I won't rent to someone who already is planning their next move, so #1 is out because of that. As for the cats: if they are fixed, shouldn't be an issue. We have 2 males cats, down from 3, and no issues for us. You just have to get them fixed early.

No #3 for a host of reasons, including the child-girlfriend and all the financial SNAFUs. Drama City right there :( --50.82.xxx.xxx




Choice of the Least Worst (by Nicole [PA]) Posted on: Jul 13, 2021 10:41 AM
Message:

Agree with the others. Numbers 1 and 3 are definite no's.

#2 my questions would be how long were they separated? How old are they to have three kids and such low credit scores and not much income? Where did they live before their split and for how long?

My mind wonders on how things work - $60,000 in student debt for what probably isn't a well paying job if they collectively earn $60,000 --72.70.xxx.xxx




Choice of the Least Worst (by Ken [NY]) Posted on: Jul 13, 2021 12:00 PM
Message:

2 would be my pick,you already know him and he might just turn out to be long term.3 is just a break up and an eviction waiting to happen.1 is going to move as soon as they can. --72.231.xxx.xxx




Choice of the Least Worst (by S i d [MO]) Posted on: Jul 13, 2021 12:13 PM
Message:

None of the above would pass my criteria, so I would wait. 500 credit scores are that way for a reason, most likely due to non-payment on multiple accounts.

I practice what I preach. For my last vacancy, I rejected 7 applicants who actually paid the fee and did the full app process. Took me an extra week, but I found someone who had stable income, decent credit, positive references, and clean background. They checked all my boxes and I rest confidently that it was a good decision based on everything I knew. I didn't have to make any allowances or skirt any of my criteria.

Good tenants are out there, but you do have to be patient. Waiting an extra week or so is a reasonable trade-off to avoid an eviction that takes 4-6 weeks.

Btw, if you decide to take one...take #2 without a doubt. The other two have multiple red flags. --108.230.xxx.xx




Choice of the Least Worst (by mike [CA]) Posted on: Jul 13, 2021 12:18 PM
Message:

hard no on all. my lazy side says wait for someone solid on all fronts --75.80.xx.xx




Choice of the Least Worst (by J [FL]) Posted on: Jul 13, 2021 12:36 PM
Message:

GKARL I'm surprised you can't get better quality people than these for the apartment, in the summertime? These sound more like rooming house candidates.

--72.188.xxx.xxx




Choice of the Least Worst (by Annie [IN]) Posted on: Jul 13, 2021 12:41 PM
Message:

I think #2 choice would work.

I wish we could find someone at least like that!

We have a 2 BR apartment available - 6 weeks on the market. We have had at LEAST 400 inquiries (we use rently.com, and they report 225 of them, plus FB inquiries. We have had 6-8 applications, and none of those panned out (drugs in the past, shaky employment histories -- no rental history). We would accept someone with little or no rental history, if otherwise qualified), if they would have a qualified co-signer -- the proposed co-signers are a no go, too!

Pretty slim pickings these days.

--209.132.xxx.xxx




Choice of the Least Worst (by Sisco [MO]) Posted on: Jul 13, 2021 12:54 PM
Message:

RE Candidate #2:

You have had positive experience with Mr.2, but Mrs.2 is likely to bolt again, worse yet force Mr out leaving you to deal an unstable stranger who can't afford the rent.

You didn't tell how much the rent costs vs. individual income breakdown.

As you stated, the credit report is very useful, the FICO score- not so much. Charge offs, collections, late pays, currently past due are signals to steer clear.

Not enough real estate debt, or too new an accounts are detrimental to FICO and I don't think they indicate bad credit risk at all.

Overall, I would would choose a yet to be named applicant.

--149.76.xxx.xxx




Choice of the Least Worst (by GKARL [PA]) Posted on: Jul 13, 2021 1:11 PM
Message:

"GKARL I'm surprised you can't get better quality people than these for the apartment, in the summertime? These sound more like rooming house candidates."

The rooming house tenants are better. I approached my rooming house tenant about this unit after struggling to find acceptable applicants. In nearly every instance, my rooming house tenants are better. They are far less hassle and I don't have to climb through a pack of lies to vet them. I don't have to worry about pets. Turnover is quick and concern about damages is nil. They stay and there's very little turnover. I don't have to go to court to remove them plus it's more profitable. If I accept my roomer for the apartment, I'll have his room filled in a week. This will be the second roomer that I've placed into an apartment. The other one is a single mother who formerly resided in a shelter. She's been in her apartment for 3 years and roomed with me for a couple of years. Overall, the roomers are far more appreciative of housing because they know what it's like to be housing insecure, so for the most part, they don't have entitlement attitudes. I certainly didn't think that my roomers would be feeders for my units, but that's how it's working out. I have three new studios coming up later this year and I may fill them with the best of the roomers I have. --209.122.xx.xxx




Choice of the Least Worst (by myob [GA]) Posted on: Jul 13, 2021 4:41 PM
Message:

#1 cats-- we don't take cats-- but if we did I need a separate cat deposit for 1800.00 to cover carpet replacement. Fully refundable if no damages. Problem with cats-- urine soaks into pad. Rental is not 6 months or 10. You must sign a 12 month lease minimum. For me I don't like long term tenants anyway. But they must do at least 12 months or more.

#2. yes with double deposit due to debt-- deferred or not. I would be VERY clear with this #2--- it's not a rooming house situation. No pay no play.

#3 jail bait. no way

who has been on the job the longest of #1 and 2? --99.103.xxx.xxx




Choice of the Least Worst (by Allym [NJ]) Posted on: Jul 13, 2021 5:23 PM
Message:

Smart, good people don't move in the summer when it's hot. They go on vacation. --108.24.xx.xx




Choice of the Least Worst (by GKARL [PA]) Posted on: Jul 13, 2021 10:21 PM
Message:

Roomer has been on the job for five years and has a history of consistent employment. Also works a second job. No 1 is new to the area, and is employed by a major hospital in the area. She's also been consistently employed and has a good credit score. If it wasn't for the short-term stay, she would be a slam dunk. She admitted to the fact that they're going to be looking for a house but it would take some time for the market to settle down. They're definitely not a long-term prospect. The roomer would be in the unit for at least 3 years I'm thinking if not longer. --209.122.xx.xxx




Choice of the Least Worst (by MC [PA]) Posted on: Jul 14, 2021 7:21 AM
Message:

People move whenever. What is a vacation? --73.230.xxx.xx




Choice of the Least Worst (by Tonia [RI]) Posted on: Jul 14, 2021 8:37 AM
Message:

I would accept #1 even if shorter term. Most qualified and they may stay longer since the want market to "settle down" before buying. Charge higher fee for pet and deposit. Also by time they do move out, you may find a better tenant pool. --172.56.xx.xxx




Choice of the Least Worst (by GKARL [PA]) Posted on: Jul 14, 2021 4:32 PM
Message:

I went with # 1. They want to move in this week and they have all of the money. I offered the roomer a weekly rent aligned with his payroll. He had to pay one month's SD and the first week's rent, but wasn't going to have it until August 1st. No 1 has two months SD, pet fees and rent totaling nearly $ 4500 and isn't blinking an eye to pay it. I'm doing a year's lease with a 4 month ELT in case they jump early. They're sporting 700+ scores. The only issue is they may move after a year. Hopefully, I get a couple of years out of them. --209.122.xx.xxx




Choice of the Least Worst (by J [FL]) Posted on: Jul 14, 2021 4:46 PM
Message:

I think you made the right move...I was thinking the same thing after Tonia made her post.

The cat/carpet is a risk but not as risky as #2 and #3. --72.188.xxx.xxx




Choice of the Least Worst (by GKARL [PA]) Posted on: Jul 14, 2021 6:59 PM
Message:

Yes tonya's post made me rethink this thing also. I did offer number two first but the showstopper was the lack of money and the hesitancy about "what they might be getting into". I felt that August 1st would have come and gone without him having the money to move in. --172.58.xxx.xxx




Choice of the Least Worst (by Ray-N-Pa [PA]) Posted on: Jul 14, 2021 8:06 PM
Message:

Fisherman comes back from a day of fishing and has three fish in the boat. He says he was fishing for bass and he comes back with a sunfish, a carp and and catfish but not the fish he wants. Should he accept the three fish he has or should he ask himself why he has the three fish he has.

--72.23.xxx.xx




Choice of the Least Worst (by GKARL [PA]) Posted on: Jul 14, 2021 9:06 PM
Message:

Fish species are a function of the body of water you find yourself in. You don't catch tuna in the Atlantic and if you're not in the Pacific, you better catch and eat the best of what's available or you'll starve waiting for Tuna that doesn't exist. That doesn't preclude a change of waters further down the road, but one has to deal with the spot they're in --209.122.xx.xxx




Choice of the Least Worst (by Robin [WI]) Posted on: Jul 16, 2021 11:52 AM
Message:

Nice response, GKARL! --104.230.xxx.xx




Choice of the Least Worst (by Pmh [TX]) Posted on: Jul 16, 2021 5:05 PM
Message:

raise your rates to cull the dregs. --107.77.xxx.xx



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