new tenants & guest (by leon [CA]) Oct 15, 2021 2:18 PM|
new tenants & guest (by Jason [VA]) Oct 15, 2021 2:40 PM
new tenants & guest (by DJ [VA]) Oct 15, 2021 2:43 PM
new tenants & guest (by plenty [MO]) Oct 15, 2021 4:12 PM
new tenants & guest (by Vee [OH]) Oct 15, 2021 5:36 PM
new tenants & guest (by Sorta Blonde [CA]) Oct 15, 2021 6:11 PM
new tenants & guest (by Jim in O C [CA]) Oct 15, 2021 10:34 PM
new tenants & guest (by Moshe [CA]) Oct 15, 2021 11:16 PM
new tenants & guest (by leon [CA]) Oct 16, 2021 12:47 PM
new tenants & guest (by Vee [OH]) Oct 16, 2021 5:14 PM
new tenants & guest (by J [FL]) Oct 16, 2021 7:57 PM
new tenants & guest (by tonia [RI]) Oct 17, 2021 11:32 AM
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new tenants & guest (by leon [CA]) Posted on: Oct 15, 2021 2:18 PM
I have a pair of applicants that wants to move in November. Credit scores are bad and they barely have enough to cover rent based on their spending habits viewed by bank statements.
If I collect first and last month rent and a safety deposit of 1.8x monthly rent. Would a 3 month rental agreement help to minimize my risk.
My contract would state something like, this lease agreement will not automatically become a month to month and a new contact must be signed with the landlord to renew for a new term lease, otherwise this lease will be terminated at the end of 3 month.
These same applicants have also notified me that they would like to have a guest from Mexico stay for the month of November (30 days from day 1 of move in).
I mention that anyone who stays more than 7 days consecutively is an automatic tenant.
Would it be a bad idea to charge this guest $55 x30days for example and write a sub lease for only 30 days with the currents tenants approval and pocket the extra income?
I would ask tenants to purchase renters insurance and have this guest provide me with his passport, visa and return flight ticket.
Pro/cons? Is this a bad idea. Thanks any feedback would be great as this is new to me. --135.180.xx.xxx
new tenants & guest (by Jason [VA]) Posted on: Oct 15, 2021 2:40 PM
This is the stupidest thing Iíve read today. Why are you looking for reasons to APPROVE anyone? You should look for reasons to REJECT. Youíve already found plenty of reasons to reject. Move on to the next. --73.177.xxx.xx
new tenants & guest (by DJ [VA]) Posted on: Oct 15, 2021 2:43 PM
Yes, it is a BAD idea! ALL of it.
BAD for you, Good for them - because if they move in (IF they can scrape together the move-in funds) you will have them living there with any other person they feel like moving in for FREE. For a VERY LONG Time - while CA continues to deny you due process of law to evict them.
Leon, Please search this forum & website for information on how to screen for a good tenant.
Stick around here & learn as much as you can, as quickly as you can. There are a couple of knowledgeable CA landlords here, who should be along soon. --68.229.xxx.xxx
new tenants & guest (by plenty [MO]) Posted on: Oct 15, 2021 4:12 PM
Reads like you are trying to qualify someone that otherwise should be rejected. Keep showing the unit. Maybe even raise the advertised price. None of the ideas you present changes my mind. --172.56.xx.xx
new tenants & guest (by Vee [OH]) Posted on: Oct 15, 2021 5:36 PM
If you have charged an application fee you have earned it, but return any other monies to these folks, you definitely do not want to do any business with them, get your screening datat in order and reach out to get your local and state tenant rules - you can not randomly decide what to charge someone for having unauthorized occupants, that will be covered in your lease paperwork whether it is for 12 months or something more than 30 days. It sounds like you have recently decided to become a housing provider, it can be rewarding when you follow the rules, do what is best for the investment not a social acquaintance. --76.188.xxx.xxx
new tenants & guest (by Sorta Blonde [CA]) Posted on: Oct 15, 2021 6:11 PM
Find some other tenants! No matter what you charge up front, no matter what 'rules' and documents you make them sign, you will find yourself with tenants who won't pay, won't leave, and you will eventually end up going to court for an eviction costing you big bucks in the long run. run now and avoid all that. --174.65.xxx.xx
new tenants & guest (by Jim in O C [CA]) Posted on: Oct 15, 2021 10:34 PM
Bone up on eviction laws because you
Will need the knowledge. --99.23.xxx.x
new tenants & guest (by Moshe [CA]) Posted on: Oct 15, 2021 11:16 PM
Jim is absolutely right: " Bone up on eviction laws "
You want to " charge this guest $55 x30days for example and write a sub lease "
That would make him a tenant, and then he (that is YOU!) are subject to the laws about no-fault eviction. You may have trouble to get rid of him or have to pay relocation fees.
Better is to identify him as a GUEST and write in for him to stay his month and no longer, and make his vacation a matter of eviction.
I'd suggest seeing a competent landlord attorney about writing up the agreement.
new tenants & guest (by leon [CA]) Posted on: Oct 16, 2021 12:47 PM
Thank you for you input. This is all new to me and i am finding it hard to find actual tenants.
i have only posted to zillow.
my place is close to the freeways and its central in the city. the place is 2b1b 750sqft with washer/dryer central ac/heat. the park is around the corner and the neighborhood is quite.
i have no garage but there are plenty of street parking. the house also has solar that produces about 200kwh per month. fresh paint and kitchen is updated.
anyone have any ideas how how to better advertise to bring in better clients? or make the place more desirable. some one told me to eat the cost and go with a firm to bring in tenants. anyone have any exp or advice on this?
also how long if off the market is a bad thing? if i rent out i can coverage mortgage cost completely.
thanks for the great input so far. --135.180.xx.xxx
new tenants & guest (by Vee [OH]) Posted on: Oct 16, 2021 5:14 PM
The first thing about raising the advertised rent is you get a better reader to pay attention, go up 350 and see what happens, lowering slightly is much easier than raising 10bux. --76.188.xxx.xxx
new tenants & guest (by J [FL]) Posted on: Oct 16, 2021 7:57 PM
These people sound like the same group of applicants I had years ago. There were two males (not sure what the relationship was), and they told me one of their wives would be coming from Mexico in a couple months to move into the unit with them and I wouldn't be able to meet her beforehand.
Then it was revealed that one of the males didn't have a social security #.
Luckily this group disappeared and I didn't have to deal with them. --72.188.xxx.xxx
new tenants & guest (by tonia [RI]) Posted on: Oct 17, 2021 11:32 AM
I understand when the pickings are few, and to keep our units occupied and running (yes, sometimes better to have open).We have to be selective as we can in filling vacancy. The space you have sounds nice, I love the fact of solar energy for savings. I would not consider these applications. --100.10.xx.xxx
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