Registered: 1470872227 Posts: 3
Reply with quote #1
I own a rental house on one coast and I live on the other coast. I manage it myself. I know, not ideal. I've been extremely lucky in that in the 9 years I've owned the house I've had only two tenants. One insisted on making improvements all the time without telling me or asking for reimbursement (when the rental agreement clearly stated I was more than willing to credit them for making such improvements if I approved of them beforehand) and the other gave me 4 months notice they were going to move out. When things broke, both would usually fixed them on their own (or schedule someone local) and keep me in the loop. I think I've been spoiled!
My second renter is moving out in a few weeks and I'm having a quandary trying to vet a prospective applicant (all by e-mail and using a tenant screening service, mind you). One of the benchmarks I use is the common one that tenants should not be paying rent that is more than 28% of their gross income. The rent I charge is 40% of this prospect's income. As far as the tenant screening service, they show an average FICO with very little money in accounts but also few bills. When I mentioned my concerns that they were trying to take on more house than they might be able to afford they replied that not only did they have family who helped provide for them, but they also were on some sort of state assistance that paid for nearly all of their housing costs. The person seems genuine and their previous landlords speak highly of them. I'm just having some heartburn over the fact that their ability to rent my house is apparently so dependent on other people/sources than their primary listed occupation. What are the thoughts of the experts here?
Registered: 1398662072 Posts: 209
Reply with quote #2
As far as I can see, they seem to be decent tenants.
__________________ Hunter Rentals & Property Management