Let Them In Before I See The Money? - Posted by JL

Posted by John Merchant,JD on May 30, 2002 at 20:14:10:

The law clearly says anybody can pull anybody else’s criminal, no permission necessary. And most credit agencies that do tenant screening offer that additional criminal record search for a few dollars more when requested.

Let Them In Before I See The Money? - Posted by JL

Posted by JL on May 28, 2002 at 08:43:21:

I have a family that is interested in my property, that must have a place to live by June 1. They have made me an offer but will not be able to close for a month or more. I have not accepted their offer yet, and there has been no appraisal, termite inspection, etc. just an offer at this point.

Can I let them move in, but protect myself some way? or should I just tell them to wait?

I wouldn’t… - Posted by Chicago Chris

Posted by Chicago Chris on May 28, 2002 at 17:40:49:

Don’t do it. I just spoke to a guy yesterday who after receiving an offer on his property, allowed the potential buyers to move tenants into his building. 2 months later the potential buyers are no where to be found and the tenant paid THEM both a security deposit and the 1st month’s rent. She now refuses to pay anyone.

What’s even better is that she has 3 kids and is complaining because the property needs work. He was selling it as a fixer-upper. Guess who has the liability if anyone gets hurt?

He’ll have to evict, I’m sure of it.

Once you give possession, JL, you have a SERIOUS problem. Even month-to-month.

So I agree with the other poster–if you do this anyway, make SURE you get enough to cover rent, damages and eviction costs. If they don’t have it, let them make other arrangements. You are truly better off letting them find a place for a month and dropping the price by the thousand bucks it will cost them to find other accomodations than you are letting them move in.

I’m assuming here not that they are BAD, but rather that they may be WRONG about their ability to close. Happens all of the time. And if they can’t close and they can’t get out, how easy will it be to sell to someone else, then?

I mean, why do they need a place by June 1? What went wrong that they are scrambling now?

Get your money first! - Posted by John Merchant,JD

Posted by John Merchant,JD on May 28, 2002 at 14:16:38:

Absolutely do not let them in until you get 1st, last and damage deposit-all done after you’ve checked their credit and criminal.

To let them in before getting in their money is to dive into the water without knowing how deep the bottom is…and that’s how people break their necks.

Mo to Mo Rental Agreement - Posted by PBoone

Posted by PBoone on May 28, 2002 at 09:21:40:

use a monthly rental agreement, making sure you get enough CASH!!! security deposit to cover any potential problems AND do a background check

Re: I wouldn’t… - Posted by JL

Posted by JL on May 28, 2002 at 22:09:40:

Thanks for the story. I’m convinced!
In answer to your question on why so quick, I gather they got rushed to close on the house they sold, and are up against the deadline they allowed to be imposed on THEM.

Thanks for the good advice to be cautious.

Re: Get your money first! - Posted by JL

Posted by JL on May 28, 2002 at 14:33:24:

Thanks for saving “my neck”! Credit reports are not too difficult, but how do you get criminal records?