My first rental is about to become occupied from Dec 1st. By Nov 14th I signed a Security Deposit Notification (Standard form for FL) where I pointed that deposit in total should be $695 (full month rental) but $300 paid in advance to hold the premises up to move in date.
Now I got call from prospective tenant that this morning they have been robbed and would I accept $200 to let them move in? Agreed amount is a month rent plus what left to cover security deposit. I said they can’t move in until terms are met. The best I can do to let them move in January if property still will be vacant.
They called in an hour and said, “we can’t afford (!) not to move in” so they will pay in full. I am wondering now what should I expect from tenants like this? They are 25 and 28 yo females with 1yo girl with them and 2 little kids in custody. The mother of 3 is not working, older female is bartender in busy restaurant, she is responsible for bills. I run background check for her and it came back no criminal records or bankruptcy. By Nov 30 they should sign standard Lease Agreement prior moving in.
I can’t wait to hear from members of this board how would you experienced landlords estimate my situation? Any insight, please, I feel like a cow on ice field, ready to fall any moment…
[QUOTE=Lubasha;882652]My first rental is about to become occupied from Dec 1st. By Nov 14th I signed a Security Deposit Notification (Standard form for FL) where I pointed that deposit in total should be $695 (full month rental) but $300 paid in advance to hold the premises up to move in date.
Now I got call from prospective tenant that this morning they have been robbed and would I accept $200 to let them move in? Agreed amount is a month rent plus what left to cover security deposit. I said they can’t move in until terms are met. The best I can do to let them move in January if property still will be vacant.
They called in an hour and said, “we can’t afford (!) not to move in” so they will pay in full. I am wondering now what should I expect from tenants like this? They are 25 and 28 yo females with 1yo girl with them and 2 little kids in custody. The mother of 3 is not working, older female is bartender in busy restaurant, she is responsible for bills. I run background check for her and it came back no criminal records or bankruptcy. By Nov 30 they should sign standard Lease Agreement prior moving in.
I can’t wait to hear from members of this board how would you experienced landlords estimate my situation? Any insight, please, I feel like a cow on ice field, ready to fall any moment…[/QUOTE]
Your situation dosent sound real encouraging, but it sounds like you already agreed to rent to them. I have a difficult time going back on my word, and thats a really bad habit to get into, so I would say as long as you were comfortable with them before they tried to get you to accept less, then I wouldnt worry to much about it. One thing is for sure, you did the right thing by making them pay the full amount, and if they are one second late next month, start the eviction.
being a landlord of SFR in low income areas in SF bay area, I want to contribute something:
I do rigorous screening. having a deadbeat professional tenant into your house is costly. having a vacant house is way better than deadbeat tenant. these are the ones who would move in and not pay. they know the eviction system and use it to their maximum advantage. when they go, they trash the house.
ask for average or a little lower rent. you have larger applicant pool. check credit.
when someone come, offer you cash to hold the place. don’t accept. screen them first.
someone come saying, I need the place immediately, that’s a red flag.
likely he is being evicted.
ask for his current lease and rent receipts. verify authenticity of lease agreement. A long trail of full and timely rent payment is one of the good signs. similar rent from current lease to your lease is good. someone used to pay $700 will have trouble paying $1100
check employment status and history and paystub. a long job history (staying in 1 job for long time) is good sign. good worker makes good tenant.
check w2 and tax return if possible. consistent yearly income is good.
check rental history. long history living in current place is good. tenants moving every 6-9months are no good.
if possible, see where they live now. trashy place is bad sign.
if possible, go see inside their current apt. make up an execuse, say I need you to fill out the app form (indeed bring the form), can we meet up at your apt.
go to county courthouse computer, search their names for past eviction or legal troubles. if possible, do both civil lawsuits and criminal. look very hard for Unlawful Detainer cases under their name or their past landlords name. sometimes, they were cotenant. UD may be filed under their cotenant’s name. this has been my biggest, most effective tool.
use common sense, do they look like drug addicts, smell marijuna, drunk. are they argumentative, critical, etc.
landlording is no easy job. if you do good, even exhaustive screening, you can eliminate a lot of headache down the road.
Yes, I feel like I should be ready for troubles but accepted deposit before and really have no way to move back.
I offered them discount if they pay in time keeping house in good order and late fees from other end. Tomorrow will try to call numbers in her application as employer or present landlord and check the property they live at this moment.
Yes, they moved in and signed my year lease 9 pages agreement. They were short $70 on Dec 1st but paid the balance next day, which is today. So far all looks charming but let’s see what will be in January.