Taking a chance on tenant

[legalese]

Connecticut. We are renting a Condo and a lady that seems like she would be good for that property
tells me that her credit is good except for a problem with bank America (mortgage payments) She said that she has paid them, but there were problems so credit would show as delinquent, other than that her credit is good. ( i did not do credit check this is what she is telling me.) She is selling her house because she can't afford the $2000.00 a month she is paying( our rent is much less) She and her 10 year old grandson would be living there ( Not sure why the daughter is not taking care of the kid) She has worked for the state 8 years and owned her house for 6 years. would I be foolish taking her?

legalese

 

[Gail in Georgia]

Not necessarily. You would, however, be foolish to take her word for anything.

At the very least, run the credit check and confirm what she has indicated her income is.

You have set your requirements regarding FICO scores, amount of income versus rent, correct?

Gail

 

[Searchertwin]

Connecticut. We are renting a Condo and a lady that seems like she would be good for that property
tells me that her credit is good except for a problem with bank America (mortgage payments) She said that she has paid them, but there were problems so credit would show as delinquent, other than that her credit is good. ( i did not do credit check this is what she is telling me.) She is selling her house because she can't afford the $2000.00 a month she is paying( our rent is much less) She and her 10 year old grandson would be living there ( Not sure why the daughter is not taking care of the kid) She has worked for the state 8 years and owned her house for 6 years. would I be foolish taking her?

legalese

I would take into the consideration of her working with the state for 8 years. Plus the fact she is caring for the grandson. In this time and age, jobs are hard to come by, and working with the state, she be stupid to give it up. She is more likely try to stay in one place for the child. My main concern who will cut the lawn, minor repairs she causes, things like that.

Usually, I start with a six month contract and if all goes well, than a year.

As far as the credit on Bank of American, I know when kids miss just one day, bingo, it starts. Times has really change, so take that into consideration.

I would also do the credit check, plus where she lived 8 years ago and the court for other things.

Even the nicest person might be a stalker. I've encounter that and that application found the waster basket.
Take care

 

[sandyclaus]

Connecticut. We are renting a Condo and a lady that seems like she would be good for that property
tells me that her credit is good except for a problem with bank America (mortgage payments) She said that she has paid them, but there were problems so credit would show as delinquent, other than that her credit is good. ( i did not do credit check this is what she is telling me.) She is selling her house because she can't afford the $2000.00 a month she is paying( our rent is much less) She and her 10 year old grandson would be living there ( Not sure why the daughter is not taking care of the kid) She has worked for the state 8 years and owned her house for 6 years. would I be foolish taking her?

legalese

I wouldn't take ANYTHING as truth until you have verified it all. For all you know, this woman could be a serial killer who has come up with a terrific story that obviously has you flim-flammed.

Take everything she has told you with a grain of salt. Trust, BUT VERIFY. If she is telling you the truth, everything she said will be verifiable.

Bottom line, if you are taking her simply at her word, then you would definitely be a fool, especially if she is lying and you didn't bother to check her out.