Re: Count GI Bill Income? - Landlord Forum thread 328799

Re: Count GI Bill Income? by Anonymous on December 17, 2014 @16:45

Hello, I am the OP. Thank you for the replies. If I consider these people I would require a double SD up front, in addition to first months rent, which is allowed in my state, Texas.

But my original questions was "Can this income be considered normal, reliable, long term income that can be counted on?" In other words does the GI BILL income have and end date of any kind? Or do you get paid forever? Can it be counted on? Any exceptions?

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Re: Count GI Bill Income? by Garry (Iowa) on December 17, 2014 @20:23	[ Reply ]

Income, no matter what the amount is, or where it comes from, is only as reliable as the person receiving it. Meaning, if a T has had the same job for 20 years making good money, or they have a pension and/or SSI or other types of govt income; if they can't budget correctly, and have more outgo than income, something has to give. And that usually means the LL won't get his rent on time or maybe not at all. The govt is reliable, until it isn't. You are right to ask for extra money up front, as long as you can get it. As long as everything else checks out on their background, go ahead and rent to them. Just this week the govt extended 1 trillion $ of govt funded programs for 1 year, so you shouldn't have anything to worry about for at least a year.

Re: Count GI Bill Income? by Anonymous on December 18, 2014 @13:09	[ Reply ]

You cannot discriminate based on the source of an applicant's income, so watch out. Of course there is an end date for vets, but I don't know it.

Re: Count GI Bill Income? by Anonymous on December 18, 2014 @16:10	[ Reply ]

No, but a couple with bad credit (610) are not in a protected class. That is what I was trying to get to, an end date for vets. If I decide to pursue these people I may have to ask for his particular end date.