Re: Tenants Paying in Cash - Landlord Forum thread 258555

Re: Tenants Paying in Cash by NY-LL on June 21, 2012 @11:22

Legitimate tenants with credit issues, judgments and repayment agreements pay in cash. The unsecured creditors and debt collectors often place liens on accounts even while paying as agreed. The complications of owing debtors, post divorce or otherwise, sometimes leads to debtors double dipping into accounts without authorization.

Chances are if the prospective tenant has stable (5+ years) employment, the likelihood of illegal activity is minimized.

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Re: Tenants Paying in Cash by The Dude (MN) on June 21, 2012 @11:27	[ Reply ]

Again, how do you know this all isn't going to catch up to him at some point while he's renting from you? If he's hiding income from creditors, child support, anywhere, the courts and the IRS have ways of catching up to him, even if he doesn't use a bank and pays cash for everything. Mainly garnishing his wages after a judgment has been passed against him. Again, some people may be comfortable renting to this tenant. I fortunately can find far more qualified and stable tenants. This probably isn't the case all over like it is in suburban Minneapolis.