Potential tenant relocating from out of state - Landlord Forum thread 336793

Potential tenant relocating from out of state by Anonymous on June 30, 2015 @14:29

I have an applicant who is moving from LA to go to school in Atlanta. I usually require applicant's income to be at least 3 times the rent. She is quitting her job to relocate, but says she has good savings to cover her rent until she finds a job. How do you screen an applicant in this kind of scenario? Do you ask to see bank statements that show significant savings? If not, what are your requirements for such an applicant?

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Re: Potential tenant relocating from out of state by Anonymous on June 30, 2015 @17:09	[ Reply ]

Yes, I usually ask for a couple of bank statements to show they have consistently kept a significant amount of money in their account.

Re: Potential tenant relocating from out of state by Garry (Iowa) on June 30, 2015 @17:24	[ Reply ]

I agree with the anon, and would add that she needs to have a good credit score, also. And you should get as a deposit, whatever your state's maximum amount is that you can collect.If she has a large amount of money setting in a bank account, It can be gone the next day with the stroke of a pen. Better off having some of that money in your account, than hers.

Re: Potential tenant relocating from out of state by Anonymous on July 1, 2015 @00:39	[ Reply ]

IMO, I don't approve unemployed tenants. They have to make 3.5X gross income versus the rent. What if it takes her 6 months to find a job that doesn't pay 3.0X rent? Is she going to grad school or working on her PhD? What is her FICO score?

Re: Potential tenant relocating from out of state