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Re: tenant has medical&student loan collection - Landlord Forum thread 354672

Re: tenant has medical&student loan collection by Anonymous on October 16, 2017 @21:50

                              
If you think about it, a lot of people have balances of $30-$40-$50 thousand on their credit cards. While the applicant seems a risk at first, there are some things a landlord can do to mitigate some risk.

First, check to seek if any prior landlords have been paid on time and no money was owed to the landlord.

Second, you can ask for a higher security deposit if your state allows it.

Third, go with a month to month rental agreement.

Forth, Have 1/2 the rent ($800) due by-weekly when the tenant is paid. You will come up with an additional one month payment for the risk of accepting applicant. ($20,800 instead of $19,200 in your case) (Or an extra $133 per month)
Many employers can also set up payment deductions from their employees check for rent. You'll have to check to see if it's possible.

So if the applicant has made all past rental payments on time and meets the minimum income level and passes a background check, it's possible to rent to her while minimizing your risk.
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Re: tenant has medical&student loan collection by Anonymous on October 17, 2017 @06:36 [ Reply ]
Or they can avoid the mess altogether and not rent to someone who, while bringing in a damn good salary, has allowed accounts to go into collections instead of working out payment terms and handling their responsibilities.

Shows something about the applicant. Denied.

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