Rental question

[nisryus]

So at the beginning of the month, my tenant is breaking the lease and will be leaving the end of September , due to family issue. Of course, I was too nice and only stated in the lease term that if he or I cannot find a replacble tenant before the end of next month, he has to pay a penalty equal to a month of lease. (many others were charging two to three months, or until the house has been leased out again! )

I put the house on the market and after a few days, a lady called and expressed her interest. She is looking for a place to move in at the end of September, and is offering to pay a years worth of lease in advanage, plue security deposit.

I thought the downside would be if something shady happens, I will just have to evict her and pay back the part of the lease.

Sounds too good ot be true? She will be touring the house this weekend and I basically told her if she is interested, she can fill out the application via Zillow. So no, I have not asked what she does or check her background and credit, since she has not applied yet.

 

[lxskllr]

What's the question? I guess you're concerned about prepaying a year? Some people find that convenient. You only have to think about stuff once a year instead of every month. Make whatever checks you make, roll the dice, and think happy thoughts. Same as every other tenant.

 

[BoomerD]

Where is this located? Is marijuana legal there? House or apartment?

When we lived in CA before pot was legalized, lots of people would rent a house, pay the entire year on the lease...then turn the house into a pot grow house.

 

[biostud]

Since it is your house, you can set the rules. Monthly, quarterly or yearly rent. Just make sure you have it all in writing.

 

[BoomerD]

Since it is your house, you can set the rules. Monthly, quarterly or yearly rent. Just make sure you have it all in writing.

Depends...most US states won't allow a landlord to require any more than monthly rent along with a damage deposit and security deposit.

 

[highland145]

Meh, background check. Experion has a landlord/tenant service and you can make the tenant pay for it.

Your last tenant...as long as they paid on time and didn't destroy your place, not worth it to be a wakner about the $. Here, I can re rent in 24hrs.

 

[highland145]

Meh, background check. Experion has a landlord/tenant service and you can make the tenant pay for it

Your last tenant...as long as they paid on time and didn't destroy your place, not worth it to be a wakner about the $. Here, I can re rent in 24hrs.

 

[sdifox]

Highland has been away so long he is double posting.

As to op look into rental property insurance.

 

[highland145]

Highland has been away so long he is double posting.

As to op look into rental property insurance.

Filling that void in your heart as fast as I can.

 

[BoomerD]

Meh, background check. Experion has a landlord/tenant service and you can make the tenant pay for it.

Your last tenant...as long as they paid on time and didn't destroy your place, not worth it to be a wakner about the $. Here, I can re rent in 24hrs.

Slums-R-Us?

 

[highland145]

Slums-R-Us?

And a complimentary crack pipe.

 

[BoomerD]

And a complimentary crack pipe.

Well used, I'm sure

 

[A///]

I've got a handful of rental property. I never accept such an up front deal unless they're some very wealthy individual who I know isn't a shit head.

sadly most states are on the side of the renter/leasee so you get double fucked if they do some bad stuff and you can't kick their arse out to the curb.

 

[highland145]

Here, we can get them out in a couple of weeks. Getting compensated for damage...lol...hope the deposit covers it.

 

[A///]

Here, we can get them out in a couple of weeks. Getting compensated for damage...lol...hope the deposit covers it.

not bad then. Do some due dilligence before accepting anything. run their name through search engines, see where they lived if that info exists, call their old neighbours, etc. I once had a couple offer me a year's worth of rent which would have been about 73K and I turned them down because while they seemed like a lovely couple and didn't seem sketchy at all, I couldn't find anything on them that made me think they were who they claimed they are. A few years later one of them came up in a mail order drug bust by the postal office.

My best tenanets have always been people in medicine or in tech. you know their checks can cash what they write and they're very good about upkeep and being polite about someone else's property. I'd rank lawyers or those involves in law as worse as drug addicts.

 

[highland145]

not bad then. Do some due dilligence before accepting anything. run their name through search engines, see where they lived if that info exists, call their old neighbours, etc. I once had a couple offer me a year's worth of rent which would have been about 73K and I turned them down because while they seemed like a lovely couple and didn't seem sketchy at all, I couldn't find anything on them that made me think they were who they claimed they are. A few years later one of them came up in a mail order drug bust by the postal office.

My best tenanets have always been people in medicine or in tech. you know their checks can cash what they write and they're very good about upkeep and being polite about someone else's property. I'd rank lawyers or those involves in law as worse as drug addicts.

I so small dollar lending so I don't trust Boomer.

Friend does "abnb" but only for travel nurses. Myrtle Beach area. Makes bank.

 

[A///]

I so small dollar lending so I don't trust Boomer.

Friend does "abnb" but only for travel nurses. Myrtle Beach area. Makes bank.

Yep, got a few other properties which I strictly rent ot to travel nurses. They make bank, I make bank, we're both happy and they keep the place good and clean. I don't do the airbnb crap myself and have a word of mouth going to whoever will be in the area. Anyone with half a brain would rent out their homes to them and move somewhere quieter and cheaper. Very easy to pay off a high mortgage in a few years with them coming and going. It was great during covid. Didn't have to do more than a few interviews. Even sent some food gift baskets as a thank you for their service.

Lawyers though, they're twats. You need to avoid them like they're a flesh eating virus.

 

[lxskllr]

Lawyers though, they're twats. You need to avoid them like they're a flesh eating virus.

That should be taught to kids in grade school. It's an important life lesson.

 

[highland145]

That should be taught to kids in grade school. It's an important life lesson.

Lol. Like finances but they don't.

 

[A///]

Lol. Like finances but they don't.

we're of the era where we were taught basic finance and balancing chequebooks . Sadly most adults can't comprehend the modern life whether or not they were taught those principles.

 

[BoomerD]

I so small dollar lending so I don't trust Boomer.

Friend does "abnb" but only for travel nurses. Myrtle Beach area. Makes bank.

Dude...Even I don't trust Boomer.

 

[nisryus]

So found out why she wants to pay one year up front. She has emotional issue so has a service animal (a small pig).. and she also has four dogs. After asking her if she is interested then she can go fill out the application on Zillow, and I can run background check and stuff. She got testly right after that and left early.

She did tell me she works in the service industry, but didn't specified which one. Paying full up front was in case she has less earning later in the year so she wouldn't be evicted. errr.. hmm... I dunno, if she is kind of hinting she has stree control issue, and might not be financially stable, those are two red flags.

She is very pretty though.

 

[BoomerD]

So found out why she wants to pay one year up front. She has emotional issue so has a service animal (a small pig).. and she also has four dogs. After asking her if she is interested then she can go fill out the application on Zillow, and I can run background check and stuff. She got testly right after that and left early.

She did tell me she works in the service industry, but didn't specified which one. Paying full up front was in case she has less earning later in the year so she wouldn't be evicted. errr.. hmm... I dunno, if she is kind of hinting she has stree control issue, and might not be financially stable, those are two red flags.

She is very pretty though.

A pet pig and 4 dogs? No thanks.

 

[igor_kavinski]

She is very pretty though.

At least, you can say afterwards, "She WAS very pretty".

 

[BudAshes]

A pet pig and 4 dogs? No thanks.

Hard enough to find a rental when you just have 1 dog.