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Renting /tenants what kind of background info I need?

A

abc

Diamond Member


hi, I'm gonna have three rooomates rent a floor from me...

I must get SS numbers from all three..

what else should I get documents of...


w2s, current residence, bank account statments? what kind of bills I wanna see them having paid for the last 3, 6 months?

what does am I legally allowed to obtain copies of?
 
what if i run into the classical situation 'oh i dont have w2, i earn tips (waitress? etc)....


 
Originally posted by: abc
what if i run into the classical situation 'oh i dont have w2, i earn tips (waitress? etc)....
Click to expand...

Then, find another tenant. If they can't provide the necessary documents up front, that should serve as a red flag right from the beginning.

They have to conform to your policies - not the other way around.

 
Originally posted by: Tiles2Tech
Originally posted by: abc
what if i run into the classical situation 'oh i dont have w2, i earn tips (waitress? etc)....
Click to expand...

Then, find another tenant. If they can't provide the necessary documents up front, that should serve as a red flag right from the beginning.

They have to conform to your policies - not the other way around.
Click to expand...

I think that depends on the situation. There is no sense in throwing away good tenants because they work in a cash business. Unless you have people knocking down your door to get the place.
 
Originally posted by: Kibbo
Originally posted by: Tiles2Tech
Originally posted by: abc
what if i run into the classical situation 'oh i dont have w2, i earn tips (waitress? etc)....
Click to expand...

Then, find another tenant. If they can't provide the necessary documents up front, that should serve as a red flag right from the beginning.

They have to conform to your policies - not the other way around.
Click to expand...

I think that depends on the situation. There is no sense in throwing away good tenants because they work in a cash business. Unless you have people knocking down your door to get the place.
Click to expand...

It's all good and well to say that, but without legitimate verification of employment history and current employment you have no way to judge whether the person is responsible or not. It's a LOT harder and more expensive to have someone evicted than it is to just say "No Thanks" upfront.

Joe
 
Originally posted by: Netopia
Originally posted by: Kibbo
Originally posted by: Tiles2Tech
Originally posted by: abc
what if i run into the classical situation 'oh i dont have w2, i earn tips (waitress? etc)....
Click to expand...

Then, find another tenant. If they can't provide the necessary documents up front, that should serve as a red flag right from the beginning.

They have to conform to your policies - not the other way around.
Click to expand...

I think that depends on the situation. There is no sense in throwing away good tenants because they work in a cash business. Unless you have people knocking down your door to get the place.
Click to expand...

It's all good and well to say that, but without legitimate verification of employment history and current employment you have no way to judge whether the person is responsible or not. It's a LOT harder and more expensive to have someone evicted than it is to just say "No Thanks" upfront.

Joe
Click to expand...

yep depending on your area it might take up to 3 months to evict someone. Had a friend who had to evict a tenant and it took 3 friggin months while the dude lived there without paying.
 
Verify employment through documents and a phone call
Verify rental history
Have them bring you a copy of their criminal history
Credit history is the least indicative that a tenant will pay.
 
I would never provide a landlord with my W2s, bank account statements, or bills that I've paid. They can check my credit if they want to see how reliable I am. Anything else is NOTFB.
 
Originally posted by: Netopia
Originally posted by: Kibbo
Originally posted by: Tiles2Tech
Originally posted by: abc
what if i run into the classical situation 'oh i dont have w2, i earn tips (waitress? etc)....
Click to expand...

Then, find another tenant. If they can't provide the necessary documents up front, that should serve as a red flag right from the beginning.

They have to conform to your policies - not the other way around.
Click to expand...

I think that depends on the situation. There is no sense in throwing away good tenants because they work in a cash business. Unless you have people knocking down your door to get the place.
Click to expand...

It's all good and well to say that, but without legitimate verification of employment history and current employment you have no way to judge whether the person is responsible or not. It's a LOT harder and more expensive to have someone evicted than it is to just say "No Thanks" upfront.

Joe
Click to expand...

I was mostly referring to the waiter/tip issue, where you can verify employment, just not income.
 
i'm also looking into a 'guarantee of rent' sign off form, anyone heard of those? it's like if you cant pay, i your parent will pay, since you had them sign this when you agreed to start renting' kind of thing..
 
would you write up a contract for collecting rent each 1st of the month stipulation, etc?

how should i write up a contract of rent... that would cover my ass...

we all expect payment in full etc... I'd hate someone to bend the issue in their favor due to 'technicalities'....

should i state methodof payment: check cash etc.
 
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