Should I rent to this woman?

Question

I finally found a renter. However, the woman barely makes enough to cover the rent. She would only have $500 dollars left over a month after paying the rent. But she also gets 30k in child support. I am weary now to depend on someone else for the rent. (her ex husband). If I knew the ex would always pay child support, I would not worry. What do you thinK?????

Answer 1

Trust your gut on what you thought when you met her. Does she seem honest and hard working, or kinda flighty or otherwise?

Answer 2

The word "finally" says it all. You aren't exactly overwhelmed with renters.

It seems to me as if this woman is worth taking a risk for. You might want to offer to accept rent twice a month to help out her cash flow. I think you have a chance to do a good deed and collect money at the same time. Can you have her sign a lease that releases you from the standard eviction procedures so that you don't have to wait 90 days to toss her out if you have to?

Answer 3

I would check her credit report first. Then verify her references and if possible her past two landlords, check court records for prior evictions. Her credit will reveal if she is responsible and can take care of her expenses properly. If you feel hesitant then I would not rent to her. However if she has good credit, a steady job and is willing to give you a few months security up front then I would rent to her.

Answer 4

If she were to apply for a loan and wanted to use the child support as qualifying income, the lender would want to see proof that she is receiving those checks in a timely manner. They would also want to be sure she would continue to receive those checks for at least 3 more years. If the payment history is good, I would use that income in my determination.

Answer 5

many tenants do not have the $500.00 each month after paying their rent. [ i am a apartment manager] and they survive well enough each month... years ago the salary should be three times the rent. this frame does not work anymore....if you are worried, contact her former landlord and see if she paid her rent on time, then make the decision....i manage 48 units with low income tenants and have no problems..[most on retirement]

Answer 6

Ask to see the court paperwork stating how much she gets a month in child support.Then ask to see her last month bank statements to show she has gotten child support like ordered. If she can prove all that to you, then rent to her.

Answer 7

how did you feel when you met her? I unfortunately am in a similar situation and when some one helps you out it's greatly appreciated. Obviously she has child(ren) and with the holidays coming up...if she doesn't work out you can always find some one else. You will at least have rent coming in opposed to a empty house. And you'll defiantly make her day.

Answer 8

Hi, my name is Eunice Saunders and I am a licensed REALTOR. It is against the federal laws to discriminate against anyone wanting to rent your property. If she has included the child support as part of her income on an application with you, you must consider it as part of her income. It would be against the law for you to NOT count the income if she can prove that she has that income. Good Luck! Eunice

Answer 9

if she doesnt meet the income to rent ratio.. you can deny her. I dont blame you on not wanting to count on the child support. My ex doesnt always pay on time, or the full amount. there are times he has gone months w/out paying.

Answer 10

I would say everyone needs a chance once in their life, i would follow my gut, you never know , you might get lucky, and rent is paid on time, plus she might be really a clean neat person & take care of the rental as it was her own.

Answer 11

Why not tell her your concern and ask her if she is willing to provide a statement of his past payments. You can tell from it if he's habitually late or in arrears. I don't know if you have the right to require she provide such information, but if she is understanding and has nothing to hide she might go along with it.