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Forum -> Household Management -> Finances
Potential tenants' parents have financial issues
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sourstix




 
 
    
 

Post Fri, Mar 24 2017, 5:13 am
I totally get op. I live in Lakewood, the matzav is hard. The attitude in Lakewood is even if a couple has a hard time paying, no one kicks them out and the landlord is left with having no way to cover the exorbitant high taxes and then your stuck.


It's very hard when your in such a situation, for that reason people take non Jews. That when you have a legal rental you can just kick them out if you don't get paid. Many people are angry but there is no option. The market is flooded with apartments and people are picky and it's hard to find decent people
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sourstix




 
 
    
 

Post Fri, Mar 24 2017, 5:24 am
Op don't be nice, be businesslike. Ask the parents or the kallah where she works and get an understanding of how much she gets paid. So you know if she has a good job. And ask straight out who will help the coup,e if they struggle. Young couples have no money. It's normal to ask one set of parents to be areivim.

In Brooklyn where I used to live it was normal for the parents to be areivim for the coup,e. And it's still normal.

Op this is the most normal thing and if parents are not capable then they need to find someone else who can be or the kallah has a very good job,
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sourstix




 
 
    
 

Post Fri, Mar 24 2017, 5:28 am
Have an honest conversation with his parents and ask them if they will help them. You can only work in this field by being open and honest, don't shy away this is your business. When they shop for clothes they are responsible so are they now
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amother
Cerise


 

Post Fri, Mar 24 2017, 8:33 am
Guidelines is that monthly rent x 30 must be less than income. Ask them who is paying rent, If they are not being supported by their parents the AMT of money their parents do or don't have has nothing to do.

When we were apt hunting, we were asked our income who would pay etc another person told us that tenants and landlords need to be a Good match like a shidduch and we weren't a good match for them so they would continue looking
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watergirl




 
 
    
 

Post Fri, Mar 24 2017, 8:38 am
Op, you cant assume anything here. You have to be official. Simply ask them who will be paying the rent, and make the people were paying the rent and the cosigners. Have them give you the same proof of income as you would the tenants themselves. Three months of the most recent pay stubs, and first and last months rent as a security deposit. Run their credit scores. Dont be heimish about this. Be official with all of your business dealings and assume nothing.
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amother
Violet


 

Post Fri, Mar 24 2017, 8:42 am
Are you having them sign a lease? When we rented, we had to let the landlords do a credit check, and my parents were co-signers so they got one too. If we were to miss rent, we would have been evicted.

Is this an illegal apartment? I am so confused.
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sky




 
 
    
 

Post Fri, Mar 24 2017, 10:21 am
Officially basements in Lakewood are legal apartments as long as they up to code (one of the reason taxes are so high - they assume everyone has a basement with rent-able income and additional trash)
However, if a tenant in the basement doesn't pay I'm not sure what type of legal action you have. (in general it takes a lot of time and expense to evict anyone - lots of court and time given and extensions - its not a quick process).
I doubt anyone does a credit check (did you rent through an individual or an agency - its not so simple to run a credit check on someone unless you are a legal company or you do it on someone else's account)
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amother
Firebrick


 

Post Fri, Mar 24 2017, 11:05 am
The basement is legal.
And of course we'd have them sign a lease, but we know that if the tenant doesn't pay its not so simple or easy to evict. It's a long process- whether thru beis din or court- and not a pleasant one to be in. We don't want to put ourselves in a situation where we'd have to be cruel and evict someone!
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watergirl




 
 
    
 

Post Fri, Mar 24 2017, 11:14 am
amother wrote:
The basement is legal.
And of course we'd have them sign a lease, but we know that if the tenant doesn't pay its not so simple or easy to evict. It's a long process- whether thru beis din or court- and not a pleasant one to be in. We don't want to put ourselves in a situation where we'd have to be cruel and evict someone!

Are you willing to simply ask them who is paying the rent, run a credit check, get cosigners, pay stubs..: or just make assumptions based on what youve experinced? Maybe her parents are helping? Maube they are (shock horror) self supporting, which may very well be the case if you're saying that his parents probably don't have the means to help).
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amother
Firebrick


 

Post Fri, Mar 24 2017, 11:24 am
watergirl wrote:
Are you willing to simply ask them who is paying the rent, run a credit check, get cosigners, pay stubs..: or just make assumptions based on what youve heard?


Just to be clear, it's not "based on what we've heard." Close family members of ours have had business dealings with them and advised us to stay away. One family member was asked to lend them money and the money was never returned.
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watergirl




 
 
    
 

Post Fri, Mar 24 2017, 11:25 am
amother wrote:
Just to be clear, it's not "based on what we've heard." Close family members of ours have had business dealings with them and advised us to stay away. One family member was asked to lend them money and the money was never returned.

I edited my post. Can you address the rest of it?
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amother
Firebrick


 

Post Fri, Mar 24 2017, 11:26 am
watergirl wrote:
I edited my post. Can you address the rest of it?


We could ask for that info. But if it doesn't measure up to par, it would be an even more uncomfortable situation for us. But I guess we can do that.
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watergirl




 
 
    
 

Post Fri, Mar 24 2017, 11:27 am
amother wrote:
We could ask for that info. But if it doesn't measure up to par, it would be an even more uncomfortable situation for us. But I guess we can do that.

You should be doing this for ANY tenant. Right off the bat, they will take you more seriously as a landlord. And youll have the info you need.
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amother
Firebrick


 

Post Fri, Mar 24 2017, 11:31 am
watergirl wrote:
You should be doing this for ANY tenant. Right off the bat, they will take you more seriously as a landlord. And youll have the info you need.


That's a great idea. Thank you.
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watergirl




 
 
    
 

Post Fri, Mar 24 2017, 11:34 am
amother wrote:
That's a great idea. Thank you.

Hatzlacha, I hope its a good shidduch. They may surprise you. And like I said, its very possible that they are self supporting or her parents are helping. In any case, I hope it works out. Update us!
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amother
Seagreen


 

Post Fri, Mar 24 2017, 1:59 pm
amother wrote:
Just to be clear, it's not "based on what we've heard." Close family members of ours have had business dealings with them and advised us to stay away. One family member was asked to lend them money and the money was never returned.


That is called based on what you heard. It didn't happen to you directly you heard it from someone else.
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MagentaYenta




 
 
    
 

Post Fri, Mar 24 2017, 2:29 pm
sky wrote:
...
I doubt anyone does a credit check (did you rent through an individual or an agency - its not so simple to run a credit check on someone unless you are a legal company or you do it on someone else's account)


You can do credit checks online for around $25. I go to the local sheriffs office to have a CBC done and credit checks for $35, it is a nonrefundable fee to the potential renter paid at the time they fill out the application and give permission for the CBC and credit checks. In this area it is a routine and customary practice.
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watergirl




 
 
    
 

Post Fri, Mar 24 2017, 2:30 pm
MagentaYenta wrote:
You can do credit checks online for around $25. I go to the local sheriffs office to have a CBC done and credit checks for $35, it is a nonrefundable fee to the potential renter paid at the time they fill out the application and give permission for the CBC and credit checks. In this area it is a routine and customary practice.

This. I've always paid for the credit check (they usually charge me $50!!). I've rented my whole married life almost.
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amother
Firebrick


 

Post Fri, Mar 24 2017, 3:13 pm
amother wrote:
That is called based on what you heard. It didn't happen to you directly you heard it from someone else.


Correct. Literally this is correct.
So would you advise me to go ahead anyway, because it's only what we heard from my husband's father, but my husband was not directly involved because he was not part of the business yet? So it's all just based on hearsay? Rolling Eyes
Would you say that until we actually have been stiffed ourselves, we have no right to turn them away?
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esuss




 
 
    
 

Post Fri, Mar 24 2017, 4:09 pm
I know many people living the yeshivishe lifestyle and are not supported at all by parents. Do they have an independent source of income?
I came from such a background my parents never gave us or my siblings regular support. My siblings never got regular support from in laws either. All independent from beginning.
It is very normal to ask them to prove income and give deposit / consigners.
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