Potential tenants' parents have financial issues

sourstix

Fri, Mar 24 2017, 5:22 pm

Op I'm sorry for everyone saying you should go for this. I am a house owner and I wouldn't risk this. There is no one that will back them. If the parents won't, who will? Young couples have a very hard time and need someone that is willing to back them sometimes. Sorry I am coming from a place that has had bad experiences and ended up losing a lot.

Unless you get Comintern I wouldn't do it.

amother

Cerise

Mon, Mar 27 2017, 7:27 pm

sourstix wrote:

You did credit and income checks on the young couple and verified that they were financially stable enough to pay the rent and then had a hard time? Our r u just making a blanket statement that young couples have a hard time and regardless of their financial status will stiff you

seeker

Mon, Mar 27 2017, 9:05 pm

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!

It's cruel to evict someone (after they have demonstrably not paid their rent) but not cruel to back out of signing a lease (only on suspicion that they might at some future time not pay their rent) after leading them along several times making them think if they just wait for a mutually convenient time you're ready to rent them an apartment?

sourstix

Tue, Mar 28 2017, 6:39 am

No I didn't do credit check. And here's the catch. In my community no one does a credit check. It works very different. Yeshivish and chasidish people work differently. The way it works by us, is that parents consign, they help the newly wed. Many of the ones who have no help their dh don't sit in kollel for long. And they become self sufficient. Both go to work and make ends meet, I have had such tenants but to give a lease without it was not a good experience. To say the least.

And there are plenty of people who struggle even though both work, there's no guarantee. I usually give tenants a low price rent. For newly weds because if they are newly wed I want them to stay for a while. Even after the lease was over I didn't raise their rent if they paid responsibly.

I actually had a newly wed the parents cosigned and the couple became self sufficient very quickly and I never raised their rent even after the lease was up. And you know what they didn't appreciate it. But when I sold that house the new owners raise red their rent by $600!

Yes that's in Brooklyn. So I'm speaking of experience and of being fair. Cause that's how I am.

But tenants don't always appreciate. Ok I'm rambling.

Whatever this is how it works by us.

amother

Cerise

Tue, Mar 28 2017, 8:17 am

sourstix wrote:

Well well well.. I hope u don't take this the wrong way, but u seem to be be making a lot of assumptions and maybe that's where ur going wrong. 1) about newlyweds paying their bill 2) about my background. You keep talking about "us" how do u know I'm not part of that community?! I happen to come from a chassidish background due heimish. My prospective landlords in Brooklyn/Monsey were all chassidish or yeshivish and maybe 3 didn't want credit checks or guarantee of income. (By guarantee, I mean if parents are responsible for rent they get a credit check). So no, it's not that "no one" does a credit check. Its very normal and responsible to do a credit check, even in "chassidish and yeshivish" communities.

sourstix

Tue, Mar 28 2017, 8:41 am

Ok cerise, I don't claim to know it all. I own and so do many people I know. Family and friends. I never ever heard of it. But if you say people do then I surely beleive you.

Op you own the house do what works for you. Certainly don't make the kalla think she has an apartment if you are not considering her.

You need to do what works for you.

I would love to hear what lakewooders do. I don't do a credit check. Maybe it's a good idea.

This is my experience, I own in Lakewood, I was not able to get a Tenant for 4 months. You are hearing correctly. I had to do many things to get one. And it was in a developement. There is a surplus of apartments. It's very hard, people are doing ridiculous things to get tenants.

I ended up taking someone that was coming back from Israel and I got less then others in rthe same exact house. Beleive it or not. They bargained and I had to give in.

I would never get a credit check from them because they were coming from Israel. There goes that. Bh" they are great tenants and are paying on time without any complaints.

You really never know.

You could get decent people and not decent ones. It's not easy