Landlord Question and Answer Forum

I am renting my home for the first time and found a couple that viewed my home and want to rent it. I am using a company to do a full background and credit check at the couples expense. I sent them the Tenant Screening Application. What I see is they are both on social security disability and the husband gets LTD from his former employer. They owned 2 homes and forclosed on one in 1/2009. They just filed bankruptcy on the second home in 12/2009 and have not appeared before the judge yet so it is still pending. Based on the proof of income, they can afford the rent, but can their pending bankruptcy have any affect on receiving rent from them in a timely matter with a 12-month Term lease. Should I have them sign a month-to-month Rental Agreement for awhile until I see that they will and can pay rent on time, just in case I have to evict for Non-Payment/Default of rent.

Hi Denise, You're better off losing 1 month rent vs losing 3-6 months because tenant didn't pay the rent and it took you that long to take possession of the property. Since you’re new at this, consider hiring an agency to find you a qualified tenant. Good luck. Keep us posted.

Posted by Stan M, CA on Wednesday, March 17, 2010