Author Topic: Landlord question: renting to a low income/high asset person short term  (Read 2997 times)

spartana

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« Last Edit: August 16, 2017, 10:47:41 AM by spartana »

Bert The Turtle

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Re: Landlord question: renting to a low income/high asset person short term
« Reply #1 on: February 26, 2015, 06:42:06 AM »
Where are you looking to stay?  There might be some landlords on these boards who would be happy to rent to you.

As far as your actual questions, just say what you said above.  Since income level is really just a proxy for the question "will this person pay me on time?" I think offering to pay 6 months upfront would make a landlord more than happy to rent to you.  I think the bigger problem than the income would be the fact that you're moving on in 6 months.  But if you're honest and up front about moving on after half a year you shouldn't have any trouble if they do decide to rent to you.  You can even say that by paying 6 months rent upfront, the extra interest that the landlord is getting from that lump sum is the premium you're paying for moving on after a short stay.

If the landlord is savvy, they'll realize that there's always a chance that you'll end up settling down and staying longer than 6 months.

CheapskateWife

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Re: Landlord question: renting to a low income/high asset person short term
« Reply #2 on: February 26, 2015, 07:25:14 AM »
Spartana, 

If you came to me with a proposal to pay multiple months in advance, and brought excellent references to the application process, I would have no trouble renting to you!

thedayisbrave

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Re: Landlord question: renting to a low income/high asset person short term
« Reply #3 on: February 26, 2015, 10:18:24 AM »
I'd happily accept 6 months cash upfront and would even consider negotiating the price down a little if you asked nicely.  :-)

kib

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Re: Landlord question: renting to a low income/high asset person short term
« Reply #4 on: February 26, 2015, 10:32:16 AM »
Agree with everyone else, paying upfront would be huge.  However, it might backfire for you, if you find you really don't care for the home, or the landlord turns out to be a pig who won't hold up their end of the deal because who cares, they already got their money ...   Maybe some sort of escrow deal with a third party holding the rent and paying it out monthly? 

clarkfan1979

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Re: Landlord question: renting to a low income/high asset person short term
« Reply #5 on: February 27, 2015, 08:11:02 AM »
I would just say what you said above. You have low income, but a lot of assets. I would avoid paying multiple months in advance if possible. The monthly payment is what keeps both sides honest.


Gin1984

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Re: Landlord question: renting to a low income/high asset person short term
« Reply #6 on: February 28, 2015, 08:08:25 AM »
I'd happily accept 6 months cash upfront and would even consider negotiating the price down a little if you asked nicely.  :-)
I would not.  My leases are a year long, if you wanted to rent from me you are already "lower" on my list than someone who will stay longer.  Then you have another black mark of not meeting the income requirements.  I'd show them your assets and explain you can pull out X amount to pay.

monarda

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Re: Landlord question: renting to a low income/high asset person short term
« Reply #7 on: February 28, 2015, 08:22:20 AM »
It'd depend where, and which 6 months you're talking about.
There is definitely a rental season in my town, and if you were going to leave in February then I probably wouldn't want to have to fill the place in February. But if you were leaving in May-August, no problem.