Tenant one: Individual, 49 years old, steady job, strong credit, wants to sign two year lease. Rent is listed at 1750 per month, she offered 1650, and is unwilling to go up. We would still be bringing in about 225.00 a month above average expenses. Move in July 1. Has already completed application. I am confident she would sign today if I sent her the lease. Continues to look at other places.
Tenant two: Couple relocating from out of state. Arriving June 4. Inquired about a 30 day rate. I gave a rate of 2625 for one month, 2187 for month to month, and 1750 for a year lease. They are eager to secure something quickly, but want to see the place on June 6th prior to committing. I know nothing about the tenants background, credit, as they havent completed an application. He seemed pretty confident they would at least do a month to month lease at 2187. He said his current job assignment has no specific end date. It could be six months or two years. He works for the IMF, and has moved 7 times in the last 15 years.
Other information: We just recently put in 10,000 of renovations, and I haven't received rent since February because my tenant died.
My wife and I disagree on what to do. I want to take the 1650 sure thing for two years. She wants to roll the dice with a shot at a higher return, but more question marks.
What would you do?