Parent rental applicants with school-age children who have never left the area but have no legitimate rental references (or give friends/relatives names as “fake” references), may have dubious income sources which are unverifiable and have one or more former SS/FC’s on their record which happened YEARS AGO … BIG RED FLAG, folks. SFR owners beware, they’re out there
Why would anyone rent to someone like that? We’re talking about multiple red flags waving atcha.[/quote]
An “owner” who isn’t making their payments or is upside down and sees no way to move for a better job or simply thinks renters will make most of all their mortgage payment for them. This is why they (stupidly) elect to “manage” the property themselves from afar. This is most often an “owner” who has never been a LL before.
An “owner” in an area which became decimated in value during the millenium boom (TV and inland empire cities and most of South County San Diego) and hasn’t completely recovered in value due to post year-2000 overbuilding so still cannot get their heads above water.
An “owner” who has had their home vacant more than 60 days between tenants, due to too many nearby SFR’s being offered as rentals or too little rental demand in the area.
This type of deadbeat tenant has the following (apparent) characteristics:
– is well dressed and groomed;
– drives a late model luxury vehicle;
– one of the parent-couple may have a legitimate verifiable employment which may or may not qualify for the rental;
– is willing to deposit a substantial amt of cash for damage and pet deposits (they’ll recoup it very quickly upon squatting);
– furnishes a list of “landlords” to call as references if asked.
What is NOT apparent to the unsuspecting “owner”/novice wanna-be LL:
– prospective tenant has continuous access to a family or friend-owned flatbed truck or moving van;
– prospective tenant has continuous access to friends/relatives to help them move – in the middle of the night, if necessary;
– prospective tenant knows how to properly search county RE records for defaults and NOS’s;
– prospective tenant may be licensee;
– prospective tenant’s list of references is “fake” (friends and relatives);
– prospective tenant had previous SS or FC preventing them from buying their own home and wanna-be LL doesn’t know how to check for this;
– prospective tenant had one or more successive BK filings/discharges that may have already dropped off their credit report but nevertheless reveals their character which doesn’t typically change;
– prospective tenant has an explanation for any adverse items on their credit report and plenty of cash to make it all better today.
Yeah, I could see where a lot of newbie LL’s would accept one of these “professional deadbeat tenant’s” applications, ESPECIALLY if they had no other applications under consideration and needed to get the place rented yesterday.
