Wow, this business is very hard on the emotions - at least it is on mine.
See my earlier post for details but in a nutshell, very nice applicants - he with a disability income and she with a great longstanding job with a high income. Middle aged, no kids, one dog but not one I was worried about.
So what was my problem? I could not verify any of the details in their application except for her job and income and a previous landlord from year ago who gave her a thumbs up. Current landlords for both and previous landlords for him won`t return my calls either. I can`t confirm whether the disability income is permanent or temporary. Credit reports when I actually got them were useless. His - no history except 2 accounts in collections. Hers - nothing at all - no records period. Even pulled both Equifax and TransUnion and both show `no match`.
When I tell them this, I get a more detailed story. They are on the outs with the current landlord who used to be a good friend until he left his wife and kids for an almost underage nymph. He declared bankruptcy due to his inability to work and depression after becoming disabled and unemployable. She was supporting both of them but due to the high costs of his care she ran up her credit cards and lines of credit.
I have tried everything to qualify these people because I thought they would be good tenants. In lieu of talking to current landlord, I asked if they could provide proof they had paid rent on time over the last year - bank statements or cancelled cheques. No bank statements (they shred them) and cancelled cheques will take 9 business days to get for a cost of $120. Cost isn`t the issue but we can`t hold this decision up for another 9 business days.
Current landlord won`t call back but neither will the previous landlord. Told that was because he has changed his ph. # and he will be calling me but so far no call.
Contacted WCB to confirm his permanent disability status. They won`t talk to me but did give him a letter stating the income was for temporary disability and could change depending on future medical reports. So basically no guarantee that income won`t disappear next week.
More than a few times, they mentioned their many supportive friends who would vouch for them. So I suggested we would consider a co-signer - someone to also go on the lease with them to be legally responsible for the rent (someone with good credit and a verifiable job & income) in the event they failed to pay rent. They haven`t mentioned this option since I suggested it but instead said they should just give up because they had nothing left.
Major concern is that if he takes another bad turn healthwise, will all their income go towards his recovery and how could we evict them under those circumstances if they didn`t make the rent payment. Legit concern because despite AHC & Disabililty payments, this is why according to them, they have such poor credit right now - because of his condition early on and the care he needed.
So I am letting this one go after working on it since last Sunday. They are devastated and so am I, to be honest. Not because we won`t find other tenants, but because I really thought with everything else they are dealing with they could use a break. But also in the back of my mind is the thought that just maybe,,,,,,, these guys are stringing me along. It`s that nagging doubt that led me to finally say "no".
In any case, I am exhausted by it all and now have to begin again, looking for a suitable tenant. Maybe this isn`t the business for me unless I get a lot tougher, but not sure I really want to be tougher either.
Thanks for listening.
Terry
See my earlier post for details but in a nutshell, very nice applicants - he with a disability income and she with a great longstanding job with a high income. Middle aged, no kids, one dog but not one I was worried about.
So what was my problem? I could not verify any of the details in their application except for her job and income and a previous landlord from year ago who gave her a thumbs up. Current landlords for both and previous landlords for him won`t return my calls either. I can`t confirm whether the disability income is permanent or temporary. Credit reports when I actually got them were useless. His - no history except 2 accounts in collections. Hers - nothing at all - no records period. Even pulled both Equifax and TransUnion and both show `no match`.
When I tell them this, I get a more detailed story. They are on the outs with the current landlord who used to be a good friend until he left his wife and kids for an almost underage nymph. He declared bankruptcy due to his inability to work and depression after becoming disabled and unemployable. She was supporting both of them but due to the high costs of his care she ran up her credit cards and lines of credit.
I have tried everything to qualify these people because I thought they would be good tenants. In lieu of talking to current landlord, I asked if they could provide proof they had paid rent on time over the last year - bank statements or cancelled cheques. No bank statements (they shred them) and cancelled cheques will take 9 business days to get for a cost of $120. Cost isn`t the issue but we can`t hold this decision up for another 9 business days.
Current landlord won`t call back but neither will the previous landlord. Told that was because he has changed his ph. # and he will be calling me but so far no call.
Contacted WCB to confirm his permanent disability status. They won`t talk to me but did give him a letter stating the income was for temporary disability and could change depending on future medical reports. So basically no guarantee that income won`t disappear next week.
More than a few times, they mentioned their many supportive friends who would vouch for them. So I suggested we would consider a co-signer - someone to also go on the lease with them to be legally responsible for the rent (someone with good credit and a verifiable job & income) in the event they failed to pay rent. They haven`t mentioned this option since I suggested it but instead said they should just give up because they had nothing left.
Major concern is that if he takes another bad turn healthwise, will all their income go towards his recovery and how could we evict them under those circumstances if they didn`t make the rent payment. Legit concern because despite AHC & Disabililty payments, this is why according to them, they have such poor credit right now - because of his condition early on and the care he needed.
So I am letting this one go after working on it since last Sunday. They are devastated and so am I, to be honest. Not because we won`t find other tenants, but because I really thought with everything else they are dealing with they could use a break. But also in the back of my mind is the thought that just maybe,,,,,,, these guys are stringing me along. It`s that nagging doubt that led me to finally say "no".
In any case, I am exhausted by it all and now have to begin again, looking for a suitable tenant. Maybe this isn`t the business for me unless I get a lot tougher, but not sure I really want to be tougher either.
Thanks for listening.
Terry