Long term installment loans for bad credit

Got a letter from the utility asking if something is wrong with the meter. I called them back, told them nothing wrong with the meter, problem is with me. I already have two seperate electric meters and boxes. They will split your bill for you depending on how many people in each apartment. You then send the bill to the company for a breakdown. They then send the split bill to your tenants who pay you directly. Luckily for you, they have it specifically tailored for your city. This may be simple or complex, depending a number of factors: Basement? Units running from a trunk line to bathrooms, kitchen, etc.

The electric would be more involved, especially if the circuits were not separated, as has already been said. I have a duplex that had 1 meter, but two panels (1 feeding the other), so it was simple (after rerouting locations of drops because of window placements). I am glad I did it, saved me from the hassle every month. Your best bet would be to charge a utility fee on top of rent as a flat fee. However, it seems that many newbie investors (some with even less than my three years experience) like to chime in and talk about how great a deal landlords get when the tenants pay in full upfront.

These types of replies got a lot of "votes" in a recent forum thread, implying that the community agrees with that sentiment, while more reserved opinions regarding the matter of accepting large amounts of rent upfront in order to overlook certain applicant weaknesses got much less love.

Can anyone relate personal stories, or anecdotes based on REAL EXPERIENCE, regarding tenants that are at least one full year old, regarding accepting rent upfront? That tenant never gave me a problem, and I enjoyed the rent in full upfront, and they still live there problem free today several (more than 1) years later).

This discussion is triggered by another thread, " Would You Rent To This Applicant". A couple of investors with little more experience than myself seem to dismiss the caution of experienced investors that had some wisdom to share and "vote" for replies posted by newer investors that may not have had a full run with accepting a year of rent upfront.

My opinion: I listen to my elders on this one and would refuse basically any instance where a tenant offered to pay a full year upfront.

My criteria for income, credit, and criminal background are quite reasonable for the area I operate in, and I am not willing to bend them.

Any time a tenant offers to pay a year upfront is a huge red flag, even if they otherwise meet my criteria. Another thing to consider, depending on the state, it might be illegal to accept more than 2 or so months of upfront rent.

My step mom is an immigrant and when she came here and married my Dad they never thought of building her credit. So when he passed away years later she had literally no credit and wanted to live closer to work, her income did not qualify either but her how to get a loan from the bank cash on hand was plenty.

So to convince landlords to take her we offered to pay for the year in advance and I showed them my credit report and offered to cosign.

That was 5 years ago, she still i need money now live in the building (condo) but with a different landlord. If the tenant breaks the lease and leaves loans until payday and then the property is immediately rented that additional rent must be returned to the person that deposited it. I was seasoned long before being offered rent up front and was fully aware of the risks. My screening is very simple, if a applicant can not qualify on their own merit then I reject them.

I do not have any motivation to accept a long term installment loans for bad credit bribe when there are other applicants that easily qualify. In my jurisdiction we have long term installment loans for bad credit had a growing number of professional tenants due to our tenant friendly regulations. What they do is offer a year in rent up front hoping a hobby landlord will bite, usually on a SFH. As soon as they move in they demand the return of their upfront rent payment and legally it must be returned. Once the landlord returns the money they do not ever see another dime in rent payment.


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As professional tenants they can often stall a eviction for 6 months to a year and generally trash the property before they move on to their next target landlord.

If a tenant does not qualify based on your screening policies offering rent in advance should have no bering on your decision. Rent in advance remains the property of the tenant until the last monthly withdrawal.

If they leave before the end of the lease they are entitled to their remaining money back. If a applicant qualifies and wants to pay in advance keep your life simple and tell them they can pay monthly like every other tenant. What a hobby landlord bad credit personal loans online sees as a windfall could be a major pita.

Not to mention my wife and I only started just over 1. From what I gathered from various forums, such as this one, was to establish a minimum set of qualifications for accepting tenants. I did some online searching for laws in my city of Los Angeles that may not allow collecting advanced rent but could not find any. I screened the tenants against my minimum set of qualifications which are a 650 credit score, household income double the rent, and clean background check.

She had a decent history showing she paid her credit cards, car payments, and student loans on time. We signed a year lease with a security deposit of 1. Tenants were long term installment loans for bad credit long term installment loans for bad credit basic in my opinion, only ever called me to have their water heater temp turned down.

Later I discovered they moved in some family members and got a small dog, both prohibited in the lease.

Their lease expired and they stayed for another 2 months. After making repairs, painting, cleaning, and fumigating (place was left with roaches) I returned their security deposit. WIth their advanced rent payment my wife and I opted to put the entire amount towards the principle of our mortgage. So, the maximum sum a California landlord is allowed to accept for move in is a total of 3 months rent.

I ran into them years later when the wife tried to rent another property from me! The best thing to do is make sure your potential tenants have a source of income before renting to them. So, the maximum sum a California landlord is allowed to accept for move in is a total of 3 months rent. As a seasoned landlord since 2002, I have had a process in place for screening tenants that has worked very well. However, when the market went haywire, there was a HUGE outpouring of Tenants into the rental market who had all kinds of credit issues due to short sales, BKs, Foreclosures and such.

These were the homeowners that bought at the top of the market, and then lost their shirts when the bubble burst, and made choices to short sale, deed in lieu, or just walk away from their homes, which left them with horrible credit, but in alot of cases, alot of money (because they stopped paying their mortgage and waited out the lender). However, when you have a market shift that dilutes the tenant pool to such a degree, you have to grow and adjust as needed in order to keep up with the market, and your business. If you have never known such a market shift, CONGRATS! You are lucky, and I hope that you never have to adjust. However, in MANY markets (Phx and Scottsdale were 2 of them), there was a very long period of time where finding a tenant with NO credit issue was harder than one would think.... In 2009, I had a tenant (with good credit) contact me to break their lease. Upon their exit, I started showing and screening Tenants. This was for an upscale townhome in North Scottsdale. However, so many credit issues on these applications. We ended up with a tenant who was just completing the short shale process of her home.