My family owns a condo apartment in Manhattan that I was living in with a friend. My friend has to move out after the year's lease is up so I had been looking for someone to take her place. I found someone on Craigslist who seems to be a great fit (I had talked to over 15 people). He comes from money, has solid liquid assets and real estate portfolio, but left his corporate job and now... [more]
My family owns a condo apartment in Manhattan that I was living in with a friend.
My friend has to move out after the year's lease is up so I had been looking for someone to take her place.
I found someone on Craigslist who seems to be a great fit (I had talked to over 15 people). He comes from money, has solid liquid assets and real estate portfolio, but left his corporate job and now travels/does photography. Point being he doesn't have a steady income now but he has a lot in his bank account.
SO, what specific documents and other security measures should my family request? Links to forms and whatnot would be greatly appreciated.
He's already said he'll provide:
-first and last months' rent
-security deposit (1 month rent)
-copy of gov't issued ID
-referral from previous year's landlord
-financial statements (didn't specify)
Thanks!
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Response by Consigliere
about 12 years ago
Posts: 390
Member since: Jul 2011
Credit Score
Bank Accounts and Brokerage Statements. Possibly a tax return if he makes money from outside investments. Ask him how much money he makes each month doing photography?
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Response by kNA
about 12 years ago
Posts: 67
Member since: Mar 2010
Thanks. What is a good service/company that I can use to obtain/verify the above?
Also, get a credit report with a landlord/tenant record (if any), tax returns from previous two years (if thats not too onerous) bank/brokerage statements, copy of ID, letter from previous landlord (with number you can call), and ask for an extra month security.
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Response by selyanow
about 12 years ago
Posts: 132
Member since: Dec 2007
In addition, the condo managing agent presumably has an application and other requirements so I would inquire there as well.
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Response by SMTSay
about 12 years ago
Posts: 15
Member since: Oct 2012
I dont trust any LL's referral, but sure, throw that in too....
This is more of a roommate situation though, huh? I would take a few more months security, especially if they are not on the lease and will not have a 'real' responsibility... I deal with roommates not paying all the time, and guess who is really responsible?
The situation is tricky because it's technically not a sublease. It's really just a roommate. My family just wants peace of mind that he's not a criminal, has enough liquid assets, etc.
I actually told him I don't want to commit to a full year so we're doing a 4 month trial run which he was cool with.
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Response by selyanow
about 12 years ago
Posts: 132
Member since: Dec 2007
just get money upfront, do a credit/background check, and call his references(hopefully they are locals ones)
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Response by kNA
about 12 years ago
Posts: 67
Member since: Mar 2010
Can anyone recommend a specific credit/background check website? Googling is coming up with tons.
Thanks!
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Response by fieldschester
about 12 years ago
Posts: 3525
Member since: Jul 2013
snowden.com
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Response by Consigliere
about 12 years ago
Posts: 390
Member since: Jul 2011
kNA,
Run it yourself on one of the websites with a catchy jingle.
References are BS unless you know the person giving the reference.
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Credit Score
Bank Accounts and Brokerage Statements. Possibly a tax return if he makes money from outside investments. Ask him how much money he makes each month doing photography?
Thanks. What is a good service/company that I can use to obtain/verify the above?
I would ask for a rental application http://www.rebny.com/pdf_files/LEASEAP.pdf
Also, get a credit report with a landlord/tenant record (if any), tax returns from previous two years (if thats not too onerous) bank/brokerage statements, copy of ID, letter from previous landlord (with number you can call), and ask for an extra month security.
In addition, the condo managing agent presumably has an application and other requirements so I would inquire there as well.
I dont trust any LL's referral, but sure, throw that in too....
This is more of a roommate situation though, huh? I would take a few more months security, especially if they are not on the lease and will not have a 'real' responsibility... I deal with roommates not paying all the time, and guess who is really responsible?
https://twitter.com/SMTSay
Hi all,
Thanks so much for your help.
The situation is tricky because it's technically not a sublease. It's really just a roommate. My family just wants peace of mind that he's not a criminal, has enough liquid assets, etc.
I actually told him I don't want to commit to a full year so we're doing a 4 month trial run which he was cool with.
just get money upfront, do a credit/background check, and call his references(hopefully they are locals ones)
Can anyone recommend a specific credit/background check website? Googling is coming up with tons.
Thanks!
snowden.com
kNA,
Run it yourself on one of the websites with a catchy jingle.
References are BS unless you know the person giving the reference.
When your small (no disrespect) act small...