Do they have any late pays to the current LL? How do they compare with other prospects interested in retning your place (have you attempted to rent to others)?
I tend to advertise the unit to all and accept all applicants than pick the most qualified - did you do that?
BK five years ago is not that significant if there are no late pays on the credit report in the last 24 months.
Does the self-employed applicant have two years of tax returns showing sufficient self-employment income to qualify if it is combined with the W-2 employed appicant?
If so, then I would take the chance in a slow rental market. If I have a strong rental market with more qualified applicants beating down my door, then I would opt for a better qualified applicant.
you need a competent atty to review the documents to see if there is a loophole. As i have set up quite a few condo and homeowners associations, i highly doubt there is such a lopphole as we intentially go out of our way to make sure the % of owner occupied vs. rental does not go over a certain point for the overall health of the community.
Some HOAs may not enforce the rental restriction, but when a new board is elected the new officers may decide to enforce.
If the association does not permit more than 20% of the properties to be rentals, then you need to know whether your intended use of the property would be permitted if you purchase. You have to ask the association manager what percentage of units are currently held for rental use.
I think you gave her a more than reasonable solution.
If there is a slider to the back they do make a removable insert.
Jim
She can get a used door (to install the doggie door in) for a fraction of the price of a new one at a home salvage store. Check the phone book.
Do they have any late pays to the current LL? How do they compare with other prospects interested in retning your place (have you attempted to rent to others)?
I tend to advertise the unit to all and accept all applicants than pick the most qualified - did you do that?
Make sure you contact the last 2 landlords and see what kind of tenants they were (i.e. paid on time, cleaned the place after moving out, etc).
BK five years ago is not that significant if there are no late pays on the credit report in the last 24 months.
Does the self-employed applicant have two years of tax returns showing sufficient self-employment income to qualify if it is combined with the W-2 employed appicant?
If so, then I would take the chance in a slow rental market. If I have a strong rental market with more qualified applicants beating down my door, then I would opt for a better qualified applicant.
you need a competent atty to review the documents to see if there is a loophole. As i have set up quite a few condo and homeowners associations, i highly doubt there is such a lopphole as we intentially go out of our way to make sure the % of owner occupied vs. rental does not go over a certain point for the overall health of the community.
Some HOAs may not enforce the rental restriction, but when a new board is elected the new officers may decide to enforce.
If the association does not permit more than 20% of the properties to be rentals, then you need to know whether your intended use of the property would be permitted if you purchase. You have to ask the association manager what percentage of units are currently held for rental use.