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Originally Posted by Eric Coffey

I'd jump on it. Of course, I'd still put them through the standard vetting process (background/credit check, employment/income verification, etc.). If the guy is a writer, he may have just sold a script or got paid for some contract work and is now sitting on a nice cash-cushion. However, if neither of them hold a "normal" W2 job, their income may not be very consistent.

My wife and I are thinking about the same thing. Personally, I much rather take their money month to month and sign a yearly lease. I realized that most people aren't too good with money management. Money goes through that hole it just burned in their pockets.

Also, if you do lease it with ANY rent monies up front that are in addition to the legal limits, make sure that you include a waiver/verbiage in the contract that they are doing so voluntarily, and that tenants are aware that doing so is not a requirement. In fact, I'd write it up as a normal lease, stipulating the legal amounts due, then put the waiver/verbiage for the additional volunteered rent in an addendum. A year up front would actually be 12 payments + security deposit + any non-refundable cleaning/pet fees, so be sure they know that going in.

I'd make sure funds are legit/clear prior to handing over the keys as well. YMMV...

Good tip, thanks