Require Additional Security Deposit

Given the foreclosure and medical bills is it worth accepting this tenant? Depending on employment and landlord verification, the answer may be yes. It is not unusual for us to require an additional security deposit to offset the "higher" risk involved with this type of tenant. Before automatically turning down the foreclosed, medical bills galore tenant consider the above thoughts. Make a business decision that fits your company model.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Screening Tenants With Medical Bills

Medical bills are a very common problem. When you are ill, with no insurance, your options are limited. Most often the individual waits until it becomes an absolute necessity. This is one reason that emergency rooms across the country are always full. When I run the credit reports, these unpaid bills show up and dramatically impact the FICO score. In many cases the individual continues to make appropriate payments on other debits (credit cards, car loans, etc.). So even though the credit score is low and there are unpaid medical bills, it may be a risk worth taking.


Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). Visit Meer and Company website at www.meerandco.com.