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Old 10-11-2017, 07:48 AM
 
Location: Mount Airy, Maryland
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Couldn't this all be avoided with a larger security deposit? Say 3 months instead of one?
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Old 10-11-2017, 07:57 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
29,855 posts, read 54,552,867 times
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Quote:
Originally Posted by Escort Rider View Post
You make an excellent point there. My only quibble would be to say that a rational landlord is going to look at the amount of SS income as it compares to the amount of the monthly rent to see whether it is a "tight squeeze" for that particular prospective tenant. The ideal tenant would not find it a tight squeeze to pay the rent every month.


But your general point is valid. While there is no absolute sure thing in this world, SS income is about as sure as it gets.
Thinking about it now, rent here is going up by an average of 5%/year, but there are cases where it has been much more, even doubled. If SS/pension income was at all close to a squeeze, a landlord would have to consider that any SS COLA may not keep up with their potential rent increases to maintain market value over several years. It's to their benefit to have a tenant that stays several/many years and is capable of handling the future rent increases.
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Old 10-11-2017, 08:04 AM
 
Location: Close to an earthquake
890 posts, read 678,855 times
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Experienced landlord here; age isn't a discriminating factor in my selection process although the thought does cross my mind of the added risk that a senior man may make the house one day smell like my grandfather's closet.
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Old 10-11-2017, 09:54 AM
 
16,019 posts, read 19,711,969 times
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Quote:
Originally Posted by HappyDogToday View Post
I have been looking at local ads lately and I am seeing something I've never seen before: owners of houses and apartments stating that they do not rent to retired tenants on SS or pensions because they cannot garnish wages should they fail to pay rent.
They also mention not renting to self-employed or people working multiple part-time jobs. Only full time workers. One even wants employer references detailing job security. I think that is particularly ridiculous.
But regarding retirees, I would rather rent to someone who has guaranteed monthly income like SS or a pension rather than someone who could be fired or laid off. No guarantees there of payment as one can lose their job at any time.
Anyway, I feel this is age discrimination and I was shocked to see a prejudice against renting to someone who is retired on SS and/or a pension.
Have you seen this? What do you think?
You may be right. Research the "Fair Housing" laws and report them.
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Old 10-11-2017, 10:20 AM
 
30,165 posts, read 47,394,029 times
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Quote:
Originally Posted by JanND View Post
You may be right. Research the "Fair Housing" laws and report them.
Will it matter if the one doing the reporting is not the one being discriminated against by the landlord?
Don't the agencies doing the supervising actually need a victim to make a case?
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Old 10-11-2017, 11:32 AM
 
7,983 posts, read 11,675,232 times
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Quote:
Originally Posted by charlygal View Post
Why? Landlords have income requirements. Most times, the source doesn't matter. I just rented a place and I was required to have a minimum monthly income of $3600. Would those on SS only be able to show that much regular income? Having a home and investments don't matter since they are not considered income. If one wants to tout homes and investments, then convert some of them to cash and pay the entire lease upfront.
Pensions and social security are income. In this case the source does matter - that is what this thread is about. Now that people dont have pensions but just distributions from 401k's - not counting that is problemeatic. Money is money but denying shelter, shelter that someone can pay for, just because its SS or a pension is not right. Why should someone have to convert to cash and pay upfront for a whole year losing out on gains and interest?
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Old 10-11-2017, 11:50 AM
 
11,156 posts, read 8,563,629 times
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Quote:
Originally Posted by Giesela View Post
Pensions and social security are income. In this case the source does matter - that is what this thread is about. Now that people dont have pensions but just distributions from 401k's - not counting that is problemeatic. Money is money but denying shelter, shelter that someone can pay for, just because its SS or a pension is not right. Why should someone have to convert to cash and pay upfront for a whole year losing out on gains and interest?
I question if a landlord would have problems with ANY verified source of regular, legal, monthly income. If the numbers are right, I would not think there would be a problem. I seriously doubt a smart landlord would put anti-SS statements in an ad.
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Old 10-11-2017, 12:28 PM
 
Location: Tennessee
23,650 posts, read 17,615,071 times
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Quote:
Originally Posted by DaveinMtAiry View Post
Couldn't this all be avoided with a larger security deposit? Say 3 months instead of one?
Many landlords are wary of large prepayment of rent. I would think a bird in the hand is worth more, but there is a stigma attached to upfront payments.
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Old 10-11-2017, 12:30 PM
 
Location: Lakewood OH
21,698 posts, read 23,692,507 times
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My last landlord in Portland was very happy to get a retiree tenant on a fixed income so long as the income was adequate enough to pay the rent.
He just got tired of renting to twenty-somethings who would flake out on him after a few months. He always preferred older tenants.
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Old 10-11-2017, 01:20 PM
 
Location: equator
3,466 posts, read 1,544,827 times
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Quote:
Originally Posted by Serious Conversation View Post
Many landlords are wary of large prepayment of rent. I would think a bird in the hand is worth more, but there is a stigma attached to upfront payments.

What stigma? Drug lords with lots of cash?
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