Is there a reason to be concerned about renting to someone who's primary income is disability pay?

Question

I have a few people I am considering for renting my place. One of the couples I like a lot but I am concerned because their primary income is disability due to being injured at work. Is this reliable? Should I be concerened?

Answer 1

As long as they are not MENTAL or acting weird, i would not worry.

Money is good from all renters that are decent and normal.

Ban the DRUG users and alcohol drinkers too.

They are nothing but a problem from day 1.

Answer 2

It can be very reliable.  Is it social security?  SSI?  Private insurance?  Is it ongoing or for a set time period?  Do they have to requalify?

Can they afford the place with this income?  Not more than 1/4 to 1/3 monthly income?

Contact prior LL, and get rental reference

Verify this income, check stubs

Have them fill out a credit check and look at it:  do they have a pattern of running up bills and not paying and poor financial decisionmaking

Answer 3

No income can be guaranteed, i see no reason why you shouldn't rent to them.

Answer 4

no steady income is better...but if they are not permanent disability..then i  dont think i would chance it. unless your willing to take a fall a month or two if things dont go well when they are back on their feet.  

Answer 5

I would be worried.  My worry comes from two areas.

The first is that are they permanently disabled or are they temporarily disabled.  This will affect if their disability will come forever or will it eventually end and they will need to return to the work force.  If it is temporary then how long will it take them to find a job once their disability ends?

the second part is that there will be a lot more wear and tear on the property.  When people are in a place 24/7 you get more wear and tear then if they were gone for 10 hours of the day.  Additionally, when someone is home all day they tend to have friends over, etc.  These are all people who don't work and while the people you are looking at can be good, who knows what their friends are like.  do you want them all hanging around your place all the time?

Answer 6

It's not so much their source of income as it is the character of this person.

Answer 7

Yes!

This type of income can be temporary.

You also cannot sue and attach this income.

I take it you are a private landlord?

They could be sue dogs?

Could you take the hit?

I know I sound like an ***.

But, it happens everyday!

Source of income is a very important issue when you are the owner!

Answer 8

No. It's sure income as long as they continue to be disabled. My vague concern is how they would occupy all that free time that would have been involved in a job. Idle hands are the devil's worshop.

Answer 9

My first concern would be their ability to maintain the property.  If that is not an issue then consider  disability payments come in different forms.  Is their disability income short or long term.  If it is short term, when does it end and will they be able to replace the SSI with work?  If it is long term, they are required to periodically reprove their disability.  Are they willing to show you their disability paperwork and discuss these issues with you?  If so, you might have fine tenants.