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Edited on Sun Oct-07-07 08:58 PM by Green Meanie
On edit: After rereading the OP, I see that you may be the one looking for a place to rent... if so disregard everything below. (My advice in this case is make sure he is legitimate and you have a legally binding contract before sending any money.)
First, if you are subletting check your lease to see if that is allowed and be aware of any stipulations that you may be required to follow. I'm not so clear on why he is sending you a contract. It is standard for the lessor (you) to offer the contract.
He is providing you with his bank info so that you can see that he has money available but it could be somewhat meaningless or misleading. I would recommend running a credit check. All you need is his social security number (there is a nominal fee involved to get the credit report). Red flags would be any previous unpaid utilities, for starters.
I would ask for references from previous lessors (landlords) and verify that he is employed and can afford the monthly fee. Ask for previous tax records to verify income if all else fails. The rental fee should be no more than 29% of his monthly income. Also, make sure that you have information (social security number, copy of drivers license...) on any one else who may share the place with him who is over the age of 18 including any adult children. You can always ask for a co-signer on the contract (check this persons credit too).
You will want a deposit to hold the property for him until he moves in along with a signed contract. This deposit can be used as the first months rent. I would suggest conducting a 'walk-through inspection' with him before he moves in and again prior to releasing security deposit monies to him at the conclusion of his lease. This establishes what if anything is damaged before he takes possession and what he may have damaged while living there. Just make a list and get his signature indicating that you agree to the condition of the property before his tenancy in case he does damage (you will need this to cover your butt if withholding any portion of a security deposit.)
Prior to giving him the key or on move-in you will want to collect the security deposit and last months rent. You really want first AND last months rent so that he doesn't move without paying the last rent check. More details would be helpful for me to give you specific info. :shrug: I hope this helps.
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