 Money from Trust? (by CJ [MO]) May 21, 2018 7:21 PM
 Money from Trust? (by Lucy [IN]) May 21, 2018 9:00 PM
Money from Trust? (by Jan [MO]) May 22, 2018 4:36 AM
Money from Trust? (by LindaJ [NY]) May 22, 2018 5:02 AM
Money from Trust? (by Vee [OH]) May 22, 2018 5:46 AM
Money from Trust? (by Mike45 [NV]) May 22, 2018 1:48 PM
Money from Trust? (by AllyM [NJ]) May 22, 2018 5:51 PM
Money from Trust? (by CJ [MO]) Posted on: May 21, 2018 7:21 PM
Message:
A prospect called rent will be paid from trust. Trustee is another woman. She is not working and her high school grandson is living with her. Not normal to me. What should I ask?
--97.91.xxx.xxx |
Money from Trust? (by Lucy [IN]) Posted on: May 21, 2018 9:00 PM
Message:
Ask the trustee to call you and talk about the financial with her.
--69.160.xxx.xxx |
Money from Trust? (by Jan [MO]) Posted on: May 22, 2018 4:36 AM
Message:
I once had a tenant who was retired and had income was from a trust. It worked out OK. Ask the prospect to show you 6 months' worth of trust letters as proof of income. And as the other poster suggested, call and talk to the trustee as well. --68.184.xxx.xxx |
Money from Trust? (by LindaJ [NY]) Posted on: May 22, 2018 5:02 AM
Message:
The trustee controls the money and assets of the trust. If this trust is for the benefit of your tenant (or is it for the child?), you need to establish a relationship with the trustee.
Not surprising that a grandparent has a grandchild living with them, there is more and more of this. As long as you get your rent money, and the unit is not being trashed, rent on! --108.44.xx.xxx |
Money from Trust? (by Vee [OH]) Posted on: May 22, 2018 5:46 AM
Message:
It is nice but useless to garnish for damages, I suggest 8-10 months prepaid and follow those guidelines I have posted a zillion times. --76.188.xxx.xx |
Money from Trust? (by Mike45 [NV]) Posted on: May 22, 2018 1:48 PM
Message:
I have twice entered into leases as Trustee of the ___ Trust. In each situation, a grandparent or parent set up a spend-thrift trust for the benefit of an adult child who could not be trusted to handle money well. I provided the LL with certain information regarding the trust and its ability to pay the rent. I, as Trustee, was the tenant in these two situations.
I have also confirmed for LL's the income stream of some women who were living off of their alimony and/or child support, and to one very suspicious LL, I provided a copy of the court order.
--71.38.xxx.xxx |
Money from Trust? (by AllyM [NJ]) Posted on: May 22, 2018 5:51 PM
Message:
The problem is if the trustee won't sign checks or is hard to find. You are thinking of renting to someone who has to ask someone else to write checks for her expenses. You need to find out how much money is available in the trust and how much the applicant can actually get in a year. Sometimes it's only ten grand or less. Then you talk to the trustee and possibly see if you can get a guarantee that she will write those checks. --73.178.xxx.xx |
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