Coral Springs, FL · Member since 2013 · 26 posts · 4 votes
I was reading the tenant screening guide provided by BP, WOW it is full with some great information. Assuming the prospective tenant income is 3x rent, no evictions, and good references, do any of you also set a minimum credit score requirement? If so, what is the minimum score that you would accept?
You are right there are more to a credit report then a little old score that is the reason we never use a credit score. Talking about tenants being honest I always take that with a grain of salt. Steve, as you know, credit reports are not 100% accurate. I found out the best policy tells the future tenant once they fill out the application that you will visit or send someone to the last apartment complex where they live and talk to neighbors and set back and watch them sweat and lose eye contact, and you know what you need to do next.
@ joe gore. As I have said before, I have never used credit score to evaluate a prospective tenant. I do think it is vitally important to understand the variety of credit scores out there, what they mean and how they are arrived at. You last statement did not seem to display a knowledge on the way a good credit score is obtained. I have always felt it is important to understand the methodologies that other folks or industries use for evaluations as any information can be put to use for a beneficial use.