Would you accept this application?

Question

Newbie question, has an application for a B class neighborhood where applicants income is right along border 3X with the new job they just moved ( a better paying). So asked for bank statements to verify 3 months of rent, but they have no savings.

but their credit score is fine and no late payments or evictions.

wondering, if that should be consider may be with extra deposit or not?

but their credit score is fine and no late payments or evictions.

wondering,  if that should be consider may be with extra deposit or not?

Alex Corbishley · Answer

First and last and deposit is the way we do it with screening through TransUnion.  Meet them in person if possible when you walk through. Call their references form the application. Talk to your potential tenants, there could be many reasons why they’re moving.  If they meet your criteria, rent to them.

Karl B. · Answer

Since it sounds like you're on the fence with this potential renter, ask them if they can get a co-signer. If they can (after verifying the co-signers' income), that will lessen the risk.

Bruce Woodruff · Answer

Gotcha....maybe verify with a call to employer?

Tanim J B. · Answer

They met criteria, except their job is new which made them fulfill the criteria. Normally for that i see ppl verify applicants should have sufficient funds equal to 3 months of rent in that case? All suggestions are welcome :)

Bruce Woodruff · Answer

What are your screening criteria? Do they meet them or not? You don't want to just take each potential tenant on a case-by-case basis, can you?

Julie Hartman · Answer

@Tanim J B. Hopefully you were able to verify the new job is legit as well as excellent previous landlord reference. If they have no savings, the ability to provide an extra deposit is doubtful. If they have a credit score in the high 700's then it's probably fine.