Credit Scores for Screening

[Jerry McGinnis]

We have been very strict adhering to a minimum of a 640 credit score for applicant and 3 months rent in gross income but we are struggling to get tenants for our properties. We are now at 4 weeks and still not a tenant. Is anyone using a less stringent criteria and how is it working out for you? Our rentals are in a nice upper end market north of Oklahoma City.

[Thomas S.]

Lowering your standards will always work out the same, you get a lower quality tenant and increase your risks exponentially. 

You have standards for a reason, to mitigate risk. Hold tight to your standards as long as they are reasonable for your market.

If your rental is in a nicer upper end market my opinion is your minimum credit score is too low.