Bad Credit Potentail Tenant

[John Crawford DeBuys Freeman]

Just need some help with renting a house in a low income area. I've got a potential tenant that has a credit score of 563. They currently owe around $5,000 to various companies. They do make 3x rent as far as income and have a good rental history (However, they didn't make quite as much as they said). These things have been verified. I asked for a co-signer with good credit. However, the co-signer's credit is worst than theirs. I've heard varying opinions, some people say don't worry about bad credit in low income areas/some say you need to a little bit. I'm leaning towards rejection here unless they can find a co-signer with good credit. What would be a realistic credit score to consider "good credit" for low income areas and what is your opinion on this situation? Thanks for your help!

[Account Closed]

They have given you a clear message - don't rent to them!

I have rented to people with low credit scores, that's not a problem as long as the other factors rings true;

• landlord references
• proof of paying rent on time
• length of time at previous rental
• real reason for moving
• how many times have them been in rent court
• employment history
• get other references, mother, aunt, supervisor, pay-stubbs, minist
• check with employer to confirm their statements
• look at their car - is it a mess - do they own it
• are their kids bouncing off the wall
• do they want to give you all cash immediately and move in now DON'T DO IT!
• Did they meet you in a U-Haul truck

Always go to their home - look at how they live - check their drivers lic, make sure it is the same address as where they live

Check the SDAT to make sure the landlord is really their landlord - sometimes bad tenants will give false references.

Always check with landlords other than their last one.

Frst months rent and security deposit must be cash do not accept checks or money orders.