Need Help - Tenant Screening Question
When screening prospective tenants, specifically students in this case, what are your acceptance requirements for credit checks and 3x monthly income? Acceptable criteria is fairly straightforward when it comes to past evictions and criminal history, but a large number of students don’t have jobs or credit. When it comes to credit checks, would you check to make sure that they don’t have bad credit and that good or no credit is acceptable? If the students don’t have a combined monthly income of 3x rent, do you require a cosigner? I think this makes sense, but even if the student’s parents sign as a cosigner and meet the 3x income rule there is no guarantee they have sufficient net income left after all of their own bills/mortgages are paid to cover rent payments.
All advice is appreciated!