I don't like the 600 credit score.
besides checking the financials, I like to meet my perspective tenants. Are they willing to meet first or taking the unit in blind faithful. Obviously if its faith, NO WAY !
Also, be careful of the scam where they send you a larger check and you deduct the monies and return the rest.....BOOM their check bounces and they already have your cash too,
I give priority to locals, we have found that people coming from outside the area don't tend to stay long. There are plenty of reasons for things to not work out.
Agree you should meet the applicant first, but think you could meet them and they could see the house via Facetime or other technology. Ask for a scan of their drivers license if you proceed.
Are you sure they are changing employers? I have relocated with my same employer twice. But, folks are not staying with the same job or employer as long now, so the thing to look at is overall job history, how long they have held jobs, and what proof of current income they can provide.
The applicant is making $100K but only has a credit score of 600.
You do not seem to make a big deal of it but the 600 credit score would big red flag to me. It indicates to me that the applicant has a history of making late payments or stiffing a creditor.
If the property is not generating a lot of applications, I would definitely have the applicant address the 600 credit score, review credit reports to what has been going on and see if there has been any improvement in payment pattern. I would also confirm salary history and reason for the move (job transfer?). Get proof of salary and talk to prior landlords.
To sum up, all the usual due diligence. But a 600 credit score would not meet my credit criteria unless there were some extremely extenuating circumstances that can be verified.
Like a previous poster, I (or my property manager) also would want to meet with any applicants interested in my property and we would be very suspicious of any applicant who wants to rent sigh un-seen.
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