Two adults and only one meets credit qualification

6 Replies

If you had a standard of 600 credit score and two adults fill out applications, with only one having enough credit to qualify, what do you do?

Make sure that one person's income is enough to cover rent x 3.

@Beau Pearson You can validate that the other person has been in their job for more than a year too. 

Keeping in mind that ultimately you could be stuck with either one as your sole tenant I would reject them both if they are co-applying.

If one qualifies alone and you accept them both only offer a M2M lease so that you can get rid of them easily if the need arises. Do not make the mistake of believing a term lease provides you with security. A term lease only protects the tenant.

Originally posted by @Beau Pearson :
If you had a standard of 600 credit score and two adults fill out applications, with only one having enough credit to qualify, what do you do?

 If the person who did qualify was strong enough to qualify on their own I wold most likely approve them if the 2nd person had no felonies or evictions.

I would put both of them on lease. make sure they can cover rent and no criminal record. then if something were to happen then you could go after two instead one.

I would remember that I am a landlord not a financial institution and focus on income and rental history.

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