4 collection, 726 credit score, good?

1 Reply

Hey guys, I’m just starting out. Got my first rental place,renting out my place now and showed to a couple of interested tenants / applicants. One of the applicants is really standing out and he is polite and decent, has a good job and from out of town just got relocated from East Coast to West Coast. We gave him the application form. He filled out and we asked him to provide his own credit report from freecreditreport.com. Things are looking good. The only thing that concerns us is that he has four collection accounts, however on the collection account page of the Experian report, we don’t really see any public records. Is this normal? Thanks!

Please find another tenant, if you can. I had a similar applicant with 600 credit, great manners, few collections on repot, employed, looked like a true gentleman. He was my first tenant and I rented a room in my 3 bed condo. Within 6 months, he started abusing neighbors, other room mates, started using f word to everyone else including me. He hit the room mate’s car, hosted parties with his one night stand girl friends and the list goes. Finally I had to evict him. He did not pay last month rent. I paid more than 500 in legal, what a nightmare. Luckily I did a m2m lease. I did not mention that he started forgetting rent payments!

Low credit or collections or late payments on a credit report means you have been warned.
After this, i screen everyone like hell and tightened my lease agreements. I don’t want to rent to Warren buffet himself unless I am convinced. Be a machine when screening new tenants, don’t act like you are a human. Careful if someone acts too nice or wants to be friends with you within few minutes. Good luck.

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