What cutoff point do you use for Credit in tenants?
I just put my first unit on the market and I'm getting a whole range of interested parties. Many of the folks who seem like decent potential tenants have lower credit scores. There are many folks in the 600-650 range, which seems very low to me, but perhaps I'm being too strict on this? There isn't a lot I feel I can use as criteria, so this serves as a sorting mechanism, but I don't want to limit my pool too much. Is there a cutoff point I can use as an indicator of someone who does/doesn't pay things off? Is there a magic number that sorts out the unreliable tenants and keeps the ones who will likely stay for a while and pay on time every month?!