Minimum FICO score for new tenants

Minimum FICO score for new tenants

Accountant · Tulsa, OK · Member since 2018 · 312 posts · 349 votes

So I recently had my only tenant give notice, and am about to start the search for a new one. Just wanted to poll BP for what minimum FICO scores you require for applicants, I know this can be area specific, the property in question is in what I'd consider a B area. Rents in the area for similar duplexes range from $1,200 - $1,400. I'm leaning toward a minimum of 680, but considering the time of the year I'm concerned this may limit my applicant pool too much. Let me know your thoughts, thanks!

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Investor · Chicago, IL · Member since 2016 · 1k+ posts · 930 votes
7y

Score is not always indicative of ability or willingness to pay. A LOT of things can impact score for people who otherwise pay EVERY bill on time. It's a flawed system, even though it's widely used.

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