Is it OK to deny this rental application?

[Deborah R.]

Hi, I'm newer at this.  I have written minimum requirements for renting our houses that I share with prospective tenants which includes ">600 credit score.  Pattern of financial responsibility".

This couple sent me an application.  They meet the income requirements and credit score.  However, when I look at their credit report, it scares me as a landlord.  

He makes close to $60k/year before taxes. Has almost $30k in revolving debt and is very close to credit limits and sometimes goes over them. Has about $700 in collections.  Just tried to open a bunch of new credit cards 5 months ago; those he did open are now close to credit limit.

She isn't making much money because she's studying for her bar exam in two months. She has $9000 in collections from college student apartments in 2018.

Although they meet the credit SCORE requirement, is it OK if I deny them because of these other details?  Or am I overreacting?  Rent for this home is $1990/month. 

Thanks for the advice!  

[Michael Noto]

The important thing is that the requirements are “minimum requirements” not “if you barely meet all the minimums you are automatically approved”. Owing $9000 in collections to a prior landlord to me is basically the same as an eviction. Definitely add a “no evictions” minimum requirement to your minimum quals if you haven’t already  

Did an eviction come up on their background check? Even if it didn’t you can’t approve someone who has a history of not paying their landlord when you are in the business of being paid as a landlord. Sometimes the thinking can be that simple.