Is it OK to deny this rental application?
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!