How to choose tenants?

[Edwin Ortiz]

I received 2 applications for my rental property. 1 of them meet the income requirements (about 5x the rent) but after doing a credit check I noticed that they have 2 accounts in collections (under $2k both) and in their credit report shows that they are only 68% on time in their payments. The second applicant monthly income doesn't meet the 3x the rent threshold (they are just $150 short from the threshold) but they have a good credit score, 100% on time with their payments and no accounts in collection. I'm a newbie and this is my first time putting the property for rent. Any advice would be appreciate it! Thanks!

[Joseph Firmin]

@Edwin Ortiz without knowing more, the candidate with the 100% on time payments is a safer bet. There are lots of other things to screen on though. I'd recommend reading Brandon Turner's book on managing rental properties or Landlording of Autopilot. Those books have everything you need in terms of screening tips and tricks. Good luck!