Credit score barely below requirement, accept or decline?

[Steven Peterson]

We have potential tenants that seem like a great fit other than the credit score is just below our requirement of 600.  Is there a good way to make up for this?  Conditional lease?  Increase deposit requirement?  

[Nathan Gesner]

Q: Why do we screen applicants?

A: To determine level of risk

Even someone with a perfect application presents a level of risk; it's just so small that a small deposit is sufficient to mitigate the risk. When someone is higher risk, you may still be able to accept them but take a larger deposit or charge higher rent to mitigate the risk.

I use a score sheet (0 - 30) for screening. The lower the score, the more deposit they pay. When someone looks good but has a really crappy credit score, I may charge a double deposit to mitigate my risk. It's not cheap for them, but I'm willing to accept the risk if they're willing to prove they're serious.