Will you rent to this situation?
I have a condo at San Jose. I got an application from an older couple (50s, not married, with a adult high school kid). Would like to get some suggestions/opinion whether I should move forward with them.
Pros:
- Decent income. Almost 7x of rent. They move because the woman got a job in Tesla (verified)
- My current tenant showed the place (she is a really good tenant but need to relocate to out of California) and said the woman is really nice and sounds like a good fit.
- Older, quiet, my previous downstairs neighbor is also an older couple -- the last thing I want to do to them is to have some renters party all the time which will absolutely impact my old neighbor.
- I got both of their previous landlord rental reference, said they are good tenant. The woman very honest told me she recent have one rent paid 2 days late with late fee due to all the transferring, relocating, new job vs. actually her landlord didn't say anything about this. I feel she is honest.
However, my concern is credit score. The woman has only 569, the man is 670.
- Woman did told me her credit score may not above 650 (which I posted as requirement of rent ad), but come out even lower. She explained it's related to her divorce a few years ago still not sorting out yet. I don't quite understand the detail. Strange thing is her credit available show $300, vs. used $337. credit usage >100%..
- Past due history (looks like not rent related), the woman has 12.63%. even the man credit score not great. 3.83% past due.
I'm hesitating whether move forward. The woman offered to have one of her parents who has much better credit score as co-signer. I think at least that will bring the average to >650. Then I actually will have 4 adult on the lease be responsible. (the couple, their adult kid, and good credit parent). -- from here I feel they do like the place and seriously about renting it.
Any suggestions?