Tenant credit quality
Hi members,
I am in the process of renting my 4 bedroom SFH which I have priced towards the middle of the rent spectrum in the area (~$1850). I have got lot of prospects that are intersted but to my surprise all of them have bad credit scores - mid 500s to low 600s
Typically in this situation I would expect them to put in a higher - 3 month rent as security deposit but so far every prospect has declined to put in a higher deposit
What do you do in this sitation ? Keep looking for tanents with high credit scores or demand higher security deposits or something else ?
Looking for some best practices followed by experienced landlords here on this forum.
Would appreciate your advise !