What criteria can I use to disqualify a potential renter?

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  • Nathan GesnerBusiness Member
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    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    7y

    Anything not covered by Fair Housing.

    Don't like facial tattoos? Denied!

    Want everyone to have a credit score of 700 or better? Denied!

    Don't like the car the drive, the clothes they wear, or the smell of cigarette smoke when you show the home? Denied!

    There's more to it than that because Fair Housing spells out some very specific groups you can't discriminate against but there's also this little thing called "disparate impact" that must also be considered. Study, study, study!

    In general, you want to rate people based on their ability to pay, their history of paying, and how they care for a home. This information comes from a credit/criminal background check, employment history and current income, and Landlord references.

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  • Rental Property Investor · Saratoga Springs, NY · Member since 2017 · 238 posts · 200 votes
    7y

    @Charlotte Szynskie Nathan G really knows his stuff and is extremely helpful! 

    The main criteria I look for are:

    - Household monthly income is 3x greater than rent

    - Credit Score is above 625

    - Clean background check, no previous evictions, felony's etc.

    I spell this out on the application and listing to ensure only serious renters apply.

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