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Updated over 5 years ago on . Most recent reply

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Diane Savoian
  • Woodland Hills, CA
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What is an acceptable tenant credit score?

Diane Savoian
  • Woodland Hills, CA
Posted

First time landlord working with a property manager to rent a large, very clean, single family home in a Los Angeles suburb. 

What are acceptable tenant credit scores and requirements for cash reserves?  I see that my initial expectation of credit at 750 was hugely unrealistic. Any insight appreciated.

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Lee Ripma
  • Rental Property Investor
  • Prairie Village, KS
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Lee Ripma
  • Rental Property Investor
  • Prairie Village, KS
Replied

@Diane Savoian - I agree with what both @Jon K. and @John Morgan said. I have great tenants that have low credit scores. Remember, you are NOT your target tenant. When someone is renting there is a reason - they don't have good credit, they can't save up a downpayment, they have past medical bills, etc. Those can be great tenants and stay long term. Imagine if you rented to yourself, you'd probably have high standards and buy within a year. Not the target. 

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