What do you consider a bad credit score?

Question

I have never had a bad tenant who had a good credit score and I have never had a good tenant with a bad credit score.  There was the kindest most wonderful single mother you can imagine who had an excellent explanation for her bad credit that I took a chance on, and she was a disaster.   What do you consider bad credit.  My number is 650.   Does anyone rent below 650 or have you ever had a good tenant with a score below 650?

Karl B. · Answer

In my Pennsylvania market I rent to anyone with a score of 600 or higher. If they're under 600 they need a cosigner. I've had good tenants who have a credit score in the low-600s.

It depends on your market. 600 is fine in C-class in my market. In my B-class property in Missouri I would have a higher credit score requirement. And I'm sure people with A-class properties typically only rent to people with good credit scores (700 and above in most cases - just speculating as I don't do A-class rentals).

Joel Owens · Answer

It's all relative. Someone could have a great credit score but default is imminent as their debt load is way too high to be supported by the income they have. Conversely someone could have had a recent chapter 7 wipe out almost all their debt and might be some time before they get credit again. So in that case hey tend to have little debt and might be able to pay the rent easier.

I don't focus on residential but don't believe stories in the moment. Some tenants do anything to get into a space as they are desperate for a place to live. Often a landlord needs to go 2 to 3 landlords back to get the real story. The current landlord might say anything to get the tenant away from them and off to somewhere else while in reality the tenant was not good.

Joe Chirdon · Answer

I probably wouldn't go below 600.

What do you consider a bad credit score?

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