Would you rent to tenant who has 10 collections, makes 3 times rent, credit 500s?

Question

I have 2 tenant applications. 1 makes 3 times the rent and the other makes barely enough money for rent. I am just concerned about collections. Please advise.

Chris Seveney · Answer

No

Theresa Harris · Answer

No. The combination of collections and low credit score is a red flag.

Jules Aton · Answer

Nope

James Mc Ree · Answer

You should talk with the tenant to get their story. A credit report will show their current situation.

Have you established an application qualifying standard, such as a minimum credit score? Document that so you don't leave yourself exposed to discrimination claims.

Neither is a strong applicant. You can continue to take applications until you get one you like.

Hemal Adani · Answer

Zillow report doesn't say how old is the collections. I haven't collected old landlord references yet.

Charles J Sabo · Answer

I guess the biggest question I have is are the collections previous or recent? Are they revolving credit or medical? Aside from making 3x rent have you dug anymore on the applicant? Previous landlord reference?

Would you rent to tenant who has 10 collections, makes 3 times rent, credit 500s?

Would you rent to tenant who has 10 collections, makes 3 times rent, credit 500s?

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