All Forum Posts by: George M.

Thank you both for the feedback. Do you have a qualification criteria you use to help you select the most qualified tenant?

For example:

Rental Pre-Qualifications:
-Income equal to ~3x the monthly rent amount.
-No evictions within the last five years.
-Background and Credit checks are required.
-A minimum of a year lease.
-Non-smoking.
-Tenant responsible for all utilities.
-Credit score 620 or greater.

-Credit utilization is below 30%

I am looking for a easy way to quickly qualify or disqualify someone based on a checklist or some sort of checklist score.

I'm a novice when it comes to being a landlord. I've taken on the responsibility of self-managing a couple of rental properties I own, previously relying on a property management firm for this task. This time, I decided to take matters into my own hands, given that I only have a few properties and wanted to learn the ropes through hands-on experience.

Now, I have a question. I've received numerous rental applications from individuals who seem to meet my minimum requirements, but they exhibit a high level of credit utilization, reaching as high as 80%, 90%, and even exceeding 100%. While they haven't missed any payments or become delinquent, my instincts tell me they might be on the edge financially, one mishap away from being unable to pay their rent. Is there a specific percentage or threshold that landlords typically use to assess tenants, ensuring it doesn't raise a red flag?

New to the area and looking for a Real Estate Investment group to join.