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Updated about 2 years ago on . Most recent reply

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Tim Story
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Tenant Credit Card Debt

Tim Story
Posted

Hey everyone, my wife and I are listing our first rental and are processing applications from prospective tenants. When do you see an applicant's credit card debt becoming an issue/red flag? The rent is 1900/month, the applicant earns 5000/month, roughly 2.6x rent but has 16k in credit card debt in addition to a 10000 car loan. Should we be weary of this debt? on the flip side he has 100% on time payments and a 709 credit score. What is your advice? Thanks everyone!

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