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Updated almost 3 years ago on . Most recent reply

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29
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Ram Hernandez
  • Flipper/Rehabber
  • Garland, TX
4
Votes |
29
Posts

Tenant and fico score

Ram Hernandez
  • Flipper/Rehabber
  • Garland, TX
Posted

Hello,

I'm trying to rent my first house and do my first tenant screening process.

My question is when you pay a company/website to do the tenant screening process is the credit score included in this service, or do I get the tenant's credit score from another application?

Thank you,

Most Popular Reply

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9,020
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Drew Sygit
#1 Managing Your Property Contributor
  • Property Manager
  • Royal Oak, MI
5,691
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9,020
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Drew Sygit
#1 Managing Your Property Contributor
  • Property Manager
  • Royal Oak, MI
Replied

@Ram Hernandez

Don't make the mistake of making decisions solely on credit scores!

Scores work great for applicants with 680+, but not always. You may find applicants with 720+ scores and only student loans that are in deferment - how does that prove they can budget and pay rent on time?

Similarily, if you are renting Class C properties out, you'll be dealing mostly with applicants with scores under 600 and will have to learn how to read a credit report.

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Logical Property Management.
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