Screening Tenants/My 1st time-Need Help

[Kimberly H.]

I have a long story to tell you guys.  I was the person that purchase a baltimore city duplex from FNMA, that had my copper pipes cut a day before closing back in August.  I will document my journey in a few weeks.  It's been so crazy!  Long story and I can't wait to share. 

But, I do need you guys right now.  I have one apartment completed and I've had several showings.  Well, one person actually finished the tenant screening in record time. Lovely family, well manner children, excellent job..... but hear this.  My minimum credit score is 600.  Her's is 556, due to a bankruptcy 3 years ago.  Everything else since then has been just OK.  A few 30/60 days late.  Only on her job for 9 months.  That's when the lates happened.  She meets the income requirements 3x the rent plus she gets child support. What should I do....... see, now I'm getting emotional instead of being smart!

Can I wait to give her an answer until a few more potential renters complete their paper work.  Sad to say, I really like her.  

[Cal C.]

For her I'd say I'd love to rent to you but you have to work on your credit first.  The stricter  you can screen the better you'll be off in the long run. Always remember a marginal tenant who fills this month's vacancy will likely  cost you much more than waiting a month until a better applicant comes along.  Yes, those can be some awfully long weeks in that vacant month but in the long run it will be worth it.  

To put it another way SCREENING IS ABSOLUTELY VITAL TO YOUR LONG TERM SUCCESS!