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Updated almost 5 years ago on . Most recent reply
A tenant without credit score
Dear BP family,
I have a potential tenant who is interested in my property. She is single doesn't have any kids and makes 3x the monthly rent. However, she has no credit history because she is only 26 years old. (never even had a credit card)
What are your thoughts? What extra precautionary steps should I take?
Thank you all in advance,
Eli K
Most Popular Reply
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@Eli M. be sure to call her work and references to verify everything and run a background/credit check anyways to see what pops up, also, although I have never done it myself, you can ask for a parent to cosign for them.
The other thing I do if everything else checks out is get an increased deposit. In Maine I am allowed up to 2x rent as a deposit. The score is low or non existent up the deposit.
I would also be nice and tell her to get a credit card and start building a solid credit history "only 26" is not a good reason not to have a credit plan...