Credit Score Conundrum

[TaRa Mehta]

Hey all,

I've listed my first BRRRR property for rent. It has been renovated REALLY well and I got a LOT of inquiries the first week. Now it has dwindled down. People don't reply back once I say that one of the requirements is a minimum credit score of 650.

Is this really a unrealistic expectation ? Unfortunately for me, the house across is literally falling apart. So a person with a very good credit score might end up considering other options. The rest of the houses on the street are in good shape, and it's a very safe neighborhood. I don't know if I'm overthinking this, or if it is the the cold season that's not bringing in more hits. My realtor told me that if someone had a 650 credit score, they might be considering buying a home. 

Should I really consider reducing the credit score, and then analyze on a case by case basis ? I would love your inputs and your experiences with sticking to this requirement, vs. lowering it.

Thanks in advance ! 

[Bill B.]

If you start changing your screening process, make sure you write it down before you change it. You are going to be the target of fair housing violations if you turn down one tenant with a 600 score and then accept another with a 600 score without a reason in your screening requirements. And not one that you make up and write down after the lawsuit.