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Updated almost 10 years ago on . Most recent reply

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Anil Samuel
  • Investor
  • Baltimore, MD
103
Votes |
605
Posts

No Credit Check forTenant - Should I rent to them?

Anil Samuel
  • Investor
  • Baltimore, MD
Posted

If you have a tenant that does not have established credit who is part of an older generation that doesn't believe in credit, would you rent to them?  Every thing else as far as criminal, rental, and income has checked out.

Let me know your thoughts and how you handled a similar situation.

Most Popular Reply

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206
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121
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Missy H.
  • Investor
  • Bloomfield, NJ
121
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206
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Missy H.
  • Investor
  • Bloomfield, NJ
Replied

I had that problem with a prospective tenant a few years ago.  The property is in a "dangerous" neighborhood and most of the residents are low to no income.  I met with quite a few prospective tenants and all had bad credit except for one who had no credit.  Let's call him "Al". 

Now, I had met Al and his girlfriend a few times since they had come by several times to see the apartment and show it to their friends and family.  In those meetings, I got to know a few things about him and his girlfriend.  One of the things that I found out about him was that he had a black belt in karate, or one of the other martial arts, I can't remember which.  I thought to myself that if someone is disciplined enough to earn a black belt, it shows character and honor.

I ended up renting the apartment to him and do not regret the decision.  They pay on time and the only times they were late were the two months around the time they just had a baby and the girlfirend was not working.  They are conscientous and always keep the apartment clean. 

I am not saying that I would do the same for every person who has a belt in the martial arts.  I am just saying that when the numbers don't allow me to make a decision, I have to go with what I do know about the person and instinct.  In this instance, it worked out for me. 

  • Missy H.
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