Rental Application Scoring System

[David M.]

Hello,

Would anyone be willing to share his or her scoring system when evaluating applications? What variables do you consider, how much weight do you put on each variable, etc.?

We have a portfolio of lower-income rentals, which means hard and fast rules that meet serve higher-end property owners well simply don't work as well for us. We have to delve mute into the"grey area" of sometimes...less than stellar financial or criminal pasts.

Does anyone score their applications on a universal system?

[David M.]

Originally posted by @Tom Ott:

Originally posted by @David M.:

Hello,

Would anyone be willing to share his or her scoring system when evaluating applications? What variables do you consider, how much weight do you put on each variable, etc.?

We have a portfolio of lower-income rentals, which means hard and fast rules that meet serve higher-end property owners well simply don't work as well for us. We have to delve mute into the"grey area" of sometimes...less than stellar financial or criminal pasts.

Does anyone score their applications on a universal system?

 Hello David!

Great question, but can you give me some more information? Do you mean what system to use to determine if a tenant is good or not?

 Yes, exactly. I know BP has a flow chart for whether to approve tenants, but in $20,000 SFHs that rent for $650 a month, I'll never rent the property if I have to wait for good credit scores, no evictions, no criminal history, a year at their current employer, etc.

I'd just like to develop somethingmore standard than 3x monthly rent and my impressions based on background and credit checks.