Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

11
Posts
1
Votes
Lu Carter
  • Austin, TX
1
Votes |
11
Posts

Need to make an applicant decision

Lu Carter
  • Austin, TX
Posted

I have received an application from a husband and wife for my SFH in the Austin area. Rent is 1,950 mo. I am not pressured to get someone in right away but of course I would like to. I don't have any other applications at this point but this is the active season.

Husband is coming from another state to begin job in same field as past job.  Salary is higher than nec to meet my requirements and I have verified his employment.  Have spoken to past landlords also.  He rents his current house for only $975.  He has never been late with rent but the landlord has never been inside the property since it was leased in 2013.  Now here is the kicker. Wife's mysmartmove score is 801 and husband's is 543. He has credit limit of $210. 5 years ago he had numerous late student loan payments.  Also he has a slew of vehicle related issues under his criminal report.  None appear to be serious.  The most recent ones, settled in 2015, involve driving without insurance and driving with an expired plate.  (During that time he was making a high salary so this seems like an example of financial irresponsibility to me.) 

Normally I only accept very qualified tenants. This is a B+ class property. Before I saw his credit/criminal report I was going to offer the lease with a double deposit.  Now I considering denying the application.

Opinion are welcome.

Most Popular Reply

User Stats

691
Posts
610
Votes
Samantha Klein
  • Investor
  • Monroe, WI
610
Votes |
691
Posts
Samantha Klein
  • Investor
  • Monroe, WI
Replied

I'd say 5x rent is great, nobody is perfect so with that said, if his credit was better, they'd be buying a house, not renting. I would personally rent to them. If previous landlords gave decent references and it looks like they did, I would just schedule random inspections to check for damages every few months to make sure they're treating your house with respect.

Loading replies...