Low Credit Score applicants

[Rong Liu]

Hi, BPers,

I need your kind help.

I am in the progress of screening tenants with mysmartmove.com. Currently one family applied as husband/wife/2-kids and uncle. The three adults makes 12.6k annually or 3.5 times of the rent according to mysmartmove or 3.2 times according their recent pay stubs.  Employment history has been verified and they have been with the current landlord for 5 years and he gives them a recommendation letter. The husband and uncle do construction related jobs and wife is kinder garden teacher.

However, all of the three adults have bad credit scores and collections.

• Husband: ResidentScore 536   recommendation: conditional 

He has two credit cards, one is "charged off as bad debt" ($448 past due)  and the other is paid or paying as agreed with $451 balance, no late payment for past 7 months.

And he has two collections from Comcast (2016) and a bank (2013), total amount is $692.

• Wife: ResidentScore 555  recommendation: low accept

She has 4 counts. Out of them, $520 balance from Verizon (2014) charged off as bad debt.

$449 for a credit card company (2014), charged off as bad debt.

The other two credit cards either has no balance or has closed.

She has 5 collections of total balance $2347.

Sprint (2012) for $621

World financial network bank (2014) for $512

Comcast (2015) for $741

Tmobile (2015) for $294

A medical bill （2011） for $179 

• Uncle： ResidentScore 583.   recommendation: accept 

kohls/CAPONE balance balance $1730， charged off as bad debt.

Other credit cards are closed or cancelled and without a balance.

Two collections:

Captial one bank: $1354

GE money bank: $959

I asked for reasons the wife explained when her husband lost job they prioritized to pay the rent and says now they have $5000 cash reservation.

What do you think guys? Is the Resident score same as credit score? How do you look at their debts?  Thanks a lot!!