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Updated almost 8 years ago on . Most recent reply

User Stats

8
Posts
1
Votes
Dianna Marble
  • Investor
  • Attica, MI
1
Votes |
8
Posts

Potential Renters with Items in Collections

Dianna Marble
  • Investor
  • Attica, MI
Posted

Hello!

We are in the process of screening new tenants for our rental property. I am beginning to wonder if there are renters out there who do NOT have things in collections?? To me, having accounts in collections shows me that they don't pay their bills, right? I have had multiple applicants tell me that they have no debt but when we run their credit report, they have multiple (some up to 15 accounts) actively in collections. So, guess I am just looking for some advice when it comes to screening tenants. Is any amount in collections acceptable?? Also, I recently screened a couple who doesn't even have a FICO credit score. Is that a bad sign? 
I personally don't feel it would be smart to rent to someone that doesn't pay their bills but I am fairly new to this and would love some constructive feedback. Thank you in advance!

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