Contractor · Cleveland, OH · Member since 2014 · 317 posts · 181 votes
Hi, I have been seeing a lot of posts about tenants applying for a lease through a property manager, and getting denied for a low credit score. Whether its for a rental property or multifamily, I assume investors meet perfect tenants sometimes but their credit isn't great.
I am an attorney running a real estate practice in Houston, and my credit repair company I use has been fantastic for protecting my clients' credit through consumer fraud transactions. However, he only does b2b accounts for protection & repair.
Anyone know if property management firms might be interested in his services? I know credit repair is a shady area, but he's quite successful at cleaning up my client's credit in 60 days. (collections, judgments, liens, foreclosures, bankruptcy, etc) Sorry hope this is the right place to post this.
I wouldn't deny someone due to low credit, then send them to someone to get their score boosted, so I could then change my mind on them.
If they come to me with a 500 credit score, and you do some magic to get them to 700, they are 100% the same person they were before they saw you -- right?
I don't put much weight into credit score . If it's bad, I simply raise the deposit a bit to account for the risk. I don't even mind broken leases (I just raise the deposit up a bit again). What I mind are EVICTIONS as that's the ultimate 'f you' to a landlord. Not only did you not pay, but you wouldn't leave. The owner had to get the government and court system involved to get you out. If you have an eviction in the last 5 years it's 2x the rent amount as a deposit at a minimum.