rental applicants with bad credit -give them a chance to explain?

[Deborah R.]

I am managing our first property by myself for the first time. I am doing it "by the book" - Brandon Turner's book. Rent is $1500/month for this SFH. I have two applicants (single mom and a couple) who seemed great and make plenty of money to meet our requirements but have a bad credit score. I'm using rent prep; so, I don't get specifics. Should I give them a chance to explain and possibly allow them to rent despite the bad credit? Maybe I'm just getting eager to get somebody in there, but I have been surprised how many people have bad credit. Also, before showing the home, I send them our minimum qualifying standards which details minimum credit score, responsible financial life, etc. They still paid to put their application in and seem like they'd work out well. Advice please. Thanks!