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Updated over 7 years ago on . Most recent reply

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940
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Elizabeth Wilson
  • Real Estate Investor
  • Memphis, TN
694
Votes |
940
Posts

Can you state: "credit score must be above ___" to rent

Elizabeth Wilson
  • Real Estate Investor
  • Memphis, TN
Posted

We are renting a home with a lease option.  I will only accept a certain credit score or higher.  Can I state in the advertisements for the house that they must have a certain score or higher? 

Most Popular Reply

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Aron D.
  • Rental Property Investor
  • San Diego, CA
65
Votes |
89
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Aron D.
  • Rental Property Investor
  • San Diego, CA
Replied

I always put the following in my rental ads to avoid people wasting my time.  "Must have 3X monthly rent in pre-tax income and a 650+ credit score"  In addition, I have the applicants pay the $30-$40 fee to have me use the following website
"https://biggerpockets.mysmartmove.com/" to screen their credit.  It takes longer to rent units, but I would rather reduce the headaches of getting someone that will either trash the place or not be able to pay.

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