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Updated almost 7 years ago, 02/14/2018

User Stats

221
Posts
78
Votes
Jeff T.
  • Rental Property Investor
  • Culver City, CA
78
Votes |
221
Posts

Property Manager refuses to pull FICO Credit Scores?

Jeff T.
  • Rental Property Investor
  • Culver City, CA
Posted

I asked my PM to provide actual credit scores instead of just the credit history. I have a hard time deciphering various delinquent accounts etc..  and just want a Credit Score to evaluate a tenant.

The PM reply is below. Any thoughts about this?

"We chose not to get FICO credit scores when we employed a credit bureau and use a debt to credit ratio. The cost with FICO scores is much higher. My former Broker did not use FICO scores. We would have to increase our application fees and sign a new agreement with the credit bureau. None of our other owners have required FICO scores. I would estimate application fees increasing from $35 per adult to $55-$60. I don’t wish to be difficult, but I’m not sure FICO scores are feasible for these reasons. Our application fees need to be in line with those other property management companies charge."

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