Screening Criteria - Your thoughts?

[Ricardo R.]

Hi all, I am in the midst of revising my rental criteria and just want to see what you all thought about my criteria below in regards to income and credit scores, your thoughts?

1. Applicant(s) has verifiable combined income of at least 2.5 times the rent amount.
2. Applicant(s) has verifiable combined credit score average of at least 600
3. Applicant(s) has verifiable combined income of at least 3 times the rent amount if credit score does not meet criteria but is at least 550 combined average
4. Applicant(s) has verifiable credit score of at least 700 if combined income does not meet income criteria but is at least 2 times the rent amount
5. Applicant is able to provide a co-signer which meets verifiable criteria, if applicant is unable to meet the credit score or income requirements.

Any input would be greatly appreciated. 

Alex