Who would you rent to?

[Gretchen P.]

This is purely hypothetical, I just rented four units and find that in my area, and in the type of rental I have I occasionally find perfect tenants, but there is usually some "issue", or I have a sense they may not stay long in the unit, due to location, unit size, etc. 

Hypothetical unit - $1000/month, 1bed 1bath bungalow in a blue-collar area

Hypothetical Prospective Tenants: 

Joe: needs to get out of bad roommate situation, is facing eviction due to roommate non-payment confirmed by landlord who consistently has gotten joe's half of the rent. No problems with previous landlord.

Income:  $2000/mo plus $1200 tips (he is a waiter and has been employed at the same restaurant for 3 years)

Savings: $9,500

Credit score: 685 all accounts current, late payments several years back on a credit card that is now paid off

Debt: Credit card and auto loan payments: $255

Nick and Nora - couple moving in together, both were living with relatives and have no rental history.

Income: $5800/month - he is a mechanic, she is a call-center employee both have stable employment history

Savings:  $150/$50

Credit scores: 695/455; Betty has collections and multiple late recent payments

Debt: Car payments and credit card debt $1600/mo

Tom: just finished graduate school, looking to start a new life, stable housing history, looking for a full-time job in his masters discipline, working at 2 part-time white collar jobs he has held through school.

Income: $3100

Savings: $1200

Credit score: 775, lots of debt, but pays on time. 

Debt: $58,000 college loans, $14,000 auto loan, $3800 credit card debt; total payments $1100.