Question on credit requirements for tenants

[Damien L.]

Hey guys,

I'm going through my very first applications.  We set our credit score standard to 600 and above.  In a case of husband and wife for example, do you require them both to have a score of 600 and above?  Or is one of them enough?  We would require them both to fill out the application of course.

Thanks for the help!

[Carson McFadden]

I also take credit into account when screening tenants, however, a high score does not always guarantee a high quality tenant.

I suggest creating a scoring system and using that for EVERY applicant. A strong scoring system that you use consistently can help you stay out of trouble if someone accuses you of discrimination.  

Example: credit over 700 = 5 points, 600+=3 pts under 600/no credit= 0 pts

Good landlord reference= 2 pts, bad landlord reference= -1 pts, no landlord reference=0 points and so on with income, personal references, etc...

If the tenant scores a 10+ they automatically are approved.