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Updated about 6 years ago, 10/15/2018
Minimum Qualifications what are your standards
I just bought an out of town duplex (1 1/2 hours away). I’m in the process of advertising and listed in a local Facebook buy sell and trade. I was getting a lot of inquiries and I would say about 90% who don’t even qualify— bad credit, asking if I will work with them on the deposit... etc. So I decided to try just listing minimum qualifications with the listing as to weed out those who don’t qualify in the first place. Next thing I know I’m being shamed by multiple commentators for having to “steep” criteria and I’m contributing to homelessness in the area and it’s discriminatory criteria . 🙄
I feel they are pretty standard for the market:
Applicant must have current photo identification and a valid social security number.
Applicant's monthly household income must exceed three times the rent.
Applicants must receive positive references from all previous landlords for the previous 5 years.
Applicant may not have any evictions or unpaid judgments from previous landlords.
Applicant must exhibit a responsible financial life. Credit score must be a minimum of 600.
A background check will be conducted on all applicants over 18. Applicant’s background must exhibit a pattern of responsibility.
Applicant must be a non-smoker
Is this being unreasonable? I am new to the market but from most options especially those managed by a PM company are comparable to what my criteria is.