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Updated over 6 years ago on . Most recent reply

User Stats

312
Posts
349
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Kevin S.
  • Accountant
  • Tulsa, OK
349
Votes |
312
Posts

Minimum FICO score for new tenants

Kevin S.
  • Accountant
  • Tulsa, OK
Posted

So I recently had my only tenant give notice, and am about to start the search for a new one. Just wanted to poll BP for what minimum FICO scores you require for applicants, I know this can be area specific, the property in question is in what I'd consider a B area. Rents in the area for similar duplexes range from $1,200 - $1,400. I'm leaning toward a minimum of 680, but considering the time of the year I'm concerned this may limit my applicant pool too much. Let me know your thoughts, thanks!

Most Popular Reply

User Stats

1,272
Posts
930
Votes
Ray Harrell
  • Investor
  • Chicago, IL
930
Votes |
1,272
Posts
Ray Harrell
  • Investor
  • Chicago, IL
Replied

Score is not always indicative of ability or willingness to pay. A LOT of things can impact score for people who otherwise pay EVERY bill on time. It's a flawed system, even though it's widely used.

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