How do I evaluate multiple tenants

[Chad Franich]

Greetings. We’ve recently rehabbed a 3 bedroom house and have listed it for rent. I have several people that have applied and when running their credit reports sometimes say a married couple ( the husband has decent credit of 620 but the wife only has a 504. How do you analyze this? 

And another scenario: husband works with a 527 score; wife doesn’t work and similar score but they have someone who plans to move in with them that works and has a 650 score. 

How should I evaluate this?

Thanks

[Elizabeth Nurnberger]

Hi Chad.  @John Warren had some good points.  I too would lean towards renting to only a couple vs a couple plus another tenant, there seems to be more risk potential with the added person.  Another thing to consider is, evaluating more of the background check vs just the credit scores.  I tend to focus much more on references, job history, payment history and income to rent ratio than the credit score.  Any eviction history is an automatic denial.  I've used RentPrep for background checks (they do job history, credit, eviction, criminal search, call prior landlords, etc) for a few years and have been very pleased with their service.  I'd highly recommend actually calling the prior landlords.  I had an applicant look good on paper, but the prior landlord said she was a pain to deal with and while always paid, just simply didn't follow the property rules, was rude, etc.  Good luck, that is  great you already have several people interested in your property!