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Updated almost 6 years ago on . Most recent reply

User Stats

71
Posts
29
Votes
Chris Bingham
  • Investor
  • Sandy, UT
29
Votes |
71
Posts

Dangers of renting to someone with poor credit?

Chris Bingham
  • Investor
  • Sandy, UT
Posted

I'm considering renting a spot to an applicant with very poor credit. To offset the risk of the tenant potentially not paying rent I am considering a deposit that is more than 2X their monthly rent and only offering a month to month lease. In my state the eviction process is pretty quick should I need to use it. What else would you consider in a situation like this?

Most Popular Reply

User Stats

179
Posts
92
Votes
Alex Smith
  • Property Manager
  • Chattanooga, TN
92
Votes |
179
Posts
Alex Smith
  • Property Manager
  • Chattanooga, TN
Replied

Why is their credit score low, are you able to see that? 

Starting off month to month is a good idea, and also taking the higher deposit. I'm interested to see what other folks have to say. 

How long does the eviction process take in your state? Is this UT you're talking about? 

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