Declined tenants: Your thoughts?

[Charley F.]

Hi all: This topic comes from a previous one. I want to learn as much as I can from this experience as it can provided insights for the future, and considering each experience is unique and that I am in for the long term, the more I know, the more I can minimize my risks.

I have declined a couple who wanted to rent one of my two properties. Here are what the report from trans-union and their testimony:

[b]THE HUSBAND

- Currently Unemployed

- Collecting Unemployment of $1,100 for the next 5 months

- Have 2 interviews in a big hospital in the area

- Works in the medical industry (hospital)

- Rental history checks ok

- Credit score of 631

- Installment loan of $34K, owes $24.8K and its past due for $104

- Have 4 collectionsin his records: $111 bank (2011), $59 medical (2006), $193 Verizon (2009) and $52 Electric Bill.

[/b]THE WIFE

- Currently employed. 4 months in a new job (bank)

- Credit Score of 527

- Rental checks ok (same as husband)

- Has a installment loan with a balance of $33.4K with a monthly payment of $395

- Has a loan balance $32.9K, shows as past due for $15.9K with monthly payment of $574.

- Has 11 collections: $943 Medical (2011), $284 Medical (2009), $722 Citibank (2009), $1,086 Sprint (2009), $491 Victoria Secret (2010) shows as paid, and another 6 other collections for medical that amounts for $900 (2010)

- In the trade section it also shows few other items that were "placed for collections": $45 Sprint (2011), $1,706 shows as closed by creditor grantor (2009), $4,775 Student Loan shows as unpaid balance charge off (2004), $22.1K Student Loan shows as unpaid balance charge off (2009), $1,189 Placed for collection (2010), $1,812 placed for collections (2010).

Now, I do not know if this is typical considering the state of the market and economy as I entered the business only a year back, but based on myself and people I know, this seems to be awful!. One thing is to be late, but 11 items sent to collections over the course of the past 5 years?

Is this typical?
Will anyone here enter on a rental agreement under such history?
What can I learn from this?

Please let me know your thoughts! I am honestly looking forward to learn from this experience.

[Stanley Crawford]

If I liked them I would have asked for an extra months security deposit or maybe 2 months and rented to them.