Rent to Low income/credit + collection with good cosigner?

[Suduk N.]

My garden unit has been on the market for 2,3 months with only 2 applications so far. The demand has been tepid during this time according to my PM. I have a single mom with 2 kids applicant whose income is barely 2x rent but can provide a good credit score with good income although they are friends not family. She also has low credit score of 500 and a collection for medical bill. 

How is everyone doing in Chicago market during this time? I normally would reject this type of applicant because they don't meet my criteria but the market has not been so good and winter is coming so I may sit on an empty unit for months. What would you guys do in this case?

[John Warren]

@Suduk N. if you are getting low amounts of interest I would look at your price and also where you are marketing the unit. If the unit is more expensive, I would look at maybe putting it on the MLS. If you are under $1200 per month then most likely your issue is price. Under no circumstances would I take a tenant that I was not comfortable with that didn't meet the minimum criteria. That isn't fair to other tenants and it is definitely not fair to yourself as this tenant will not likely be successful.