Required Minimum Credit Score for Rental Applicants

[Richard Parseghian]

Hi Everyone,

I currently have a 3 bedroom unit on a side by side duplex for rent in Raritan, NJ in Somerset County (B class neighborhood). One of my required criteria for applicants are that their credit scores are at least 650.

I'm noticing the majority of inquiries I'm getting are from people who have credit scores between 600-640. This tells me that either my pre-screening criteria is doing a great job narrowing my pool to quality tenants or that my requirement is to high. (Note I have only had the unit listed for just under 2 weeks and the fact that it's the dead of winter isn't helping)

I was hoping other investors may be able to provide some insight into the typical credit score you would require on a multifamily property in a B class neighborhood of NJ. 

Thanks for your help.