Need help finding a tenant in Philly

[Erica Gordon]

Hey bigger pockets community, 

I’m having a bit of a dilemma. I have been searching for a quality tenant since January.

(If you do not want to read this entire post, please scroll down to my questions at the bottom labeled “These are my main questions”.)

Firstly,I am new to this process! I am renting a newly renovated, 2 bedroom, 2nd floor unit in the North Philadelphia area. I have promoted the unit on multiple sites, with Zillow being the most useful. 

The problems I keep coming across include: “no call, no show”, bad credit, fake paystubs, etc. The winter time was pretty slow (as expected), and inquiries have picked up since spring has begun (also expected).. but I am still running into the same issues. I am getting more inquiries but not more viewings. Most people will contact me very interested, some even submit applications, but do not show up for the viewing or respond when I reach out to them. 

I have gotten to the point where I have began contacting management agencies, but guess what!? Even they suck at responding! 

I’ve also had situations where the applicant would show up for the viewing and submit an application, but because I have not considered them because of their credit score and they do not make 3x the rent. This makes me wonder are my qualifications/ standards too high for the area I am renting in..?

Well here I am.. back on bigger pockets, hoping that someone here will be the answer to my prayers.

These are my main questions:

• If the applicant’s background check and eviction record are both clear, should I still hold the credit score so highly? Especially in the North Philadelphia area? 

• Any pointers on screening tenants as a private landlord? Would you decrease your qualification standards for a C class area? 

• Can you refer a Philadelphia based agent or property management company to assist me in finding a quality tenant? 

Please leave a reply if you have useful information to share.

Thank you for reading! 

[Kevin M.]

Your standards are likely too high. If a person has high credit, stable income, and a significant down payment ready then they are buyers not renters. 

Technically you can’t have a credit score minimum requirement in Philadelphia. If the prospect has solid income, rental payment history, clean eviction record, and 3x rent down payment saved, You’re looking at a 95% success rate regardless of credit score.