Rental Screening: 3 Unique Candidate Dilemmas

[Hilary Stalder]

Hey BP community!

We recently listed our 1/2 duplex for rent in Orlando, FL and had an open house. During the open house I got a few questions from candidates that I did not have an answer for, hoping the experience in this community can help!!

1. Income/Credit Qualifications for College Students- I had someone apply who was still in college and therefore did not have credit (minimum credit score 600) NOR were they making enough outside of school to qualify for the income requirements (3x monthly rent. of $1700). Do you allow people to co-sign with their parents even if their parents weren't living in the home? Also, will parents credit score make up for their own? I tend to think in the terms of it's who is living in the house. If they don't meet the requirements listed, they're not approved, but obviously don't want to break any rules!

2. Sales/Commission Based Salary - Second, I had a couple people who asked about income because they were sales/commission based salary. How do you qualify these people? I said if their previous year tax return proved that they made more than 3x the rent they would be fine, but do you require more deposit for these people vs. others? How do you view these positions? 

Any feedback would be greatly appreciated! Thank you!

-Hilary

[Theresa Harris]

for people co-signing (eg parent for a college student), they normally are not living in the unit.