Potential tenant with a recent late payment

[Carlos Romano]

Hey All, 

Without going into too much detail about a potential tenant, i'm wondering how to evaluate the reaseon a recent (July 2023) late payment for an applicant. 

The combined applicants (2 adults) have 4.7x rent, some normal debts (student loans, car loan, a cc or two) but my concern is that one of the parties has a late payment on a travel trailer reported July 2023. This party is also the weaker of the two on credit and DTI.

Is there a standard practice for asking the tenant about this? Overall I think i'm fine to accept their applications, but I want to get some details on this late payment as its super recent. 

Thanks in advance!