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Updated over 4 years ago on . Most recent reply

User Stats

15
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7
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Cody Wray
  • New to Real Estate
  • Hernando, MS
7
Votes |
15
Posts

Must Dos when screening a tenant .

Cody Wray
  • New to Real Estate
  • Hernando, MS
Posted

I’m focusing on how to lessen the likelihood that I get a bad tenant .

What tips and tricks. Dos & donts have helped you screen tenant. Especially as an outta state investor

Most Popular Reply

User Stats

178
Posts
224
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Stewart Beal
  • Investor
  • Ann Arbor, MI
224
Votes |
178
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Stewart Beal
  • Investor
  • Ann Arbor, MI
Replied

Hi Cody, here are our rental requirements, we use AmRent screening software.

Michigan: We are looking for 600 min credit score, 3x income, no evictions, no bankruptcy within 5 years, 3x income, limited criminal/collection accounts, and a good rental reference. If you have a 0 credit score and/or no rental history we will likely require a cosigner. If you credit score is slightly below 600 but you are much stronger in other areas, most importantly rental history, we may still approve you. We reserve the right to make exceptions and we reserve the right to not approve you if you meet these requirements due to other factors discovered in the evaluation process.

Toledo: We are looking for 525 min credit score, 3x income, no evictions, no bankruptcy within 5 years, 3x income, limited criminal/collection accounts. If you have a 0 credit score and/or no rental history we will likely require a cosigner or a 1.5 month security deposit. If you credit score is slightly below 525 but you are much stronger in other areas, most importantly rental history, we may still approve you with a cosigner and/or 1.5 month security deposit. We reserve the right to make exceptions and we reserve the right to not approve you if you meet these requirements due to other factors discovered in the evaluation process.

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