All Forum Posts by: Dorys Prentice

@Russell Brazil   I'm using the screening process at apartments.com which uses Transunion's Smartmove which only gives a resident score so I am unable to get the actual FICO score with service.  But more importantly, as I've read in many forum threads, FICO score alone is not the only indicator of a financially responsible person.  I'm just wondering how these people are considered a "low risk" when it looks like they've had over $50K in written off bad debt.  

I have a family applying for my rental and I just received their credit information.  The husband has a 711 "resident score" from Transunion, but he has 4 collections, mostly credit cards, 2 as recent as 7/2021 and 2 from 2019.  He also has what I see as very large write offs:

PRL - Profit and loss write-off for $51,491.00 from 3/31/2020

PRL - Profit and loss write-off for $43,777.00 from 1/31/2020 

The wife has several 90, 60 and 30 past due on credit cards, as well as, the above PRLs.  Her resident score is 608.

How can Smartmove recommend these folks as low risk or am I missing something and how can their score be so high with the recent collections and write offs.?

I have a family applying for my rental and I just received their credit information.  The husband has a 711 "resident score" from Transunion, but he has 4 collections, mostly credit cards, 2 as recent as 7/2021 and 2 from 2019.  He also has what I see as very large write offs:

PRL - Profit and loss write-off for $51,491.00 from 3/31/2020

PRL - Profit and loss write-off for $43,777.00 from 1/31/2020 

The wife has several 90, 60 and 30 past due on credit cards, as well as, the above PRLs.  Her resident score is 608.

How can Smartmove recommend these folks as low risk or am I missing something and how can their score be so high with the recent collections and write offs.?

Absolutely!  My requirement for this is what prompted him to say that only he and his store manager would be applying.  

@Linda S. - I stress about everything.  LOL.  This is not about race, but there are folks who make everything about race, to their advantage, so I want to make sure all my T's are crossed.  

There is always great conversation on these posts, some relevant, some not, but all informational.  

Just to update my situation, apparently he is planning on living in the place himself. It wasn't clear when I met him and maybe my fault that I didn't ask the right questions.  I feel so intrusive when I ask questions but I need to get over that quickly. Yes, he does plan on having non-related people move in so I'm still checking with local ordinances and my insurance about how many non-related people will be covered. 

I am currently using for marketing, Apartments.com, Zillow and Avail.co.  I've had about the same amount of inquiries from all three.  I've had very very few people be able to pass my pre-qual screening questions, however, once I get an applicant that passes the pre-screening, I send them to the apartments.com for the credit/background check.

This is my first public rental so I don't have a huge amount of experience.  I may use Apartments.com to collect monthly rent. I will use the Realtor lease agreement form for my state so it looks like I'll be meeting folks personally so they have to wet sign.

@Marian Smith - best advice yet.  All non-related applicants must qualify individually.  I've had other applicants that only one qualified but they refused to send me bank statements or tax returns as they were self employed so they moved on.  

As for zoning, the city ordinance only identifies boarding houses as homes with 3 or more non-related individuals with separate lease agreements.  Since all would be on one agreement, I don't think this qualifies.  I need to also check my insurance.  

@Russell Brazil - When I asked him if he and his wife and kids were moving in he said no, it would be for 4-5 employees.  When I told him that all of them need to do a credit/background check, and after some argument as to why I require that, he then said it would just be him and and his store manager.  I guess I forgot to add the initial question of  "are you and your wife and kids are moving in?" to the initial post.    So maybe, he didn't lie, but he sure changed who was going to move in quickly.