Hi everyone! I'm new to the community and just recieved my first application for our rental property in upstate ny! We're trying to best screen the applicants and my original standard was 3x monthly income and credit scores of 650+.
I recieved my first applicant which is a group of 3 (couple and their sister). Total annual income for all applicants meets the 3X requirement but the credit scores are 700, 595, and 545.
So far, we've followed up with the current landlord and they have stated that rent has been paid on time for the couple. The couple's current rent is similar to ours The sister is has no rental history due to a recent divorce.
We're torn given 2 out of the 3 people have lower credit scores and it's not a family moving in. How would you all think about this?
What other steps would you take to see if it makes sense to relax the rental criteria?
thanks!
