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All Forum Posts by: Manoj N.

Manoj N. has started 20 posts and replied 64 times.

Post: When to ask the tenant to leave ?

Manoj N.Posted
  • Louisville, CO
  • Posts 64
  • Votes 4

I have a tenant who stayed in my property for more than a year paying rents before 5th of every month. She is due for 1/3rd of November rent and full December rent now. She wants more time (did not give a definite date) citing an issue with her clients not paying. Her lease ends on May 31 2017. I am in dilemma whether to ask her to leave the house or give her more time.  Any thoughts ? Thanks

Post: Tenant does not have a credit history

Manoj N.Posted
  • Louisville, CO
  • Posts 64
  • Votes 4

Hello Michael, my income requirement is 3x the rental cost and she met that requirement.

Post: Tenant does not have a credit history

Manoj N.Posted
  • Louisville, CO
  • Posts 64
  • Votes 4

Thanks everyone for your inputs. Her past 2 landlords and employers gave good feedback on her.  No criminal or eviction histories. Also she came across as a decent person when I interviewed her. So I am leaning towards approving her application. 

Post: Tenant does not have a credit history

Manoj N.Posted
  • Louisville, CO
  • Posts 64
  • Votes 4

Thanks Jd. Could we request a tenant to provide complete credit report ? The service (e-renter) I use only provide a binary result based on a set criteria I set. In this case I set it as "C" which requires a minimum of 621 FICO with these exceptions: Medical Collections, Paid Collections, Collections Less than $100.00, and Judgments under $500 are not used in determining a grade

Post: Tenant does not have a credit history

Manoj N.Posted
  • Louisville, CO
  • Posts 64
  • Votes 4

I am screening a tenant who is more than 40 years old. She passes criminal and eviction checks, but not credit check. My minimum FICO score is 621. The service I use just tells me whether she passes or not - nothing more than that. In the application she wrote that she never uses credit and deals with cash only. Otherwise (references etc) she is OK. Could someone live in US for a long time and still have no credit history? 

Senthil - thanks for your insights. Yes, making sure the other two tenants accept a new one is important. I also like the idea of adding lease buy out to the lease text.

Current lease by three tenants (joint and several)  ends May '17. One tenant wants to leave sooner and he offered me a deal he calls "lease buy-out". Instead of him finding a suitable replacement (which I had agreed) he offered to pay 3 months of rent (his part) if I take the responsibility to find a replacement. On one hand, I want to help him out and the extra payments will cover possible delays in finding a replacement. However, there is this hassle of finding  a tenant that pass my checks and also is acceptable to other two. Any thoughts ?

Yes. He replied that he was never evicted and the report must be a mistake - or another person.

Thanks for your thoughts. I am in touch with the County to get the full report. The applicant denied any evictions - he lived in that place two years before the eviction. I am trying to get in touch with the plaintiff - so far not successful.  A question, wouldn't eviction destroy the credit score ? 

The county requires request to be faxed. No online search possible. Applicant didn't list this city in the form. However, it does come up in the address part of the background report - meaning he had some connection with that city.