What's the lowest credit score you will allow?

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Take stock of your current credit score and accounts.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

On the flip side, if you've got a bunch of Section 8 tenants living in a building that's in a neighborhood where a lot of the tenant base has good jobs, high credit scores, and are generally reliable people, you've got the most risky tenants in that tenant base and that ain't what ya want.

I don't take a credit score as a reliable metric in my market.

I require a high credit score 680+ and two prior landlord references.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

In our opinion, Class C tenants have FICO scores from 550 to 600 - where their chance of default/nonpayment is 15-22%.