Ok I have had it with applicants pretending, lying, confused, lying about their credit. Collections?? What is that? Now part of the online application process is they have to submit their free credit karma score. We still reguire the credit report to be pulled, but if you have a 477 score dont waste my time. Any drawbacks? --108.20.xxx.xxx

If/when they have a breach they could argue that you were the only reason they created an account and are therefore responsible for the consequences. --24.20.xxx.xxx

The credit score seems to be a moving target. Today 500 tomorrow 475. How would they know their credit score? How about know your credit score before you call me, must me over 477 to obtain application. --99.203.xx.xxx

One downside is some people might be turned off and move on to look at someone else's unit with less hoops to jump through. And possibly not just the ones with bad scores. --72.188.xxx.xxx

They don't have the opportunity to lie to me about their credit score, because I pull it myself. --74.37.xx.xx

For a c-class shack a score below 500 will be a long term tenant until they fall farther behind. --76.188.xxx.xx

I put little credibility in credit scores. I do tell applicants below 650 will need some serious explaining. Probably only 5% will fill out an application if their score is in the low 600’s or less. This saves me and the applicant time . --75.22.xx.xx

The smart ones will bring it up on their own if they know it's going to be a problem in their situation. They don't want to waste their time and money. --72.188.xxx.xxx

Now 37% of people rent something. The average credit score out there is around 673. For my "C" apartments I want 700 or better. For my "B" apartments I want 720 or better. For my "A" single family homes I want 750 or better. --47.156.xx.xx

I pull a lot of credit reports. So I know anything under 580 is crap. The one thing we dont want is collections, that always brings the score below 580. There are so many that meet the 3xs rent income requirements, but dont pay their bills. It may be because they just got a good job or they have a lot of debit even with good income because they are living beyond their means.In a lot of cases, they past all other screening except the collections debit and that is a deal breaker for me. Because actions speak louder than words and the best tenants care about their good credit and will not risk eviction. Its just such a waste of time when it get to the point of pulling the credit report and they disqualify. --108.20.xxx.xxx

Credit scores are impacted by more than just paying your bills on time. All of my tenants are young recent college grads some with multiple degrees. If their student loans are currently deferred the debt doesn't count towards their score or DTI. I always look at when the deferment period ends to determine their adjusted DTI and ensure their rent will not exceed our 4x rent requirement. --98.121.xxx.xxx

I have only rejected one outright because of credit, though. He had hundreds of thousands of dollars in studente loans, and was working as a landscaper. For that amount of debt I should have been calling him, "Doctor!" Doesn't show a very good head for thinking ahead or managing money. --50.82.xxx.xx

--96.40.xx.xx

--96.40.xx.xx