No way. Bad credit report, overdrawn cards, self-employed? All are issues and not what I would want for my tenent.

If you must rent it to him, make sure he has a parent or someone else co-rent, take the max security deposit allowable, second year contingent on on-time payments the first year.

Yes get the parents to co-sign.

Anonymous wrote:Op here. The tenant screening is from SmartMove. They do provide a credit report and it shows a couple maxed out unpaid credit cards and other balances exceeding limits, but the person does pay on time the few accounts that he does pay on. He is a mid-20s young professional and past rent history is living with parents.

What specifically would you ask for to prove income?

If he's never rented before, no way. Next.

His SELF REPORTED income says he can afford it? Get a landlord reference Jesus.

Anonymous wrote:

Anonymous wrote:Op here. The tenant screening is from SmartMove. They do provide a credit report and it shows a couple maxed out unpaid credit cards and other balances exceeding limits, but the person does pay on time the few accounts that he does pay on. He is a mid-20s young professional and past rent history is living with parents.

What specifically would you ask for to prove income?

Three months of pay stubs.

If he can pay first, last, and deposit, and if he agrees to direct deposit, then I think that limits your risk somewhat.

He has a small business and I wouldn’t think he has pay stubs. How does a business owner prove income like what documentation could be provided?

Anonymous wrote:Op here. The tenant screening is from SmartMove. They do provide a credit report and it shows a couple maxed out unpaid credit cards and other balances exceeding limits, but the person does pay on time the few accounts that he does pay on. He is a mid-20s young professional and past rent history is living with parents.

What specifically would you ask for to prove income?

Three months of pay stubs.

If he can pay first, last, and deposit, and if he agrees to direct deposit, then I think that limits your risk somewhat.

Anonymous wrote:Op here. The tenant screening is from SmartMove. They do provide a credit report and it shows a couple maxed out unpaid credit cards and other balances exceeding limits, but the person does pay on time the few accounts that he does pay on. He is a mid-20s young professional and past rent history is living with parents.

What specifically would you ask for to prove income?

I would say his parents needs to co-sign the lease.

Op here. The tenant screening is from SmartMove. They do provide a credit report and it shows a couple maxed out unpaid credit cards and other balances exceeding limits, but the person does pay on time the few accounts that he does pay on. He is a mid-20s young professional and past rent history is living with parents.

What specifically would you ask for to prove income?

And FWIW, most non-upper income earners I know have had all sorts of credit issues post-divorce thanks to jerk husbands who emptied out their checking and savings accounts, or promised to cover certain expenses and then didn't, which resulted in late payments and other problems. The women with enough money of their own to cover the ex-husband's jerk actions were just lucky to have the cash.

It's hard to believe that people would even use a credit agency to screen a renter. This tells you very little about what's relevant to you, which I presume is getting your rent check each month. What do you care about whether she went over her limit on that Home Depot card? Or that she had a dispute with Bank of America over something? What matters is the steadiness and size of a person's income and their past behavior with prior landlords.

Are you running a halfway house or a business? If you really
like him, but remember he's not your friend, ask for a year of rent upfront or have him kick rocks. Ignore the red flags at your peril.

Anonymous wrote:

Anonymous wrote:Recency of a balance overlimit on a bankcard account
Bankcard account balances are too high in proportion to credit limits
Too many serious derogatory items

Those sound like generic credit report bullet points when there isn't anything worse to say. What did his prior landlord say about his payment history?

Same. The only thing that would really worry me is the derogatory items. What are those for and how recent? Since the credit agencies aren't transparent about their criteria for account balances and limits, I put no stock at all in their opinion about it...

No, find someone else unless you can verify income and rent history

Anonymous wrote:Recency of a balance overlimit on a bankcard account
Bankcard account balances are too high in proportion to credit limits
Too many serious derogatory items

Those sound like generic credit report bullet points when there isn't anything worse to say. What did his prior landlord say about his payment history?

My rental home in Virginia needs a new tenant, and I thought I found the perfect one. The place has unique features that align well with this prospective tenant's needs (partially furnished, timing is exact right, etc.) and so far all of our interactions have not led me to believe there would be any issues... Until he filled out our tenant screening application, and now I'm very hesitant. The report suggested not to accept this tenant, saying:
Recency of a balance overlimit on a bankcard account
Bankcard account balances are too high in proportion to credit limits
Too many serious derogatory items

This person is self-employed and reports an income that would be fine for the rent price. I don't have anyone else lined up for this unit. What could I request he provide as proof of income? If you would absolutely not rent to him, how would you word your message informing him? Also I feel bad he paid the tenant screening application fee and now probably will be told he's not accepted. What would you do?