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Screening tenant

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dai

Joined: 25 May 2008
dai's page
Posts: 1

263 Magic Points

Subject: Screening tenant

Sun May 25, 2008 5:00 am

Hi,
what score should be OK accept tenant you think ?

Also anybody knows on Experian report where is FICO located, I just recieved 5 of 7 pages, so probably guy didn't want to show me his score which could be on last pages..

Tx all
Dai

cbass1017

Joined: 01 Feb 2008
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Posts: 143
Location: PA

1528 Magic Points

Mon May 26, 2008 1:28 am

Sorry Dai but your credit score doesn't show on your actual credit report. You usually have to pay an additional fee to get your FICO score. I think that you should be more concerned with what is showing on the report itself as apposed to worrying about what his/her actual score is. I would say that it's OK if someone has had multiple late payments in the past as long as everything else is showing paid and current now. I also wouldn't trust anyone who has let things like utilities go to collections. It's one thing if you're having trouble paying your credit card bills but for someone to let their fuel or electic go unpaid for so long that they turn you into collections, thats not a good sign. Especially with the fact that all gas and electric companies are very good about working out payment arrangements with you as along as you contact them and explain why your currently behind.

Its just my opinion but I hope it helps. Good luck!
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scott

Joined: 28 Jun 2006
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Posts: 446

10878 Magic Points

Mon May 26, 2008 11:50 am

I think cbass is correct. Your credit report shows only your credit history and your personal details. It shows how prompt you are in paying back loans and the number of times you applied for a credit, late payments and your outstanding debts. Moreover bankruptcies and hard inquiries also remain on your credit report. But credit report does not show the FICO scores. Moreover, I too think that FICO scores is not essential to decide whether you will accept the tenant or not as payment history will describe him more efficiently. If I were you and if the utility bill payments of the to-be-tenant as shown in the credit report was OK, I would have accepted him.
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Mary

Joined: 06 Jul 2006
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Posts: 686

17396 Magic Points

Mon May 26, 2008 11:58 am

FICO scores does not appear in the credit report, but you can always find the credit history of your tenant from the report. cbass is correct in the sense that if utility bills are outstanding on the credit report then you should avoid the tenant, else if the bills are not outstanding I don't find any reason to avoid him.
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goodnatured

Joined: 03 Nov 2007
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Posts: 3927

10 Magic Points

Mon May 26, 2008 1:09 pm

I think the last few pages are just the inquiries aren't they, I know when I pull my report that is what is on the last few pages.
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Guest

Wed May 28, 2008 6:28 am

Tx, all guys for info
This person has annually $100-200 collection on credit cards for last 4 years, though no for utilities, now all closed, so could be just neglect/forget.
I still didn't choose him, as he makes $35K gross and did not give me any info about his 25yo son/co-tenant. My 1br here in CA cost 1500/month. another couple for my 1500/month 1 bedroom.

Tx again
Dai

goodnatured

Joined: 03 Nov 2007
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Posts: 3927

10 Magic Points

Thu Jun 12, 2008 1:16 am

Not sure what you are talking about guest, could you be more specific about what the issue is? What does this have to do what we have been talking about? Please explain.
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carol

Joined: 27 Jun 2006
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Posts: 1307
Location: Los Angeles, California

29555 Magic Points

Thu Jun 12, 2008 9:20 am

Hi guest
I cannot understand what you are talking about. Please explain it in more detail.
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Carol

Morningstar

Joined: 17 Apr 2007
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Posts: 582

11 Magic Points

Thu Jun 12, 2008 11:51 am

OP did not rent to the original individual in question. He/she will rent to someone else.

OP probably made a good decision...if the applicant grosses
$35k/yr, he is probably taking home less than $1900/month, and the rent is $1500/month. Not ideal.
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goodnatured

Joined: 03 Nov 2007
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Posts: 3927

10 Magic Points

Thu Jun 19, 2008 2:44 am

sounds like you made the right decision.
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goodnatured

Joined: 03 Nov 2007
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Posts: 3927

10 Magic Points

Sat Jun 21, 2008 3:36 pm

yes marlo
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erb1953

Joined: 31 Dec 2007
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Posts: 573

-53 Magic Points

Sun Jul 20, 2008 2:05 am

I probably would have passed up on the first one too, with the price of everything like food and gas, could they really afford the rent. I think you made the right choice.

fireyone

Joined: 26 Feb 2008
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Posts: 4285

127 Magic Points

Mon Jul 28, 2008 2:18 pm

I can't see rent being half your monthly income. After paying the rest of your bills,grocery and gas that would leave a person more than broke. I would believe the person made a wise decision.

JPolito830

Joined: 21 Jul 2008
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Posts: 26
Location: Richmond, VA

908 Magic Points

Mon Jul 28, 2008 3:42 pm

I def. think you made the right decision here. I would have done the same thing!
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fireyone

Joined: 26 Feb 2008
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Posts: 4285

127 Magic Points

Wed Jul 30, 2008 12:49 pm

I would ikmagine that rentikng could really be a headache. My sister was having trouble selling her house so she decided to rent it while it was up for sale. I know the headaches she had. I wouldn't want them but I am sure this could be a way to make extra cash.

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