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theguzzie

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Posts: 1
Reply with quote  #1 
Hello!

My wife and I are renting our house. We got our first applicants who we have questions about. Family of 6 with the husband only employed. He makes $9000/month. Rental is going for $2200/month. He has great income but has multiple revolving accounts open, 15 to be exact. Total balance is just over $25000. They also have 8 installment accounts open. Their debt to income ratio is 54%, factoring in monthly rent. They have had no late payments on anything (bills/rent). No evictions also. Would you think they would be good tenants?

Thanks!
AccidentalRental

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Posts: 184
Reply with quote  #2 
If their debt service is 54% of their income that is pushing it but I think their history shows it's not a problem.  What did the credit agency rate them?  Above 670 FICO or Vantage Score would be ok for me but you have to make your own call. 

Max the Security Deposit if you want more safety.  Check with previous landlords and local court records to make sure no evictions were started.  These screening services don't report nearly the number of judgments and evictions they used to because of a new agreement last year.

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