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Tenant Credit Score is Easily the Best Indicator of Tenant Quality: Here’s Why

I know many landlords, and despite my success at screening and selecting tenants, they often think somehow their property is different from mine. They do not think they can use the tenant credit score as a reliable indicator. They are ignoring tenant credit score to their own peril. The fact is, tenant credit score is the …

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Risk of Tenants with Low Credit Score Explained

I wanted to expand on the credit score criteria in any Tenant Screening Requirements just a bit. It is a fact that lower credit score individuals are a high risk to insurance companies, and for collecting payments. It is a fact that lower credit score individuals engage in riskier behaviors. Here is why tenants with …

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Why Avoid Tenants with Credit Scores Below 600?

The fact is, about 85% of America has a credit score above 600.  At 600, you start to get below a 50% default rate on mortgages, and an even higher default on rents.  Remember, you are not looking for an average renter for your quality unit; you want a quality renter for your quality unit.

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Tenants Credit Score and Income – What do they mean?

Remember, it takes both a decent credit score, and an income high enough to pay rent to approve a prospective tenant.  Never accept less.  You need to know both the tenants credit score and income level before you approve them. A renters income will give you the renter’s ability to pay rent.  Their credit score will give …

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Why is my Renters Credit Score different?

The difference in a renters credit score, and the one you get is this.  Many background check companies, such as mcccgrp.com, use a true FICO score, developed by Fair Isaac Corporation (FICO).   If you are gong to be a successful landlord, you need to understand the relationship between tenant performance and credit score.

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How to Use Credit Checks For Screening Renters

This post will tell you how to use credit checks for screening renters. Why do we care about Credit Records and Credit Score? A credit is score is an indicator of the probability of a default, nothing more. It will show if the person has been responsible with their finances. If a person is responsible …

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Landlords and the CoronaVirus

Many investors have emailed me to wonder what I am doing about the CoronaVirus.  That is what the topic is in this post, Landlords and the CoronaVirus. The Minnesota State Governor has declared a moratorium on evictions, and the State Attorney General says he will prosecute any landlord that attempts an eviction. Meanwhile property taxes …

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Dealing with Domestic Violence in a Rental

This article will likely offend a few people, but since I have never been one to limit my posts to only the non-offensive topics, here goes.  If you have rentals, you will likely have a problem with domestic violence at one time or another.  Especially if you take in low credit score tenants.  Here is …

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