Kevin talks about performing credit checks on potential tenants. We check on loans, debt to income ratios, collections, judgments, etc. We also check criminal and eviction history.

Not all property managers pull credit. Some will have a tenant pull up generic credit scores online, and then hand it over to the property manager. Some managers don’t do any type of credit check, even though they collect an application fee.

There are many simple things you can do outside of a basic credit score when screening tenants. Contact banks if a tenant allows you to, see if they’re using grace periods. Ask if they ever use “skip payment” options. Those could be red flags that won’t show up on a credit report.

Posted by: Colorado Springs Group on March 3, 2017
Posted in: Uncategorized