Should i consider a potential tenant with following facts

Credit score far lesser what they had stated (500 which was dropped from 700 they say due to student loan)
New job so no supporting paystubs.
I do have the employment offer letter, but is that enough? What can i even verify using that?
No cosigner and the tenant is reluctant to share bank statements.

As a landlord im bit desperate too and do see some red flags. But like the kid overall and he feels genuine! Help

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Be very careful.
Not even willing to share the bank statements without a co-signer 🚩🚩🚩

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Not willing to share bank statements is the biggest red flag. That’s an easy one

Too many red flags. I rather have an empty apartment than have to deal with an eviction

likehelpful

Uh no, you need to keep looking. Don’t get someone in that you’ll likely have to evict later.

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IMO too many red flags. But also a word of advice. You need to set acceptance criteria if income, credit score, etc. The second you start bettering with yourself on what you should accept, you run in to potential problems in any unforeseen legal battle with a tenant or applicant.
Just as a template, I always look for 3x rent as income with proof, whether it’s a pay stub or offer letter. Bank statements can be too easily fudged and I can always call an employer if I need to.
And for me, sub-600 credit score is a big no go.

likesmart

I would wait for the right tenant. This is throwing too many red flags especially with them attempting to conceal their bank statements. In the past I have been tempted to go with initial applicants that had some red flags but had a good story as to why and seemed nice. however, I’ve always found by waiting a bit longer I get much more solid tenants- and one of my rules is if someone lies about something (application and background check/credit report don’t match) they are out. This seems along those lines.

Overall, consider you may be desperate now for a tenant, but how would you feel if you’re dealing with an eviction in a few months- that risk to me wouldn’t be worth taking the chance.

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Thank you all! Not moving forward with the candidate!

likesmart

You should be able to pull a credit report to see if that’s true. You can also call their job to verify their employment potentially. Why can’t they get a co-signor? At least check a few of the red flags before committing.

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A 200 point drop because of student loans?What, complete default? Not sharing bank statements is sketchy as well when they have no current source of income.

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I would reject that app. Either they have no awareness of their credit score (bad sign) or they are lying (even worse). Their new job also could have a probationary period, so it may not be as solid as it seems.

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Feelings count for something. I had a prospective tenant who had miserable credit scores, among other issues. What I made clear to her was that she needed to be fully honest with me, that I was going to run a thorough background check and any variation between the background check and what she tells me would be an automatic disqualification.

She was honest with me and the background check bore that out. I rented to her and she was a very good tenant for six years. I guess it comes down to the old Ronald Reagan thing, trust but verify.

Curious why you feel desperate right now

No. I had a tenant with similar situation. It didn't end pretty.

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