Skip to Content

Looking Beyond the Credit Score for Great Maize Tenants

Tenant Signing a Lease for a Maize Rental HomeDetermining a dependable tenant is one of the most vital components of having a marketable Maize rental home.

For some landowners, the “right tenant” is somebody with an almost faultless credit score. They create their tenant approval choices based on the concept that a good credit history is an assurance of a financially stable future. While credit scores are important, they don’t tell the whole story. A landowner might decline an otherwise impressive tenant if excessive importance is based on their credit score. Understanding the other parts to look for when screening applicants can aid you in finding excellent tenants straightaway.

When screening rental applicants, property owners are right to want to know more about the tenant’s financial situation. A credit report can say a lot about past basic credit score, evidence that an owner can use to decide whether or not the tenant is likely to make their rental payments in full and on time. One example, late payments on an account that is now current can bring a credit score down but also shows the applicant is now paying their bills on time.

While former vehicle repossession or a credit card charge-off is a dealbreaker for the majority of property owners, it is vital to not lose sight that many people were ruined several years ago due to the Great Recession. Though they’re not to blame about this, they may have lost their livelihood or households, but have since found secure jobs and retained their credit invoices as well. Or, perchance a previous medical emergency forced the applicant to fall behind on their medical expenses or student loan payments, but they’ve made amazing financial choices later on. In these events, the score might be a less essential consideration than the tenant’s payment history over time. A few misjudgments several years ago should not preclude an otherwise solid applicant.

To see the full picture, it’s pivotal to assemble details from the applicant that is not on the credit report itself. If the prospective tenant has a good cause for their lower credit score, like those listed above, that may be a motive to keep them under consideration. Likewise, property landholders should always supplement an applicant’s credit report with references that can uphold their reputation. If an applicant has a strong history of paying rent on time and a stable income, these factors may be better indicators of how they would do as a tenant than numbers on a credit report.

Tenant screening can be a difficult undertaking, notably for single-family rental homes in Maize. Property owners, in general, want someone who will be a stable, long-term tenant, making the decision an even more serious one. At Real Property Management First Choice, we perform thorough screening on every candidate, from credit reports and beyond. Our property management experts know what to follow, and how to find the right tenant for every rental property we oversee. If you would like to know more about our screening process or would like to speak to someone, please contact us online or by phone at 479-242-0791.

We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.

The Neighborly Done Right Promise

The Neighborly Done Right Promise ® delivered by Real Property Management, a proud Neighborly company

When it comes to finding the right property manager for your investment property, you want to know that they stand behind their work and get the job done right – the first time. At Real Property Management we have the expertise, technology, and systems to manage your property the right way. We work hard to optimize your return on investment while preserving your asset and giving you peace of mind. Our highly trained and skilled team works hard so you can be sure your property's management will be Done Right.

Canada excluded. Services performed by independently owned and operated franchises.

See Full Details