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Re: Why rent to people with bad credit?
by Anonymous (IL)
on May 24, 2017 @11:19
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I agree credit score it not the be-all end-all. In addition to 720+ credit , I also seek a respectful and responsible demeanor. That goes a long way to making my life easy.
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Re: Why rent to people with bad credit?
by Anonymous
on May 24, 2017 @11:26
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You also have to be careful not to run afoul of any anti-discrimination statutes.
A landlord's rental criteria should be clearly spelled out and applied to everyone equally. You can get into trouble by judging someone's demeanor, because it's subjective. If you got reported for refusing to rent to someone, and they met all of your criteria, but didn't meet what you consider to acceptable demeanor?
Denied due to not having a credit score over 650. You can prove that.
Denied due to having too many delinquent accounts on credit report. You can prove that.
Denied due to not meeting the 3x income requirement. You can prove that.
Denied because they were rude, let their children run around, and chewed gum too loudly. They also happened to be non-white.
You have no way to prove that you *didn't* deny them due to their race, religion, gender, age, marital, or familial status. And you'd be in trouble.
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Re: Why rent to people with bad credit?
by Anonymous
on May 24, 2017 @12:01
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You are very correct. What happens is that when a discrimination complaint is filed, the landlord will always be on the defensive to prove they did not discriminate. The landlord will have to produce any and all records for several previous years, like leases, applications, advertisements, rental criteria, list of all rental inquiries, etc. It opens the landlord up to other issues of possible discrimination.
Insurance company's often do not cover the complete cost of defense and certainly will not be on the hook to pay damages if discrimination is found to occur. Using due diligence to avoid a discrimination charge is a necessity in today's rental market. Operating without these basics is very foolish for a landlord.
Every landlord should have written criteria for renting that's given with each application and an application should be given/offered to every interested applicant.
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