I added a Step
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I added a Step (by mapleaf18 [NY]) Jul 6, 2024 1:46 PM
       I added a Step (by NE [PA]) Jul 6, 2024 1:58 PM
       I added a Step (by GKARL [PA]) Jul 6, 2024 2:06 PM
       I added a Step (by Jason [VA]) Jul 6, 2024 2:20 PM
       I added a Step (by mapleaf18 [NY]) Jul 6, 2024 2:23 PM
       I added a Step (by 6x6 [TN]) Jul 6, 2024 4:59 PM
       I added a Step (by Jason [VA]) Jul 6, 2024 5:06 PM
       I added a Step (by 6x6 [TN]) Jul 6, 2024 5:23 PM
       I added a Step (by Sisco [MO]) Jul 6, 2024 10:30 PM
       I added a Step (by Mapleaf18 [NY]) Jul 6, 2024 10:32 PM
       I added a Step (by Mapleaf18 [NY]) Jul 6, 2024 10:34 PM
       I added a Step (by ken [NY]) Jul 6, 2024 10:39 PM
       I added a Step (by mapleaf18 [NY]) Jul 7, 2024 9:26 AM
       I added a Step (by jonny [NY]) Jul 7, 2024 9:44 AM
       I added a Step (by Oregon Woodsmoke [ID]) Jul 7, 2024 10:15 AM
       I added a Step (by BRAD 20,000 [IN]) Jul 8, 2024 12:22 AM
       I added a Step (by BRAD 20,000 [IN]) Jul 8, 2024 12:22 AM
       I added a Step (by Small potatoes [NY]) Jul 8, 2024 12:51 AM
       I added a Step (by Sisco [MO]) Jul 8, 2024 7:31 AM
       I added a Step (by Ray-N-Pa [PA]) Jul 8, 2024 11:56 AM
       I added a Step (by BRAD 20,000 [IN]) Jul 8, 2024 9:54 PM

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I added a Step (by mapleaf18 [NY]) Posted on: Jul 6, 2024 1:46 PM
Message:

I added a step to my prequal which is to upload an image of their credit score that shows their name and credit score from credit karma.

(in before: " a lot of older people can't/won't/ etc. etc." Umm I'm old and I managed to run a 911/sheriff IT system)

It's a free service and I included an example (my screenshot with fictitious name and employment)

You wouldn't believe how many people screwed it up (on purpose?) Some from an alternate credit site showing NO name (instant DQ buzzer sounds).

I had one say "is it ok to post my Experian screenshot because credit karma can't find my account" (huh?) I responded "if it shows your full name" *crickets*

Full credit, I got this tip from the "Lumberjack Landlord"

Just goes to show you that the army of bad tenants out there are getting amazingly cunning!

--64.246.xxx.xx




I added a Step (by NE [PA]) Posted on: Jul 6, 2024 1:58 PM
Message:

You still need to pull it yourself. --24.152.xxx.xx




I added a Step (by GKARL [PA]) Posted on: Jul 6, 2024 2:06 PM
Message:

I just ask them their approximate score on the pre-screener and pull the report directly if we get to the application stage. The service I use pulls credit and background. Most of the time they're DQ for other issues before credit is even considered. --209.122.xx.xxx




I added a Step (by Jason [VA]) Posted on: Jul 6, 2024 2:20 PM
Message:

Trust but verify. I can make a screenshot show my credit score is 900 haha. Just my two cents, but that seems a bit much for a pre-screen. I don't have a credit karma account, nor do I intend to and prospects may feel the same. But if it's working, then rent on. --73.147.xxx.xx




I added a Step (by mapleaf18 [NY]) Posted on: Jul 6, 2024 2:23 PM
Message:

NE, of course but that would be AFTER they pass the prequal and during the actual application process.

GKARL exactly.

Looking back at my records, I had a S8 applicant (complete with neck tattoos) state on the prequal (before I required a screenshot) that her CS was over 600. Well she failed due to bad previous LL reference and hiding her Gas and electric bill with her "well manicured finger" but she applied again for a different unit and low and behold her CS was low 500s. Now I know your CS can bounce up and down but usually no more than 13 points. These applicants are deceitful to the nines!

I like the idea of the actual screenshot with name and possibl address in the prequal. --64.246.xxx.xx




I added a Step (by 6x6 [TN]) Posted on: Jul 6, 2024 4:59 PM
Message:

So, if you reject them, due to credit, how does that work? --76.129.xxx.xx




I added a Step (by Jason [VA]) Posted on: Jul 6, 2024 5:06 PM
Message:

If they provide the report to you, thereís no obligation to provide an adverse action letter 6 --73.147.xxx.xx




I added a Step (by 6x6 [TN]) Posted on: Jul 6, 2024 5:23 PM
Message:

Thank you, Jason. --76.129.xxx.xx




I added a Step (by Sisco [MO]) Posted on: Jul 6, 2024 10:30 PM
Message:

Maple, the Iím old and canít use all of this newfangled technology is ridiculous when they have found my ad online. I had two friends who died over 10 years ago, WW2 veterans, one a retired Master Sergeant, the other an old school salesman of stair parts, millwork, and hardware. These two were in full swing of online computing by 1994.

--149.76.xxx.x




I added a Step (by Mapleaf18 [NY]) Posted on: Jul 6, 2024 10:32 PM
Message:

6x6. I introduce them to Mr. Ghost. Most of them know darn well why they don't hear back from landlords except the churn and burn types. If they are truly delusionally persistent. I tell them that NYS regulations make it impossible to take the risk of rectify to someone with a low credit score.

I've also found that people who complain about black mold tend to have low credit scores. --172.58.xxx.xxx




I added a Step (by Mapleaf18 [NY]) Posted on: Jul 6, 2024 10:34 PM
Message:

Correction: NYS regulations make it impossible to take the risk of renting to someone with a low credit score --172.58.xxx.xxx




I added a Step (by ken [NY]) Posted on: Jul 6, 2024 10:39 PM
Message:

mapleleaf, I couldnt do it and i wouldnt put in the effort, i have all i can do to get on here and bounce around the internet.If i want to buy something my wife does it,if the computer dies my wife deals with it etc --74.77.xx.xx




I added a Step (by mapleaf18 [NY]) Posted on: Jul 7, 2024 9:26 AM
Message:

Ken, I don't have a "wife" LOL. Husband does the actual rehabbing and maintenance (as long as it involves power tools--he does NOT do lawn maintenance either at our place or the tenants--that's my job). He will NOT do any paperwork, computer work, call backs, etc. Anything that is considered "office work" he does not do.

I am also responsible for interior/exterior painting, caulking and minor repairs that husband delegates to me. I have my own chain saw and tools in two tool bags.

--64.246.xxx.xx




I added a Step (by jonny [NY]) Posted on: Jul 7, 2024 9:44 AM
Message:

I don't even LOOK or want their credit score. I know Zillow loves to provide what they (the tenant) inputs but who cares? They can say or input whatever they want. If you base solely on that you could lose for sure. Also, what's the point of them "proving it"? I've had some really good tenants that their scores (per them) were horrible and I've had some bad tenants that their scores (proven) were "excellent". Just because someone pays their bills or has "great credit" doesn't make them an ideal tenant for sure.

Be careful mapleaf... if you have them pull their own credit report... in NYS they can HAND (provide) that to you and they don't have to pay for it (your charge/fee, etc). I don't know if you can dictate where it comes from (one of the three major credit reporting agencies) but as long as it's one of them, then you have to use it if it's within 30 days.

Also, I ONLY call it a background check... not a credit check. I had one that wanted to hand me their credit report instead of the company I use to pull the background reports and they were saying "I don't have to pay the $20"... you are correct, but we don't use credit solely ... it has to be our background check company. They were trying to tell me that they had a background check as well but it was from their employment (which I know they don't provide back to you) and it was from 2 months prior. "yeah, nice try".

They were a security guard for a building down the street. I saw the car there for about 2 more weeks and then it was gone... never heard from them again (or saw the car). --67.253.xxx.xxx




I added a Step (by Oregon Woodsmoke [ID]) Posted on: Jul 7, 2024 10:15 AM
Message:

My credit score bounces around close to 800 and if some total stranger on the internet wanted me to send a copy of my credit report to them, I'd move on to the next possible landlord.

It surprises me how much information some of you guys are getting for pre-qual.

I'm not renting to low income any more, but when I was, most of the applicants didn't have a clue what their credit score was, or even what a credit score was or what it was good for, other than a very vague idea that they never bothered to verify. There is a reason they are tenants, which is that they can't quite figure life out. --76.178.xxx.xxx




I added a Step (by BRAD 20,000 [IN]) Posted on: Jul 8, 2024 12:22 AM
Message:

Maple,

Interesting idea. Love the creativity!

Me? I don't give away my time for free with ANY pre-qual steps. I work to simplify and streamline the process for speed and ease.

We don't do anything until they PAY US to review their FULL app.

If you want to rent our good, clean, nice homes - do the app. It's simple.

In June our average was 1 approval out of 40 paid apps = $1000.

BRAD

--73.103.xxx.xxx




I added a Step (by BRAD 20,000 [IN]) Posted on: Jul 8, 2024 12:22 AM
Message:

Maple,

Interesting idea. Love the creativity!

Me? I don't give away my time for free with ANY pre-qual steps. I work to simplify and streamline the process for speed and ease.

We don't do anything until they PAY US to review their FULL app.

If you want to rent our good, clean, nice homes - do the app. It's simple.

In June our average was 1 approval out of 40 paid apps = $1000.

BRAD

--73.103.xxx.xxx




I added a Step (by Small potatoes [NY]) Posted on: Jul 8, 2024 12:51 AM
Message:

Jonny is right, you would be 'stuck' with their report if they challenged you and you can't demand a specific one. I tell them its a background check too, which it is because it checks criminal history too. If someone were to tell me they won't pay, I'd say fine, I'll cover the cost. Let's see how their self generated report compares to mine. Either way I wouldn't want to deal with this in an inquiry form. If they do apply and you reject for credit you have to say that is the reason and share the report you use. --172.59.xxx.xxx




I added a Step (by Sisco [MO]) Posted on: Jul 8, 2024 7:31 AM
Message:

I think you would have a problem were you to be sued for a fair housing issue, because people can use different credit bureaus and reporting services. You set the terms and treat the applicants all the same. --149.76.xxx.x




I added a Step (by Ray-N-Pa [PA]) Posted on: Jul 8, 2024 11:56 AM
Message:

What prevents all landlords from accepting these folks?

Correction: NYS regulations make it impossible to take the risk of renting to someone with a low credit score

This is only an opinion, perhaps an accurate one in your case, but I am rather confident that there isn't a state law that specifically says it is illegal to rent to someone with a bad credit score. It might be foolish to do so, but isn't illegal.

I could see some push back from someone who hasn't ever used credit karma and might think that you are asking for an entire credit report to some complete stranger, especially if you are doing this before they see the place.

I do like the idea though of using the third party vendor.

I have found that Credit karma was giving out score that were rather accurate in the mid level of the bell curve, but the further you go away from that 650 credit score the bad scores were not that bad and the good scores were not that good.

So have to asked yourself what you are going to do if credit karma says the applicant has a 799 credit score and when you pull it it is only 750. Still awesome credit but it would look like your pull of the credit report dropped their score 49 points.

Likewise I have had a person say their credit score was in the upper 400's but still threw away their money. The score came back as a 540. They still didn't qual, but suddenly they were happy to have bad credit. For these reasons, I elected to use a different third party vendor. This data is about three years ago so they have changed how they do business now . I just get an email from that third party vendor with their credit report. I don't have them pay for that though until after they see the place.

I believe you are doing alright in making improvements to your screening system. For that I have to give you a two thumbs up.

--24.101.xxx.xxx




I added a Step (by BRAD 20,000 [IN]) Posted on: Jul 8, 2024 9:54 PM
Message:

2 more cents...

Some of our best residents had low low credit scores. Just honest people who pay their bills, usually in cash.

Some folks with great credit scores were lousy residents - up to their eyeballs in debt, difficulty paying, always excuses, liars, "entitled rich folk", demanding...

BRAD --73.103.xxx.xxx



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