Woodbridge Property Management Blog

Local Property Management News

New Landlords - we request that you read through all of our blog entries as some of the older posts contain the most important information that we’d like to share.

The Reality of Risky Renters

Michele - Wednesday, February 22, 2012
Property Management Blog

In today’s economy, a significant number of rental applicants present a credit profile that includes challenges due to job loss, income instability, or struggles with a mortgage they could no longer afford.

When considering such an applicant, it is important for a landlord to look at the complete picture (credit profile, income, and rental history) and take into account how the applicant handled the challenges. The landlord should also consider whether the applicant has put him or herself into a financial position to be able handle the rent, utilities, and maintenance required of the rental being considered. 

In scenarios where the applicant does have some strengths but also presents a higher than average risk, that risk can be offset by requiring an increased security deposit.