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Updated about 3 years ago,
Out of state rental applicant
Just put my first rental on the market and need some advice. Rent is $2695/mo with a deposit of $2695. My requirement is household income of at least 3x rent.
Potential tenant is being relocated from another state and is moving here with her brother and boyfriend. Net income of $5,800/mo. Good credit.
Brother doesn’t have a job but plans to work for same company as sister. He sent a bank statement showing 26k from fathers life insurance. No credit.
Boyfriend’s current take home pay is $3,800/mo but he plans on quitting his job to move and finding another one once they get here. No credit.
Their current monthly income exceeds the minimum of 3x rent but this won’t be true once they move bc her boyfriend will have quit his job.
Would you rent to them? Should I ask for an extra deposit until all three are employed?