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Updated over 11 years ago on . Most recent reply

John Thedford's profile image
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John Thedford
  • #5 Wholesaling Contributor
  • Real Estate Broker
  • from Naples, FL
  • Member since Feb 7, 2013
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John Thedford's profile image
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John Thedford
  • #5 Wholesaling Contributor
  • Real Estate Broker
  • from Naples, FL
  • Member since Feb 7, 2013
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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
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General Landlording & Rental Properties

How Much Income Do You Require From A Tenant To Approve Them?

John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
Posted

What is the general rule of thumb for approving a tenant on income? Say the rental rate for an annual is $1150 per month. How much would be the minimum income you look for to feel comfortable the tenant could pay the rent? Thanks!

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George Paiva
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  • from Milford, Connecticut
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George Paiva
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George Paiva
  • Investor
  • Milford, CT
Replied

Monthly income has to equal 3x rent. Thats the standard.

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