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Updated over 10 years ago,
rent not exceeding 33% of income rule question
I'm in the process for finding my first tenants in my first rent house. I'm just a little confused about the 30% rule. Here is what it states in my criteria: ''Monthly rent shall not exceed 33% of gross monthly income of all applicants.'' What I'm unclear about is what if a married couple wanted to move in. The rent does not exceeds the husband monthly income and it exceeds the wife's income. Is this acceptable? Does both income has to be within the range or not?