Monthly salary requirements

[Jim Mcmillen]

What is the general rule on the minimum salary someone should make in order to qualify for a rental? For instance my sfh rent would be $800 per month. Thank you.

[James DeRoest]

Originally posted by @Jim Mcmillen:

What is the general rule on the minimum salary someone should make in order to qualify for a rental? For instance my sfh rent would be $800 per month. Thank you.

 3x as everyone else.

There are 2 reasons.

Someone who earns (and can be verified as earning that) will be a better tenant than someone who doesn't. Very simply, trash sinks to the bottom. 3x gives you a half decent chance of getting the floaters. Now I am aware how a toilet works, so floaters may not be the best analogy. And trash also floats in the middle of the Pacific. Hmm. But you get the idea.

Second reason is straight forward affordability. If you go 2x, how will they afford the latest iPhone (or if they are deranged, a Samsung), how can they afford a new car every April, how can you eat out every night, and how do you afford 300 channels on DirecTV? Hence 3x is a nice affordability multiplier.