Qualifying a Retired Tenant

[Michael McDevitt]

I have a prospective tenant who wants to rent one of my units.  He retired about a year ago and is closing on the sale of his home at the end of September.  

I have never rented a unit to a retired tenant, so I don't know how to qualify one.  I am normally looking for wages high enough for the monthly rent not to exceed 30%.  What do I look for with a retired tenant?  I am assuming I am looking for plenty of liquidity and money in the bank.  what do you look for?