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Updated about 8 years ago on . Most recent reply

User Stats

279
Posts
105
Votes
John D.
  • Rental Property Investor
  • Allentown, PA
105
Votes |
279
Posts

Landlords....What would you require in this scenario?

John D.
  • Rental Property Investor
  • Allentown, PA
Posted

Potential tenants for the 2nd floor of a duplex are 20 and 19 with no credit/rental history.  I did confirm employment and background and both came back fine.  Neither prospect has worked for their employer more than a year and both are FT students.  I checked social media sites and those look clean as well (no partying, no meth labs, etc.)  One works FT and grosses $3500/m and the other only works PT and grosses $500/m.  Rent is $875 and property is in NJ.

Any and all opinions and suggestions are appreciated!!

Thanks all!!

Most Popular Reply

User Stats

10
Posts
3
Votes
Conor Lowe
  • Rental Property Investor
  • Springfield, MO
3
Votes |
10
Posts
Conor Lowe
  • Rental Property Investor
  • Springfield, MO
Replied

If they're splitting the rent down the middle, which one would assume. Then that means the lower income renter is paying $438 a month while making $500, leaving him with $62 to live off and all other bills. So I would turn them down unless he is getting financial support from family due to being a FT student, which he probably is. And if he is I would require the parent to co-sign and be financially responsible.

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