High Cash, Low Income Tenant

[Chungsoon Haw]

Hey all,

I have my property up for rent right now and I'm asking 1400 all inclusive (have a basement unit so cannot separate utilities).

Typically the rule of thumb is 3x the rent, or about 50k annual salary.

The person that came in today works part time, and works on her online business full time. She recently went through a divorce and ended up selling her old place and split the proceeds (mortgage free). She's now sitting with 200k cash. However, her salary is only 20k a year.

I've looked up her business and she has some raving reviews. She's creating sugar art for weddings and so each one of those take days to complete. That tells me she's responsible enough to see things through.

She provided me her credit report and it was completely clean. She also naturally started talking about her distaste in debt and how she would buy on credit to collect the points and pay it off the moment she gets home.

Anyway, she's willing to pay the year up front, I get a good vibe from her attitude, and she does have a small but positive brand online.

So, fellow BPers, what are your thoughts?