Renting to small business owners

[Kyle Huber]

I recently purchased a multifamily property north of Boston. I inherited one tenant on the first floor, a vacant second floor, and I will be living on the third. I am currently trying to rent the second floor 3 br unit. Ideally for April first. The best overall candidate that has shown serious interest is a young family of 4. They are originally from North Andover, the town the property is in. They are moving because their current landlord's son needs a place to live and are essentially being asked nicely to leave. My only hang up is that their only source of income is a towing company that they started together one year ago. Based on the gross income they put on the application the are just shy of the 3x rule which I am willing to look past. I certainly don't want to discriminate against entrepreneurs, but I would feel more comfortable if at least one of them a more reliable source of income.

Is this a valid concern? Should I continue to look  even if it means not filling the unit for the first of the month?