Minimum income requirements

[Christopher Ward]

Hello, 

If I would like to rent my SFR for 1600 a month, the minimum requirement would be monthly gross income 3 X 1600 = 4,800.

I'm assuming there's 160 work hours per month  ( 4 weeks X 40 hours ).

If they're making 30 per hour gross income, 30 X 160 hours = 4800 monthly income.

If my calculations are correct, Is it okay to tell prospective tenants a $30 per hour steady job is required?

[Thomas S.]

Stick to the basics...3X rent.

Don't complicate matters, what you are seeking is proof of income not proof of wage rate. Rent is by the month income needs to be by the month. This will protect you in regards to weekly fluctuations in income.