Potential tenant moving in with her sister
My first property (3/2) is ready to rent and I am sifting through applicants. A woman told me that she is interested in moving in with her sister. Both have one child each . They are each going to fill out an application, but should I require that they each make three times the rent or would it be OK if only one of them makes three times the rent? Or If their income combined is five times the rent? What would be the dealbreaker in this scenario? If all things outside of the income are good for both applicants.
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@Ryan Schuler yeah I agree with @Patricia Steiner, wait until you get an application before really worrying about this. I can't count the number of times I've heard some variation of "I love the place, will fill this application out and get it back to you ASAP" only to never hear from them again. As for the 3x rent question, I typically consider the entire "household's" income when dealing with this. If you are concerned about one sister suddenly leaving and the other remaining one not being able to afford the rent, then just increase the security deposit (assuming the meet all your other rental requirements).