Looking for advice on tenants

[Z C]

I am renting out my house for close to $3000 a month. Two ladies are very interested. They are both in their early 50s. One is self employeed with income from $120K to 200K a year based on recent two year tax return. She has a 800 credit and no single late payment. The other lady has an income a little over $30K a year. She has filed bankruptcy with credit score at lower 500. She has just one 30-day late payment before April 2012. Now my question is should I rent the house to the ladies? If yes, what should be wrote in the lease to make sure no potential issue in the future in case the lady with higher earning moves out? Thanks a lot.

[Jon Holdman]

I'm a little confused by your reply. I think these two will be roommates, right? Put them both on the lease, assuming they both qualify. Your lease should clearly state they are "joint and severally liable" for the rent. You don't care who's paying as long as you get the rent. If they stop paying, you can go after either or both for the rent. So, if the one with good income is trying to get her friend into a place she can't really afford, then you will go after the one with the income.