Class C property, what income/rent ratio do you require?

[Mauricio Quintana]

Landlords of class C properties,

This is my first venture into rentals.  I'm just curious as to what parameters you use to determine a good renter?  Do you do any sort of ratio where you look for 3x (or whatever that multiplier is) in income versus the rent amount?   

Any other particular "red flags" you look for in their rental application that have come back to haunt you?  Outside of the specific rent multiplier question, any other insight/advice would be greatly appreciated

Thank you

[Yoni Benimetzky]

Hey Mauricio

I don't like using ratios because thats strictly a single parameter in evaluating a tenant. Rent should equal 30% or less of someones monthly income but thats just the starting point. You should also run a background check, credit report, verify their income, speak to previous landlord(s), and speak to them directly. 

There isn't a full proof method here, all you can do is reduce risk as much as possible but properly vetting your prospects.