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Updated about 4 years ago on . Most recent reply

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386
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Luke H.
  • Real Estate Investor
  • Dallas, TX
168
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386
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Pros: Would you rent to these applicants?

Luke H.
  • Real Estate Investor
  • Dallas, TX
Posted

Hope everyone is well.

House for rent on market for 4 months, recent price reduction.
I have 3 applicants, employed, mid 20s, combined monthly income is $200 short of (3 x rule). 2 of them have excellent credit, 1 has no credit yet. All 3 are moving out of parents home for 1st time. 

How would you handle this and why? 

Thanks for your feedback.

Most Popular Reply

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Filipe Pereira
  • Property Manager
  • Windsor Locks, CT
1,863
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1,731
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Filipe Pereira
  • Property Manager
  • Windsor Locks, CT
Replied

@Luke H. I know you said they have good credit, but what is their debt load and how does that compare to their income? 

Run a budget as if you were them. Put all their expenses on one side and put their income on the other. Is there money left at the end of the month, or month left at the end of the money? 

If the numbers are right, I say yes, with a full security deposit and possibly a parent's co-sign. 

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