Is the 3x rule really necessary?

[Anthony Vander Meer]

Hey all, 

Yes you should always use the 3x rule when evaluating if a tenant can afford your rent. However I've come across a few very good applicants who have great credit, little debt, and solid jobs.  There salary's are 2.6X's the rent, so about $400 shy.  I'm looking for advice and some experience with going slightly below, good and bad.  Thanks!! 

[Nathan Gesner]

Every rule has exceptions. You should operate by the "intent" of the rule, which is to identify and mitigate risk. A married couple in their 70s that have previously owned homes for 40+ years and are now retired with no debt, no kids, and 50 years experiene as adults should not be looked at the same as a boyfriend/girlfriend in their early 20s that have never owned a home or rented together before, still paying student loans, living paycheck to paycheck, and financing that 2018 Dodge Charger in the driveway.