Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
California Real Estate Q&A Discussion Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 3 years ago on . Most recent reply

User Stats

173
Posts
74
Votes
Maria D'Aura
  • Real Estate Agent
  • Livermore, CA
74
Votes |
173
Posts

Qualifying renters - do you look at DTI?

Maria D'Aura
  • Real Estate Agent
  • Livermore, CA
Posted

When evaluating tenant applications what minimum requirements do you have? 

To qualify for a mortgage debt to income is talked about a lot, but not so much for renters. Do you take that into consideration? 

Most Popular Reply

User Stats

263
Posts
217
Votes
Dan Travieso
  • Investor
  • Fayetteville, NC
217
Votes |
263
Posts
Dan Travieso
  • Investor
  • Fayetteville, NC
Replied

Our requirements are that an applicant must be employed and provide proof of income. Income must be atleast 3x monthly rent. Favorable credit history of atleast 550, no evictions in last 5 years, good references from previous landlords for last 5 years and no repossessions (vehicle, property, etc) in last 5 years. Also must pass criminal background check. I don't worry about DTI since most folks pay their house bill before paying credit cards... Need to ensure you are abiding by Equal Housing Opportunity so I list qualification requirements on application as well as on a poster in the vacant home that can be seen when people walk thru so nobody can say that I "changed" the qualification requirements.

Loading replies...