Couple Screening Requirements

[Frank Jennings]

What if you have a couple looking to rent and one of them meets your screening requirements but the other one doesn't? Do they both have to meet all the requirements? And specifically for income, do they?

[Kevin Sobilo]

@Frank Jennings, its literally impossible for one tenant to meet income requirements and the other NOT meet them because if you are renting to them together and not renting separately by the room like a rooming house then their income should be considered on a combined basis.

I'll add in another thought that isn't often discussed. In addition to requiring their total monthly GROSS income to be AT LEAST 3x the monthly rent, I also require that their monthly debt payments PLUS rent be NO MORE THAN 45% of their gross monthly income. This is similar to how mortgages are underwritten with whats called the back end ratio.

Some applicants come to me and barely meet the income 3x rent rule, but they also have more debt than they should for their income such as a large car payment, student loan, or child support. Those things can also make the rental price too high for them to afford.