.- Each adult occupant must submit an application.- Your gross monthly income must equal approximately three times or more the monthly rent.- Your debt-to-income ratio should be within FMCC/FNMA guidelines.- A favorable credit history.- Be employed and able to furnish adequate proof of the required income.- Good references, housekeeping, and property maintenance from your previous landlords.- No history of evictions or broken leases.- No criminal background.Is there a clause that I can add to indicate that preference will be given to the most favorable applicant as defined by the above criterion?

Make sure to get an application from every adult that will be staying in the home.

Many cities have implemented a law that states "a maximum of three unrelated adults may occupy a dwelling unit".That means you can't legally rent a huge 5 bedroom, 3 bath house to four students or, say, two gay couples.

What if there are too many kids, not enough adults... or adult gets sick and kids end up on their own for even a minute?

Bill Gulley, I too did not go as a kid, so I have a full appreciation of what life looks like as an adult on both sides of the education coin.

They were friends, not related, and want to rent the house with their boyfriends (so four 20's adults total).

Because it is not open to the general public this would not be residential rental property and would not have the benefits of that tax treatment.An adult care facility, retirement home, low income housing and other similar types of housing might be residential rental property.

So you are running checks for all adults on the lease?

Thus the 2 heirs, who were adults when I was purchasing the property, had to sign the contract AND deed.Ultimately it will come down to your title co. and what they will require.

Always screen all adult tenants, never give personal loans/smokes/etc, verify EVERYTHING they tell you that's relevant to lease, keep it landlord/tenant.