Rental Applicant Requirements in the Case of Multiple Tenants
Hi Everyone,
I'm in the first time process of accepting applicants for an apartment. I have a question about the approval process for multiple tenants in one unit (husband and wife, boyfriend and girlfriend, or roommates).
I'm definitely going to run a background check on each adult that lives in the unit, but what about income requirements? Does each person have to meet the income requirements on their own or together? My income requirements are 3X the monthly rate and the monthly rate is 600. Does that mean each tenant has to make 1800/month or would you accept them if they made a combined 1800/month.
My concern would be what if one roommate decided to leave or the couple broke up?
Thanks for your responses!
-Joe