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Updated over 6 years ago on . Most recent reply

David Sisson's profile image
David Sisson's profile image
David Sisson
  • Architect
  • from Providence, Rhode Island
  • Member since May 7, 2016
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David Sisson's profile image
David Sisson's profile image
David Sisson
  • Architect
  • from Providence, Rhode Island
  • Member since May 7, 2016
Connect
David Sisson
  • Architect
  • Providence, RI
195
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257
Posts
Starting Out

Required income for tenant - gross or net?!?

David Sisson
  • Architect
  • Providence, RI
Posted

So, right now, I'm requiring that the tenant have 3x the rental as their income. I've also heard it said that you should require 35 times or 40 times the monthly rent as their yearly income (which is a bit more strict). But should this be NET or GROSS income? I've been assuming that 3x monthly rent should be the minimum gross income, but maybe I'm not being strict enough? What do you use? 

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