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General Landlording & Rental Properties

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Rodney Kuhl
  • Rental Property Investor
  • Fishers, IN
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SSI income doesn't meet 3x monthly rent criteria - still ok?

Rodney Kuhl
  • Rental Property Investor
  • Fishers, IN
Posted Apr 23 2014, 17:48

So I have 3 applicants (a brother and 2 sisters) who don't work but get SSI disability income. Rent for my property is $850/mo, and I am requiring 3x the monthly income, which is $2550/mo in income. Combining all 3 of these applicants they get $2,099/mo. That obviously doesn't meet the criteria. But generally the 3x the monthly income "rule" is in gross income from my understanding, whereas the SSI income of $2,099/mo is what they take home every month.

Would you consider them as tenants for the property?

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