Tenant screening requirements

2 Replies

I’m trying to get the other half of my house hack duplex rented. I have set my minimum requirements according to common information posted on BiggerPockets. A local business owner called me today inquiring about the property for her friend, she makes $100 less than my 3X the monthly rent requirement, she has some disability and I believe receives some kind of assistance. She has two dogs one of which is a service animal. She told me that she was lookin for somewhere to stay long term. Obviously the fact that she has disability does not in any way affect my decision to rent to her. I’m only concerned about the income requirement I have. Would you rent to someone just shy of your income requirement? Are there any big legal things here that I need to be aware of? As a new landlord it seems almost daily I come across something that I don’t know the answer to. Just looking for some input, thanks.

It's a slippery slope as soon as you start allowing "exceptions" to your rental criteria. What if she was making $150 less than your monthly income requirement? What about $200 less? I wouldn't rent to someone that is short of my monthly income requirement UNLESS there were sufficient compensating factors that would mitigate my risk (ex. co-signer). Ultimately, you still want to be confident that she will be able to pay the rent and the more you allow your requirements to slip, the more likely your tenants will be giving you headaches in the future.