Unemployment count as income

[Seth Tandett]

Alright. Got the first purposeful rental property bought and rehabbed. Now we are looking for renters.

We are including in our advertising that we are looking for tenants that have:

1. Income 3x or more of monthly rent.

2. No evictions.

3. Clean background.

4. Good credit.

We are doing this in hopes of ridding the tire kickers.

I had someone call today and ask if unemployment benefits count as income...I told him I needed to ask the owner and would get back to him.

What do all think?

[Cameron Tope]

Hey Seth,

I agree with @Greg Scott - you have to be careful. We do NOT count unemployment as income. Unemployment is temporary help on your way to find a new job. 

When they have a job with a few months of paystubs, they can apply to be in one of our units. 

Your criteria sound firm but fair. Don't bend your criteria as it will create headaches down the road.