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Updated almost 4 years ago on . Most recent reply

Peter Morgan's profile image
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Peter Morgan
  • Rental Property Investor
  • from West Des Moines, IA
  • Member since Apr 7, 2018
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Peter Morgan
  • Rental Property Investor
  • from West Des Moines, IA
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Peter Morgan
  • Rental Property Investor
  • West Des Moines, IA
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General Landlording & Rental Properties

Prospective tenant has 50% from Unemployment income

Peter Morgan
  • Rental Property Investor
  • West Des Moines, IA
Posted

Hello

A prospective tenant exactly meets three times of rental income requirement.However fifty percent of it comes from unemployment income, is it worth considering this tenant?

Appreciate your inputs.

Thanks

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Scott M.
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  • from Rochester Hills, MI
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Scott M.
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Scott M.
  • Real Estate Broker
  • Rochester Hills, MI
Replied

We never consider temporary means of income as part of the calculation.  While noting is a guarantee, it is a guarantee that unemployment will run out at some point.  Be a hard pass for me.  

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