Tenant screening- Income 3x Rent
I have a tenant vacating a unit and have listed it for rent. I'm running g into an issue Io haven't run across yet. I am getting a lot of inquiries from section 8 and self-employed individuals. Ok m not sure how to screen them. I need some help to qualify these tenants.
If I have a rule requiring income to be 3x rent. This only applies to W-2 wage earners.
What if someone is on the Section 8 voucher program and they are only responsible for a portion of the rent. How do I qualify them? Based on their portion of the rent or the total rent?
Same issue with self-employed individuals. While they may have a high gross income, they may expense as much as possible to reduce their tax obligation.
I'd like to give everyone a fair shot, so any suggestions would be appreciated.