To assess a tenant’s affordability, investors and landlords determine the rent-to-income ratio by calculating the monthly rent as a percentage of the applicant’s income. The industry standard is a maximum of 30% of gross income going towards rent. According to HUD, tenants who exceed this 30% threshold are considered to … Read More
Proof of income is documentation that verifies a person’s current and ongoing source of income. It is important for landlords to request proof of income from potential tenants because it is a reliable indicator of the tenant’s ability to afford monthly rental payments. Landlords want to make sure that the … Read More
Landlords and property management companies often conduct background checks on potential tenants to verify their identity and check for any potential issues, such as a history of evictions. The scope of these checks can vary, but typically they include information such as past rental history. Wondering exactly what does a … Read More
As a landlord, you don’t want to deal with a tenant who doesn’t pay rent on time or at all. Eviction can cost anywhere from $3,500 to $10,000, and you’ll be left with a vacant unit that you’ll have to pay for out of pocket. That’s why tenant screening is … Read More
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