Can you be leased an apartment if you make a little less than three times the monthly rent?
They want your monthly income to be at least 3x the monthly rent. So... if an apartment is $725/month and three times that is $2,175, and my monthly income is only $2,080, would they still let me get the apartment? It's only a little less than what they're looking for.
Sorry if this is confusing, I just don't know how to word it
- linkus86Lv 76 months agoFavorite Answer
It's up to the individual landlord. Plus remember, income is only part of the qualification process. Credit, previous rental history and criminal history is considered too.
- babyboomer1001Lv 76 months ago
Not usually. Since you are close, they might consider it if you have a good history, no debts, good references, good credit. Otherwise, forget it.Source(s): Certified Paralegal, with 25+ years' experience & with Landlord & Tenant law experience.
- 6 months ago
I rented one making double. I had excellent credit and I think a co-signer.
- SlumlordLv 76 months ago
You can ask. If your credit is good and everything else looks ok then they may say you are close enough and let you rent. They could also say no, but no harm in asking.
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- Beverly SLv 76 months ago
Maybe, but most likely no. They are usually looking for you to make a MINIMUM of 3 times the rent.
- Casey YLv 76 months ago
If your credit and rental history are excellent...they will likely make an exception for you. If borderline credit with borderline income...no way.
- JudyLv 76 months ago
You worded it fine. They might, it's up to them, if you show you don't have much debt.
- 6 months ago
Entirely up to the LL.
- Anonymous6 months ago
Income requirements are at the discretion of the landlord.
- .Lv 76 months ago
They have requirements for a reason, so I doubt the apartment complex will make exceptions. That becomes a slippery slope.