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2. The standard in the Bay Area is for landlords to require tenants have gross earnings of 2.5 to 3.5 times the rent and to verify this with pay stubs. Personal
by jahewson 8y ago
2. The standard in the Bay Area is for landlords to require tenants have gross earnings of 2.5 to 3.5 times the rent and to verify this with pay stubs. Personally I think this is ridiulous and antiquated as it should be my personal choice to blow half my cash on rent if I want to! But that’s the way it is.
- sjg007 8y agoYeah it's weird b/c they can easily rent it out for more if you default. Some of the big corp run apartments only require $500 security.
- nradov 8y agoLandlords don't care about personal choices. They want tenants who can still afford to pay rent even if they have an unexpected major expense one month. In practice some prospective tenants simply falsify their incomes. I'm not condoning this but all it takes is Photoshop and a ladder printer.
- closeparen 8y agoHmm? Blowing 1/3rd of your gross income and 1/2 your cash are approximately the same thing under our tax rates.