VaderTower t1_ivd1s4g wrote on November 7, 2022 at 1:45 AM

Reply to comment by GuestExisting4639 in Springfield renters and landlords, what are your thoughts/opinions on how so many landlords/rental companies want potential tenants to have income that is equivalent to 3x monthly rent? by Snoo_84090

OR LESS, preferably less. In my opinion 30% of your income going to housing is so much higher than I'd ever go.

Aimless78 t1_ivd8q28 wrote on November 7, 2022 at 2:39 AM

That 30% isn't just rent but should include the rent, utilities, and trash. Basically depending on utility usage your rent should be between 20-25% of your income with the other expenses taking up the rest.

GuestExisting4639 t1_ivdvfam wrote on November 7, 2022 at 6:14 AM

Not in many government agency cases. 30% is for rent or mortgage and utilities are separate. I work in these agencies I know.

Aimless78 t1_ivnun1h wrote on November 9, 2022 at 9:02 AM

Yes but the problem is that is government helping people ans they want to keep those people needing them so they over extend them. The worst thing you can hear a person say is , 'I'm with the government and I'm here to help!'

GuestExisting4639 t1_ivo22vt wrote on November 9, 2022 at 10:50 AM

To be perfectly honest that ratio has always been taught whether you’re on government assistance or not. My parents always taught me that my rent or my mortgage should never be more than 30% of my income. I’ve never been on government assistance I work hard and I don’t think that encourages me to overspend in fact I think it encourages me to be a good steward of my money.