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ECIL | A couple other things: use the credit report to help determine affordability. Banks as a general rule won't loan out mortgage payments that are greater than 26% of income or create a monthly payment load of greater than 40% of income. Do likewise with the pay stubs and credit report. Also, determine your pet policy in advance and if you allow pets include an extra pet deposit. And require they carry renters insurance. It covers them in event of a loss of their personal property and any damages to the premises due to their actions, such as a grease fire torching the kitchen.
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Renting out a farmstead
