How this calculator works
A landlord using this policy compares gross monthly household income with three times the monthly rent. Add the incomes of all applicants if the policy permits it. Equal tenant shares are a planning assumption; a joint lease may make each tenant responsible for more than an equal share.
Formula
Required monthly gross income = 3 × monthly rent. Annual income = 36 × monthly rent. Maximum rent = gross monthly income / 3. Equal income share = required monthly income / tenants.
Worked example
For $1,800 rent, the household needs $5,400 a month or $64,800 a year under this policy. With two equal contributors, each supplies $2,700 monthly.
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Frequently asked questions
Is this a Canadian legal requirement?
It is a screening convention. Actual rental rules and acceptable evidence depend on the province and landlord.
Should I enter take-home pay?
Use gross income for this particular rule. Check take-home cash separately when building a budget.
Does meeting the rule make the rent affordable?
No. Utilities, debts, savings, dependants and income stability can change what you can sustain.