At a higher level, all multi-tenant applications follow one of three approaches:
- One tenant's data lives in one database,
- One tenant's data lives in one schema, or
- Add a tenant_id / account_id column to your tables (shared schema).
I usually find that developers use the following criteria when they evaluate these different approaches.
Isolation: Since you can put each tenant into its own database in one hand, and have tenants share the same table on the other, this becomes the most apparent dimension. If you provide your users raw SQL access or you're in a regulated industry such as healthcare, you may need strict guarantees from your database. That said, PostgreSQL 9.5 comes with row level security policies that makes this less of a concern for most applications.
Extensibility: If your tenants are sharing the same schema (approach #3), and your tenants have fields that varies between them, then you need to think about how to merge these fields.
This article on multi-tenant databases has a great summary of different approaches. For example, you can add a dozen columns, call them C1, C2, and so forth, and have your application infer the actual data in this column based on the tenant_id. PostgresQL 9.4 comes with JSONB support and natively allows you to use semi-structured fields to express variations between different tenants' data.
Scaling: Another criteria is how easily your database would scale-out. If you create a tenant per database or schema (#1 or #2 above), your application can make use of existing Ruby Gems or [Django packages][1] to simplify app integration. That said, you'll need to manually manage your tenants' data and the machines they live on. Similarly, you'll need to build your own sharding logic to propagate foreign key constraints and ALTER TABLE commands.
With approach #3, you can use existing open source scaling solutions, such as Citus. For example, this blog post describes how to easily shard a multi-tenant app with Postgres.