Tenants Proof Of Income
I have prospective tenants who wish to lease an upscale property (over $2000 a month). One is W-2'ed but doesnt make 3 times rent. The partner states a larger income for himself, but is not paid in a "normal" fashion (cash). There is also a past bankruptcy (99) which is cleared. Im assuming the cash income is to ditch wage garnishing.
How do you seasoned landlords verify income?
1) get last W-2s or tax returns
2) get last few paycheck stubs
3) get last few bank statements
4) phone verify employment , but that number could just be their co-worker, talking them up.
What other creative ways can i use to justify leasing the property with little documentation?
How do you verify income?
Note: the previous landlord , said they paid on time, no noise, no hassles , for over a year. BUT, the rent was only $1250.
Should i ask for first, last AND security deposit?
Thanks for any and all information!
Is there any way to have a regularly scheduled deduction from someone's paycheck (as opposed to just their checking account) or is that only for wage garnishment (gov.) Do anyone do this? Rather than just being at the mercy of a tenant who says they will pay...make sure you are first to receive it?
Thanks,
D
latestart,
I use www.RealChek.com.....
and I "ALWAYS" GET 1st, Last and Security
...if the rent is $800.00...
I get $2400.00 up front or at least $1600.00 plus an extra amount for the
remaining balance....
....as always,
GoodInvesting, Rocky
Isn't the max in some states equal to the first and last months rent? In that situation, for example, $1600 is the most you could get for a deposit? Yahoo has a real estate section that has a lot of the laws per state... I know mine was first and last months rent max.
Quote:
On 2003-08-01 15:31, 2000rock wrote:
latestart,
I use****Must Reach Senior Investor status before posting URL's***
and I "ALWAYS" GET 1st, Last and Security
...if the rent is $800.00...
I get $2400.00 up front or at least $1600.00 plus an extra amount for the
remaining balance....
....as always,
GoodInvesting, Rocky
Ruman,
YOU MAY BE RIGHT!!
RE: StatesLaws
...I never thought of that...
ThanksForTheReminder!
InFlorida...I have NEVER had that problem..
ThanksAgain...
....as always,
GoodInvesting, Rocky