7 Ways Landlords Can Verify Proof of Income
So you are trying to rent an apartment, but you are in need of a proof of income. Luckily for you, there are multiple ways to prove your income in 2019, and landlords are not restricted to one method of proof.
Landlords use proof of income to ensure that you have the ability to pay rent while you are living on their property. Read on for some of the different ways you can document your income.
1. Employment Verification Letter
An employment verification letter is something that you can receive from an employer to show to your landlord.
The letter shows that you have been employed by a person or organization for a set amount of time and usually includes contact info in case a landlord should have any inquiries.
A proof of income letter for apartment rental is a great option because it is super convenient for both parties!
2. Tax Return
A tax return will show all taxed sources of income that the tenant has received. While a tax return is not necessarily current depending on the time of year that it is presented, it gives a landlord a good look at what the potential tenant is currently earning.
3. W-2 Form
Similar to a tax return, a W-2 form shows the income that you have received for the year. Unlike a tax return, a W-2 form is specific to an employer, so they will not show your total taxed income.
Employers are required to send these to their employees at the end of the year, so this shouldn’t be difficult for tenants to obtain if they are working for a company.
4. Pay Stub
Pay stubs are very easy for tenants to retrieve because businesses usually provide them throughout the year to their employees.
You can also generate a paystub at paystubcreator.net. Many people often bring paystubs ahead of time when applying for a rental.
5. Bank Statements
Bank statements provide an overall view of what is going in and out of your account.
Freelancers often wonder how to verify income, so this is a great option for because their work is often undocumented or spread across various platforms.
6. Statement of Unemployment
For those that are unemployed, providing a statement of unemployment is your best option for landlords. A tenant can pair this with bank statements to reassure their landlord that they are still receiving income.
7. Offer Letter
An offer letter is a great proof of income for those that have just obtained a new job.
Just like an employment verification letter, an offer letter will have contact info that a landlord can use to verify the legitimacy of the document.
The letter will also show that the tenant has recently been employed, their start date, and what the pay will be at the job.
While applying to rent a house or an apartment can be a daunting task, providing these proof of income items will ensure that your landlord allows you to rent.
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