How to Prove your Can Pay Rent
With landlords having to evict tenants who cannot pay rent every now and then, they have come up with a method of determining a potential tenant’s ability to keep up with paying rent on this site. Before a landlord allows you to rent his or her property, you must provide proof of income which should be at least three times the monthly cost of the property as discussed on the website. You have to assure a potential landlord of your financial health by providing these financial documents. You will learn more on the proof of income examples listed below.
Pay Stubs is the first document on this website that you will be required to provide because it is the easiest one to obtain whether you are a part-time or full-time employee because you receive t every time you get a check. There are software resources that will allow you to create paper check stubs when you require a physical copy but it is not always necessary since most things are going digital but bring your Pay Stubs is necessary when hunting for a house.
You should consider bringing your tax returns along if you want your house or apartment renting process to proceed smoothly; since it is a governmental document, it is usually highly reliable. The tax returns is especially important for independent contractors or freelancers who may want to rent a property but do not receive the weekly paycheck; it helps in providing an accurate record of your income for those requiring it.
You should also get a copy of your bank statements when it is time to rent and you want to prove your ability to keep up with the monthly rent. When you are providing bank statements to a potential landlord you should know you are there is a chance that some transactions may be misidentified. If you are dealing with a landlord or any other individual requesting proof of income, a letter from your current employer is an opportunity to provide a strong reference as well as proof; it confirms your current employment status as well as level of income.
You can also use social security documents as proof of income and ability to pay rent but only if you live on social security payments from the government. Employed or not, you need to convince a potential landlord that you can pay rent monthly which s why the ledger documents, 1099 form from the IRS, and bank statements are important for the self-employed individuals. Now you know the documents you need to your worth.