How do you verify income if the employer can’t divulge anything other than current employment and length of employment when you are checking their application?
Also, what’s the ideal income to rent ratio?
Thanks in advance for your feedback. Getting all the little details now to fill up the bigger picture.
Get a copy of their paystub. or W-2’s
Get a copy of the pay stub or W-2 to verify income.
Most LLs require gross income that is 3 times the rent.
Unfortunately, more and more of the local businesses are doing that: they will verify that the applicant works there and give absolutely no more information.
I ask for a couple of months of pay stubs and rely more heavily upon the landlord references.
I have also used it as grounds to reject an applicant that rang my alarm bell. Write “rejected. unable to verify income” on the top of the application and file it away.
That’s pretty simple, to ask for copies of recent paystubs. I should have thought of that because my landlord asked me the same thing. :banghead