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True, and our organization is the same way. However, if you mail or fax an employment verification form to us, we will fill out with additional info. Rarely do we get these forms from smaller, private landlords...they usually come from property management companies and corporate owned complexes
I'd like to hear more if you care to discuss.
What I'd like is length of employment and confirmation if I give you what the applicant told me they make and you tell me if it's in the ball park.
Or I'd settle for high 5 digits annually, or low 6 digits annually. I don't need exact numbers. Just enough to apply the 3:1 test.
What I'd like is length of employment and confirmation if I give you what the applicant told me they make and you tell me if it's in the ball park.
Or I'd settle for high 5 digits annually, or low 6 digits annually. I don't need exact numbers. Just enough to apply the 3:1 test.
Generally the forms we see have a company letterhead and ask length of employment, status of employment, rate of pay and an average of hours worked per week. I'm assuming the landlord is also asking for pay stubs, but those are supplied by the tenant..not us.
We don't lie or fudge numbers or give specific hours to PRNs...we only give a 30 day trend. Those on sec 8 and govt assistance ask us to lie on these forms and we won't. They also ask for minimum hours in order to earn the highest assistance they can..again, we won't. We schedule you when we need you and if you don't like it..you can quit or be let go
What more does a landlord need to know? It's not their business what the applicant's job title is, like that should be a deciding factor in approvals.
Actually all I want to know is that they are employed there and their monthly salary. I just want to verify that my tenant applicants have real jobs and sufficient income to afford to rent my property.
Actually all I want to know is that they are employed there and their monthly salary. I just want to verify that my tenant applicants have real jobs and sufficient income to afford to rent my property.
And a handful of recent pay stubs or 5 years or so of W-2 forms can't give you that same info??
What more does a landlord need to know? It's not their business what the applicant's job title is, like that should be a deciding factor in approvals.
Whether or not it is a full time position and not seasonal or part time. Whether the employer considers the tenant to be reliable. Whether the income is a salary or a commission. How long the employee has worked there.
Job title only matters if the applicant has lied on the application to make himself look better. That lie matters very much. It also matters if the applicant has lied about who his supervisor is, which happens to be rather common.
I can whip you up as many W-2's and pay stubs as you would like to see on my home computer. Sorry, but I will double check to see if the applicant is telling the truth or "enhancing".
And a handful of recent pay stubs or 5 years or so of W-2 forms can't give you that same info??
They would.
Quote:
Originally Posted by oregonwoodsmoke
I can whip you up as many W-2's and pay stubs as you would like to see on my home computer. Sorry, but I will double check to see if the applicant is telling the truth or "enhancing".
That's the problem I have too. I know how easily I could fake as much docco as I wanted to.
My current tenants-to-be are moving from out of state, and I finally just decided to gamble that they would find jobs and/or have enough savings until they find jobs to pay the rent. Worst case my rentals are in a landlord friendly state and I can have them out of there faster than their heads can spin.
I have a sort of announcement: This is my last rental screening. From here on in I'm selling my SFRs when they go vacant. I'm on my way out of the landlord business.
A lot of my exit from the business has to do with the things we have been discussing in this topic, and how clever cheaters try to delude landlords into renting to unqualified tenants.
At least this time I know my tenants don't have jobs, but they have a proven job history and are working in a very desirable field (medical) near my rental SFR. Yes I am gambling, but at least I understand I am rolling the dice.
Hey, maybe it's my form of Las Vegas!
I have a diverse portfolio of investments and I fail to see the difference between gambling in Las Vegas, gambling on the S&P 500, and gambling on tenants who I think will perform. Like they say, there only two guarantees in life.
Last edited by Lovehound; 06-23-2017 at 07:51 PM..
I can whip you up as many W-2's and pay stubs as you would like to see on my home computer. Sorry, but I will double check to see if the applicant is telling the truth or "enhancing".
If a payroll company is doing the processing, every pay stub should gave that information on it. My pay stubs all say "Payrolls by Paychex, Inc." which is the company my employer uses. A quick Google search will prove the legitimacy.
If a payroll company is doing the processing, every pay stub should gave that information on it. My pay stubs all say "Payrolls by Paychex, Inc." which is the company my employer uses. A quick Google search will prove the legitimacy.
Because they are the only ones capable of typing that on a form? People fake paystubs all the time, that is just a fact of life at this point stop trying to argue about it.
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