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Updated 8 months ago on . Most recent reply

User Stats

253
Posts
46
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Daniel Mendez
  • Investor
  • Dallas, TX
46
Votes |
253
Posts

Landlords, how do you verify self-employed income?

Daniel Mendez
  • Investor
  • Dallas, TX
Posted

I have a tenant wanting to lease my unit. 

However, they are self-employed.

What is the best way to verify income for someone that is self-employed?

  • Daniel Mendez
  • Most Popular Reply

    User Stats

    1,865
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    Wesley W.
    • Rental Property Investor
    • The Vampire State
    2,310
    Votes |
    1,865
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    Wesley W.
    • Rental Property Investor
    • The Vampire State
    Replied

    Absolutely.  Some people use bank statements, but I am more comfortable using tax statements (e.g. 1099).  My feeling is that the tax evasion thing cuts both ways.  If they are underreporting their income to the IRS, I cannot guarantee that the revenue actually exists.  That's exactly how a lender or creditor would treat the situation, as well.

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