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Updated almost 7 years ago,

User Stats

240
Posts
69
Votes
Tim Wilkinson
  • Investor
  • Salisbury, MA
69
Votes |
240
Posts

Income verification

Tim Wilkinson
  • Investor
  • Salisbury, MA
Posted

Hi all,

I have a prospective tenant (a couple) that are both self-employed. Both parties (unmarried) gave me a copy of their experian report: 738 and 698, which is a good enough score, but I didn't pull the reports. However, I asked for income verification from their agent. I said schedule C would work, but I didn't say it needed to be from a CPA. I did receive a copy of Schedule C, which showed about $150,000 net profit for 2015. It was not from a CPA. In fact, I could create the same document for my company in about 10 minutes. I know their schedule C can be verified from IRS, but it takes too long to get them approved in time. 

They seem like good tenants. When I asked for the last three bank statements before I approve, the agent emailed me and said they wouldn't be providing any more personal info. They also informed me that they have been doing rentals for 15 years and they would approve this client in a minute. 

Am I wrong in wanting more validation of income?

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