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Updated almost 13 years ago on . Most recent reply

User Stats

59
Posts
7
Votes
Nick M.
  • Real Estate Investor
  • Sterling Heights, MI
7
Votes |
59
Posts

Prospective tenant income verification question

Nick M.
  • Real Estate Investor
  • Sterling Heights, MI
Posted

Merry Christmas to everyone!
I am in the process of renting out a home and want verify the income for this couple that applied for it. My question is: am I legally allowed to do that and how do I go about it? Do I call the employer and ask for the human resources department?

Thanks in advance;[b]

Most Popular Reply

User Stats

685
Posts
335
Votes
Ed O.
  • Investor
  • Statewide, MO
335
Votes |
685
Posts
Ed O.
  • Investor
  • Statewide, MO
Replied

Employers will usually demand a signed relase to provide you the info. I'd recommend trying to have them fill out a 1005 / VOE. Modify the standard form to take Hud's name off it as well as anything suggesting it's for a loan. It looks professional and it asks all the right questions.

https://www.efanniemae.com/sf/formsdocs/forms/pdf/sellingtrans/1005.pdf

If you get static, simply tell them you're underwriting their application similar to a loan.

  • Ed O.
  • Loading replies...