Verifying Retired Applicant

[Sam Schildkraut]

Hi BP,

Anyone have advice or experience with retired renters? Specifically looking at how to verify income. Potential tenant appears to exceed minimum income requirement based on pre-screen but would need to verify with the application. I assume they are collecting through social security/retirement accounts.

My thought would be for them to provide several months of bank statements to show proof of distributions and amounts, proof of total retirement account fund, official proof of social security payments and amount (somehow).

In terms of other verification this applicant does not have a current landlord as they have been living with family. Any thoughts on screening from that regard? Naturally all other background checks and credit checks would apply.

Anyone have experience/war stories/recommendations on renting to retired folks?

[Michael Robbins]

I ask for last six months of bank statements.  I also ask for any pension letters.  

[Bjorn Ahlblad]

I have rented to several retirees and rejected many others. I screen them just like everybody else........verify income from all sources; bank and fund statements etc. Past LL references, social media etc. Great tenants. Always get family and emergency contacts and keep them up to date. This has been very helpful in dealings with older tenants as their needs change.