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Updated over 3 years ago on . Most recent reply

User Stats

19
Posts
10
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James Brown
  • Investor
  • Berwyn, IL
10
Votes |
19
Posts

Rental application - do you accept joint tax return?

James Brown
  • Investor
  • Berwyn, IL
Posted

Hi everyone, I wanted to pick your brain on a question I run into lately. 

I recently listed an apartment for rent. One of the applicants applied for our apartment as a single applicant, but submitted a joint tax return (with his spouse) as proof of income. He also sent me a bank statement, which is in his name. Numbers all look great in the tax return and the bank statement, but I couldn't tell how much of that income is his. Everything else in his application looks great - very good credit score, good job, etc.

What would you do in this case? Would you ask for more proof of income, like pay stubs or job offer that's from/for him only? Would you ask for a co-signer (his spouse in this case) in the lease?


Thank you all very much in advance.

Most Popular Reply

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9,999
Posts
18,561
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Joe Splitrock
  • Rental Property Investor
  • Sioux Falls, SD
18,561
Votes |
9,999
Posts
Joe Splitrock
  • Rental Property Investor
  • Sioux Falls, SD
ModeratorReplied

@James Brown the first thing to understand it the spousal situation. They could be getting divorced, he could be moving for a job or she could be living with him. If they will be living together, she needs to apply to. If they are separated, be aware that income now needs to support two households. Looking at it simplistically, you would cut that income in half. Have a direct discussion with him, because the reality is their income was supporting two people and one household in the past. Now their income is supporting two people and two households.

  • Joe Splitrock
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