Income verification for a tenant

[Raghavendra Jakkani]

We got an application for a single family rental which is in Dallas. The application is someone with an address from NC. The job location says NC. They are currently in Dallas. They submitted paystubs and bank statements from two different banks. The bank statements has deposit showing gross pay from the pay stub and not the net pay after taxes. So I cant reconcile the paystub with the bank statement. AND The balance on one statement is < 100 and other not enough to cover the first months rent and deposit. They are ready to move in asap. This is concerning to me but can anyone let me know if I am missing something.

[Bill B.]

How would the bank even know the gross pay amount?

I don’t like it. 

Does your application ask what their work position is? Is it a position they could keep if they were in a different state than their employer? (Or maybe it’s big enough to have a TX branch?) Call them and verify employee status/account paychecks drawn on?

If you don’t want to hire a PM to manage your property I would at least hire one to do the screening.  Otherwise you have to pass.