Paying rent on time is the responsibility of every tenant, but since not all of them are reliable, landlords want to know that the people they are letting into their properties can keep up with the responsibility with minimal financial troubles here!. Before a landlord allows you to rent his or her property, you must provide proof of income which should be at least three times the monthly cost of the property as discussed on the website. You have to assure a potential landlord of your financial health by providing these financial documents. Keep reading to know more on the proof of income you should provide.
Any potential tenant who wants to have an easy time when renting or looking at properties should make sure to bring along his or her Pay Stubs as proof of their ability to pay. Thanks to technology, you can now obtain a Pay Stub from the comfort of your home or you can create a paper based one if you require a physical copy to give to your potential landlord.
Tax returns is the second document on this list and one that is highly reliable proof of income; with this, your potential landlord can view your yearly income to gauge whether you can pay the rent for the property or not. The tax returns is especially important for independent contractors or freelancers who may want to rent a property but do not receive the weekly paycheck; it helps in providing an accurate record of your income for those requiring it.
You should also get a copy of your bank statements when it is time to rent and you want to prove your ability to keep up with the monthly rent. When you are providing bank statements to a potential landlord you should know you are there is a chance that some transactions may be misidentified. If you are dealing with a landlord or any other individual requesting proof of income, a letter from your current employer is an opportunity to provide a strong reference as well as proof; it confirms your current employment status as well as level of income.
Social security documents usually come in handy if you are looking to rent a property but you live on payments from the government; they are applicable forms of income and the documents recording the payments you receive are valid proof of income. In case you are self-employed and you want to rent a property, there are a different set of documents you can collect to proof your worth to a landlord, and they include ledger documents and bank statements among others. Now you know the documents you need to your worth.