Gross Income: Of course, you want to feel confident that an applicant can afford their rent and other living expenses. You can judge this by setting a minimum standard for gross income. Most landlords require a gross income of about 2.5 or 3 times the monthly rent. You can verify gross income through documentation, such as pay stubs, job offer letters, tax returns, and bank statements. Some states have specific laws surrounding source of income. Read more about source of income discrimination here.
DENIABLE FACTORS
Cannot meet income requirements.
Falsification of income.
Lack of proof of income.
Employment History: The ideal tenant must be gainfully and consistently employed. This criteria can be validated by adding AAOA’s Employment Verification to your tenant screening order.
DENIABLE FACTORS
Cannot verify employment through the employer.
Falsification of paystubs.
Rental history: Applicant must not have been evicted from any rental property over the last seven years. AAOA’s Landlord Verification can also be added to your tenant screening order to determine their rental history.
DENIABLE FACTORS
Broken lease agreements.
Any past evictions.
Rental application fraud.
Damage to the property.
More than one late payment and/or noise complaints.
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