Methods To Determine Income And Employment Of Prospective Tenant

Methods-To-Determine-Income-And-Employment-Of-Prospective-Tenant

One of the important steps of tenant screening involves the verification of income and employment of forthcoming tenant. You definitely want a tenant with a stable source of income generated from a legal commencement. A landlord must also be aware of the procedure ‘how to evict a tenant in Washington (for Washington’s residence) so that they can take necessary steps for eviction, if the situation occurs. Here are three legitimate steps have been mentioned that helps a landlord examining income and employment status of the tenant.

 

Request Previous Pay slips

 

One of the genuine steps is requesting a play slip of the last two or three months which clearly specifies the date of payment. In this way, you can conveniently determine tenant’s weekly, monthly, annual or average income including the year and date of earning.

 

W2

 

For added safety, you can request the copies of W2 form that belongs specifically to the tenant. This copies clearly determine how much income declared by the tenant in the previous year for taxation procedure at the same time proves them to be an individual with permanent income.

 

Analysis of bank statement

 

Most of the landlord prefer a tenant with a stable source of income still they are tent to let their dwells to a self-employed who can’t submit pay slips. You can ask the tenant to submit the bank reconciliation statement from the last two or three months. In addition to bank’s statement, the landlord can also checkout tenant’s taxation record which might be sometime a vast and tricky procedure which is usually skipped by most of the people.

 

how-to-evict -a-tenant-in-Washington
how to evict a tenant in Washington

Ask for an employment verification inquiry

 

In case of a person is working as an employee, the landlord has the right to contact his/her employer in order to request them regarding the tenant’s employment verification. The intention is also to find out whether the pay slip submitted by the tenant actually belongs to the respective organization or not.

 

Obtain a credit check

 

Everybody has their own credit score based on their bank statement and records of paying off the previous debts. Furthermore, it is maintained by comparing a person’s total debt to the income.

 

Other sources of income

 

Although a tenant’s basic income is earning money as a professional employee but the ideal landlord must also make sure to check further regarding the income of the tenants generated from other sources.

 

Conclusion

 

In case the information provided by the tenant found wrong, ultimately it becomes the violation of the owner-tenant deep. In that a situation, the owner has the right to cancel the agreement and can evict the tenant.

 

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