Why do you need my pay stubs or bank records?

Dated: 08/01/2020

Views: 14

More times than I wish to count I have been asked "Why do you need my pay stubs?" when a prospective tenant is looking to rent a property. This question is a question of insecurity, because they are either not sure their income will meet requirements, or they feel I am trying to encroach on their privacy.

So, why do I need a copy of your pay stubs?

Your pay stubs allow me and the owner of the property to verify that your income is enough to consistently pay your rent and that you are employed. Your pay stubs, combined with your credit/background check, show your ability and willingness to be a good-paying tenant.

New Job...Who dis?

If you are new to your job, rather than requesting pay stubs, I may ask for an offer letter from your new employer, your new employer's direct number, and/or proof of funds from your bank. These items allow, much like your pay stubs, for me and the owner to ensure you have the ability to pay your rent on time.

Self-employed...I have options

When it comes to freelancers, contracted employees, and self-employed applicants who may not have pay stubs, along with your bank statements, I will request your quarterly tax statements. The bank statements will show your cash flow, as well as your current balance, which is just as important.

Blog author image

Wali Muhammad

I have been in Connecticut for over 30 years and have lived in Hartford, Middlesex, and New Haven Counties. I pride myself on knowing the market, having the drive to deliver results and the desire to ....

Latest Blog Posts

Why do I need to sign a Buyer-Broker Agreement?

Are you afraid to be exclusive...with your Real Estate Agent? Is it because of the possible long term commitment? If you answered yes to either of these questions, let me assure you, that this

Read More

Why do I need a Background or Credit Check to rent?

Just imagine this scenario...you are going to let someone, you don't know, live in your home. You are then going to trust that this person is going to be responsible enough to pay part of your

Read More

Why do you need my pay stubs or bank records?

More times than I wish to count I have been asked "Why do you need my pay stubs?" when a prospective tenant is looking to rent a property. This question is a question of insecurity, because they are

Read More

New York Broker Fee Ban...What are Connecticut Fees?

This week during our “What’s In the News” segment, Justin and I spoke about a new ban in New York of brokers fees for renters. Besides remembering looking for an apartment with one

Read More