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Which Docs are necessary for new Tenants? - Landlord Forum thread 355527








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Which Docs are necessary for new Tenants? by Mike (NY) on January 1, 2018 @08:32

                              
Hey guys a local RE person is telling me that 3 docs is needed when choosing a new Tenant, Credit report, Tax returns and pay stubs.

I understand the report will show credit score, any loans e.t.c and the pay stubs will show proof of income but what's the purpose of the Tax returns please and is that necessary?
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Re: Which Docs are necessary for new Tenants? by Garry (Iowa) on January 1, 2018 @09:56 [ Reply ]
Tax returns are really not needed vary often. Usually a LL will want them from a tenant that has his own business, to show if he/she has a profitable business or not. In general, that "profit" is that person's net income for the year, which is what they will be paying their personal/daily living expenses out of (their rent, utilities, food, clothing, etc. )If that small business was not profitable the past year, chances are that you may not get your rent on time, or even at all, in the future. Another doc we LLs usually want, is a criminal background report, which you didn't mention. If someone has various interactions with the law, or recent evictions on their record, why would you want to rent to them ?
Re: Which Docs are necessary for new Tenants? by Anonymous on January 1, 2018 @15:15 [ Reply ]
I collect Driver License from each Adult Tenant Candidate. More, I run Tenant Credit Report, not let Realtor do it.
Re: Which Docs are necessary for new Tenants? by Anonymous on January 1, 2018 @17:12 [ Reply ]
My realtors usually collect Drive Licenses during Tenant Candidates filling out and submitting Tenant Application.

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