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Re: Which Docs are necessary for new Tenants? - Landlord Forum thread 355528

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Re: Which Docs are necessary for new Tenants? by Garry (Iowa) on January 1, 2018 @09:56

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 ?
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Re: Which Docs are necessary for new Tenants? by mike (NY) on January 1, 2018 @10:06 [ Reply ]
I was thinking the Tax return would show if an individual [not business] would be owing any taxes and that would be the main purpose of it?

Also my info shows that Credit report would show any evictions?
Re: Which Docs are necessary for new Tenants? by Doug on January 5, 2018 @00:43 [ Reply ]
I get the drivers licence to confirm identity and an address. I get a credit report and criminal background check. IF they run a business and would like that income included in the consideration I get 3 years tax returns. No need for all the schedules. I think it's first page and last page or something like that.

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