Needless to say that real check stubs are evidence of income. Landlords may ask prospective clients to produce the proof of their income that shows their eligibility to afford the rent for the property.
There are instances when tenants try to build trust by producing fake documents. But with payslips, they can be cross-verified with the employer and so tenants may re-think before producing forged income proof.
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It may happen that some landlords require two pay stubs, just to compare if you’re providing the correct details or not.
Before we proceed to check stubs, let’s see the other types of income verification documents that can help.
7 Types of Income Verification Documents
- Pay stubs online
- Tax Returns
- Bank Statements
- Employer Letter
- P & L Statements
- Social Security Benefits Statement
- Court Ordered Agreement
As you have seen, different types of documents are available that can be used to verify your income. However, if you haven’t received your recent paystub, you can request your landlord to agree with any alternative evidence.
You can also create pay stub for free in a few minutes only!
Pay Stubs have all the details a Landlord needs
If you’ve already accessed paystub maker then you must be aware of the details that a paycheck includes. From the employee’s name, address & basic contact details, it also highlights the company’s logo & more of the basic details of the firm. The gross income earned by the employee is also mentioned in the paycheck stub along with the specification on how often the employee receives paychecks.
For instance, the YTD information is enough for the landlord to check if you can pay the rent on time.
If an employee works overtime or has secondary income, they should be produced & specifically mentioned so that it increases reliability.
How is the evidence of income verified?
Here are the four things that sum-up whether you deserve it or not:
- Employer Name & Contact details
- Employee Name & Contact details
- Gross income for a pay period
- YTD income showing the total earnings for the year
A Note for Landlords
As a landlord, it is important to have a fool-proof strategy on hand so that no tenant can produce fake documents. Thus, you should ask for the most recent paystub & one that is paid at the beginning of the job at the current employer. This helps for better screening.
If you’re an Employer, why not try pay stub generator free?
Pay stub generator free offers great benefits to the employees as a well-formatted paystub means a lot for them. If you’ve not used this online paycheck calculator tool then you should do it now!