Ways Renters Can Show Proof of Income without the Standard Pay Stub
While standard pay stubs have been the most effective way of verifying renter’s income, they are not the only method. Other Ways Renters Can Show Proof of Income can be found below. Please make sure to double check these with your Oklahoma Property Management Company first as they can vary.
Employment verification letter
Most landlords accept an employment verification letter as valid proof that you have the financial means to consistently pay your rent on time and in full. A letter from your company’s HR department stating the nature of the business, length of employment, salary hours worked, etc, is a viable proof of income.
Signed official letter
In case you’ve been offered a new job, simply provide documentation of your new employment stating your salary. This is another viable option especially for renters who have just graduated from school or are still in graduate school.
W-2, 1099, and tax returns
A W-2 Wage and Tax Settlement can also be used for verification of your income. For freelancers, entrepreneurs, and contract workers, a 1099 form, with or without tax returns, is sufficient to prove income.
Official statement/ letter from CPA or trust manager
For self-employed tenants, an official statement regarding your annual income from your CPA or financial manager can also serve as a proof of income. The letter should provide income statements from last year as well as projected income.
Bank statements
In cases where a renter does not have pay stubs, some landlords accept printed banks statements as proof they have enough money to pay for the apartment.
College financial statements
College students who receive financial aid to pay for living costs can provide this information as proof of their financial history.
Guarantor
Having a guarantor can also help you in proving your income to the landlord. A guarantor is an individual (family member or close friend) who promises to pay your lease if, for some reasons, you are unable to.