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Updated 11 months ago on . Most recent reply

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Daniel Mendez
  • Investor
  • Dallas, TX
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Landlords, how do you verify self-employed income?

Daniel Mendez
  • Investor
  • Dallas, TX
Posted

I have a tenant wanting to lease my unit. 

However, they are self-employed.

What is the best way to verify income for someone that is self-employed?

  • Daniel Mendez
  • Most Popular Reply

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    Wesley W.#1 General Landlording & Rental Properties Contributor
    • Rental Property Investor
    • The Vampire State
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    Wesley W.#1 General Landlording & Rental Properties Contributor
    • Rental Property Investor
    • The Vampire State
    Replied

    Absolutely.  Some people use bank statements, but I am more comfortable using tax statements (e.g. 1099).  My feeling is that the tax evasion thing cuts both ways.  If they are underreporting their income to the IRS, I cannot guarantee that the revenue actually exists.  That's exactly how a lender or creditor would treat the situation, as well.

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