Tenant Bank Statements

[Serafin Fernandez]

Hello All,

I am a new landlord looking for advice. My properties are Class C properties. I have recently asked for two most recent bank statements. What is it that you look for in a bank statement other than income verification? Do you ask for full bank statements or only the first page?

I would like to see some reserves but being class c I’m not sure if I should expect that or use it as a criteria to disqualify.

[Marcus Auerbach]

There is not good answer to your question. What you will find is that most people (not only renters) don't have savings. They use credit cards for emergencies (Yeah, right..) 

We use mysmartmove (by transunion) for credit score and financial and criminal details, then compare that with the information provided on the application form to look for inconsistencies.

Also the interview is a big part of decision making, because most important is to have a person who is responsible and keeps your property clean.

We don't look at bank statements, but we do want to see the last pay stub before we sign the lease and make sure the employer and the amount matches the application.