All Forum Posts by: Tanim J B.

Newbie question, has an application for a B class neighborhood where applicants income is right along border 3X with the new job they just moved ( a better paying). So asked for bank statements to verify 3 months of rent, but they have no savings.

but their credit score is fine and no late payments or evictions.

wondering, if that should be consider may be with extra deposit or not?

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Do you guys check bank statements for income only or also spending habits and then decide?

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They are servers in other city, but vll be moving here and searching jobs.

3 of them dont have credit history.
1 has 650 ish.but ready to pay 2 months security.

how does gurantor work, we should have gurantor for each one?

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Originally posted by @Danielle Jackson:

Do they have someone who could co-sign for them? I'd consider it with double the deposit, good income, and a co-signer. Otherwise, no.

Yes they have gurantor. And have current jobs which is 5x rent. But they be looking jobs here.

Taking 2 months security should work i beleive

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Guys, whats your experience on renting to young ppl who just started.

Wondering, if having 2 young couples just out of college is better or does that carry more risk for vacancies and each being liable towards lease?

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Newbie question. Trying to read a smartmove report it says Total monthly payments. Does that include all the credit card payments (like monthly statement that may include all the utilities n expenses?) OR is it just fixed payments like car loan etc?

And should we subtract this from Gross income to see eligibility?

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Strange report, the person makes over 3.5X rent and has only one account with 6 late payments and a terrible score?

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Great thoughts!

wondering if you say Gross, should we subtract their debt payments and then see if its 3X?

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Originally posted by @Arsen Atanasovski:

No I do not approve on 2x

So we should look net pay 3X not Gross.

thanks for clarifying.

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Originally posted by @Joe Splitrock:

@Tanim J B. I would consider pay stubs reliable, but only if you contact the employer and verify employment. I could manufacture fake pay stubs if five minutes that you couldn't tell were not real.

The Income Insights feature of My Smartmove is unique to them. They use pay information from previous applications, compare it to payment history and declared income. They determine if the reported income seems right. If they are saying it is lower, I would definitely do extra verification with the employer.

I require gross monthly household income to be 3X rent. If you are seeing 2X rent, that is too low. Make sure you are reading the pay stubs correctly. Pay periods are sometimes non standard. My company pays twice a month. Many are paid every two weeks, so you can see that could make a difference. Some people also get more pay seasonally. A construction worker may make a ton in the summer and be virtually laid off in the winter.

To clarify. 2X is net take home. Gross says 3X.

But still will you say its affordable if net pay is 2X rent?

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All Forum Posts by: Tanim J B.

Tanim J B. has started 18 posts and replied 44 times.

Post: Would you accept this application?

Post: Looking Through Bank Statements

Post: Thoughts on renting to ppl with no credit

Post: Thoughts on renting to ppl with no credit

Post: Thoughts on renting to ppl with no credit

Post: Help reading a credit report

Post: Will you accept this?

Post: Gross income 3x rent too simplistic

Post: How to review smartmove income suggestions

Post: How to review smartmove income suggestions