SmartMove verifies income by requesting documents such as a W2 form or by conducting an employer phone call. These methods allow for a thorough assessment of an applicant’s income from the previous tax year and confirmation of their employment status and salary.
When an applicant submits their rental application through SmartMove, they may be asked to provide a copy of their W2 form from the previous tax year. This document provides a comprehensive overview of the applicant’s income, including details about their wages, salaries, tips, and any other compensation received during that time. By examining the W2 form, landlords can ascertain the applicant’s income level and determine if it meets their rental criteria.
In addition to the W2 form, SmartMove also offers the option for landlords to conduct an employer phone call. This allows them to directly verify the applicant’s employment status and salary with their employer. By speaking to a representative from the applicant’s workplace, landlords can gather information about the stability of the applicant’s income and confirm that they are indeed employed by the company stated in their application.
The employer phone call is an effective method to verify income as it provides an opportunity for landlords to ask specific questions related to the applicant’s employment. They can inquire about the applicant’s job title, start date, and salary, as well as any other relevant details that may impact the applicant’s ability to meet their rental obligations. This conversation helps establish a clearer picture of the applicant’s income stability and overall financial situation.
In some cases, landlords may also request additional documents to further verify an applicant’s income. These might include pay stubs, bank statements, or tax returns. These documents offer additional evidence of an applicant’s income and can help landlords make more informed decisions when considering their rental application.
It is important to note that SmartMove’s verification of income is aimed at providing landlords with comprehensive and accurate information about an applicant’s financial situation. By verifying income through various methods, SmartMove helps landlords make more informed decisions and mitigate the risk of renting to applicants who may not have a stable income.
In my personal experience as a tenant, I have encountered situations where landlords have requested my W2 form or conducted an employer phone call to verify my income. While initially it may seem invasive, I understand that landlords have a responsibility to protect their property and ensure that tenants can afford the rent. Providing these documents or authorizing an employer phone call helped establish trust between myself and the landlord, as it demonstrated my willingness to be transparent about my financial situation.
SmartMove’s verification of income through methods such as requesting a W2 form and conducting employer phone calls helps landlords make informed decisions when selecting tenants. By thoroughly assessing an applicant’s income, landlords can minimize the risk of renting to individuals who may struggle to meet their rental obligations.