Why is proof of income important for landlords when renting out an apartment?
To make sure you can afford to pay the rent. R-
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Do you have any thoughts to support the question?
The proof they want is often in the form of a bank statement.
A lot of folks don’t aren’t usually comfortable sharing their bank statements like that, but something most people don’t seem to know is that you can redact them!
Some landlords can get uppity about it, but if they only need proof of income, redact everything on the bank statement (black it all out) except the income amount and date.
Or just provide payslips, which they might prefer.
They may also accept a letter from an employer or something like a job contract if you don’t have /want to supply payslips/bank statements.
Also, it can take several months to get you out if you won’t/cant pay unless you leave voluntarily; which they may not be getting any rent for.
If you think about it, they’re basically giving you credit so no different from applying for a credit card with the limit of 12 times your monthly rent i.e. quite a large limit.
AI bot? Somebody wants their homework doing for them?
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I had to go through this again last year, this was done via open banking now.
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