What other ideas do you suggest to verify pay stubs are legit?

What other ideas do you suggest to verify pay stubs are legit? Had a young guy fill out an app today with his sister and aunt by his side. He tells me the pay stubs will be emailed today which they were. I look Up the employer to send an employment verification and learn that he works for his aunt and the business is out of a house. They take care of people in a home setting. He is listed as an independent contractor. The employment verification is filled out and emailed back to me at 730 pm tonight. I am worried that I can’t verify employment with anyone but the aunt and an email account. Any helpful suggestions here?

Statements verifying 90 days of deposits from this "job"?

Unless you go out of the way for everyone don’t go crazy about this one. That is a very common source of income.

If he is an independent contractor then he should provide copies of his last 2 years taxes.

2018 taxes

Higher deposit and a risk fee.
This would be a good time to cover any 1099’s income that can be a requirement for leasing at your community.
It would not hurt to ask for a co-signer either
But for now last 3 years tax returns
Previous rental history as well

I employ home care givers in my household for my special needs son. They are taxed and paid through my payroll company with state funds. But for my employer everyone one is verified by a employer verification or 6 month of bank deposits.

Call the employer

W-2’s and tax returns. Go extra mile and get 3 months bank statements to if u want!

Tax return and 6 months of bank statements.

Bank statements

Tax docs, business license,

Agreed bank statements

Make sure you follow fair housing procedures also if it’s subsidized property go by your tenant selection plan, you can’t always go by your gut, we still must follow the rules no matter how shady they seem, just my opinion.

Here is the intersting part the correlation between credit score and timely rent payment is pretty solid. If you run the credit through a third party you get an accepted conditional or denial. Use there pay that is stated on the application unless they come back conditional then verify income.

W2's & tax return for 2018

Here’s the thing-a lot of people run businesses from their homes as it is a tax write off. If you don’t put this much energy into other applicants-you shouldn’t with him either. Fair housing is a very nasty thing to mess with.

IRS

A copy of last year’s tax return.

If he’s independent then he’ll be a 1099 and will have a statement of income for tax purposes from the aunt if it’s a legit business.

In my experience the last few years..... fraudulent bank statements and tax returns can be created too. Good luck! Home heath care providers that work for family are usually fraudulent in my experience.
It’s so frustrating.
Have you seen the actual drivers license or social security card?

Too late with this fellow. But I have changed my application that self-employed, family businesses, independent contractors are to provide 3 months of bank statements. I've had Uber Drivers, Personal Trainers, Landscapers and decided I needed to make an adjustment.
With that said, the comments regarding the correlation between credit scores and timely payments is spot on. A high score shows willingness and ability to maintain obligations.

Hey Felicia, we always ask for bank statements to back up stated income, but beware that many people fabricate the statements so a good rule is to have them bring the physical copies of the originally mailed bank statement to the office. You can tell the difference between an actual statement and one someone printed pretty easily. Good luck!!

Copy of last 2 years tax returns or last two 1099’s. Here are some tips that I use when we run into this.
1. Is the business listed on the Secretary of State website as a legit business? If not, they are paying under the table.
2. If you question pay stubs, Make sure the decimals line up on the dollar amounts. Pretty much all the time, fake stubs have decimals all over the place and don’t line up.
3. Check addresses on all stubs to make sure they match the application . I have caught different zip codes, misspelled street names, etc.
4. Do some quick math on YTD. A lot of fake stubs mess up somewhere.
5. Pay attention to if they are “salary or hourly.” If something look off on hours, then it won’t add up.
6. He has listed “Independent contractor.” If he turns in stubs where taxes are being taken then something is off. IC’s get 1099’s and taxes are not taken.
7. Fake bank statements will be turned in as well in some cases. If you question them, check for spelling. I’ve had someone turn in 3 months worth of statements but the bank name was spelled wrong and all she had was deposits into the account. No debits. You can also take the statements to the bank to verify if they are from their company.

Ask for his W2

6 months of bank statements and 2018 tax return

On the bank statements, we suggest that they log into their account in our business center and print off the statements. If needed, we follow up with a bank verification that we receive directly from the bank.

Thank you all. We will ask for bank statements which we have done before with other applicants

Income tax return

In Florida we would look up the business on Sunbiz.org to make sure the business is legit.

If his not paying taxes we don't consider it.

Independent contractors pay taxes differently. Last years tax returns and bank statements will help.

Ask for bank statements and see if he has income coming in. If not I'd ask for a cosigner or increase deposit.

Make sure with fair housing you don't do any different verification from you would another applicant. As long as we had a paper trail and the documents were legit, let it go. Even with a 100% clean non contractor background approval, they could still not afford rent, skip, etc. Just follow the same you would for any other applicant.

Bank stamnt showing money being deposited to match pay stub maybe. I’m self employed and the loan company needed to match. Y stubs with my deposits for the last 3 months.

Update; he says he does not have a bank account as he cashes the checks at PLS. He also says he does not have tax returns as he does not file. I think we will have to deny this one as I can verify anything. No rental history etc. The pay stubs with no taxes taken out might be falsified as I thought