How Does a ThePayStubs Help to Rent a House?

Nowadays the market rate of rentals is pretty high and it's hard for many to pay for their apartments. The landlords are feeling like taking the risk to let any new member in to stay for rental. Landlords to minimize the risk of having late payment or face the eviction process, take certain precautions at the beginning itself.

They check the tenant’s credits, previous rental history, and paystubs to make sure the tenant is capable of paying the rent on time or not. Here you will know how does the paystub helps you in the rental process.

Check stub maker provided by ThePayStubs which delivers easy payslips online. Let’s head to the process of renting an apartment or house using paystubs.

Application

Before confirming the house to you, the landlord will ask you to fill an application and will require you to submit certain documental proofs like your credit check, employment, and a fee for the application. They will also ask for any proof for your identification and the contact of your previous landlord for having a friendly inquiry about you. If u fail to provide any one of these requirements, then you may not get the home.

Income Details

In some cases, the landlords will expect you to have a minimum income level to assure your ability to pay the rent on time. To submit as proof, a paystub can be used, but if you are new to the job, an offer letter from your boss will also do. In exceptional cases, some landlords expect the contact details of your company to check on your employment status.

Self Employed

As mentioned previously, ThePayStubs can be used as proof for financial stability but people working as self-employed, freelancers, or in contracted jobs may not have a paystub. In this case, you can provide the tax statement and bank statement to the landlord to ensure the study influx of cash in your account.

If you don’t belong to any of the above-given options then you have other options like:

Guarantee

If you are a student or paying the rent with your savings you may not be in a position to show your paystub, instead, you can deposit money worth of 2 months rent as an advance or get a guardian signature who will be taking responsibility for you in the future if anything goes wrong.

Bank Statement

If you don’t have a traditional paystub you can always show your bank statement to show the flow of your money. Submit a sample of two months' bank statement through which one can learn the transaction and how much you are paid.

ID Proof

Submitting a copy of any official ID proof to the landlord can be a must in such situations. This will bring some level of trust to the owner to rent the house. This is because if anything goes wrong the landlord can take legal action with a copy of your ID proof. Such proofs can include a driver's license, a state ID, passport, or green card.

Vehicle Insurance

If you own any type of vehicle, the landlords will need to check for their registration and insurance details. This is to approve the number of vehicles that can be parked because some apartments will have restrictions on the number of vehicles per house.

Social Security Details

It is not safe to hand out your social security number to anyone but some potential landlords tend to ask for this number. Because they will conduct a background check by themselves for extra verification of your financial stability before renting the house. But you don’t have to provide a copy to them as it is only for a one-time check.

Conclusion

Since most of the landlords nowadays expect their tenants to submit the recent paystubs, you can carry a copy with you even before they ask for it. This can be done easily if you have a direct deposit of money to your account or ask your boss for a copy which can also be done through the paystub makers. But if your job does not provide a paystub or if you are still a student, the above-mentioned proofs will be sufficient.