Cancelled checks
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Cancelled checks (by Jason [VA]) Feb 22, 2021 5:14 PM
       Cancelled checks (by Jim in O C [CA]) Feb 22, 2021 6:10 PM
       Cancelled checks (by DJ [VA]) Feb 22, 2021 6:56 PM
       Cancelled checks (by Dee Ann [WI]) Feb 22, 2021 9:33 PM
       Cancelled checks (by plenty [MO]) Feb 22, 2021 11:47 PM
       Cancelled checks (by Robert J [CA]) Feb 23, 2021 4:35 AM
       Cancelled checks (by Ken [NY]) Feb 23, 2021 7:03 AM
       Cancelled checks (by Jane [TX]) Feb 26, 2021 12:23 PM
       Cancelled checks (by Jane [TX]) Feb 26, 2021 12:30 PM
       Cancelled checks (by GKARL [PA]) Feb 26, 2021 1:30 PM
       Cancelled checks (by Small potatoes [NY]) Feb 28, 2021 11:59 PM

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Cancelled checks (by Jason [VA]) Posted on: Feb 22, 2021 5:14 PM

On my application, I now require six months worth of rent payment proof (cancelled checks, ACH receipts, bank statements, whatever). I had an applicant turn in pictures of six checks. One after the other after the other, All in numeric order. The funny part was THEY WERE ALL STILL IN THE CHECK BOOK! Not carbon copies, the actual checks!

It really made me laugh. So of course, I dig into the property records and wouldn’t ya know, he’s living with mommy and daddy. Even though he clearly said on the app the landlord wasn’t a friend or family member. Next!

Cancelled checks (by Jim in O C [CA]) Posted on: Feb 22, 2021 6:10 PM

Crooks tend to have a very low IQ. I have one applicant go to H&R Block and make up a phony tax return. All of his numbers were around at all, $110,000 income, $40,000 business expense and $25,000 travel expense

He was not smart enough to use some odd numbers so it even looked somewhat legitimate plus the tax return was stamped draft from H&R Block.

Cancelled checks (by DJ [VA]) Posted on: Feb 22, 2021 6:56 PM

Oh, brother! (eye roll)

Why only six months instead of a year?

I am also considering specifying what constitutes "proof". Perhaps copies - front & back - of cleared checks (although they need to understand I won't be taking checks). Bank statements showing timely ACH transfers? Official accounting from current landlord? Some landlords won't bother to help if they are losing a tenant, but maybe they would for a really good tenant, leaving on good terms?

If they pay by an app like Zelle, can they print out a report?

Cancelled checks (by Dee Ann [WI]) Posted on: Feb 22, 2021 9:33 PM

Sounds like the time I helped Mom find a tenant in VA after my Uncle died.

Called the current landlord listed on the guys application. Something was fishy. She sounded so odd during the conversation. I asked how well she knew him and she said quite well; I asked if she was his girlfriend. When I looked up the records of where he rented, I realized I was talking to his mother. He didn't even think to change his mom's name. Although the last name wasn't the same, it was obvious as further investigation proved. And she was covering for him!

Cancelled checks (by plenty [MO]) Posted on: Feb 22, 2021 11:47 PM

Im goin to start asking for 6 months payment history. When i ask for two months bank statements i can see if they pay the rent sometimes it's not there, cleaver to write out the checks. I'm surprised they even had checks to begin with!

Cancelled checks (by Robert J [CA]) Posted on: Feb 23, 2021 4:35 AM

It's insane how negative we have to treat our applicants these days. In the past we could think of giving someone the benefit of the doubt, so long as we review their credit history. But no more...

Cancelled checks (by Ken [NY]) Posted on: Feb 23, 2021 7:03 AM

Funny thing is that is exactly how one of my buyers pays me the mortgage payments he owes me,he will write me 24 checks out of a checking account and fill in everything but the date then when it is due i fill in the date and deposit it although they are cashed but it would still look odd if he tried to do a refinance

Cancelled checks (by Jane [TX]) Posted on: Feb 26, 2021 12:23 PM

For my new applicants, in addition to signed rental history questionnaire from prior landlords, I ask for proof of rent payments for 2 years (cancelled checks, Zelle or bank withdraw history), 6 months of pay stubs, and 3 months of bank statements. I prescreen them, so those who doesn't have these are not qualified to view the home in the fist place. Everything must be verifiable. All those who applied are pretty well qualified and serious. Not taking any risk at a time like this.

Cancelled checks (by Jane [TX]) Posted on: Feb 26, 2021 12:30 PM

p.s. Actually applicants are pretty understanding of these tighter screening measures, that we are in an uncertain time and landlords need to be extra careful. No one had any issues providing them. I am upfront about the requirement of have savings for emergency funds also.

Cancelled checks (by GKARL [PA]) Posted on: Feb 26, 2021 1:30 PM

I have a couple apartments on the market right now. I plan on asking for years worth of canceled rent checks and bank statements. I want to see them clearing the bank. This is good to see if they have late pays on the rent as well.

Cancelled checks (by Small potatoes [NY]) Posted on: Feb 28, 2021 11:59 PM

Jane, are you renting to c tenants? I can't even get 2 ll to call back sometimes let alone fill out a written form. How do you know those aren't faked? An application for me is not complete if I can't talk to ll. Larger complexes will make me put what I'm asking in writing, w proof of permission from prospect but there are not complexes by my.

Jason I keep a receipt book handy otherwise tenant receives Email confirmation when I process rents. And no one has checks anymore. Young couple was using a parents check to pay rent. My gall is to get to all automated, but several still pay by no. I have not gone so far as to ask for proof of rent, but with the last year in the mirror it makes sense.

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