If you’re managing rental properties in San Diego, Phoenix, or Las Vegas by yourself, one part of the tenant screening process is requesting a prospective tenants' paycheck stubs so you can verify that they earn an income that’s three times the rent.
Sadly, in today’s world, it’s possible to encounter fake paycheck stubs because some tenants may choose to create their own using generic paycheck stubs and graphic design tools that they find online.
Thankfully, even though it’s not difficult for a prospective tenant to fake a paycheck stub these days, you can know what to look for when you follow these tips.
Tip #1 – Look For A Lack Of Professionalism
One clear ‘red flag’ when reviewing an applicant's paycheck stub is a clear lack of professionalism. This means that if the paycheck stub looks like it was poorly copied, contains spelling errors, or has fonts that don’t match, these are all clear signs that the paycheck stub is likely fake.
Tip #2 – A Paycheck Stub With Round Numbers
Another sign that a paycheck stub is fake is if it has round numbers for the monthly earnings.
Employees rarely paycheck stubs with round numbers so if you receive one with earnings like $3,000 per month, then it’s possible that those earnings are unrealistic and should be scrutinized.
Besides round numbers, you should also be on the lookout for paycheck stubs that use capital letters instead of using the correct numbers in them.
Tip #3 – Inconsistencies On The Paycheck Stub
Last of all, but most important, if a paycheck stub has inconsistencies like an address that’s different than the address that a prospective tenant gave you, this is another clear sign that the stub is probably fake because the applicant's address must match up with their other personal documents.
Contact GoldenWest Management
At GoldenWest Management, we specialize in managing multifamily and single-family properties in San Diego, Phoenix, and Las Vegas.
Our team will take care of the all the tasks that come with managing rental properties so that you can enjoy the passive income that comes from owning rentals.
To learn more about the services that we can offer you, contact us today by calling (866) 545-5303 or click here.
