Income Verification Requirements for Defaults

When you submit a default request, we’ll need proof of your renter’s income. This helps our team verify eligibility and process reimbursements quickly — without back-and-forth delays. The guide below outlines what’s accepted, what isn’t, and how to make sure your documentation checks all the boxes. 

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What You Can Submit

✔ Pay Stubs

• Current stubs required 
  • Pay stub dates must align with the resident’s application date.
• Two (2) pay stubs if paid every 2 weeks (or four (4) if paid every 4 weeks)
• Must show: Company Name, Applicant Name, Pay Period, and Gross Pay

✔ Employment Offer Letter

• Must be on official company letterhead
• Include: Applicant’s Name, Full/Part-Time Status, Rate of Pay or Salary, and whether the position is Permanent or Temporary

✔ Self-Employed Applicants

• Provide one of the following from the previous year:
  • Tax Return
  • K-1
  • 1099
  • W-2
• Include 1–6 months of recent bank statements to confirm active self-employment.

✔ Gig Workers

• Examples include CashApp, Instacart, DoorDash, Uber Eats, Lyft, Grubhub, Walmart, and similar platforms.
  • Must show: Applicant Name, Statement Period, and Clear Income Amounts with Dates
  • Paystubs or platform statements are acceptable

✔ Independent Contractors

• Provide previous year’s:
  • Tax return, 1099, or W-2
• Or a notarized letter from the employer/payer verifying income.

✔ Unemployment

• Official unemployment letter that includes:
  • Weekly amount received
  • Start and end dates
  • Applicant’s name

✔ Retired Applicants or Fixed Income

• Accepted documentation includes:
  • 401K or investment account statement
  • Social Security income document
  • Disability income documentation

✔ Housing Assistance

• If the renter uses a housing voucher:
  • Provide the official voucher or qualification document that includes:
    • Total rent amount and voucher amount
    • Start and end dates
    • Applicant’s name
  • This information allows us to calculate the renter’s personal portion of the rent used for income qualification.

✔ Child Support

• Provide the official court-issued child support document showing:
  • Applicant’s name
  • Child’s name
  • Support amount
  • Duration of support

✔ Bank Statements

• Must include:
  • Applicant’s name and address
  • Statement period
  • Bank logo and address
  • Clear, legible deposit details

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Third-Party Verification Tools

We also accept income verification through approved third-party tools (i.e. TwoDots, Snappt or Plaid etc).
We would need the following information:

• Exported report and/or screenshot from the third-party system. The applicant's name must be visible, in addition to the final calculated income-to-rent ratio.
• Any backup documentation that was uploaded in the third-party platform (such as bank statements, or confirmation of linked bank accounts).

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What We Cannot Accept

To help you avoid delays, here’s what’s not accepted:

• Bank statements without full info or clear deposits
• Direct deposit emails/notifications missing company, applicant, or pay period details
• Handwritten letters that aren’t notarized

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Quick Tips for a Smooth Process

• Double-check documents are clear and easy to read.
• Make sure to submit documents for all applicants/renters of the unit.
• When in doubt, reach out to the Defaults Team before submitting.

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