April 22, 2025

What Is Proof of Income? (And How to Get It)

Before handing over the keys to a unit, you need to be confident your tenant can afford the rent—verifying proof of income helps you do exactly that. Getting proof of income is a vital step in screening applicants, delivering critical insights into a renter’s financial stability. 

Not sure where to start? We’re breaking down how to get proof of income and what precautionary measures to take to avoid fraud and maintain legal compliance.

Quick Insights

  • Proof of income confirms a renter’s ability to pay rent and avoid future payment issues.
  • Request multiple legitimate documents, like recent pay stubs, tax returns, or bank statements, to get a clear view of a renter’s financial stability.
  • Beware of red flags that might suggest fraud, such as inconsistent pay stubs, mismatched employer information, or high earners with zero online footprints. Don’t hesitate to follow up or request more documentation.
  • Use verification tools like Snappt to detect fraud and validate documents automatically—saving time and reducing risk.
  • Stay legally compliant and consistent by applying the same screening standards to every applicant, including self-employed renters.

What is Proof of Income?

Before letting just anyone sign your lease, you want to know whether they can afford to pay rent. Start with proof of income. 

Proof of income simply refers to one or more documents an applicant shares with a landlord or property manager to confirm their ability to pay monthly rent and any other bills. Providing proof of income has become the norm in the rental application process.

Why is Getting Proof of Income Important?

Requesting and verifying an applicant’s income can help you better protect yourself in several ways. For starters, this practice reduces the risk of renting to individuals who may struggle to make payments on time.

Getting proof of income also helps sift through any possible fraudulent applications. Proof of income requirements allow potential tenants to evaluate their budgets more accurately and decide if they can actually afford the rent each month.

Here are some additional reasons to get proof of income:

Financial dependability. Getting proof of income from rental prospects gives you peace of mind that an applicant has a steady source of funds to pay rent, utilities, and other common monthly bills.

Minimizes risk. When you verify a renter’s income, you lower the risk of default payments and late payments. This can help stop expensive and lengthy eviction proceedings or disputes over past-due rent.

Legal protection. Some jurisdictions require property managers to conduct reasonable due diligence when screening prospective renters. Proof of income can provide evidence that you’ve taken steps to assess a prospect’s ability to pay rent thoroughly, providing legal protection in case of disputes or litigation.

5 Ways to Collect and Verify Proof of Income from Renters

Not sure which documents to collect from rental applicants or how to ask? Keep reading to see how to get proof of income and what to ask for. 

1. Request Documentation

As part of the tenant screening process, include a request for proof of income from applicants. Some common proof of income documents include recent: 

All documents submitted should be current and legitimate. You’ll also want to request the two most recent pay stubs. This helps determine whether the applicant’s income shifts from month to month, how frequently they’re paid, and more.

2. Communicate Directly

Engage with potential tenants directly to discuss their current financial situation. Clear and direct communication can help you verify the information provided in their documents and shed light on their employment status, income stability, and any other financial challenges.

3. Cross-check with Public Data

Next, it’s time to do a bit of online research. Websites like Salary or Glassdoor typically show the average salary for a given role in your area. If the results don’t add up, ask more questions to clarify with the applicant.

You can also verify whether an employer exists by:

  • Googling the company—does it have a legitimate website and/or social media platforms?
  • Looking up the business on your state’s Secretary of State website
  • Checking if the business address is a commercial location (rather than a random apartment)

4. Use Verification Services

Consider using income verification services like Snappt or background check companies to validate an applicant’s income and employment status. These services offer a more reliable and comprehensive report of someone’s financial capabilities.

5. Know the Red Flags (and What to Do Next)

Be extra vigilant in identifying fraudulent proof of income documents, keeping an eye out for falsified pay stubs or made-up verification letters. Always confirm the authenticity of documents by cross-checking information with other sources or by reaching out to employers directly.

Here are some proof of income red flags to watch out for:

  • Mismatched employer information across documents
  • Credit history that doesn’t match a high income
  • Listing businesses that seem to be personal projects or family-run operations without a professional presence
  • High earners with no online footprint or business presence
  • Inconsistent pay stubs
  • A misspelled employer name and/or logo

Sometimes, things seem off or don’t add up. When that happens, it’s okay to slow down and investigate further.

When in doubt, don’t hesitate to request additional proof of income. If you’re still not confident, it’s best to trust your gut rather than risk payment issues down the line.

What to Consider When Gathering Proof of Income

Fraud, authenticity, legal considerations—there’s a lot to consider when gathering and verifying proof of income. But that’s not all. Here are some extra considerations to keep top of mind when getting proof of income.

Legal Compliance and Consistency

Get familiar with local rental laws and regulations governing the collection and use of proof of income. Follow fair housing practices and ensure your screening process meets the terms of anti-discrimination laws to prevent any legal hiccups.

Use the same income verification criteria for every applicant, no matter their background, profession, or how polished (or unpolished) their documents look. When you apply different standards to different renters, even unintentionally, you risk discrimination claims.

The Fair Housing Act prohibits discrimination based on: 

  • Race
  • Color
  • National origin
  • Religion
  • Sex (including gender identity and sexual orientation)
  • Familial status
  • Disability

Set clear income requirements upfront, like a minimum monthly salary relative to rent, and stick to them. Apply the same documentation requests and review methods for each applicant. 

And what if the renter is self-employed or is in another unique situation? In these cases, consistency doesn’t mean treating every document the same. It means applying the same standards

For example, if your screening process is to verify that monthly income is at least three times the rent, that standard still applies, regardless of whether someone submits a pay stub or a profit and loss statement. That’s how you stay fair and flexible.

Always document your process. That way, if a question comes up, you have a clear record of your screening process.

Self-Employed Applicants

Self-employed doesn’t mean unqualified. But it does mean that the income verification process for these potential tenants looks a little different.

Since no employer provides regular pay stubs, you’ll need to see alternative documentation that clearly shows consistent earnings.

The most helpful documents to request from self-employed or freelance tenants include:

  • Profit and loss statements
  • Bank statements showing regular business income
  • 1099 forms from clients

Tax returns from the last one to two years can also provide a more complete financial picture. But make sure they match what’s in more recent records.

Consistency is key here. A few big deposits don’t necessarily mean a stable income, so look for steady earnings across several months. If the tenant’s business is newer, a signed letter from an accountant or a new client contract can help confirm that the income stream is ongoing.

If you spot any beige flags like seasonal dips or recent business changes, don’t dismiss them immediately. Ask the applicant for an explanation. Remember, transparency builds trust.

Don’t Just Detect Fraud — Prevent it

Fraud prevention should begin before applications even land in your inbox. Setting clear expectations and processes from the start—like requiring current documents, verifying employment, and scanning for inconsistencies, can deter fraudsters from even applying.

Make it harder to cheat the system by requiring original file uploads (rather than screenshots or scans) and requesting multiple forms of proof of income. For example, request a pay stub and a bank statement, or even more documents for ultimate peace of mind.

Cross-reference the proof of income documents. Do the deposit amounts line up with the income claimed? Is the employer consistent across all the documents?

Tools like Snappt deal with fraud detection by automatically detecting document tampering that’s almost impossible to spot manually—like misaligned fonts and fabricated deposits.

Protect Your Property with the Right Income Verification Process

Getting proof of income is critical to assess a prospective renter’s financial stability, reduce risks, and ensure legal compliance.

But remember, the goal is to protect your property, income, and time, rather than to catch tenants. Follow the proper steps and procedures on how to get proof of income to avoid unnecessary risk and build trust with the people who are exactly who they say they are. 

Request the right documents, engage in direct communication, and use income verification services like Snappt so you can make educated and informed decisions throughout the tenant screening process.

Ready to protect your properties?

Chat with our sales team to learn about our comprehensive fraud solution

Let’s Talk