What income sources can I provide to verify that I'm qualified?

Income

  • All applicants are required to supply reasonable, reliable, and legal documentation on all income; all documentation on income is required in a timely manner.
  • Examples of income are employee records, income tax records, social security documentation, monthly stipends, trust funds, and other sources that will reflect the ability to make monthly rental payments.
  • If one or more of the applicant(s) will be receiving income from a third party, that party must apply and be processed as a cosigner. Please see cosigner qualifications and responsibilities here.
  • RPM must be able to verify all income sources, and reserves the right to disqualify applicants for failure to prove income, supply adequate documentation, or prove the ability to support rental payments.


Principle of Income Verification: The combined gross monthly income must be at least three times the monthly rent and must be verifiable. (See "What are your qualifications to rent?")


Allowable Income Document Types that we'll accept to verify your income.

  1. Pay Stubs (Regular, Letter from employer confirming tips if not listed, IHHS - In Home Health Support, etc.)
  2. W2
  3. Tax Returns
  4. Bank Statements
  5. Offer Letters
  6. Social Security Income Award Letters
  7. Financial Aid (FAFSA Award Letters, etc.)
  8. Trust Funds
  9. Monthly Stipends
  10. Letter of Employment (if recently hired)


Not Allowed

  1. Hand written notes
  2. Manually created spreadsheets
  3. Cash deposits in bank account
T01a. RPM Prequalification Questions v.1217
T01. RPM Application Instructions v.0518