INCOME VERIFICATION (APPLICANT VIEW)

About Income Verification:

• Provides streamlined solution for applicants to submit income verification information

• Required only if a The Work Number (TWN) record is not returned for the affected applicant

• Requires properties to use auto-screening through Yardi’s screening product (ScreeningWorks PRO)

• Allows applicants to securely connect their bank account, upload a copy of their most recent paystub, or indicate that they will not be contributing income to the application

• Requires all lessees on the application

The applicant will complete payment for the application charges via Online Leasing.

After application charges have been paid and all applicants have completed their application, screening is processed. 

When all services have completed for all included applicants, the Income Verification section will be displayed at the bottom of the page.

For group applications where each individual must complete their own application, applicants will receive an email notification when screenings are complete and the Income Verification section becomes available.

Applicants who do not return results for TWN, or TWN records results in insufficient funds, the applicant will receive an email invitation to complete the VOI process.  

From the email invite, the applicant will select Complete Application.

When an applicant begins the VOI process by selecting Get Started from the email invitation, they will have the option to connect through their bank account(s) or bypass the income verification process as a non-contributing applicant.

The resident will click the 'Verify Income' button and the income verification options appear on a small pop-up screen.

Connect Bank Account

Applicants will see the banking forward widget which will encourage them to link their bank account or choose that they are not contributing income to the application.

When the applicant select the connects account button, they will have the option to log into their bank account or their payroll provider. 

To connect a bank account, select Connect Bank Account.

The applicant will be asked to select a checkbox authorizing your property’s management company to access the data that will be provided by their bank account before clicking Continue.

A brief explanation of the Open Banking connection process is provided to the applicant before they click Next.

What if an applicant has concerns regarding sharing their banking and pay stub information.  What information is available to share with applicants?  Please see the FAQ section for more information.

The applicant will be asked to choose from popular banking options, or to locate their bank through the search bar.

Please see the Supported Institutions page for a list of Financial Institutions which have gone through the certification process.

After choosing the desired bank, the applicant will click Next to proceed to the login page to connect their bank.

The applicant will be asked to complete their banking user ID and password before submitting.

The applicant can select all accounts that apply by selecting the radio button next to each, and then click Save to submit their choice(s).

If the applicant needs to add any additional accounts from another bank, they can choose Add another bank.  They will then repeat the process of adding a bank account.

When finished, the applicant should click Submit.

If the applicant wants to add another bank account, they can select "+ Add new account."

The final screen provides a confirmation that the information has been submitted successfully.

Connect Payroll Account

When your applicant opens the VOI invite, they will have the option to log into their bank account, or their payroll provider.  Applicants will see the banking forward widget which will encourage them to connect their payroll account.

To connect a payroll account, select Connect payroll account.

Connecting a payroll account will reduce the number of paystubs being uploaded and ensure that income and employment information comes directly from the applicant's payroll provider. This not only reduces the potential for fraud but also speeds up the income verification process.

If the applicant chooses to connect their payroll provider, they will be prompted to select their employer or payroll company. After logging into their payroll account, the system will automatically retrieve information from their last three payroll periods and display the results directly on the screening results page, similar to the banking option.

Tip: Applicants with Uber and Lyft can use this option.  

The applicant will be asked to agree to terms authorizing your property’s management company to access the data that will be provided by their payroll account by clicking Continue.

The applicant will be asked to choose from popular payroll provider options, or to locate their payroll provider through the search bar.

The applicant must complete the required information to connect to their payroll provider, then click Continue.

The information will be validated by the payroll provider.

The applicant completes their invitation by clicking the Continue button.

Upload Pay Stub

Applicants could upload a paystub when they are unable to connect to their bank account, payroll account or exiting out of the banking workflow. 

As a fallback option, the applicant will be offered the paystub upload workflow, and can choose Upload pay stub.

Read the 

The applicant will be asked to agree to the terms by selecting Continue.

The applicant will be asked to upload their most recent paystub by clicking Select File and browsing their computer. Once uploaded, the applicant will click the Next button.

The applicant completes their invitation by clicking the Continue button.

Bypassing Income Verification for Non-Contributing Applicants

For applicants who are part of a group application but will not be contributing income to the application, the applicant will be able to indicate this during the Verification of Income (VOI) process by selecting the link, "I am not contributing income."

The applicant completes their invitation by clicking the Continue button.

Connecting through a bank account or payroll account takes an average of 3 minutes to process, and uploading a paystub takes an average of 11 minutes to process. 

During this time, a message is displayed informing the applicant that the information is currently being processed. This message is also displayed if any information submitted for income verification needs to be reviewed by the property.

When income verification is complete, and any flagged information has been reviewed as necessary, the Income Verification section will update and indicate that the applicant can complete any remaining steps. 

This message will not appear if the resulting verified income causes a Rent/Income ratio-based rejection.

*NOTE: If Income Verification results in a rejection due to verified Rent/Income ratio, the applicant will continue to see the “Your application is currently being reviewed” messaging.

See Items to Review & Overview Statuses for more information on what to do in this scenario.

Depending on your property’s auto-approval settings, the applicant will see a congratulatory banner and can proceed to steps to finalize their lease.