INCOME VERIFICATION PROCESS (SITE TEAM VIEW)

When an applicant completes the application fees section in Online Leasing, after a credit screening is ran, Yardi will perform a search to determine if there are any work records for the applicants in The Work Number. (i.e. An employer sends payroll records to The Work Number.  Applicants who are self-employed may not have payroll records documented in The Work Number).

For applicants who do not return a record in The Work Number (TWN), Yardi will initiate the VOI service for income verification. 

In addition, starting on 10/7/2024, the VOI link will automatically send to applicants to invite them to complete the Verification of Income process if The Work Number record returns an insufficient income result. (see VOI Link (On Demand) page for more information).

This feature limits the involvement of leasing teams. This will decrease the turnaround time for moving applicants through the leasing process, and initiate quicker approvals.

If the application result is rejected due to previously run services, the VOI service for the income verification will not be launched.

When VOI is initiated, an invitation email for VOI will be automatically sent to the applicant(s) and the application result will remain pending until the applicant(s) complete their VOI invitation.

The invitation email lasts for 72 hours. Applicants have 72 hours to complete income verification.

Applicants will be asked to complete their income verification by securely connecting their bank account or uploading a copy of their most recent paystub. 

VOI - DECLINE APPLICANT

When an income verification is ran, the process goes through a verification that involves a search using The Work Number (TWN) + Verification of Income (VOI). 

If the application result is rejected due to previously run services, the service for the income verification will not be launched.

VOI - PENDING

If the application result is accepted or conditionally accepted, the VOI service for income verification will be launched. 

For applicants who do not have a TWN record returned, the application result will remain in "Pending" status until the applicant completes the VOI service by either connecting their bank account or uploading a paystub.

Red Checkpoint Messages

If a red flag checkpoint message appears in the credit report, the applicant will remain in "Pending" status until a Leasing Team Member has reviewed the file and entered the Review Report Acknowledgment (RRA) token.  Then, the income verification process will commence.

See Pending Items to Review section in the Leasing Workflow User Guide for more information.

Use the Checkpoint Messages Guide for assistance with interpreting the messages and what course of action should be taken depending on the message returned. 

VOI - ACCEPT APPLICATION - INCOME VERIFIED

When the VOI process is complete, the application result will no longer be pending, the Income Verification search will be marked as “Complete,” and the income information will be displayed under the Income Verification tab. “Income Verified” will display under the Income Verification tab.

In the Income Verification tab under The Work Number section, click on the PDF icon under Report to view the report results.

Email Notifications

Your property will receive a notification email once the VOI service has completed.