Are you planning to use Zillow's Rental Manager as a tool to vet potential tenants, but wondering if it verifies income? You're not alone. Checking applicant income is a critical step in the tenant screening process, and many landlords rely on technology to help streamline this task. However, it's important to understand what Zillow's Rental Manager does and doesn't do when it comes to income verification.
As of now, Zillow's Rental Manager does not directly verify income. The tool is designed to simplify and organize the tenant screening process, but it does not include a feature to independently confirm a tenant's income or employment. Instead, it helps you keep track of and manage the necessary documents and information.
What Zillow's Rental Manager Offers
While Zillow's Rental Manager may not verify income, it does offer a range of features that can aid in your tenant screening process:
It allows you to create a customized application that can include income as one of the fields to be filled out by potential tenants. This way, you can gather the required details to perform your own income verification.
Customizable Application
You can design your application form to include income and employment details, making it easier to collect this crucial information from potential tenants.
A template is provided, but you can customize it to better suit your specific needs and local laws.
Integrated Third-Party Services
Zillow's Rental Manager also integrates with third-party services that can assist in tenant screening, including background checks, eviction records, and credit checks. However, these services may or may not verify income as part of their reports.
These integrations streamline the process but again, income verification is typically not included in the background check reports.
Income Verification Alternatives
Since Zillow's Rental Manager does not verify income, you will need to use alternative methods to confirm a tenant's income:
Contacting Employers
One common method is to contact the applicant's employer to confirm their income and employment status. You can use the information provided on the application form to reach out to the employer.
This can be done through a simple phone call or email, but be mindful of any local laws regarding employer verification and keep written records of all contact attempts.
Using Pay Stubs or Tax Returns
Another way to verify income is to request recent pay stubs or tax returns from the applicant. These documents can provide evidence of the tenant's income and employment status.
Be sure to compare the income claimed on the application with the income shown on the pay stubs or tax returns. Keep these documents on file as part of the tenant's record.
Credit and Income Reporting Agencies
There are services that combine credit checks with income verification, providing a more comprehensive tenant screening report. These services typically require a fee, but they can save you time and effort in the screening process.
Examples include The Work Number and Plaid. They allow you to verify income alongside other factors, like credit history and eviction records.
Finally, it's essential to stay informed about your local laws and regulations regarding tenant screening and income verification. Some areas have specific rules about what you can and can't ask for on an application, and how you can verify the information provided. Always ensure you're following all applicable laws and guidelines during the tenant screening process.
In the fast-paced world of rental property management, landlords rely on technology to simplify and expedite tasks. While Zillow's Rental Manager is an excellent tool for managing the tenant screening process, it's crucial to understand its limitations. Income verification is not something that can be left to automated technology alone. Instead, it requires a combination of technological aids and hands-on verification methods to ensure the income information provided by applicants is accurate and reliable.