Property managers make it clear that it’s important to verify a tenant’s job and income.
Why isn’t it just as important to verify a tenant’s debt? If a lender isn’t going to lend money to a person without verifying debt, why shouldn’t a property manager?
This includes loans, credit cards, medical bills, student loans, etc. These amounts can change, and they aren’t always due when the tenant is applying. For example, student loans can show up, but not yet due to be paid. Credit cards might have a low payment, but are they on some sort of no interest promotional period?
Income is great, but it’s not the only thing that should be considered when qualifying a tenant.