Employment verification?

shifthappens · 10-29-2016, 05:59 PM

I have been watching the forum for several months as I plan on relocating to Laconia next June when my son graduates from HS and goes off of college. My question is that I will be renting but I see some rentals in NH require employment verification before they rent. I am 73 and retired so I am not employed although I plan on hoping to have a part time job to have something to do. Does anyone know if the 'employment verification' is a norm in Laconia? If so, I may be SOL. My credit rating is excellent and have had no debts whatsoever in years. Thanks for any response and I look forward to 'returning' to NH as I was born in Manchester but have not been there in years.

nhcatrider · 10-29-2016, 06:04 PM

I verify income before I allow anyone to sign a lease, perhaps that is what they are looking for?

shifthappens · 10-29-2016, 06:07 PM

Quote:

Originally Posted by nhcatrider

I verify income before I allow anyone to sign a lease, perhaps that is what they are looking for?

Thanks for your quick reply. So does that mean I could not rent in Laconia as my only proof of income is Social Security?

TheTimeTraveler · 10-29-2016, 06:25 PM

Quote:

Originally Posted by shifthappens

Thanks for your quick reply. So does that mean I could not rent in Laconia as my only proof of income is Social Security?

No. You could rent in Laconia (or anywhere else for that matter). Social Security is in fact a source of income.

The question really becomes: "Can Social Security alone support the financial needs to rent an apartment".

.

shifthappens · 10-29-2016, 07:11 PM

Thanks for your reply. I must admit that I'm really disappointed that after many months of looking forward to moving here that I will most likely be denied a rental even though I have an excellent record for paying the rent for the past 7+ years where I have resided plus an outstanding credit rating. I never thought of having this problem. I have saved quite a nice savings over the years but I would never submit that amount for information as that is personal and private. It looks like I must look into another option (area) where the rental requirements are not based on income but rather past financial history such as where I have been living without any problem. So much for retirement and being 73. Thanks for your input.

joey2665 · 10-29-2016, 07:29 PM

Quote:

Originally Posted by shifthappens

Thanks for your reply. I must admit that I'm really disappointed that after many months of looking forward to moving here that I will most likely be denied a rental even though I have an excellent record for paying the rent for the past 7+ years where I have resided plus an outstanding credit rating. I never thought of having this problem. I have saved quite a nice savings over the years but I would never submit that amount for information as that is personal and private. It looks like I must look into another option (area) where the rental requirements are not based on income but rather past financial history such as where I have been living without any problem. So much for retirement and being 73. Thanks for your input.

Part of the verification process usually includes your last two years tax returns. If you have a decent saving but obviously do not want to disclose the amount, your interest and dividends along with your social security could get you where you need to be.

shifthappens · 10-29-2016, 08:03 PM

Quote:

Originally Posted by joey2665

Part of the verification process usually includes your last two years tax returns. If you have a decent saving but obviously do not want to disclose the amount, your interest and dividends along with your social security could get you where you need to be.

Thanks Joey.

Macavity · 10-29-2016, 09:52 PM

Quote:

Originally Posted by shifthappens

It looks like I must look into another option (area) where the rental requirements are not based on income but rather past financial history such as where I have been living without any problem. So much for retirement and being 73. Thanks for your input.

As an old person, I would expect to provide the same information as a younger person whose income and rent don't match up. Why not contact a few landlords and ask what that is?

mac

shifthappens · 10-29-2016, 10:29 PM

Quote:

Originally Posted by Macavity

As an old person, I would expect to provide the same information as a younger person whose income and rent don't match up. Why not contact a few landlords and ask what that is?

mac

Thanks Mac. Are you sayin' I an 'old person' ? LOL The problem is if I arrive in Laconia and do what you suggest and I don't make the rental requirements as far as regular income where do I go next? I've researched the Laconia area for a long time and was convinced this was the place I wanted to stay indefinitely. I'm a retired international Resort General Manager and I can't believe how difficult this is to find a new place to live to retire given the requirements. It's crazy. I understand the precautions that you need to beware of but shouldn't a background check i.e. credit and previous landlord be enough? I'm flawless in that area. Oh well, I'm sure I'll find a place that will understand.

Macavity · 10-29-2016, 11:22 PM

Well, I was just speaking for myself as an old person.

You sound like a person who plans ahead and wouldn't just arrive in Laconia without a plan. That's why I was asking if you'd actually talked to landlords. Some of that language may be boilerplate to weed out deadbeats.

Mac

shifthappens · 10-30-2016, 01:43 AM

Thanks Mac. Yes you're right. I try to plan ahead as I'm doing this alone since my son will be off to college. We've been best friends since day one as not looking forward to him leaving. Anyway, like you suggested I contacted 3 different rental apartment companies that have properties in Laconia and explained the situation to see what their policies are. I will wait and see what they say and then go from there. I really want to settle in Laconia and hope this works out. Again, thanks for the advice.

baygo · 10-30-2016, 02:38 AM

Quote:

Originally Posted by shifthappens

Thanks Mac. Yes you're right. I try to plan ahead as I'm doing this alone since my son will be off to college. We've been best friends since day one as not looking forward to him leaving. Anyway, like you suggested I contacted 3 different rental apartment companies that have properties in Laconia and explained the situation to see what their policies are. I will wait and see what they say and then go from there. I really want to settle in Laconia and hope this works out. Again, thanks for the advice.

I think you may not be knocking on the right doors. In the past six months I've had two individuals who have moved to Laconia to work for us. Each was able to secure an apartment prior to having any claim and record.

They may have stated that they would be working for us in their application. If you find a problem please don't hesitate to come by and visit with me if you're OK working on a golf course or in the restaurant industry.

Whichever way things go I am excited for you and your move to Laconia. My wife and I took that leap a little over seven years ago and we are happier than we've ever been in life.

ApS · 10-30-2016, 02:42 AM

Quote:

Originally Posted by shifthappens

Thanks for your reply. I must admit that I'm really disappointed that after many months of looking forward to moving here that I will most likely be denied a rental even though I have an excellent record for paying the rent for the past 7+ years where I have resided plus an outstanding credit rating. I never thought of having this problem. I have saved quite a nice savings over the years but I would never submit that amount for information as that is personal and private. It looks like I must look into another option (area) where the rental requirements are not based on income but rather past financial history such as where I have been living without any problem. So much for retirement and being 73. Thanks for your input.

If you have adequate savings, make an offer to pay a full year in advance.

I once advertised a rental with the requirement that the (lowered) rent be paid one year in advance.

The ad found an area contractor who gave me a trouble-free rental for 1½ years. 'Best move I'd ever made as a landlord!

.

September · 10-30-2016, 07:40 AM

A Social Security "Award Letter" (comes every January) is sufficient for income verification when purchasing a home and requesting a mortgage, so it should certainly cover rental.

Kamper · 10-30-2016, 08:06 AM

If you participated in any formal retirement savings plan (401, Roth, employer pension, annuity, Social Security) a copy of a recent statement should also satisfy a landlord that you are financially secure. When you call for a showing, let them know you will be able to provide these alternate documents since you are not currently an active employee.

I think a 401 statement showing several hundred K, will ease the concerns of any potential landlord or management company. Don't worry about a credit report. They will normally get that themselves to verify your declarations. If you work with a realtor or management company you will probably get by with just the single 'ping' on your credit rating.

Relax. Good luck!

longislander · 10-30-2016, 09:37 AM

Ability-to-pay-rent verification takes many forms. I believe there are different means by different "landlords". The rental property I rent out in Concord is my decision, on who I rent to. Rental agencies have other requirements.

There is no legal requirement for income verification in non-governmental transactions. There could be lawsuits for discrimination, however!

Possibly, the target rental market would be more appropriate, than debating income verification.

http://www.lowincomehousing.us/NH/laconia.html

http://laconiahousing.org/housing.php

http://affordablehousingonline.com/h...shire/Laconia/

PS: Being also my 70's, I applaud you for being 73 and having a child in high school!

shifthappens · 10-30-2016, 10:45 AM

Quote:

Originally Posted by baygo

I think you may not be knocking on the right doors. In the past six months I've had two individuals who have moved to Laconia to work for us. Each was able to secure an apartment prior to having any claim and record.

They may have stated that they would be working for us in their application. If you find a problem please don't hesitate to come by and visit with me if you're OK working on a golf course or in the restaurant industry.

Whichever way things go I am excited for you and your move to Laconia. My wife and I took that leap a little over seven years ago and we are happier than we've ever been in life.

Wow! After going to bed last night feeling down I woke up to these encouraging emails. As far as employment I would like to take you up on your offer re: restaurant. I am a retired hotel/resort GM and I'm sure I would fit in wherever you can regardless. In fact, my son will be going to an intl school for Hospitality Management to follow in 'Dad's' footsteps. Thanks again and we will definitely be in touch.

shifthappens · 10-30-2016, 10:52 AM

Quote:

Originally Posted by longislander

Ability-to-pay-rent verification takes many forms. I believe there are different means by different "landlords". The rental property I rent out in Concord is my decision, on who I rent to. Rental agencies have other requirements.

There is no legal requirement for income verification in non-governmental transactions. There could be lawsuits for discrimination, however!

Possibly, the target rental market would be more appropriate, than debating income verification.

http://www.lowincomehousing.us/NH/laconia.html

http://laconiahousing.org/housing.php

http://affordablehousingonline.com/h...shire/Laconia/

PS: Being also my 70's, I applaud you for being 73 and having a child in high school!

Thanks. I really lucked out with my son. He's maintained a +4.0 GPA throughout HS and has won 3 local GoKart championships over the past 4 years. Obviously very proud and my best friend. I will miss him but I understand what he has to do for his future.

Descant · 10-30-2016, 02:38 PM

Those ads are wish lists, not hard and fast requirements. We all want the ideal tenant. You may find that individual owners of multi-family properties are more flexible than an employee who works for a large management company. I look favorably on a prospective tenant who will sign a two year lease and they pay less. Short term rentals are expensive to the landlord in terms of vacancy, fix-up advertising, showing, etc. Most prospective renters seem to work on the assumption that this is the asking price, and that's it. Most landlords will negotiate to get a top tenant. You just have to show where you're the best: Excellent credit, good references from previous landlord, previous tax returns. Sounds like you've got a lot to brag about.

Part brag, part suggestion: Another option: buy your own multi-family and live in it. Being a landlord isn't for everybody, but it can make housing very affordable. A year ago, my son, a recent college graduate, with big college loans, was living at home and working in his chosen career for a little above minimum wage while he looked for a "real" job. So, no long term job history, other debt, no landlord references. A couple of months after he started his "real" job, he bought a three family house, lives in one unit and rents the other two, so he lives close to rent free. (BTW, we gave him advice, not money, to buy the property. He saved EVERY nickel while he was living at home.)

shifthappens · 10-30-2016, 05:00 PM

Thanks to everyone for the positive comments. There is no doubt now that I will be relocating to Laconia in the not so distance future. I'll keep in touch via the forum and hope to meet some of you next July. This has been a great day thanks to all of you.

Respectfully . . . . Vince

phoenix · 10-30-2016, 07:21 PM

like you I am retired and in the process of buying a new home in Phoenix. Since I only have SS and a retirement check I had to provide a bank statement or I broker statement to show I had a way to pay . that was sufficient

Descant · 10-30-2016, 08:56 PM

Good to hear you have renewed optimism about moving to Laconia. Long story follows, but I crossed it off. Summary is, there are great people here. You are making a great choice.

shifthappens · 10-31-2016, 02:08 PM

Quote:

Originally Posted by Descant

Good to hear you have renewed optimism about moving to Laconia. Long story follows, but I crossed it off. Summary is, there are great people here. You are making a great choice.

Thanks. I can see from my 1st post here that this forum has a great group of people which has given me positive insite to the kind of people that Laconia represents and that this is the right place. 8 months till we arrive. Let the countdown begin and move quickly.

Outdoorsman · 10-31-2016, 03:27 PM

Quote:

Originally Posted by shifthappens

Thanks. I can see from my 1st post here that this forum has a great group of people which has given me positive insite to the kind of people that Laconia represents and that this is the right place. 8 months till we arrive. Let the countdown begin and move quickly.

When you say "8 months till we arrive.", do you mean you and your son?

shifthappens · 10-31-2016, 03:54 PM

Quote:

Originally Posted by Outdoorsman

When you say "8 months till we arrive.", do you mean you and your son?

Yes, my son will be off to college in January so I still have a few months to hang out with him.

10-29-2016, 05:59 PM	#1
shifthappens Senior Member Join Date: May 2016 Location: Usa Posts: 101 Thanks: 16 Thanked 8 Times in 5 Posts	Employment verification? I have been watching the forum for several months as I plan on relocating to Laconia next June when my son graduates from HS and goes off of college. My question is that I will be renting but I see some rentals in NH require employment verification before they rent. I am 73 and retired so I am not employed although I plan on hoping to have a part time job to have something to do. Does anyone know if the 'employment verification' is a norm in Laconia? If so, I may be SOL. My credit rating is excellent and have had no debts whatsoever in years. Thanks for any response and I look forward to 'returning' to NH as I was born in Manchester but have not been there in years.

10-30-2016, 07:21 PM	#21
phoenix Senior Member Join Date: Apr 2004 Location: phoenix and moultonboro Posts: 1,557 Thanks: 61 Thanked 276 Times in 194 Posts	like you I am retired and in the process of buying a new home in Phoenix. Since I only have SS and a retirement check I had to provide a bank statement or I broker statement to show I had a way to pay . that was sufficient __________________ it's tough to make predictions specially about the future

10-29-2016, 06:04 PM	#2
nhcatrider Senior Member Join Date: Mar 2014 Posts: 167 Thanks: 19 Thanked 29 Times in 27 Posts	I verify income before I allow anyone to sign a lease, perhaps that is what they are looking for?

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10-29-2016, 07:11 PM	#5
shifthappens Senior Member Join Date: May 2016 Location: Usa Posts: 101 Thanks: 16 Thanked 8 Times in 5 Posts	Thanks for your reply. I must admit that I'm really disappointed that after many months of looking forward to moving here that I will most likely be denied a rental even though I have an excellent record for paying the rent for the past 7+ years where I have resided plus an outstanding credit rating. I never thought of having this problem. I have saved quite a nice savings over the years but I would never submit that amount for information as that is personal and private. It looks like I must look into another option (area) where the rental requirements are not based on income but rather past financial history such as where I have been living without any problem. So much for retirement and being 73. Thanks for your input.

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10-29-2016, 11:22 PM	#10
Macavity Member Join Date: Feb 2015 Posts: 45 Thanks: 1 Thanked 13 Times in 11 Posts	Well, I was just speaking for myself as an old person. You sound like a person who plans ahead and wouldn't just arrive in Laconia without a plan. That's why I was asking if you'd actually talked to landlords. Some of that language may be boilerplate to weed out deadbeats. Mac

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10-30-2016, 01:43 AM	#11
shifthappens Senior Member Join Date: May 2016 Location: Usa Posts: 101 Thanks: 16 Thanked 8 Times in 5 Posts	Thanks Mac. Yes you're right. I try to plan ahead as I'm doing this alone since my son will be off to college. We've been best friends since day one as not looking forward to him leaving. Anyway, like you suggested I contacted 3 different rental apartment companies that have properties in Laconia and explained the situation to see what their policies are. I will wait and see what they say and then go from there. I really want to settle in Laconia and hope this works out. Again, thanks for the advice.

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10-30-2016, 07:40 AM	#14
September Member Join Date: Nov 2012 Location: Wolfeboro Posts: 30 Thanks: 6 Thanked 5 Times in 5 Posts	A Social Security "Award Letter" (comes every January) is sufficient for income verification when purchasing a home and requesting a mortgage, so it should certainly cover rental.

10-30-2016, 08:06 AM	#15
Kamper Senior Member Join Date: Jul 2005 Location: Thornton's Ferry Posts: 1,307 Thanks: 67 Thanked 172 Times in 128 Posts	If you participated in any formal retirement savings plan (401, Roth, employer pension, annuity, Social Security) a copy of a recent statement should also satisfy a landlord that you are financially secure. When you call for a showing, let them know you will be able to provide these alternate documents since you are not currently an active employee. I think a 401 statement showing several hundred K, will ease the concerns of any potential landlord or management company. Don't worry about a credit report. They will normally get that themselves to verify your declarations. If you work with a realtor or management company you will probably get by with just the single 'ping' on your credit rating. Relax. Good luck!

10-30-2016, 09:37 AM	#16
longislander Senior Member Join Date: Jun 2007 Location: Moultonborough Posts: 547 Thanks: 49 Thanked 100 Times in 75 Posts	Ability-to-pay-rent verification takes many forms. I believe there are different means by different "landlords". The rental property I rent out in Concord is my decision, on who I rent to. Rental agencies have other requirements. There is no legal requirement for income verification in non-governmental transactions. There could be lawsuits for discrimination, however! Possibly, the target rental market would be more appropriate, than debating income verification. http://www.lowincomehousing.us/NH/laconia.html http://laconiahousing.org/housing.php http://affordablehousingonline.com/h...shire/Laconia/ PS: Being also my 70's, I applaud you for being 73 and having a child in high school!

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10-30-2016, 02:38 PM	#19
Descant Senior Member Join Date: Mar 2006 Location: Merrimack and Welch Island Posts: 4,407 Thanks: 1,362 Thanked 1,634 Times in 1,066 Posts	Those ads are wish lists, not hard and fast requirements. We all want the ideal tenant. You may find that individual owners of multi-family properties are more flexible than an employee who works for a large management company. I look favorably on a prospective tenant who will sign a two year lease and they pay less. Short term rentals are expensive to the landlord in terms of vacancy, fix-up advertising, showing, etc. Most prospective renters seem to work on the assumption that this is the asking price, and that's it. Most landlords will negotiate to get a top tenant. You just have to show where you're the best: Excellent credit, good references from previous landlord, previous tax returns. Sounds like you've got a lot to brag about. Part brag, part suggestion: Another option: buy your own multi-family and live in it. Being a landlord isn't for everybody, but it can make housing very affordable. A year ago, my son, a recent college graduate, with big college loans, was living at home and working in his chosen career for a little above minimum wage while he looked for a "real" job. So, no long term job history, other debt, no landlord references. A couple of months after he started his "real" job, he bought a three family house, lives in one unit and rents the other two, so he lives close to rent free. (BTW, we gave him advice, not money, to buy the property. He saved EVERY nickel while he was living at home.)

10-30-2016, 05:00 PM	#20
shifthappens Senior Member Join Date: May 2016 Location: Usa Posts: 101 Thanks: 16 Thanked 8 Times in 5 Posts	Thanks to everyone for the positive comments. There is no doubt now that I will be relocating to Laconia in the not so distance future. I'll keep in touch via the forum and hope to meet some of you next July. This has been a great day thanks to all of you. Respectfully . . . . Vince

10-30-2016, 08:56 PM	#22
Descant Senior Member Join Date: Mar 2006 Location: Merrimack and Welch Island Posts: 4,407 Thanks: 1,362 Thanked 1,634 Times in 1,066 Posts	Good to hear you have renewed optimism about moving to Laconia. Long story follows, but I crossed it off. Summary is, there are great people here. You are making a great choice.