Income Verification

PayScore Income Verification from Rentec Direct is an essential tenant screening report. It verifies an applicant's ability to meet income requirements by pulling reliable data directly from their bank account. This is especially valuable for assessing non-traditional income sources (e.g., home-based businesses, tips, bonuses). Easily add it to any screening package for just $5.00, or order it a la carte.

How to (Actually) Verify Income in Tenant Screening - Watch the Video

How to order an Income Verification Report

Payscore provides reports based on

In your Rentec Direct account:

1. Click on Reports
2. Click on Screening Reports
3. Click the Order a Report button. This will take you to the Subject Details page, where you will enter the applicant's details
4. Choose between Nationwide Reports, Criminal Manual Search, and Criminal Intellisearch
5. Click on Next
6. Under the Income Verification Report section, select the Add Income Verification to your package option 
7. Add your applicant's email and mobile phone number
8. From the options above, choose the screening report package you wish to order
9. After selecting your products, click on Next to send your order

A copy of your applicant's Income Verification report will be available to view along with your other Screening Reports.

Depending on the number of products selected, report creation can take 5 to 60 seconds to process, at which time you will be presented with a link to review your reports. You will also receive an automated email when your reports are ready.

How Income Verification Reporting Works

To review an income verification report, your applicant will need to connect their bank account to PayScore and approve the report for your review.

When you purchase an income verification report:

1. Your applicant will receive a link from PayScore via text message or email, asking them to follow the instructions to verify their income and authorize you to receive it. 

   Note: It is a good idea to inform your tenant to look out for the notification and follow the instructions so you can access the report.

2. Your applicant will securely connect their bank account with PayScore
3. Once connected, PayScore will generate an easy-to-read report summarizing all income that:
   1. Identifies employers (this is perfect for non traditional gig work and self employed)
   2. Recurring and Non-Recurring net income
      1. Annual (Total of 12 months)
      2. Past 3 month average

      3. Past 12 month average

         

1. Your applicant can review the report for accuracy and add an explanatory statement if they wish, but they cannot change the contents of the report
2. A copy of the Income Verification report will be available for you to review in your Rentec Direct account, along with your other Screening Reports

Important Note: You only pay for reports completed by the applicant.  If your applicant doesn’t complete the process, or in the small chance that their bank isn’t supported, you’ll automatically receive a credit for the cost of the report. Income verification reports will be available to view for 5 days.

More helpful information about Income Verification can be found here: Income Verification Updates & Best Practices

Sample Income Verification Report

The following is a sample Income Verification Report for an individual. To see more information about income verification reports and options, visit PayScore