Southwestern Management And Realty Team

FAQ: Why Do I Have to Show Proof of Income If I Want to Rent?

best property management las vegasWe conduct many checks when a prospect applies to rent one of our homes — but why is proof of income so important?

The truth is, background checks, credit reports and references don’t tell the whole story about whether a prospect is qualified to rent. Our goal, ultimately, is to determine whether a prospective tenant is a potential asset, or a liability.

At SMART, serving the greater Las Vegas valley, we scrutinize critical financial information each time we qualify a rental applicant. Based on our years of being in property management, here are some of our thoughts on the process.

Verification is Critical

Again, screenings, scores, and statements only tell some of the story about a prospective tenant. Certainly, if these are revealing problems, then it is an indication that the tenant might not be able to meet their obligations. In this case, we would not qualify an applicant for a rental.

But even if everything checks out on paper, how do we verify their trustworthiness? In our application, we ask specifically if they have ever been evicted, been late with payments, refused to make rental payments on time, or filed for bankruptcy. We also check with their current landlord to verify their answers.

Income Confirmation

We also check with their current employer to to find out how much the prospect earns each month. We need to know that their income is sufficient to pay the rent! The rule of thumb is that the renter needs a gross income that equals or exceeds three times the rent they are paying. This reduces risk for both tenant and landlord.

Complications can arise if the rental applicant is self-employed, retired, or a student. In these cases, there are no pay stubs to check, or employers to question. A 1040 tax return, a 1099 form, a Social Security distribution statement, or a combination of these can be used instead.

The more we know, the better we can assess the situation.

Mutual Satisfaction

Proof of tenant income here in Las Vegas needs to be assessed through financial documentation, and also through the potential tenant’s current and past financial situations. At SMART, our goal is to place a great tenant with a great landlord. Our screening process is thorough and complete. We strive for a good match in every situation. And we promise; you will always have the best that we can give.

SMART Rental Qualifications

The following are Southwestern Management And Realty Team’s (SMART) guidelines for renting a property through SMART. Each and every application will be reviewed by a member of SMART and could be adjusted depending on credit/income and the application itself. Please be truthful!

Rental Qualifications

  • Applicant MUST be 18 years or older and application fee is $65.00 per person and is non-refundable.


  • Minimum score of 650
  • No EVICTIONS in the past 5 years
  • No utility collections (gas, power, water)

Income Verification

  • Income MUST be 3 times the monthly rent for good credit 650+ and 4 times if applicant has poor credit but good income.
  • MUST be verifiable
  • MUST be with current employer for at least 6 months.
    **If self-employed—CPA financial statements and/or tax returns are acceptable.

Employment History

(you could be required to show proof if requested, paycheck stubs, etc.)

  • Verifiable employment history for the past 3 years
    **If self-employed/retired/not employed—can verify income with signed tax returns and/or bank statements.

Rental History Verification

  • Verify for the past 3 years
  • Must provide: Landlord Names, and phone number, email (if available) on the online application.

Criminal Background Check

SMART does check—Criminal, Sex Offender and Terrorist database

  • NO sex offenders
  • NO crimes—violent crimes, prostitution, domestic violence, possession of weapons or illegal drugs


MUST be 30 pounds & under & absolutely no violent breeds—ask SMART for the Pet Policy

  • 2 pets max
  • NO ferrets or snakes
  • NO Dangerous, poisonous or illegal pets
  • NO aquariums larger than 10 gallons

Emotional Support pets are NOT considered a Service Animal and not under ADA laws.