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socallegalwork
socallegalwork, Attorney
Category: Landlord-Tenant
Satisfied Customers: 144
Experience:  Attorney and licensed real estate broker with over twelve years of experience, specializing in landlord/tenant matters.
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I would like to rent an apartment in ogden house in wilton

Customer Question

i would like to rent an apartment in ogden house in wilton ct. i fall within the income guidelines. howerver i have a small 401 which i have been using to pay credit cards etC.. Taking this into consideration will put me over the income. will this be considered. I have only had this 401 for 1 year but have used 35,000 of it. It is before taxes.
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: CT
JA: Has any paperwork been filed?
Customer: YES
JA: Anything else you want the lawyer to know before I connect you?
Customer: hOW DO THEY VERIFY INCOME
Submitted: 2 months ago.
Category: Landlord-Tenant
Expert:  socallegalwork replied 2 months ago.

Hello. I will try to assist you. .

Assuming there is a written rental application, they will typically ask you to disclose employment and income information (all sources of income), credit card and bank account information (creditors, banks, account numbers), and any current creditors. You want to be honest and fully answer. If you are later found to have misrepresented your situation, you can be evicted. Or if a discrepancy is found before a lease is signed, you will be turned down.

Experienced landlords or managers will typically follow up by verifying the information on the application, including background checks. I believe this is what you are concerned about. Soke landlords will call employers to confirm employment and the salary you have stated. Background checks will include rental history, work history, criminal past and a credit check.

Are you concerned about the 401k being discovered or not being discovered? In other words, is this a question of needing your income to be below a certain amount to qualify for the housing or do you need it above a certain amount? If it is the latter, I would volunteer the information in the application, even though the application may not specifically ask for it. If it is something you would rather not disclose, then the only advice I can give is to be honest and direct as to what is specifically asked on the application.