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Posted: 9/8/2014 2:27:26 PM EDT

Hey all. I have a young couple wanting to rent my house. He said he gets military retirement disability plus money while he is in college.

I asked him if he had proof of income and he was unsure of what to get.

I liked them. They seem like good people. I would just like to see something on paper. What should I ask for?
Link Posted: 9/8/2014 2:31:05 PM EDT
[#1]
Pay stub/LES.
Link Posted: 9/8/2014 2:33:46 PM EDT
[#2]
A statement from DFAS? He should still have access to MyPay to print one out.
Link Posted: 9/8/2014 2:34:00 PM EDT
[#3]
6 months bank statements ?????
Link Posted: 9/8/2014 2:34:44 PM EDT
[#4]
Run a credit check.  If it is good it is good.  If not good don't rent to them.
Link Posted: 9/8/2014 2:36:20 PM EDT
[#5]
I think you can somehow pull up a letter from ebenefits stating your monthly benefits.
Link Posted: 9/8/2014 2:38:08 PM EDT
[#6]
The Va sends out a letter with the "award amount" and payment start date, it also has a monthy entitlement amount and a block titled "Reason" or "Reason for Change".
The "Reason" or "Reason for Change" box has the amount of compensation awarded with a combined rating in it.

It will be on a VA letterhead, with full contact information from the VA representative and the full name and address of the recipient at their address where the final compensation determination was made.

As stated above, they also have electronic, on-demand systems that may be used at the convenience of the recipient.
Link Posted: 9/8/2014 2:38:40 PM EDT
[#7]
VAFL 27-323  Has veteran's name, address.

"Dear _____,  This is to certify that the records of the above-named hoorably-discharged veteran of the Armed Forces of the United States show that he/she has a service-connected disability evaulated at ____ percent for the purposes of compensation."

__________

Veteran's Service Center Manager

(typically sent from VA regional offices, can be a PO Box)


I just found one of these from my shred box at work.
Link Posted: 9/8/2014 2:40:34 PM EDT
[#8]
If he is enrolled on the Post 9/11 GI Bill in college he will receive a housing allowance the BAH equivalent of E-5 with dependents for your zip code in edition to his VA disability payment which is likely less.

http://militarybenefits.info/bah-calculator/
Link Posted: 9/8/2014 2:43:16 PM EDT
[#9]
Just his award letter from the VA.
Link Posted: 9/8/2014 2:45:07 PM EDT
[#10]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Run a credit check.  If it is good it is good.  If not good don't rent to them.
View Quote


I used to work in the casino industry and heard from more than one apt manager that you would be amazed at how many crack heads have great credit.
Link Posted: 9/8/2014 2:46:24 PM EDT
[#11]
Quoted:

Hey all. I have a young couple wanting to rent my house. He said he gets military retirement disability plus money while he is in college.

I asked him if he had proof of income and he was unsure of what to get.

I liked them. They seem like good people. I would just like to see something on paper. What should I ask for?
View Quote



bank statement will show the deposit as mil deposit
Link Posted: 9/8/2014 2:46:47 PM EDT
[#12]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
6 months bank statements ?????
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Quoted:
6 months bank statements ?????



Yep, will contain deposit line items like this

VACP TREAS 310 XXVA BENEF 082914 [socialsecuritynumber]003600 REF*48*VA COMPENSATION *08/01/14-0


That's for disability payments.  [socialsecuritynumber] is the actual person's social security number.
Link Posted: 9/8/2014 2:47:05 PM EDT
[#13]
Bank statement
Link Posted: 9/8/2014 2:52:36 PM EDT
[#14]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


I used to work in the casino industry and heard from more than one apt manager that you would be amazed at how many crack heads have great credit.
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Quoted:
Quoted:
Run a credit check.  If it is good it is good.  If not good don't rent to them.


I used to work in the casino industry and heard from more than one apt manager that you would be amazed at how many crack heads have great credit.


While I do do credit checks. Tenants usually don't have the best credit. If they did they could buy a house in the same area and have 50% less monthly payment. There are a few people that just don't want to mess with owning a house but they are few and far between. These people are young so I am guessing they probably will not have the very best credit.
Link Posted: 9/8/2014 3:01:53 PM EDT
[#15]

Discussion ForumsJump to Quoted PostQuote History
Quoted:


Just his award letter from the VA.
View Quote
Yep.

 



Link Posted: 9/8/2014 3:14:39 PM EDT
[#16]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Pay stub/LES.
View Quote


Retiree's get RAS.

I don't get any stubs for my 9/11 GI Bill BAH while in school. The only thing the kid could give you is the VA website that calculates his bah based on his school's zipcode, then the VA eligibility letter for his GI Bill, as well as registration status from the school.

The RAS is easy. But the VA disability doesn't give stubs. Basically anything VA doesn't give pay stubs, only proof of eligibility is attainable.

A bank statement showing deposits is about the only way to show all the cash flow.

Keep in mind, OP.... The Post 9/11 pays out BAH while the individual is IN school. It cuts off for Summer break and Christmas break. It used to be as long as you were enrolled from semester to semester it was continuous. Now it shuts off while school is out.
Link Posted: 9/8/2014 3:15:47 PM EDT
[#17]
Leave and Earning Statments (LES) do not cover VA disability or GI bill money.
No one needs to know what % or how much a person gets for it.... I wont give mine out and wouldnt expect others too.

If you are afraid he don't have income then just ask for bank statements for proof on income.
If you are afraid of him, then do a background check.

Link Posted: 9/8/2014 3:16:09 PM EDT
[#18]
DAMN, you gotta love this place!

The wealth of information in the hive!





also...tagging thread to find out if rent applicant is full of shit. I was a loan officer yearrrsss ago. The 2 biggest income frauds were chicks who puffed the amounts they claimed for Child Support and people who never served claiming they got VA benefits.

O_P, keep us posted!
Link Posted: 9/8/2014 3:36:04 PM EDT
[#19]
Ebenefits> Access my documents tab (across the top) >Download VA letters >Benefit verification letter

This letter certifies that XXXXXXXXX is receiving service-connected disability compensation from the Department of Veterans Affairs.

The current benefit paid is as follows:

Gross Benefit Amount XXXX
Net Amount Paid XXXXX
Effective Date XXXX
Combined Evaluation XXXXX percent

ETA:  Medical retirees can also access their LES through mypay, however, unless the disabilities are ruled combat related the pay is limited to either the VA pay or the retirement pay (but not both).  In most cases the VA pay is higher, but in some instances the military retirement pay is elected.  Medical retirees can access their LES (paystub) through mypay.
Link Posted: 9/8/2014 3:42:10 PM EDT
[#20]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
A statement from DFAS? He should still have access to MyPay to print one out.
View Quote

Link Posted: 9/8/2014 3:45:21 PM EDT
[#21]
Discussion ForumsJump to Quoted PostQuote History
Quoted:



Yep, will contain deposit line items like this



That's for disability payments.  [socialsecuritynumber] is the actual person's social security number.
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Quoted:
Quoted:
6 months bank statements ?????



Yep, will contain deposit line items like this

VACP TREAS 310 XXVA BENEF 082914 [socialsecuritynumber]003600 REF*48*VA COMPENSATION *08/01/14-0


That's for disability payments.  [socialsecuritynumber] is the actual person's social security number.

The GI bill payments will look very much the same.  That is probably the easiest way to verify his story.

I would also ask him to get on the VA eBenefits site and print out his status using the 'verify my status' page.  It will show his school enrollment history, but more importantly, how many more months of GI bill benefits he has left.  I wouldn't want to rent to a guy whose GI bill ended at the end of the year and he had no employment lined up.
Link Posted: 9/8/2014 4:52:07 PM EDT
[#22]
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Quoted:
Quoted:
Just his award letter from the VA.
Yep.  

http://www.vba.va.gov/pubs/forms/VBA-26-8937-ARE.pdf




The VA does also send out a separate letter stating his montgomery GI and what percentage he gets of that if it's not 100%.  Bank statements are also surefire way to check too.
Link Posted: 9/8/2014 5:04:09 PM EDT
[#23]

Discussion ForumsJump to Quoted PostQuote History
Quoted:
The VA does also send out a separate letter stating his montgomery GI and what percentage he gets of that if it's not 100%.  Bank statements are also surefire way to check too.
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Quoted:



Quoted:


Quoted:

Just his award letter from the VA.
Yep.  



http://www.vba.va.gov/pubs/forms/VBA-26-8937-ARE.pdf









The VA does also send out a separate letter stating his montgomery GI and what percentage he gets of that if it's not 100%.  Bank statements are also surefire way to check too.
You're right.  That they do.  Whenever I do a VA mortgage, I have to verify benefits directly from the VA so that's about as solid as it gets.  I've seen some doctored up documents over the course of the years.  That's why third party verification has become the norm in the industry.

 
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