By Steve Lockwood
As a multifamily property owner, nothing is more important than keeping your residents and property safe. This means fire safety and protecting your property from one of the most common causes of multifamily property damage, fire damage.
According to the National Fire Sprinkler Association, there are an average of 88,600 apartment fires in the United States per year and it is the third leading cause for insurance claims according to the National Multifamily Housing Council.
The threat of fire damage is real which means multifamily property owners need to take fire safety seriously. As an expert in multifamily fire safety maintenance and testing, I know that many multifamily property owners can limit their liability with very minor fixes to their fire safety plan. Here are a few tips to help improve fire safety at your apartment complex.
No. 1 – Conduct annual inspections
The biggest mistake multifamily property owners make is also the simplest to fix.
All multifamily property owners must do an annual fire safety inspection. Too many apartment owners take too long to do fire safety inspections. I see property owners six to seven months past due for inspections because they have not fixed the deficiencies they were noted for the year prior. An annual inspection is the simplest way to learn about lapses in your fire safety plan. Do these yearly or you will run the risk of insurance not covering you when a fire occurs.
No. 2 – Don’t paint your sprinkler heads
Apartment complex owners are going to paint the interior and exterior of their property at some point.
A paint job is how one of the most common fire safety mistakes occurs. Accidentally painting sprinkler heads is an incredibly common but dangerous mistake multifamily property owners make. Painting a sprinkler head inhibits the spray pattern of the head which hurts its ability to put out fires. A sprinkler head that is painted shut cannot discharge. If you paint over one you have to replace the whole head. You can’t just clean it. Hire a painter who understands this part of the fire code and properly covers up sprinkler heads before doing a paint job.
No. 3 – Replace bad pipes and valves
Sprinkler systems will wear over time. Bacteria from the water in your system will build over time and rust your system from the inside out.
The piping in your fire system is bad on the inside, but it looks perfectly fine on the outside, so you don’t even know there is an issue. Not addressing internally corroded pipes will increase the chances of having a pipe burst. A pipe bursting during a fire emergency will make your sprinkler system unusable. The best way to fix this issue is to hire someone to do an internal pipe and valve inspection once every five years or do one on any multifamily property you are looking to purchase. This inspection will let you know the condition of your pipes and valves and replace any faulty pipes before they fail you in an emergency.
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No. 4 – Inspect fire extinguishers
Fire extinguishers are the first line of defense against any fire.
If the fire extinguisher does its job in time your more extensive fire system won’t need to activate. Unfortunately, fire extinguishers are also always the last thing to be replaced due to compliance issues. Inspect your fire extinguishers annually; they need a full tear-down inspection every six years. This is when a fire safety expert will break down your fire extinguisher, empty it of powder, clean all the parts, and replace any defective ones. You should get a hydrostatic test every 12 years. This is when your fire extinguisher is filled with water or oil and then pressurized to test the integrity of its shell. Extinguishers get sun damaged, rusted, or dented all the time and are never inspected. Inspecting your fire extinguishers ensures you can stop fires before they become a bigger deal.
No. 5 – Getting a fire safety inspection
You are going to need to get a fire safety inspection at least once per year.
Every piece of fire safety equipment will be marked with the date it was last inspected. Look at that date and one year from that date is when you need to get another inspection. The best way to get a fire inspection is to Google for a fire safety inspector and pick one that has a lot of good reviews. You can also ask any friends or property owners you trust who does their inspections. The fire department does not give recommendations for fire inspection companies in order to avoid the appearance of favoritism.
It is important to note that multifamily property owners are not required to have a specific fire evacuation or communication plan to operate but it is recommended that to create one with the help of an expert. Creating a plan does not need to be complicated. An easily available property map with labeled fire escape routes will go a long way in helping people remove themselves from danger. An annual email to tenants to remind them of your fire safety plan would also be a helpful but not required step to keep people safe during a fire.
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By Krista Reuther
Landlords need to verify that a new renter will actually be able to afford the rent they’re charging each month as part of the tenant screening process.
That’s why asking for several income verification documents on the rental application is so common. Before handing over the keys to their swanky rental unit, landlords will also want to verify the provided proof of rent letter along with the rest of the applicant’s income documentation to protect themselves from fraud.
Keep reading to discover how to demonstrate proof of income.
What is Proof of Income for Rental Applications?
Proof of income is a document or set of documents that verify an individual’s stated wages or earnings.
This documentation is used by landlords to determine a tenant’s ability to pay rent. By evaluating a tenant’s monthly income, job status, past payment history, and debt status, landlords can determine if the applicant is a safe choice to fill their rental.
By seeing a renter’s proof of income, landlords can calculate their rent-to-income ratio and see if the applicant would be a good fit for their property. A good rule of thumb is requiring 30% of gross income as a maximum percentage. On top of this, landlords should also run a comprehensive credit check to make sure a potential tenant has a history of making payments on time.
10 Ways to Verify Proof of Income for Rental Applications
1. Income Statement (W-2)
A W-2 is an IRS tax form that must be completed by employers for each of their employees. Employers report total annual wages paid on this form. This document offers valuable insight into an applicant’s overall income status as it depicts a full year’s worth of salary. A W-2 also serves as proof of employment for rental applications.
2. Miscellaneous Income (1099-MISC)
A 1099-MISC is used to report various types of income someone may receive throughout the year for non-salary positions. Independent contractors and self-employed individuals use this form. A 1099-MISC form can also be a useful way to show proof of income for anyone that earns money from an asset or royalties.
3. Bank Statements
A bank statement for rental applications captures the applicant’s history of deposits and sheds light on any dangerous spending habits. Many tenants may find this method of information verification a bit intrusive as they might not want to show you their spending habits. But don’t worry – there are other ways to verify an applicant’s income for those who feel a bank statement is too personal.
4. Pay Stubs
A pay stub, also known as a paycheck or pay slip, is received by employees each pay period and shows their net take-home pay. Pay stubs are easy proof of income for rental applications, but they’re also easy for bad actors to forge. Look out for perfectly rounded numbers, alignment issues, and the use of O’s instead of 0’s when attempting to spot a fake pay stub.
5. Employment Verification for Apartment Renting
A letter of employment verification for apartment or unit renting is a valid method to show a landlord that the applicant has a stable income and also that this income will remain steady over the lease term. Applicants can request an employment verification letter directly from their employer. To streamline the process, an individual may consider downloading a template and bringing it to the employer. We’ve built your downloadable employment verification for apartment renting template – find it below!
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6. Federal Income Tax Return (IRS 1040)
The IRS Form 1040 has a section to report annual income. This document gives an accurate picture of a tenant’s annual income as it shows all sources of income, including income from assets and non-salaried positions. A tenant can request a photocopy of the form or a computer transcript of the information through the IRS.
7. Social Security Benefits Statement
A Benefit Verification Letter is an official letter from the Social Security Administration (SSA). This letter outlines the monthly benefits income received by the applicant, and it’s a great way for individuals who receive retirement, disability, or Supplemental Security Income (SSI) benefits to prove income.
8. Workers’ Compensation Letter
Workers’ compensation provides lost wages and medical benefits to employees who are injured on the job. An individual receiving workers’ compensation can provide a letter detailing lost wage compensation as verifiable income. It is important to note that while this letter can show steady income for a short period of time, these benefits tend to end eventually.
9. Bonus and Incentive Payments
For renters who have commission-based jobs such as real estate agents, another option would be to show documents related to their bonus and incentive payments. Sometimes commission-based jobs do not have consistent payments, which is why it’s important to see if they can afford and be able to pay the rent on time every month.
10. Unemployment Statement
An unemployment statement can be a convenient way for renters who are out of a job to show proof of income. All renters need to do is provide the statement sent by the state unemployment office. Unemployment funds are guaranteed money, but landlords should still check the dates on the statement to see how long the benefits are set to last.
Do Tenants Fake Income Verification for Apartments?
Unfortunately, it’s easier than ever to create fake income verification documents online. Tenants can create fake pay stubs in about one minute using various free or inexpensive online tools. That’s why it’s crucial for a landlord to do their due diligence when reviewing income verification documents and maintain a robust tenant screening process.
Verifiable Income Recommendations for Landlords
Obviously, there is no need for landlords to require ten different income verification documents. Depending on the monthly rent, landlords should ask for two to three proof of income documents.
For individuals who are currently working, it makes the most sense to ask to see several pay stubs or a W-2 and a tax return. For elderly renters, a landlord will need to verify a Social Security Benefits Statement, and for injured workers, a Workers Compensation Letter. For expensive rentals, landlords may also want to consider asking for a bank statement.
It is crucial for landlords to not only ask for proof of income documents from renters but to also look out for fake income verification documents. TurboTenant offers a number of tools to make this process easier for both landlords and renters. In fact, TurboTenant landlords can find a standard rental application and screen tenants for free.
TurboTenant landlords with a Premium subscription also have access to TransUnion’s Income Insights with every screening report.
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Provided by Fair Housing Institute
A live-in aide request. For properties like senior living communities, this is a regular request, and the procedure is memorized by many of the staff. But are your procedures up to date with the Fair Housing Act? For other properties, these requests aren’t all that common and can cause some stress due to lack of experience. What are some of the nuances you should be aware of? Let’s break it down.
Remember, Disability Is a Protected Category
When a resident approaches you, asking questions about the process or even about the form to request a live-in aide, you need to be aware of some pitfalls. Remember, disability is a protected class under the Fair Housing Act. So, during conversations to assist your residents, avoiding certain questions will help you avoid a fair housing complaint. Anything direct, such as the name of the disability or even asking if they have a disability (if they don’t have physical manifestations), should be strictly avoided.
Remember, your company’s reasonable accommodation form or an approved letter from a verifier will more than likely have answers to these questions. You should not ask such questions in your interactions with the resident. Your role in this process is to inform the resident of the proper procedure and help guide them in their request.
Check Your Forms
For management, the drafting of reasonable accommodation forms can be tricky. There are generic ones that you can definitely use, especially as forms aren’t required under fair housing law. However, if your form has open-ended questions, it may be difficult to make the final decision on approving such a request. It is always recommended to employ the services of a fair housing lawyer. Below is a list of possible questions that you may have on the form, specifically for live-in aide requests:
- Does the resident require 24-hour care?
- How many hours a day does the resident require care?
- What services are needed to provide adequate care for the resident?
- Will the live-in aide be a permanent or long-term solution?
The verifier provided by the resident should fill out your property’s provided form. If the resident has already met with a verifier—their doctor as an example—and provided a letter answering the questions found on your form, then a form isn’t required.
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Follow-Up Policy
Your resident has approached you about the need for a live-in aide, and a verified form or letter has been acquired. How do you follow up? Once the need for a live-in aide is confirmed and presented, your procedure must include a few things. First, remember that a live-in aide is not a resident, so while a criminal background check can be enforced, a credit check cannot. What if your resident wants a family member as their live-in aide? This can be permitted as long as it is verified that the family member is there to render necessary care to your resident. You may also need to address an additional reasonable accommodation for a larger unit depending on the current unit your resident is residing in.
As always in any procedure, ensure every interaction and all steps are thoroughly documented. This can help you prevent delays in following through with the accommodation and any miscommunication between different members of staff. If there is a delay in the accommodation, having proper documentation will also help you give a clear answer to the resident in case of questions or confrontations.
Live-In Aide Accommodation Summary
In summary, no matter the type of property, you need to be prepared for any kind of reasonable accommodation request, especially when it comes to live-in aides. Reviewing your procedures, whether they’re well-used or a little dusty, can help you prevent fair housing complaints that could lead to pricey violations.
As touched on before, while generic forms are acceptable, they can make the reasonable accommodation process longer for both parties. Employing a fair housing lawyer to work on your own custom, in-depth accommodation forms can help you save time and avoid delays. In addition, focus heavily on proper documentation training. Especially when dealing with accommodations involving a protected category, keeping all staff informed of conversations and current steps can also aid in avoiding fair housing violations. So, the next time that a live-in aide request presents itself, you can confidently help your resident and stay fair housing compliant.
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