What are the guidelines and what documents are accepted?
At Alcove, we take income and employment verification seriously to ensure that applicants and their guarantors have a stable financial situation to meet their rental obligations. This helps us maintain a trustworthy community for roommates and landlords.
Income & Employment Verification on Alcove
Required Documents for Income Verification
To verify your income from employment, you are required to provide specific documents that meet our criteria. You must submit at least one type of document:
| Document Type | Description | Requirements |
|---|---|---|
| Pay Stubs | Regular pay statements from your employer. |
- Clear PDF format - Must include full, legal name that matches the legal name on your application - Pay period dates - Pay amounts - If you have been employed for more than 3 months, at least 2 pay stubs is required. |
| Offer Letter/ Employment Letter | A formal letter from your employer confirming your employment, start date, salary. |
- Clear PDF format - Must include your full name - Company name and contact details - Position and salary details - Start date |
Additional Income (Optional)
If you have additional sources of income, these should also be documented and uploaded. Acceptable documents include:
| Document Type | Description | Requirements |
|---|---|---|
| Paystub/Receipt/Other Proof | Any document showing proof of additional income. |
- Clear PDF format - Must include your full name - Details of income source and amount |
Liquid Assets (Optional)
Liquid assets are important because they provide landlords with assurance that you have sufficient funds to cover rent payments, even in the event of temporary income disruption. To verify liquid assets, such as savings or other readily available funds, you need to provide at least two recent bank statements. You have the option to upload a third statement. The system will calculate your average balance using the most recent statements.
You can upload statements from:
- Bank Accounts (Checking or Savings)
- Investment Accounts
| Document Type | Description | Requirements |
|---|---|---|
| Bank Statements | Statements from your bank showing your account balance and transactions. |
- Clear PDF format - Must include your full name - Recent statement date - Account balance and transaction details |
| Investment Account Statements | Statements from your investment accounts showing balance and transaction history. |
- Clear PDF format - Must include your full name - Recent statement date - Account balance and transaction details |
Submission Guidelines
Failure to properly upload your documents may result in your application being declined, requiring you to reapply and potentially lose your spot in line. To avoid this, make sure to follow the guidelines provided when submitting your documents.
- Required Info: Each document should include your full name and relevant details as indicated in the tables above.
- Upload quality: Ensure that all documents are legible. Blurry or unclear documents may lead to delays or rejections by the Landlord.
What is Not Allowed
- Screenshots: Screenshots of payroll software or bank apps are not acceptable.
- Handwritten Documents: Any document that is handwritten is not allowed.
Sharing employer contact with landlord
As part of the income and employment verification process, all information provided is shared with the landlord or property manager of the property you are applying for and is subject to their final approval. By providing contact information for your employer, you authorize Alcove to share this information with the landlord or property manager.
They may contact these references to verify your employment as part of their application review process. Make sure to contact your listed employers to authorize them to release this information. Failure to do so may delay your application process.
Troubleshooting / Support
If you encounter issues while uploading your documents, or if your documents are rejected, you will receive a notification with the reason for rejection. Please revise and re-upload your documents according to the guidelines provided.
For further assistance, contact us at apply@alcoverooms.com or text us at:
- Raleigh-Durham: (919) 750-8278
- Charlotte: (704) 327-0937
- Atlanta: (678) 515-9835
- San Antonio / Austin/ Dallas-Forthworth: (737) 727-8959