Pay Stub

A pay stub is the statement an employer issues with each paycheck. It shows gross pay for the period, each deduction, net pay, and running totals for the year. It is the most common document used to prove income on a rental application.

Landlords usually ask for the two or three most recent stubs. They read the gross pay line and multiply it out to a month: a paycheck every two weeks is multiplied by 26 and divided by 12.

That conversion trips people up. Two biweekly checks of $2,000 are $4,000, but the monthly average is $4,333, because the year holds 26 pay periods. For someone near the 3x line the extra $333 can decide the application. See proof of income for an apartment.