Personal Financial Statement

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A personal financial statement is collected to examine every detail of an applicant's finances, and for debt collection later if they default.

Document Last Modified: 1/1/1

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For high-end residential properties and all commercial properties, a personal financial statement can be extremely useful for both evaluating rental applicants and collecting money from defaulting tenants.

By entering every detail of their financial health, applicants can demonstrate their suitability for signing a lease agreement. From their sources of income to their assets, from debts to bank accounts, our Personal Financial Statement will lay bare every facet of an applicant's fiscal life.

If the worst should happen later on, and the tenant defaults or causes catastrophic damage to the rental property, the landlord or property manager will know exactly where to go to collect from the applicant. Income streams are documented so they can be garnished, and tenant assets will be neatly summarized for pursuing and repossessing. Often the threat of garnishing wages from a specific employer or securing liens against specific assets is enough to persuade the errant tenant to pay.

Debtors' best friend is anonymity and undocumented assets, but with the penalty of perjury imposed by this Personal Financial Statement, applicants and tenants will be forced to document each and every asset and source of income, leaving no financial secrets to hide from the landlord or property manager.

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