How Tenalet Verifies Your Tenant's Income

You need to know if your tenant can afford the rent. They say they can. Their bank account tells a different story.

Tenalet pulls verified bank data and shows you exactly what your tenant earns, where it comes from, how long it has been coming in, and what they take home after tax.

No guessing. No forged documents. The numbers, straight from the bank.

Where the Data Comes From

When someone applies through your ToletLink™, they securely connect their bank account via Mono.co. They give explicit consent. Tenalet then pulls their transaction history directly from their connected bank account(s).

No payslips. No employer letters. No documents that can be forged.

You get real financial data, verified at the source.

What Your Report Shows You

The income verification report has four sections. Each one answers a different question about your tenant's finances.

Gross vs Net Monthly Income

This is the first thing you see on the report. Two numbers, both expressed as a multiple of your rent.

Gross monthly income is the total detected income across all sources before tax.
Net monthly income is what the tenant actually takes home.

For salaried income, Tenalet back-calculates gross pay from the detected salary deposit using Nigerian tax tables (PAYE, pension, NHF). For non-salary income, amounts are calculated directly from transaction data.

Why both numbers matter: a tenant earning ₦500,000 gross might take home ₦390,000 after deductions. If your rent is ₦208,333, that is the difference between 2.4x and 1.9x your rent. Both are above the threshold, but the gap tells you how much breathing room your tenant actually has.

Income Sources Breakdown

This is where the report gets specific.

Your tenant might earn a fixed salary from one employer. Or they might be a trader whose revenue spikes in December and drops in March. A freelancer paid in chunks across three accounts. A young professional supplementing salary with side gigs. A payslip would show you one of those income streams. The bank data shows all of them.

Tenalet's AI scans the tenant's transaction history and identifies every recurring income source by name. For each source, the report shows three things:

• The source name (employer, business, or individual)
• The number of months that source has been active
• The monthly average amount, expressed as a multiple of your rent

Here is what that looks like in practice. A tenant applying for a ₦208,333 monthly rent might show:

• MONAKA NIGERIA — 10 months — 1.7x of monthly rent
• DIAMOND FOUNTAINS GLOBAL — 3 months — Below monthly rent
• NNAMDI EUGENE — 2 months — Below monthly rent

You can read that in seconds. MONAKA NIGERIA is the primary income. It has been consistent for 10 months and covers the rent comfortably on its own. The other sources are minor and recent — supplementary, not dependable.

If those minor sources disappeared tomorrow, this tenant can still pay your rent.

That is the kind of clarity a payslip cannot give you. You are not seeing one number. You are seeing the full picture of how this person earns money.

Monthly Inflow History

This section shows total money flowing into the tenant's account, month by month, for the full period of available data.

Each month is expressed as a multiple of your rent. You can scan 12 months of cash flow in a few seconds and spot patterns immediately.

A tenant with "Above 3x" for 10 straight months and "1.7x" in two months tells you something different from a tenant who swings between 3x and below rent every other month. Both might have the same average income. Only one is consistent.

If the tenant connected multiple bank accounts, the inflow history is broken down per account so you can see where the money is actually landing.

Account Summary

The final section shows the average daily balance for each connected bank account, expressed as a multiple of rent.

This answers a simple question: Does your tenant keep money in the bank, or does everything that comes in go straight out?

A tenant with high income but a balance consistently below rent might be living paycheck to paycheck. A tenant with moderate income but a balance above 3x rent has a financial cushion that protects you if something disrupts their income for a month.

How to Read the Report in 60 Seconds

You do not need to study the report. Four questions, 60 seconds, you have your answer.

Question 1: What is the net income multiple? Look at the net monthly income at the top of the report. Is it above 2x your rent? If yes, the tenant takes home enough to afford the property with room to spare. If it is between 1x and 2x, it is tight. Below your rent, they cannot afford it.

Question 2: Where does the income come from? Check the income sources table. Is there a primary source active for 6 months or more? That is your anchor. If the tenant depends on multiple small, recent sources with no clear primary employer, income is fragile.

Question 3: Is the cash flow consistent? Scan the monthly inflow history. You are looking for stability, not perfection. A tenant with 10 months above 3x and two months at 1.7x is solid. A tenant who drops below 1x in three of the last six months is a risk.

Question 4: Is there a financial cushion? Check the average daily balance. Above 1x rent means the tenant has reserves. Below your rent means they are operating with no buffer. This is your safety net if their income dips.

If the answer to all four questions looks good, you have a financially qualified tenant.