I'm shopping around for a new rental as my current condo lease nears an end. Since I was FIREd when I moved in last year, I had to show proof of a bank balance with 6 months' worth of rent in reserves. For privacy, I did this by taking a screen shot of a brokerage account statement showing only the cash portion of the balance.
Now I see that I can auto-generate a "balance letter" from Schwab confirming that I have a balance in excess of X amount (I can choose any amount, such as 6 months of rent). The letter starts with just one line saying "this account has at least this much," followed by several lines of caveat about how the balance is subject to change at any time.
Has anyone gone this route when applying for a lease? It seems less invasive, as it shows only that I have enough but not exactly how much.
If such a letter isn't enough, my backup plan is to do the statement screen shot again. However, now my balance is much higher than last year's because of December year-end distros and I'd rather not disclose that much. Thinking of moving some of it to savings so the disclosed number will be lower. Or maybe just present the savings account statement.
Any thoughts or experiences regarding balance letters for leases?
Now I see that I can auto-generate a "balance letter" from Schwab confirming that I have a balance in excess of X amount (I can choose any amount, such as 6 months of rent). The letter starts with just one line saying "this account has at least this much," followed by several lines of caveat about how the balance is subject to change at any time.
Has anyone gone this route when applying for a lease? It seems less invasive, as it shows only that I have enough but not exactly how much.
If such a letter isn't enough, my backup plan is to do the statement screen shot again. However, now my balance is much higher than last year's because of December year-end distros and I'd rather not disclose that much. Thinking of moving some of it to savings so the disclosed number will be lower. Or maybe just present the savings account statement.
Any thoughts or experiences regarding balance letters for leases?