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Ask HN: Bootstrapped and trying to rent and apartment

3 points by sunils34 ↗ HN
I was wondering what many people in bootstrapped startups do when asked for paystubs while looking for renting an apartment in Silicon Valley (Mountain View, Sunnyvale, Palo Alto).

I was recently denied from renting an apartment because I didn't have paystubs for the last two months. I am working on my own bootstrapped startup. I quit my high paying job last summer to pursue this venture. I have excellent credit.

Has anyone had this issue? If you have, what did you do about it? What's the best way to convince a landlord that you're a good for it?

9 comments

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keiferski
I haven't personally had this issue, but have you considered incorporating and paying yourself a salary?
sunils34
our startup is incorporated. this issue with paying yourself with your own money is that you lose money to payroll tax.
RollAHardSix
Do your homework on minimum income levels and pay yourself just enough to qualify for federal & state benefits. That's childcare if needed, food stamps, health insurance, as well as possibly cooling improvements to your residence...it will depend on where you live however I believe that's a good overlay.

...Yes, it's down and dirty money management but you do what you must.

staunch
I've co-signed for close friends/family members before. Maybe you know someone that will do that for you.
paulsutter
Offer to pay rent in advance. You may even negotiate rent discounts by paying for the whole year in advance.
anti-nihilist
I've done this 3 times. 2 times I only paid 6 months up front. After the 6 months was up, neither apartment complex asked me to prove income when I renewed the lease.